British Airways is currently offering a 50% discount on economy flights from Gatwick to Bermuda, an ideal opportunity to escape the Winter gloom in the UK! The price is 20,000 Avios return, instead of the usual 40,000. Taxes etc remain at £315 per ticket. Unfortunately, there is no discount on Club World or World Traveller Plus seats. You can book this at ba.com.
A typical economy seat in November would cost around £650, so you are getting a good 1.5p per Avios of value for your points. This drops to £515 in January to March next year, cutting the value of your points to 1p when you adjust for the taxes. You need to book by 30th September, but the good news is that you can fly at any point up to 31st March.
Unfortunately, looking at tripadvisor, there is a lack of chain hotels in Bermuda which would allow you to redeem points for free hotel accommodation. Only Fairmont seems to be represented which is not a chain where you are likely to have points.