Billionaire businessman Leandro Rizzuto has bought the Temenos development on the Caribbean island of Anguilla.

Temenos, which includes a US$50 million golf course designed by Greg Norman’s firm, also comprises beachfront homes and villas, plus a hotel. The property had fallen into receivership; Rizzuto, the founder of Conair Corporation, which produces a large range of consumer products, is also the owner of the adjoining CuisinArt Resort, named after one of his company’s brands.

In a public auction on 7 June, Rizzuto placed the highest bid on Temenos. The resort will re-open on 15 October under its new name, CuisinArt Golf Resort & Spa.

Under CuisinArt resort management, the 275 acre beachfront will undergo a comprehensive restoration process, with initial efforts focused on the 7,063 yard golf course. Refurbishing the property’s seawater reverse osmosis plant is a major component of this process, as the plant desalinates and purifies the water used on course, which will help improve the quality and thickness of the greens.

Improvements to the golf course will be followed by an upgrade of the property’s on-site Mediterranean-styled clubhouse, which features views of the Caribbean Sea and the neighbouring island of St Maarten. Future development plans include the addition of a five-star full service restaurant within the clubhouse.

“Acquiring this spectacular property with its championship golf course and palatial clubhouse will allow us to offer our guests an even more comprehensive luxury experience,” says Stephane Zaharia, the new resort’s general manager.