the property investment experts

Dont miss this Buy to Let investors dream

Posted: 14 March 2008

Palmetto Bay Suites, Barbados

THE DEAL

  • Prices for a Palmetto Bay Suite start from £190,000
  • Upto 100% loan to value funding available
  • 10% of the purchase price paid as a rental guarantee for the first 2 years
  • Thereafter, 50:50 room rate share with the hotel operator ongoing
  • 30 days free personal use per annum
  • Prospect of excellent capital growth
  • Prospect of high rental income return
  • 5 Star Beach and Spa Resort
  • Luxury furnishing pack included
  • Completion end 2010

The ongoing rental is predicted to produce a sizeable income over and above your monthly outgoings.

There is an innovative funding arrangement, which means that you only need to pay a £1000 reservation fee with nothing else to pay until completion.

The developer will pay your monthly interest on the 30% deposit and provide a 70% guaranteed mortgage from completion.

THE INVESTMENT OPPORTUNITY

Barbados is renowned for being a first class international luxury holiday destination with huge demand for hotel accommodation all year round. Located in the Caribbean close to the Equator, it is warm and sunny all year with more than 3000 hours of sunshine.

There is an established property market and returns have been consistent over the years making it very popular with international property investors.

A limited supply of land and a terrific demand for property, combined with a plentiful volume of tourists can only mean one thing to the informed investor – property prices are set to continuing rising!

WHY PALMETTO BAY SUITES?

The Palmetto Bay Suites are located within the lush tropical gardens of the 5 Star Merricks Beach Resort, comprising 70 acres of beach front and cliff top land. Palmetto Bay is constructed to the highest specification with colonial-style architecture.

The spacious one-bedroom suites provide 460 square feet of stylish and elegant living accommodation with air conditioning and a private balcony that has views along the stunning East Coast of Barbados and across the Atlantic Ocean.

Each suite is finished to the highest standard and fully furnished in colonial-style; a luxuriously appointed bathroom, an interactive entertainment system with flat screen TV, internet access, stereo, personal in room safe and telephone.

There is a reception and concierge service within each building to ensure that guests have everything they need and provide them with all the services they require, such as restaurant and spa bookings, arranging taxis and sightseeing tours.

ADDITIONAL BENEFITS

  • All suites are fully furnished together with air conditioning, entertainment system and flat screen TV.
  • Concierge service
  • Selection of swimming pools
  • Island Sanctuary Spa offering luxurious and restorative treatments and therapies
  • A range of sporting facilities and relaxation areas
  • Sports academy offering expert football, cricket, baseball and tennis coaching
  • Fitness centre
  • Selection of bars and restaurants offering fine dining and casual eating
  • Shopping mall and conference facilities
  • Eco-friendly sources of power and waste disposal

The Palmetto Bay Suites meet the high standards and building specifications that you would expect from a 5 star development. The development will be managed and maintained to the highest standards by an independent resort management company with an excellent reputation and proven track record for managing the maintenance and rentals of similar 5 star resorts.

RENTAL COMPARABLES

The table below shows room rates of other hotels in Barbados.

Prices are in pounds sterling per person per night, based on 2 people sharing.

Hotel Star Rating Price per person per night
Sandy Lane Hotel 5* From £800
Fairmont Royal Pavilion 5* From £200
Barbados Hilton 5* From £285
Turtle Beach Resort 4* From £200
Royal Westmoreland 4* From £430
  • Based on a studio apartment at £190,000 with a 10% Rental Guarantee you would receive £19,000 per year for the first 2 years
  • Thereafter, a 50:50 split of the room rate shared with the hotel.
  • Assuming a conservative room rate of £200 per person per night based on 2 people sharing the rate would be £400 per night
  • Assuming a conservative occupancy rate of 60%* the rent receivable would be as follows:

£400 x 365 x 60% = £87,600

£87,600 split 50:50 with the hotel provides a gross income for the investor of :

£43,800 per annum

* The average occupancy rate for similar developments in Barbados is believed to be 80 to 85%

Barbados is an exclusive holiday destination where demand for quality accommodation constantly outstrips supply and the medium to long term prospect for property price growth is substantial.

The Palmetto Bay Suites is a superb opportunity to gain an affordable entry into one of the most thriving and exciting holiday destinations.

We have already bought on this development and would strongly advise you not to miss out on your chance of a Buy to Let property in one the most sought after destinations in the World…..

To reserve your Buy to Let property or for more details on this, or any of our other high calibre overseas property investments, please contact GARY CLAYTON or SARAH HEYWOOD on 0800 038 0000 or 00 44 (0) 1483 748629, or

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