In a saucepan over medium-high heat, combine water, sugar, and honey. Stir in ginger, cinnamon stick, cloves, allspice, peppercorns, and nutmeg; bring to a boil. Reduce heat, cover, and simmer for 25 to 30 minutes. Let cool for 20 minutes, then strain through a fine mesh sieve, or double layer cheesecloth.