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About this 2 - Flat |
Key Features
* Hands-Free management with 10% net yields guaranteed for 5 years plus 2 weeks personal use per year
* Experienced development team, the President of which is chairman of the travel foundation (www.travelfoundation.org.uk) and the Tobagonian Chamber of Commerce and is also the owner of the successful Toucan Inn & Bonkers
* 65% LTV mortgages are available offering investments with just £36k cash plus purchase costs
* TUI have issued a ‘letter of intent’ for the resort
* Tobago is No. 1 ‘eco-tourism’ destination
* GDP increased by 12% in 2006
* Largest supplier of LNG to America
* Energy Sector grew 20% in 2006 encouraging vast amounts of investment
* Tourist demand set to grow 15% in 2007 and then 4% annually for the next 10 years
Description
Trinidad is one of the Worlds’ “tiger economies” supplying 70% of all natural gas to the US and being the world’s largest producer of ammonia and methanol, its GDP grew 12% in 2006 and has become one of the Caribbean’s wealthiest countries. In contrast its sister island, Tobago, remains beautiful and unspoilt with an economy focussed around agriculture and, more importantly, tourism.
Tobago’s government are committed to a restricted and sustainable program to carefully control and enhance Tobago’s tourism industry, whilst retaining the charm that has earned it the World Travel Awards ‘best eco-destination’ award for the last 3 years.
The Tourism Development Company of Tobago (www.tdc.co.tt) has identified that there is a shortage of over 700 beds on the island. With hotels currently at 85% occupancies and growing pressure from tour operators and airlines alike to increase capacity, the demand for bed stock in Tobago is at an all time high – making this a perfect time to invest.
Location
Tobago is the last true Caribbean hideaway. Covered in jungle, this tiny island is home to the oldest protected rainforest in the Western hemi-sphere and an incredible natural habitat. With Greenback turtles nesting on the beaches, tropical fish hidden amongst the wrecks and reefs surrounding the island, and parakeets in the preserves, this is a nature-lovers paradise. Located in the south Caribbean, outside of the hurricane belt it offers tourists a year-round destination.
Indigo Bay is located overlooking the 2 miles of beach at Little Rockley Bay on the south of the island just 4 miles from the Crown Point International airport, to which 6 international airlines currently fly – including Virgin Atlantic and British Airways.
Property
The 79 apartments at Indigo Bay are in such high demand that TUI have issued the developer with a letter of intent for the whole complex stating room rates of $150 per night. Virgin Holidays are also keen to get the contract. With this in mind the developers are happily offering investors a leaseback agreement of 10% net yields for 5 years. Plus, to ensure investors don’t miss out on the beauty of this island paradise this contract comes with 2 weeks personal use per year!
Using a 65% LTV completion mortgage, investors can purchase an apartment with just £35k plus purchase costs, enabling a cash-flow positive investment.
Amenities
* Restaurant
* Bar
* Gym
* Swimming Pool with swim-up bar
Payment Schedule
* $10,000 deposit upon signing the reservation agreement.
* 25% payable upon signing the SPA (est. Jan 2008).
* 10% payable upon completion of the foundations (est. Feb 2008).
* 65% (less the $10,000 reservation deposit) upon completion (est. March 2009)
What's on Offer?
* Studio (66.3m2) = from $202,215 ~ £99,000
* 1 bed (from 82 m2) = from $246,000 ~ £120,000
* 2 bed (from 99.5m2) = from $398,000 ~ £194,000
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| City/Town: |
Tobago |
| Address of Property: |
Indigo Bay, Tobago |
| Postcode/Zip: |
0000 [map] |
| Bedrooms: |
2 |
| Reception Rooms: |
1 |
| Bathrooms: |
more than 12 |
| Type of Property: |
Flat |
| Price: |
USD 398000.00 [convert] |
Features |
| Central Heating: |
None |
| Burglar Alarm: |
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| Parking Facilities: |
Off Street |
| Gardens: |
Front |
| Double Glazed: |
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| Near Shops: |
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| Near School : |
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| Loft: |
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| Utility Room: |
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| Patio: |
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Extra Features |
| Air Conditioning |
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Area Information |
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Contact Information |
| Email Seller: |
Email Seller |
| Contact person: |
Property Frontiers |
| Advertiser Type : |
Private Seller |
| Phone: |
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| Sellers City, County : |
Oxford |
| URL: |
102 - 104 St. Aldates |
| Map: |
View property location |
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See other listings by this user (0) |
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Additional photos
Demo version
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Demo version
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| Loan |
Typical APR |
| Moneyback Bank Loan |
7.8% |
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| Bank of Scotland Personal Loan (Semi-exclusive) |
8.6% |
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| Halifax Personal Loan (Semi-exclusive) |
8.6% |
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| Alliance & Leicester Personal Loan |
8.7% |
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