With a baptism in black rum the Residence Club at Tucker?s Point was anointed yesterday.

Tourism Minister Ewart Brown was on hand with Tucker?s Point executives for the traditional roof wetting ceremony, saying how pleased Government was to see a new Tourism product fast-tracking to its opening. ?Tucker?s Point Club, with all of its amenities, continues to evolve into a world-class resort community which will undoubtedly attract visitors to Bermuda,? he added.

Tucker?s Point Club president Edward S. Trippe, executive vice president of real estate development John Bush, and Residence Club general manager Alan Paris were also on hand to do the honours. The Residence Club, Bermuda?s first deeded fractional ownership entity, will open on October 29.

?The fractional ownership concept creates a new product in the hospitality market in Bermuda and has been highly successful,? Mr. Bush said.

The concept gives Residence Club owners deeded fractional interest in the luxurious Bermuda vacation villas at Tucker?s Point Club, with flexible access to their residence year-round.

The first phase of the development, Mr. Bush revealed, has already been sold out.

The Residence Club encompasses 20 spacious two-, three-, and four-bedroom villas. The purchase prices start at $380,000. Residence Club owners enjoy membership in the Tucker?s Point Golf, Beach, and Tennis Club, and access to a private clubhouse with swimming pool and owners? lounge.

?The owners are excited about the opening of the Residence Club and are looking forward to enjoying the many facilities and amenities that Tucker?s Point Club has to offer,? Mr. Paris said.

The Residence Club joins other facilities already in operation at Tucker?s Point including the Tucker?s Point Golf, Beach and Tennis Club, a championship 18-hole golf course, a brand-new Golf Clubhouse, the Beach Club and the residential communities Ship?s Hill and Shell Point. A hotel is due to come online sometime in 2007.

The principal investors in the Tucker?s Point Club are Bermuda Properties Ltd., which has owned and operated the property since 1958, and Argus Insurance Company Ltd. Additional information is available online at www.tuckerspoint.com.