St Vincent – The Caribbean you are looking for

Hon. Glen Beache, the Minister of Tourism for St Vincent and The Grenadines said the Caribbean island nation is committed to being 'the Caribbean you are looking for'. And, through the development of Buccament Bay Resort on the west coast of the largest of the Islands, St Vincent, it looks like Mr Beache’s vision will come to fruition.

Practically untouched along its coastline, St Vincent has awe-inspiring scenery with palm-cloaked mountains, tumbling waterfalls and lush vegetation which earned it the setting for the Pirates of Caribbean trilogy – a major kick-start for a still embryonic tourist industry. Over 200,000 cruise passengers tested their sea legs on the Island last year and with a chain of 32 tiny islands to explore, the sailing here is amongst the best in the world. However, a quick read of the plans afoot for Buccament Bay and it’s clear that this is just the beginning.

Chris Sawyer, Caribbean expert for GEM Estates comments, “At this moment in time there are only a handful of hotels and therefore practically nowhere for tourists to stay, so the local authorities have welcomed the development of Buccament Bay with open arms. The resort will bring the Island’s first casino, the Island’s first conference centre and wedding-white sand will be shipped across from Guyana to disguise the natural black sand. In order to make guest’s arrival a smooth experience, the developer has helped to modernize the airport, fill potholes in the road and even purchased three airplanes and two seaplanes to charter clients to the resort from Barbados’ International Airport - although St Vincent’s own international airport is due to open in 2011 in Argyle just 15km away from the resort.”

Chris continues, “With the developer now the second largest employer on the Island after the government, with almost 500 staff, the government has even passed a special act to express their thanks to confirm that purchasers will pay no income tax, capital gains tax or inheritance tax indefinitely. Compound the fact that property prices are around one fifth of the west coast of Barbados and the developer is marketing Buccament Bay below market value, the investment case here is very strong.”

In order to attract high-calibre five star guests to the resort, which comprises one and two bedroom apartments, one and two bedroom cabanas and two three and four bedroom plantation villas, it will have some of the most unique facilities ever seen. A replica hand-built solid wood ‘Black Pearl’ pirate ship will be moored offshore as a floating restaurant and a 20,000ft² Spa with treatment suites as well as Yoga and Pilates will occupy ‘Spa Island Sanctuary’, a drawbridge-accessed six acre island with luxury butler-serviced cabanas and a private restaurant – ideal for honeymooners and other VIPs. A sports academy with tennis, football and cricket coaching will be on-hand for the energetic as well as a diving centre offering PADI tuition. Bars, restaurants and boutiques will satisfy a more leisurely taste.

Environmental considerations have not been forgotten, Buccament Bay will be powered by a biodiesel generator, water will be recycled into grey water for garden irrigation and all trees in the path of construction have been lovingly replanted and shoots taken for new offspring. The lagoons coursing between the cabanas will teem with Koi Carp – not only beautiful to look at but also feasting on mosquito larvae thus keeping populations low and, in a nod to the possibility of heavy rainfall, the developer has additionally chosen to elevate the land by between three and a half and six feet to prevent flooding, whereas the professional study only advised seven to nine inches. There will be nothing left to chance.

Thanks to some clever financing options Buccament Bay is available for just £1,000 representing the non-refundable reservation fee and thereafter the purchase is 100% finance. In each case a 30% deposit is required within 45 days of reservation. If you opt for finance, not compulsory, the developer will cover the loan repayments including interest until completion and simply add on the cost of those payments to the purchase price upon completion. On a property of £200,000 that would mean an additional £7,080 on the purchase price based on an interest rate of 6%, a figure that will undoubtedly be swallowed up in capital appreciation when the property is bank valued at completion. Buccament Bay also has a 10% rental guarantee in place for the first two years after completion (50% of the net room rate share thereafter) generating an income of £20,000 each year, enough to cover mortgage repayments.

Prices from £115,000 for a hotel suite, one bedroom cabanas from £285,000 and two bedroom plantation cabanas from £495,000. The whole complex will be run as a hotel meaning that all units come fully furnished to a five star standard.

For further information, visit gem-estates.com.