Ref: 000010684
Completion: end of 2010
10 year rental guarantee of 7%
Upto 7% discount available
Rental return backed by fidelity bond
Tax efficient ownership
SIPP compliant
Monies held in international Escrow account
This resort comprises of 1244 apartments and duplexes spread over 15 floors, overlooking the stunning Caracola Beach, on the eastern fringes of the island’s main town, Porlamar.
With four different floor layouts to choose from, populated across three blocks, the apartments vary in size from 58.5 m² to 125.8 m² (including terracing), nearly all with their own sea facing terrace.
Construction will be to the highest standard in accordance with stringent building regulations and comes with a 10 year building guarantee. Each apartment will have a fully fitted kitchen (including white goods) as well as climate control air conditioning systems and all other furniture (includes all content required by the rental management company to enter the rental pool). All bathrooms will be fitted out with Roca or equivalent quality sanitary ware. The development will also have plenty of semi-covered parking.
The project is designed to be very eco-sensitive with the use of two layers of bricks with foam insulation, combined with double glazed windows, which make for a thermally efficient environment. The high standards of construction will set the benchmark for others to meet and follow.
Within the resort you will find a multitude of services and facilities, including:
restaurants, bars, spa, gymnasium, beauty salon, high-end retail, swimming pools as well as hammocks, sun beds and chillout areas strategically located throughout the beautifully landscaped grounds.
Relaxation and leisure are common themes which ripple throughout this development. Whether soaking up the sun’s rays in a hammock by the pool, enjoying a relaxing massage in the spa or taking a leisurely stroll around the beautifully landscaped gardens.
For more physically active pursuits there is a broad range of sports to take part in, both in and out of the water. A well equipped gym and a number of swimming pools combine with a variety of outside sports for the more active to let off steam.
Why Invest in this Development?
The resort provides you with an incredible opportunity to earn on your investment through capital growth as well as rental return from your property. If you combine this with the very attractive tax benefits of Isla Margarita and tax efficient ownership, you have the optimum overseas property purchase.
The development is SIPP compliant (subject to terms and conditions)
Guaranteed minimum 7% pa net rental return for 10 years, increasing to 8.25% for last 5 years, if resort occupancy reaches 75% in year 5
Rental return backed by fidelity bond
Last apart-hotel directly on the beach in an area with a shortage of top quality accommodation
Excellent scope for capital growth
The best development on the beautiful Caracola Beach
Shops, restaurants and amenities close by
World class rental and management company
Best-in-class developer with proven track record
Freehold title
Easy purchase procedure
Tax efficient ownership
All Apartments come with air conditioning and all furniture
Low cost of entry (prices from €79,000 - excluding payment discounts)
30% deposit held in ESCROW
Potential minimum investment from only €26,000 (which includes estimate of legal and administration fees)
Rental and Management
This resort provides a genuine hands-off investment opportunity through a
comprehensive management and rental package delivered by the Geneva Hospitality Group. Geneva has been selected to manage this rental package due to their best in class pedigree illustrated through delivery of generous guaranteed rental yields whilst at the same time maintaining your properties to the highest standards.
You can rest assured that your property will be managed and let by one of the best companies in the business.
Payment Schedule
3,000 € reservation fee
Then either:
Pay 30% deposit - less the reservation fee within 28 days (or 90 days for a transfer SIPP) to qualify for a 2% discount
or
Pay 50% deposit - less the reservation fee to qualify or a 5% discount
or
Pay 50% deposit - less the reservation fee within 28 days (or 90 days for a transfer SIPP) to qualify for a 7% discount
On deposit pay 1.5% for legal and administration fees
Pay balance on completion plus additional 1.5% legal and administration fees
Two Bedroom - Apartment Specification
Two bedrooms
Two bathrooms
From 16.38 m² to 46.80 m² balcony area
From 67.86 m² to 79 m² total internal area
From 103,000 € to 175,000 € |
