Property Detail
| LOCATION: | Barbados,Caribbean |
| REF NO: | WP54727 |
| TYPE: | Studio |
| ROOMS: | n/a |
| PRICE: | £115,000 |
International Dreams is delighted to introduce the 'Buccament Bay' resort in the exclusive and un-spoilt Caribbean island of St Vincent. This front line development is the first large five star resort on the island, as to date St Vincent's has mainly been visited by yachts, cruise ships and day trippers. It is situated within just 20 minutes of the island's airport in Kingstown where regular flights to Barbados, Antigua, Grenada, St Lucia, and Tobago are readily available. A new international airport is being constructed, and soon the beautiful island of St Vincent's will have direct flights to major international destinations.
The completion of the resort is scheduled for the end of 2008 and is made up of over 300 villas, 6 Apartment blocks and 40 spa villas all set in exquisitely landscaped surroundings with lagoons pools and a running river. The facilities are what you would expect from a five star resort, and will include a large spa, surrounded by the spa villas, a sports academy including a health and fitness club with state of the art fitness equipment, outdoor activities including tennis courts, football and even a cricket pitch with its own separate academy. The resort will also boast a casino, a conference centre, a beach club with imported yellow sand for the beach, restaurants, bars and kids and teen's club for looking after your children. A mock full size version of the Black Pearl Galion Ship from the film Pirates of the Caribbean, will be permanently docked and will form a restaurant. A planned 18 hole golf course will also be only 10 minutes away. The whole complex will be run as a hotel resort and spa.
Each individual property or apartment is sold on a freehold basis, with the developer licensing the development to a major branded hotel group. A license will be entered into, giving the freeholder a guaranteed rental return of 10% of the purchase price for two years, while the resort establishes itself. After which the hotel group will pay the freeholder 50% of the net income received from the rental of the property. This is done on a rental pool basis, whereby rental income of the apartments and villas is calculated over the average of the pool for the month. If your particular apartment or villa is vacant on a particular night you will still receive rental from the pool. The resort has the advantage of being able to be used for 4 weeks a year, and with rental figures in neighbouring islands and resorts being that of approx $400 per night in low season (studio room) it is an excellent investment; giving approx high yield returns of 15-20% once the resort is established and earning 50% of the net income, with the obvious benefits of owning a property in the most desirable holiday destination in the world.
