Madeleine Uren

Name

Madeleine Uren

Department

Leisure L&P

The Savills Leisure team has been involved with a number of developers in Cape Verde over the last few years. This year is the first time that I have been to the archipelago, consisting of nine main islands, which has provided invaluable development appraisal experience for my APC. The islands gained independence from Portugal in 1975 and as the economy is not reliant on tourism it has remained relatively unspoilt. Due to its central location, it experiences little seasonality and boasts sunshine all year round.

The instruction involved visiting a number of properties on several of the islands to look at residential resort development sites, some which are already under construction and some which are yet to reach that stage. Each site presenting different challenges and concepts ranging from exclusive 30 unit 'country clubs' to 270 hectare developments with a range of facilities including branded hotels and golf courses. The valuations were done on a residual basis using the software programme Circle Developer.