Investment opportunities in Antigua

Early next year property investors will have a new opportunity to invest in one of the Caribbean's best known luxury hotels. Construction work starts in February on a development of luxury suites and penthouses being built as a resort within a resort at the famous Blue Waters Hotel on Antigua.

The new suites and penthouses are being offered on a buy to let basis and with prices starting at just £166,000 for a one bedroom apartment, it is an affordable way to own a dream Caribbean home.

The new development, known as The Cove Residences, comprises 24 lavish 850 sq ft suites, each with spacious living areas and ocean view terrace or balcony. In addition there will be four stunning two bedroom penthouses, each with a Jacuzzi and a brilliantly designed kitchen area. The penthouse prices start at £563,000.

The tropical landscaped gardens spread over five acres will contain four swimming pools, for the exclusive use of Cove owners and their guests.

Both the suites and the penthouses are available on a buy to let basis, allowing the owner to take advantage of six blissful weeks holiday a year, which they can use themselves or offer to friends. The remainder of the year the property will be rented to guests of the resort with a minimal of 6% rental return for the first two years. The property will be managed to five star standards by the Blue Waters management team.

The famous Blue Waters hotel, voted Antigua's Leading Hotel in the World Travel Awards 2006, has been welcoming guests for some 40 years now and the Randall family owners have added their warm family touch for the last 25. The much loved resort is situated beside one of Antigua's 365 stunning beaches and facilities include three pools, two fine restaurants, water sports and a spa.

When the Randalls initially bought the resort it consisted of 30 bedrooms, it has now expanded to accommodate 90 rooms and pure luxury can be found in the shape of The Rock Cottage Villa (built in 1995) which was voted by Harpers & Queen Magazine as "The Best Seafront Villa In The World". The Cove Restaurant has been added more recently and is now widely considered to be one of Antigua's Top Dining experiences and is situated directly next to The Cove Residences.

The Cove Residence owners and their guests will be 10 minutes drive from the Island's capital, St Johns with its fascinating history and delicious selection of both high class luxury boutiques and restaurants. There is the 18-hole golf course at the Cedar Valley club and other activities on this stunning island include horse riding along sandy beaches, scuba diving, sailing, cycling and many more.

Blue Waters new Cove Residences are available through Prestigious Properties UK Ltd, visit prestigious-properties.co.uk.