Luxury apartments at Merricks, Barbados selling out

23 January 2007

Principal International a leading overseas property investment company has confirmed that most of the apartments at Merrricks Resort Barbados offered for sale have now been sold.

The luxury hotel and spa complex which is due to start construction early this year has wowed investors with the fantastic low deposit and off plan discount scheme offered. Reservations were made with only £1000 down and the balance of the 30% deposit being paid 45 days later.

Simon Ryeland, Director of Principal International confirms that there are still a small number of cabanas available on the development, and with prices starting from as little as £295,000 it’s unlikely there will be many left by the end of the month.

In addition, excellent funding packages have been made available with a 10% rent guarantee for 2 years and a 50% room rate share for 5 years thereafter, so the properties are being snapped up before the imminent price rise .

Principal International have also managed to arrange guaranteed low rate mortgages for the 70% balance, all of which will be covered by the rent guarantee in the first two years. Due to the buoyant property market in Barbados and the capital growth during construction, these properties are not expected to disappoint investors.

This luxury development which is due for completion in March 2009 has been tipped to be one of the top 5 star resorts in the area. The hotel and spa operator has yet to be named , but expected to be one of the worlds leading brands of spa hotels; this coupled with the high quality interiors and furniture packages makes the low prices and funding arrangements too good an opportunity to miss.

Simon Ryeland confirms that there may be a new phase at Merricks being released shortly . Full details of all available property can be found on Principal International’s website http://www.principalinternational.co.uk/property/the-merricks