The Development Details
St Vincent and The Grenadines          Prices Start From £ 180,000
St Vincent and The Grenadines
Two year 10% rental guarantee followed by 50% net room rate share
The developer will assist investors to obtain finance for completion (Subject to status. Terms & conditions apply)
Managed by a 5* Hotel company
30 days free use per year (excludes SIPP investors)
Sports Academy, Fitness Centre, Spa Treatments by ESPA, Diving & Watersports Centre, Performing Arts Academy
Marina & Helipad
The resort is due to open in Summer 2010
 
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St Vincent is one of the 32 St Vincent & The Grenadines islands, known as Jewels of the Caribbean. Regarded as a sailors’ paradise, the turquoise waters that surround these volcanic isles are considered some of the best cruising grounds in the world and are home to a wonderful array of marine life making it perfect for snorkelling and diving.

Still largely untouched by tourism and with its secluded coves and spectacular backdrops of high mountains cloaked in lush tropical forest and cascading waterfalls, St Vincent is an authentic and unspoilt tropical haven.

Situated on the southwest coast of St Vincent, the resort is a 15 minute drive from both the existing and proposed airports. The wide bay enjoys the calm waters of the Caribbean Sea and is an ideal location for snorkelling and diving.

Built to the highest specification and offering state-of-the-art facilities it will be the first luxurious 5 Star family-oriented resort on St Vincent. The target audience is wealthy tourists who may  currently stay at 4 & 5 Star hotels on other Caribbean islands.

The Resort will be managed and maintained to the highest standard by a world-class hotel company who are confident in providing the highest standards of quality, style and comfort for guests. The resort will also benefit from the efficiency of their global booking system and established online presence which will ensure maximum occupancy throughout the year.

Recognised around the world as the expert in water gardens, award-winning designer Peter May is designing, constructing and planting the ponds which are a key feature of the gardens.

One of the world's leading architects and designers of hotels, Lorenzo Bellini from Rome, Italy, is blending Italian style with contemporary Caribbean influences to create a stunning 5 Star resort that is modern yet reflects the warmth and charm of this wonderful Caribbean island.

The building of the resort is well underway, employing 460 local people, and is due for completion in 2010.

Key Facts

Population 110,000.

Capital Kingstown.

Area
344 sq km/133 sq miles; 29 km/18 miles long 18 km/11 miles wide.

Geography St Vincent is a volcanic island. The northern third of the island is mountainous (parts of this area are accessible only by boat because roads cannot be built on the terrain). The highest point is La Soufriere volcano - 1,234 metres. Most of the island’s population lives near the southern coast. The island has a total of 84 km of coastline. The island has 5 administrative parishes – Charlotte, St Andrew, St David, St George, St Patrick

Time difference
GMT -4.

Language
Official language is English.

Monetary unit
Eastern Caribbean dollar - EC$ (fixed to the US dollar); US dollars are widely accepted.

Airport Local airport, E T Joshua Airport, in Kingstown in the south of the island; an international airport is planned for 2011 +.

Flight times 5 major gateways – Barbados (30 mins) Grenada (30 mins) Martinique (45 mins). St Lucia (20 mins) Puerto Rico (2.25 hrs); 5 x flights daily from Barbados (LIAT).

Climate Tropical climate with little seasonal temperature variation averaging 27°c; average daily sunshine is 8 – 9 hours; seasonal rainfall between May and November.

Location St Vincent is the largest and most populated island of the 32 St Vincent & the Grenadines islands and cays. It is part of the Windward Islands chain in the Southern Caribbean region and lies 100 miles west of Barbados.

Government St Vincent is an ex-British colony and has been an independent state in the Commonwealth since October 1979; Governor General - Sir Frederick Ballantyne; Prime Minister - Ralph Gonsalves.

Economy St Vincent is emerging as a well-governed and regulated financial jurisdiction, the main activities being banking, trusts, insurance and mutual funds. The registration of International Business Companies has also become a strong growth area.

Tourism St Vincent is a new, unspoilt tourist destination. It is currently visited by ocean cruisers from the UK & US for day trips. High season is January to May. There are approx 400 rooms on the island, and no hotel is above a 3 Star.

Why Invest?

St Vincent is a new tourist destination mostly visited by day trippers from ocean cruisers. The number of visitors arriving on the island has increased by 25.5% since 2002 and in 2007 increased by 16.5% year on year. Visitors are predominantly from the UK, USA and Canada. In 2006 total expenditure by tourists was $95.6 million.

Sunny weather all year round makes it an ideal holiday destination at any time.

Currently there are only approx 400 rooms available in hotels on the island, and no hotel above a 3 Star, so there is excellent rental potential for the resort.

Property prices are currently a quarter of those in Barbados so now is the perfect time for an early investment in this market as prices will rise when the resort opens as the island becomes more popular due to the increase in visitors. The proposed International airport, which will be completed in 2011, will also encourage more visitors to the island.

St Vincent is beautifully unspoilt and underdeveloped and has huge potential for growth. The government is actively encouraging foreign investment and growth in the tourist industry. Concessionary rates of tax payable on property have been introduced - for tourism related development where the occupancy tax is applicable and the annual rental value exceeds $20,000 the tax charged is 1.5% rather than the usual 5%. Also a series of other tax incentives have been introduced - hotels with more than 35 rooms are granted 15 years income tax exemption from date of opening of the resort, an approved construction order grants concessions for construction materials for excise duties and consumption tax and resorts accommodating more than 100 people are exempt from import duties on food and beverages.



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