Bermudian property developers Alan and Vera Rosa Marshall declared themselves delighted yesterday after a judge ruled that they can sell their $45 million St. George's mansion to a foreign buyer.

The couple hugged one another after Puisne Judge Geoffrey Bell delivered his damning verdict on a policy change made by the Government last year, which prevented Islanders from selling homes at the high-end of the property market to non-Bermudians.

Mrs. Marshall told outside Supreme Court Four: "Now we can get on with our lives. I'm so happy that we can market our house. I'm just really pleased because it's been a long year.

"We have lost great opportunities to sell to very wealthy people, very high-profile people. It's been very, very hard on us and I just want to get back to doing what we do best. We have been doing this for 25 years and we love it."

She said many people had expressed an interest in buying GoldenEye, the plush mansion in the Tucker's Town neighbourhood dubbed Billionaires' Row, which was at the centre of yesterday's case.

She and her husband spent $37 million developing the property ? the most expensive on the Island ? but a policy change by the Government last year made it effectively unsaleable, as no Bermudian would be able to afford the $45 million asking price.

Mrs. Marshall spoke of her and her husband's shock last February when the controversial policy change was made. "As a Bermudian, you go to sleep one night and then wake up the next day and your whole world has turned upside down," she said.

"I know I can go to sleep tonight and wake up and feel better tomorrow."

She would not comment on local speculation that Oprah Winfrey had expressed an interest in the house, but a spokesman for the TV talk show host said Ms Winfrey had not shown "serious interest" in the property. But she said it was true there had been a prospective buyer whose presence in Bermuda would have been of "great benefit" to the Island.

The couple have previously sold property to rich buyers including Mercedes billionaire Friedrich Flick and advertising tycoon Robert Lenz. The sale of GoldenEye would have netted the Government almost $10 million in taxes and fees.

Mrs. Marshall said: "We have always tried to draw very wealthy people to the Island. Bermuda tourism wants that and we hope very much that we can now sell our house."

Mr. Marshall added: "We are just happy with the decision. This has taken a long time and we need some down time now to take in the judgment."

Mrs. Marshall's twin sister, Vivienne Power, described GoldenEye as "a landmark case". "When you do a radical change, as the Government did, it is going to affect people. They made their decision based on what?"

As the Marshalls celebrated Mr. Justice Bell's decision last night, real estate agents were reserving judgment on what the ruling might mean for other rich Bermudian landowners who wish to sell.

Buddy Rego, of Rego Realtors, said it was still unclear whether the ruling voided the policy change and would allow Bermudians to immediately sell high-end properties to foreigners or whether each individual case would have to go before the courts.

"If the policy is to resume as it previously was, then that means that there will certainly be properties that may come onto the market, where the owners up until now have felt it was unsellable," he said.

"I don't think there is going to be a run on the market though ? there aren't that many properties at that end of the scale. But I am certainly aware of a couple that might now be put back on the market.

"The good that will come out of this is that it will be a level playing field for Bermudians and non-Bermudians. It was unfair because we were talking about a situation where the policy favoured those non-Bermudians who owned real estate over Bermudians. The Government is supposed to be protecting the interests of Bermudians."

Randolph Horton, Minister of Home Affairs, told that he was unsure as to what exactly the ruling would mean for Bermudian landowners.

He would not be drawn on whether Government will appeal the decision but denied that he had failed to give reasons for the policy change, which affects homes with an annual rental value (ARV) above $126,000.

"The policy has been explained through many statements that I have made over the past year.

"This Government, we are going to be robust and continue to be robust in our efforts to ensure that land in Bermuda is protected for Bermudians."

Shadow Minister of Home Affairs Maxwell Burgess said the Government's policy was unfair and that he was "elated" by the court ruling. "If a Bermudian is able to acquire a home and get it up to the standard of the ARV they ought to be able to sell it as any other person would sell it," he said.