St Lucia offers sustainable growth

238 square miles of lush island tagged ‘simply beautiful’ by its Tourist Board, St. Lucia nestled in the Caribbean, may have previously been overshadowed by the popular island of Barbados, but it is now the hot, hot, hot subject on property investors’ lips.

A period of sustainable growth lies ahead for St Lucia’s property market, especially over the next 5 years in the Rodney Bay area, situated in the north of the island beyond the capital Castries. Six new golf courses are planned within 10 miles of Rodney Bay, and a vast new €250 million marina development is under way. This is where St Lucia’s sailing regatta and the renowned Atlantic Rally for Cruisers (the ARC) has its finishing line.

Projected Annual Return of 30% over 5 Years.
The investment and development company will seed the investment up to €5,000,000.
Total Equity contribution of €20,000,000.
The balance of 75% is divided into 80 slots. Each unit has a value of €250,000.
Finance is being finalised and the project will be developed in 3 phases over 5 years.
Total costs of the development (excluding the land purchase of $28,250,000) are $201,559,547 to develop 232+ units.
Sales prices of units in the business plan range from $630 - $720 per sq foot.

Apartments and villas in St Lucia are around 65 per cent cheaper than comparable property on neighbouring Barbados, only 90 miles away. Given the island’s recent improvements to new infrastructure as a result of the Cricket World Cup earlier this year, property prices are soaring at over 20 per cent per annum. New roads and a revamped airport have made the island increasingly accessible. There are 6 weekly flights direct from the UK using Virgin or BA (Air France and XL Airlines also fly into St. Lucia; a non-stop flight from Milan is also due to start later in the year) and holidaymakers from the States have been flocking to the island. With flight times as little as two and a half hours from Florida, for Americans St Lucia is the equivalent of us Europeans taking a break in Spain or the South of France.

St. Lucia has been dubbed the ‘Jewel of the Caribbean’ and a new marina development in the sought after Rodney Bay area, will embody that concept. The Caribbean Jewel project is ideally located with stunning views over the new marina, to take advantage of all the sailing fanatics looking for luxury boltholes throughout the year. The marina itself will provide berthing for 30 mega yachts ranging from 80 foot to 260 foot, and 231 berthing slips from 40 foot to 80 foot; it will also boast around 50,000 square foot of world class shopping, entertainment and restaurants (development is due by 2008, and associated amenities fully operational by 2009).

The Caribbean Jewel site has approval in principle to develop a 232 unit residential community of luxury villas, beachfront cottages, hillside apartments and a beach club, a popular 36-room hotel already exists on the site. The prices of units for early investors range from $630 - $720 per square foot and with projected annual returns of 30 per cent per annum over 5 years, units are on a first-come first-serve basis.

The investment and development company has international projects based in London, Ireland and Portugal with over €100m+ of private equity, while their UK-based joint venture partners have an excellent consultancy track record, acquiring freehold interests, property portfolios and strategic land sites. They are renowned for their high quality properties and an eye for luxury. With their solid experience and confidence in the Caribbean Jewel project a weighted profit distribution model to protect investor returns will be in place; 70 per cent of initial profits to go to investors.

Overall, given the 150 per cent return you’d expect to make on your original investment, this opportunity offers you the chance to pay off all your upfront costs for your property, plus earn a healthy profit which could go towards your very own mega-yacht in the new Rodney Bay marina.

To take advantage of this superb opportunity, visit hollingworthandassociates.com.