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Description: Buccament Bay Beach Resort, St Vincent & The Grenadines The Resort We are delighted to announce the opening of the 'Buccament Bay' resort in the exclusive and unspoilt Caribbean island of St Vincent. Not only does this complex offer a beautiful home in paradise, it also offers one of the finest investment opportunities in recent years with prices a quarter of those in neighbouring St Lucia and Barbados. 'Buccament Bay Resort' will nestle in the beautiful bay of the same name. Only a 15 minute drive from the existing and proposed airports, the resort is superbly positioned on the Western coast. Experienced Caribbean lovers will be aware that on neighbouring islands, West coast properties command a substantial premium as they boast the quieter, more sedate waters of the Caribbean sea as opposed to the Atlantic. The finished resort will have a mixture of properties, from studio apartments to four bedroom plantation houses residing in their own landscaped grounds. Facilities will include a gymnasium, full hotel facilities, pools, spa and casino. The cabanas make up the infrastructure of the hotel supplying five star rooms with the freedom of your own private villa. Aimed at the investment market the cabanas come fully furnished with air-conditioning and free occupancy for the owner one month per annum. The whole complex will be run as a hotel, much as the famous 'Plantation Beach' in St Lucia. This provides an excellent investment opportunity and the fulfilment of a lifelong dream to own property in the Caribbean. Rental occupancies for neighbouring St Lucia and Barbados currently run at over 80% and with property prices a fraction of those of it's West Coast neighbours, the rental returns are likely to be incredibly substantial in the next few years. All studios, apartments, cabanas and plantation house come fully furnished to a five star standard as necessary for the hotels envisaged classification. Leisure Restaurants Swimming Pools Tennis courts Fitness Centre Sports Academy Cricket Academy Diving & Water Sports Centre Kids Club Beach Club Marina Casino Shopping Mall Purchase Price Apartments : (Fully Furnished) Hotel Suites from £115,000 Studio Apartment 688 sq ft from £195,000 1 Bed Apartment 827 sq ft from £225,000 2 Bed Apartment 1,139 sq ft from £275,000 2 Bed Apartment (end terrace) 1,336 sq ft from £325,000 Penthouse Suites from £750,000 Cabanas : (Fully Furnished) 1 Bed Cabana 700 sq ft £285,000 1 Bed Deluxe Cabana 900 sq ft £350,000 2 Bed Cabana 1300 sq ft £495,000 2 Bed Plantation Cabana 1672 sq ft £650,000 3 Bed Plantation Cabana 2,064 sq ft £750,000 4 Bed Plantation Cabana 2,524 sq ft £825,000 All of the above come with a 10% guaranteed rental for 2 years, then 5 years 50% net room rate share. Payment Structure £1,000 deposit 30% inc. deposit at signing of contracts (within 45 days of deposit) 70% on completion 100% Finance – Only £1000 to pay until completion! This is an excellent opportunity to invest in a brand new property in any of the above locations with only £1000 ($2000) required. See the example process below: £1000 ($2000) non-refundable reservation fee required for reservation of a specific property. 30% deposit required (less £1000 ($2000)) within 45 days of reservation. Should you choose to borrow the 30% deposit, the developer will pay the loan repayments, including interest, for the 30% deposit until completion of the specific unit you have reserved. These payments will then be added to the purchase price upon completion. Example (Sterling): Property price £200,000. £1000 reservation fee paid. The deposit = £200,000 x 30% = £60,000 - £1000 (reservation fee) = £59,000. Interest on £59,000 at 6% p.a. = £295 per month, paid for 24 months by the developer = £7,080 added to the purchase price upon completion. Example (US Dollar): Property price $370,000. $2000 reservation fee paid. The deposit = $370,000 x 30% = $111,000 - $2000 (reservation fee) = $109,000. Interest on $109,000 at 6% p.a. = $545 per month, paid for 24 months by the developer = $13,080 added to the purchase price upon completion. Due to the significantly discounted off-plan contract price and the capital appreciation during the construction phase, it is anticipated that the £200,000 ($370,000) purchase price will have grown to a property value at completion of circa £325,000 ($601,250) At this point a 70% loan to value guaranteed mortgage is available and therefore you will be able to borrow up to £227,500 ($420,875). This is clearly ample to pay for the £199,000 ($368,000) (purchase price less £1000 ($2000) reservation fee) that you owe as well as the accrued interest of £7,080 ($13,080) - from the above example. Assuming you borrowed the maximum loan to value mortgage, available from the example above, you would borrow £227,500 ($420,875) on which the annual interest payment would be £18,200 ($33,670) based on a rate of 8%. The rental guarantee of 10% of your purchase price of £200,000 ($370,000) will generate you an income of £20,000 ($37,000) each year, should cover your mortgage payments. If you wish you could retain the £59,000 ($109,150) loan you took out for the deposit, pay the interest yourself each month, from completion onwards, and use the money to invest in a further investment property purchase. We would be delighted to answer any further questions you have regarding the exciting opportunity as well as helping you to make your reservation in the Caribbean. Subject to status and conditions apply - please contact us for further information. If cases where we are unable to obtain finance for you, we will be prepared to refund the £1,000 ($2000) reservation fee. St Vincent St Vincent is a stunningly beautiful Caribbean country that has remained largely unspoilt from the ravages of tourism. Up until recently, there has not been a major international airport on the island and country has been able to remain an exclusive and relatively undiscovered jewel of the Caribbean. A new International airport, which is scheduled for completion in 2011, and the English Cricket team playing their warm up games on the island during the 2007 Caribbean World Cup, have fuelled an interest in St Vincent and as such the government have spearheaded this ambitious and remarkable project. The Western coast of St Vincent is no stranger to having its beauty portrayed on film, the Disney film 'Pirates of the Caribbean' was shot in the next bay along from Buccament Bay and the two sequels are currently being shot on the island. Both films are due for release later this year. St Vincent will undoubtedly benefit from a greater public awareness with these major releases. Due to St Vincent being a volcanic island, it currently has darker volcanic sands but the finest white sand is being imported from Guyana to replace the existing beach. Rental occupancies for neighbouring St Lucia and Barbados currently run at over 80% and with property prices a fraction of those of it's West Coast neighbours, the rental returns are likely to be incredibly substantial in the next few years. Key Points: 100% Finance Available! Just £1000 to pay until completion Mortgages available up to 70% LTV, subject to status Managed by 5* Hotel company Two years 10% rental GUARANTEED, followed by 50/50 room rate share 30 days free use per year Rental yields of up to 33% Realistic capital growth of 15% + per annum for the next four years |
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