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Other Considerations
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| Features: Garden, Terrace / Deck | ||||||||||||||||
| Amenities: 24 Hour security, Gymnasium, Childrens Swimming Pool, Sauna, Jaccuzi | ||||||||||||||||
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Description: Key Features * 5 star resort set in 41 acres of tropical gardens, state-of-the-art spa and fitness centre, tennis courts, beachfront bars & restaurants, 200m white sand beach and secluded jetty * 70% LTV mortgages offered by one of the Caribbean’s largest banks, enabling investments from £59k plus purchase costs. * International, Luxury hotel management company, West Paces Hotel Group have been appointed to manage and promote the resort * Retaining high net yields after management costs of between 6.9 and 14.3% plus owners will receive 4 weeks personal use a year. * Topography and orientation of the site ensure cool breezes and incredible sea and mountain views * Grenada is a rapidly emerging real estate market and capital appreciation is expected to be around 10% per annum * Annualised return on investment is forecast to be 58% * Well located within 20 minutes drive from the capital St. George’s & Grenada’s international airport * With direct flights available from Europe and North America tourist numbers are increasing annually along with the need to construct high quality hotel beds Description As one of the less developed islands in the Caribbean and with a shortage of high-quality property, Grenada is a wise choice as a property investment destination. With tourism thriving on nearby islands, the Grenadian government are now turning their attention to promoting tourism on their own piece of paradise. Benefits such as tax exemptions and customs concessions for investors in tourism are being implemented, and substantial infrastructure improvements are taking place. As a result, the World Travel and Tourism Council has predicted tourism growth of 2.8% per year between 2008 and 2017, reaching annual tourist arrivals of over 600,000 by 2017. Grenada’s tourist market is supported by direct flights from the UK, USA and Continental Europe, as well as by two downtown cruise ship terminals. The number of tourists staying in Grenada had increased 24% by Q3 2006 when compared to the same period in 2005. and the tourist board claim that 2007 has been the best year in history. As well as Bacolet Bay, a new marina, new commercial centre, a duty-free shopping mall, a planned golf resort and a variety of international hotel brands will be arriving in the island over the next year or so, all of which will increase the island’s desirability. Location Bacolet Bay is only 20 minutes’ drive from Point Salines International Airport and the capital St George’s. As part of the southern coastline it is in a secluded location offering high levels of privacy. With beautiful beaches and water, the bay is expected to rapidly increase in popularity in the near future. Property With 41 acres of tropical gardens, a 200m white sand beach and a secluded bay, Bacolet Bay will offer endless opportunities for relaxation, snorkelling and watersports in an exclusive, luxury setting. The resort will be low-density and will consist of a residential area and a hotel and spa. All owners will have access to an extensive range of facilities including communal pools, hiking and biking trails, sheltered jetty for small craft, tennis courts and fitness centre and to the beachfront bars and restaurants. There is even a wedding chapel. Currently there are only a handful of 5-star hotels and resorts on Grenada. Occupancy rates stand at 89% during the peak season, whilst a conservative estimate for future occupancy rates over the year is 65%. Based on research by resort consultancy Cushman and Wakefield and under the expert management of the West Paces Hotel Group, units at Bacolet Bay should command incomes upwards from $96,000 per annum, plus a guaranteed rental option giving net yields of 9% is offered on the hotel cottages. 70% LTV mortgages are available enabling investments with £59k plus purchase costs. Payment Schedule * US$5,000 reservation deposit is needed to block the unit * 15% (less reservation deposit) within 14 days of reservation date * 15% six months later * 70% of the total purchase price upon completion (predicted April ‘09) What's on Offer? * Hotel Cottages from $430,000 ~ £210k * 1 Bed Villas from $580,000 ~ £283k * 2 Bed Apartments from $400,000 ~ £195k * 2 Bed villas from $925,000 ~ £451k * Luxury Bespoke Villas from $2.5m ~ £1.22m |
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