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philips stephenson’s private island best of the bestFROM FAR LEFT: Therenovated resort has 22independent cottages dottedon beaches, coves or thehillside; Stephenson on hisCessna 421 Golden Eagle;PSV offers several diningoptions; Mature forestcovers the island; There arenumerous water activitiesphilips stephenson’s private island best of the bestwords: Grace Trofaphotography: courtesy of Phil StephensonprivatemyislandFormer oil magnate Phil Stephenson set out to find a newthat is more than worthy of a wolf whistle. What he didn’tsailboat and chose Galileo, a beautiful aluminium hull ketchbank on was that he would also find himself an island...Retiring after a 10 year career in the oil refining andmarketing business in Eastern Europe and the former SovietUnion, Phil Stephenson spent time putting his finances in order and, at theage of 42, pondered the question, ‘So what’s next on the life chart?’ Onecan imagine the youthful Stephenson sitting at his desk, drumming hisfingers – so what brings me joy? ‘I had enjoyed sailing and scuba divingsince I was 12; the obvious next step seemed, find another sail boat’. Hefound himself not only a boat but an island – or, maybe, as they say withboats, an island found its new owner.Stephenson is no newcomer to boat ownership. Narrowing down hisfavourites from among the dozen he’s owned, three stand out: Petral, a7.9 metre Seabird class sloop, kept anchored in Bombay Harbour whenhe lived there in the 1990s; the 6.1 metre Vioelsloop Dolphin, a long,narrow lowboat, chained to the canal in front of a 16th century townhousein Amsterdam; and then the 9.8 metre Mongolia, still in his possession, a1919 vintage wooden Victory class sloop, built by Nevins yard in New York.But, for a passionate yachtsman, there is always room for another, in thiscase, the 37.5 metre Galileo. Built by Palmer Johnson in 1989, designedby Sparkman & Stephens, the aluminum hull ketch with almost 200 tonnedisplacement is a beauty, worthy of a wolf whistle. While previous ownershave circumnavigated the globe aboard Galileo, Stephenson is quite happycruising the Mediterranean and his new home town, the Caribbean.‘I was looking for something to do. I thought that something was asailboat, but then that sailboat happened to bring me to the island,’ hesays. In April 2009, Stephenson and his girlfriend cruised aboard Galileofrom St Martin to Grenada – the last stop, the island of Petit St Vincent(PSV). ‘We went ashore, had a drink at the bar; I thought at the time, nicelittle island. A month later I received an email informing me the island mightbe for sale. Normally I would delete something like this, but having justbeen there I was curious. Essentially we started looking at the deal in Mayof 2009, and concluded all the due diligence, negotiations and transactionstructurings by November 2010. A long time, but it was worth it; everyoneleft the table happy.’Stephenson feels there are many similarities between managing a bigyacht and managing a small island: ‘One moves and the other doesn’t; onedepreciates and the other one doesn’t,’ he jokes. ‘Like on a yacht, on anisland you are making your own power and water, being your own fire andpolice department, recruiting and motivating staff, living in tight quarters,paying attention to the natural environment – many of the same challenges.’His best advice for those considering an island purchase? ‘If you are goingto do it, be prepared to double the cost and the time allocated and still plan,plan, plan before you pull the trigger. If I was to become involved in anotherisland project, I would pull everything together in a locked warehouse andwhen the very last screw that I thought I needed, from a detailed plan, cameinto that locked warehouse, only then would I set the construction teams towork.’ He would also strongly advise storing supplies and spare parts; hemaintains a warehouse in Florida to consolidate supplies, which are thenshipped to the island.Although Stephenson researched other islands, there were a couple offactors that clinched the deal. The hilly terrain of the 0.5 square kilometreisland (the highest of two hills is 91 metres above sea level) eliminated theconcern of a hurricane-produced wave washing over the island; while the

philip stephenson my private island www.boatinternational.comRIGHT: Stephenson withhis three-year-old sonJack on the eponymouslynamed ‘Jack’s Beach’PSV boasts mature forests and twokilometres of white sand beachesmature forest and almost two kilometres of white sand beacheswere further attractions. In place was a successful, well-knownhotel: ‘It was in need of repair and renovation, but the originalfounder, Haze Richardson, had already done, quite frankly, thehardest part of getting it up and running. More importantly, PSVwas freehold in perpetuity. You are not buying a lease that has 50years left on a 99 year lease, so there’s no fear about investing ormaking improvements. I recently decided to put it into a trust inthe name of my son, so for estate planning purposes I am alreadythinking about owning it for a long time. I have established a trustthat is also perpetual: theoretically, the heirs will have the island– they can always sell it, but it is set up in an ownership way that itcould be a property in the family forever.’The renovated resort has 22 independent cottages, discreetlydistant from each other on beaches or coves or dotting thehillside; two restaurants, one for formal dining on a hilltop whereguests have the option to dine in the wine cellar; a beach barand boutique area; hillside spa and numerous water activities,including use of a 12.8 metre sloop. ‘What is more important iswhat we don’t have: there are no phones, internet or TV in therooms; guests engage with family and friends rather than race tothe internet to check emails. Since there are no cars on the islandwe frequently hear comments on the pleasure of not hearingtraffic sounds. You can walk down the island and, if you quittalking, you won’t hear anything but wind in the trees, ocean surfand birds singing.’Access to PSV is restricted to guests and the 120 memberstaff. With a staff/guest ratio of four to one, service is impeccable.‘There are days in November when there are just a couple on theisland, and then times like Christmas where we are bringing uprollaway beds and making up couches, when we are over capacitywith families and kids.’ Stephenson spends an average of threemonths of the year on PSV: he uses his Cessna 421 GoldenEagle in the Caribbean, with the airstrip on Union Island only a15 minute boat ride away. Proudly, Stephenson has named abeach after his adored three-year-old son. ‘Sitting with my son ina palapa on his own beach, Jack’s Beach, is just the coolest thing;that’s when it really feels like it’s all been worthwhile.’ bbPetit St VincentContact: Reservations Office, Petit St Vincent PrivateIsland, PO Box 841338, Pembroke Pines, FL 33084.Tel: +1 (954) 963-7401 / +1 (800) 654-9326; Fax +1 (954)963-7402; Email: info@petitstvincent.com