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First-tier Tribunal’s decision in Lloyd-Webber

10 February 2020 / Sati Virdee
Issue: 4731 / Categories: Comment & Analysis
15361
Barbados or bust
Over the years Lord and Lady Lloyd-Webber had enjoyed regular holidays with family and friends in Barbados and were interested in buying two luxury villas in a yet to be developed area Clearwater Bay. After she attended a presentation on the development in London Lady Lord-Webber flew to the island to select two properties that would provide accommodation to allow the entire family to holiday together.

 

The plan was that 50 villas would be built together with a luxury hotel which would provide services for the properties.

In 2007 the couple signed the contracts to purchase the two plots of land The vendors were to build the villas so that on completion of these contracts the couple would acquire the land and completed villas.

The price of the villas was US$15.9m and $10m and they were scheduled...

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