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El Yaque Beach - Guacuco Hotel - 1 bed apartment - verEl Yaque Beach - Sea views - 1 bedroom
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| Amenities: Shops, Bars & Restaurants, Gymnasium, In Spa Resort, Childrens Playground | ||||||||||||||||
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Description: Caracola Beach & Spa Resort Caracola Beach & Spa Resort is a frontline beach property development on the picturesque Isla Margarita in the Caribbean. The apart hotel / condo hotel project provides an incredible overseas property investment opportunity through capital growth as well as rental return and the very attractive tax benefits of the Margarita Island. This emerging market in the Caribbean has seen investment from major world leading brands such as Hilton Hotels, Cartier, BMW, Benetton, Tiffany's, Hard Rock Café and MacDonald's. The island does not have a rainy season, is outside the hurricane belt and temperatures are between 24 - 38 ºC all year round. 9 Reasons to Invest in Caracola Beach & Spa Resort
Location Isla Margarita, known as the “Pearl of the Caribbean” is located just off the North East coast of Venezuela. Although situated within the Caribbean, Margarita is not in the hurricane belt. Its natural beauty and tropical climate make Isla Margarita an increasingly popular tourist destination. Visitor numbers reached 2.3 million in 2007, up from 2m in 2006 and 1.5m in 2005. A recent survey indicated a shortage of 110,000 beds on the island. The country shows consistently strong economic growth: As the 8th biggest producer of oil in the world, petroleum revenues have driven growth at yearly levels of over 9% per annum. This emerging market in the Caribbean has seen investment from major world leading brands such as Hilton Hotels, Cartier, BMW, Tiffany's, Hard Rock Café and MacDonald's. The Caracola Beach & Spa Resort is overlooking the stunning Caracola Beach, on the eastern fringes of the island’s main town, Porlamar. The resort is placed beside the Hilton Hotel in a very well communicated location. How to get thereFrom the UK: First Choice operates a direct flight service from London Gatwick and Manchester airports. Flight times are approximately 9 hours. You can fly to Caracas, (35 minutes from Isla Margarita) from any of the following airports: Aberdeen, Belfast, Birmingham, East Midlands, Leeds, London Heathrow, Gatwick, Stansted and Luton. From Europe: Air France, Iberia, Alitalia, Air Europe, Conviasa, Lufthansa, KLM, Condor or TAP Portugal all fly to Caracas. From U.S.A: The following airports have frequent departures to Caracas: Atlanta, Boston, Charlotte, Chicago, Cincinnati, Dallas, Denver, Detroit, Houston, Las Vegas, Philadelphia, Phoenix, San Francisco, Seattle and St. Louis From Caracas there are numerous daily ‘shuttle’ flights to Isla Margarita, with a flight time of only 35 minutes. When flying into Margarita you arrive via Del Caribe International, which IsIa Margarita’s only airport with both international and domestic terminals. Caracola Beach & Spa Resort is just over 24km from the international airport. The drive, along modern roads, takes approximately 30 minutes. ResidencesThe Caracola Beach & Spa Resort Comprises of 1,244 apartments and duplexes spread over 15 floors, overlooking the stunning Caracola Beach. Almost every unit has a spectacular view of the Caribbean Sea. 1 bedroom, 58m², from €79,000 2 bedroom, >85m², €103,000 2 bedroom duplex, 103m², Price on request Each apartment will have a balcony or small garden, fully fitted kitchen (including white goods) as well as air conditioning systems. The residences will come fully-furnished and with a 10 year building guarantee. The development will also have plenty of semi-covered parking. Facilities & ServicesWithin the resort you will find a multitude of services and facilities which includes
Guaranteed Return and Personal UsageThere is a 2 x 10 year bonded guaranteed rental programme; first 7% net (reviewable after 5 years to increase to 8.25%, if resort occupancy reaches 75% in year 5) and then 9% net (reviewable) for the second 10 years. The rental guarantee is bonded by means of a Fidelity Bond, which is an independent insurance policy with Chubb Insurance. Each owner is individually named on the policy as a beneficiary of the policy and is insured for a total of 10 million dollars per annum. If the operator, Geneva Hospitality, were to go bankrupt, each named owner on the policy will receive their income for the full 10 years. You can have personal use of the property if you do not buy through a SIPP (UK owners only). Your usage is limited to certain times of the year and the amount of weeks’ usage will be deducted from the income on a pro-rata basis. The Development TeamThe developer is Mar y Casas Mediterraneas, a well respected Spanish developer since 20 years, in conjunction with the leading Spanish Bank “Banco Guipuzcoano”, as well as other key associate partners. The two compamies Aliva-Stump and Lusmetal Construcciones y Proyectos have been formal partners, as Aliplus, for a number of years, working on a number of key construction projects throughout Venezuela. As a result of this collaboration, they have developed large scale projects such as the expansion of the International Terminal of Maiqueta Airport and La Ceiba Shopping Centre in Valencia. The resort will be managed by Geneva Hospitality, a team of professionals dedicated to exceptional service. Currently managing 12 hotels (8 being apart hotels/condo hotels), the company has a reputation of meeting the highest standards of excellence. Purchase DetailsTo reserve a unit a €3,000 reservation fee is required. There are three payment options;
Full consumer protection with Escrow is offered. On deposit pay 1.5% for legal & administration fees* Pay balance on completion** plus additional 1.5% legal and administration fees* Owners have to pay for property insurance, which is expected to be €60-100 per annum. Construction will start 3rd quarter of 2008 and is planned to be finished in 2010. Caracola Beach & Spa Resort has been given outline approval by a small number of SIPP providers (UK buyers only), including Pointon York, as it meets all the qualifying criteria. Buyers can sell prior to completion (once the development has sold out). *includes estimate of legal and administration fees **Mortgages for the balance are expected to be available prior to completion, secured on the property, backed by the fidelity bond of the rental agreement. Competitive market rates are expected to apply at the time. Every effort has been made to offer information that is current, correct and clearly expressed but there can be no guarantee of immediate availability or absolute accuracy and the information do not constitute advice or recommendation. Neither the author nor publishers are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. We would always recommend that you seek appropriate independent advice. Prices may change and are subject to currency fluctuations. |
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