Bacolet Bay, Grenada - Luxury Villas
USD $4,500,000
Ref: PPF_151_4941_BacoletLux
4 Bedroom(s), 4 Bathroom(s) |
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5 star resort set in 41 acres of tropical gardens
Managed by one of the worlds most innovative luxury resort operators
Choice of spacious apartments or detached villas all with private pools
World class spa, leisure and dining facilities designed by some of the worlds most prestigious designers
Retaining high net yields after management costs of between 11.3 and 14.3% plus owners will receive 4 weeks personal use a year
Superb, secluded location, but only 20 minutes drive from the capital St. Georges and the international airport
Direct flights from Europe and North America
Deposits from only 5% with nothing to else payable until completion
Annualised return on investment is forecast to be 53%
Description
As one of the less developed islands in the West Indies 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.
Grenadas 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, a limited variety of international hotel brands will be arriving in the island over the next few years or so, all of which will increase the islands desirability.
Location
Bacolet Bay is only 20 minutes drive from Point Salines International Airport and the capital St Georges. As part of the southern coastline it is in a secluded location offering high levels of privacy.
The Properties
Spread over 41 acres of tropical gardens, the Bacolet Bay exclusive resort and spa is nestled amongst tropical flora with breathtaking views across the Caribbean Sea and rainforest covered mountains. This world class premium resort features a 200 metre white sand beach and secluded bay with hotel facililties that are second to none. In addition to a multitude of sporting and leisure facilities, Bacolet Bay will feature a holistic spa created by the renowned designers of the Armani spa in Tokoyo, Dubai and Milan. This 5 star resort features a beachfront wedding chapel, kids club, creche and babysitting facilities, a private sheltered jetty and what promise to be some of the islands best restaurants.
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%. The resort is intended to be run by expert management company. Based on research by resort consultancy Cushman and Wakefield units at Bacolet Bay should command incomes upwards from $65,000 per annum after resort management costs.
Payment Schedule
US$5,000 reservation deposit is needed to block the unit
15% (less deposit) within 14 days of reservation
15% of the purchase price six months after reservation date
70% of the total purchase price upon completion (est. Mid 2009)
Alternative payment schedules, including the option to take out an Exchange Bond and pay just 5% before completion, are available on certain units. Please call one of our Investment Consultants for further details.
More property photographs
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