Luxury Caribbean Beachfront Property
Bacolet Bay Resort and Spa, Grenada, Carribean
"Grenada typifies the Caribbean ambience with its laid back attitude, gloriously sandy beaches and friendly people. Bacolet Bay is a stunning example of luxury accommodation in the Caribbean and represents a fabulous investment opportunity."
The Caribbean was once the reserve of the rich and famous, but in recent years with the development of lesser known islands and the growth of tourism, the Caribbean has become a property owners attainable dream.
With its fine sandy beaches, swaying palms, glorious sunshine and laid back way of life, the Caribbean represents for many the perfect escape from busy modern lives. Time seems to pass at a slower pace here and from the moment you relax on the beach, you know you've arrived somewhere very special.
Grenada is the largest of the Grenadine islands and is a popular tourism hotspot. Tourism demand has been anticipated to grow by 2.8% annually with a government backed development strategy.
Bacolet Bay represents a rare and unique opportunity for property purchasers to the Caribbean. Buyers benefit from a mortgage paid for life, with an anticipated rental yield of up to 14% post completion. Purchasing property in the Caribbean has never been more affordable or attainable.
Located in the region of St. David's on the south coast of Grenada, just 20 minutes from the international airport, Bacolet Bay is ideally situated for many of Grenada's attractions whilst also being in a prime location for privacy and for taking in some of the most spectacular sea and rainforest views in the world. With 41 acres of tropical gardens, a 200m white sand beach and a secluded bay, Bacolet Bay is an investment opportunity not to be missed.
With a very low build density, just 12% (which equates to just 5 properties per acre), the resort comprises chic garden apartments and luxury private villas tiered into the hillside to ensure scenic sea and mountain views. Every property has a private pool and all are built to the highest specification and most luxurious Caribbean design.
Few resort locations can boast the spectacular views that owners and visitors of Bacolet Bay will enjoy. The setting is unmatched on the island, combining the benefits of beachfront living with lush valley views.
There are a number of select luxury developments on Grenada, ranging from boutique style to the well known and lavish examples such as Four Seasons. Bacolet Bay will be a superb example of luxury Caribbean living, completed and managed to the highest standard. Few resorts on the island will compare. Investing in Bacolet Bay at this off-plan stage allows you to benefit from substantial discounts, and yet enjoy the same luxuries on completion. The comparables on this page detail just how much of a discount you will receive, but also show by comparison the expected end values and therefore the profit you can achieve by completion.
Development Price per ft2 (Average internal)
Bacolet Bay $460
The Residences $750
Mount Cinnamon $765
Prickly Bay $849
Port Louis $950
Four Seasons $1,600
Bacolet Bay is set to become one of the leading resort destinations in the Caribbean, featuring world-class facilities, outstanding accommodation and luxurious service. All these factors will combine with the sales and marketing expertise of the hotel operator to ensure that properties are let at the highest possible room rates and that the resort achieves the highest possible occupancy rates. Property buyers are required to sign a long term lease (20 years +) with the resort operator who will then manage the property as hotel accommodation, letting it on a nightly basis.
The figures show an average of the return estimates provided by three experts including the Resort Operator, Cushman & Wakefield and another UK based resort consultancy. We therefore believe that the net return figures are realistic yet conservative, specifically in relation to room rates when compared against competitor resorts. It should be noted that these figures are based upon estimates for the first year of stabilised operation.
With mortgages in Grenada typically offered at 70% loan to value and available in either East Caribbean or United States Dollars, an investment in Bacolet Bay can be fully leveraged and not only remain cash flow positive, but do so at a substantial level.
Please ask for these details and they will be forwarded to you.
Bacolet Bay will be an integrated resort, managed to the highest standards. Facilities and services will compare with any world class hotel or resort.
Hotel & Resort - Residents and guests will enjoy impeccable service offered from the main resort reception and other facilities. The hotel reception area is located near the hilltop and offers magnificent sea views to arriving visitors and diners in its A La Carte restaurant. Most dishes that you will enjoy will be prepared almost wholly from fresh local ingredients.
Bars - A variety of bars will be located around the resort allowing residents to choose between sipping chilled Caribbean cocktails on the beachfront or watching from the hillside as the sun sets and the tropical night closes in.
Restaurants - Sumptuous dining areas with ocean views will offer residents the finest haute cuisine. From local Creole cooking to international 5 star A La Carte menus and fine wines, the array of choice will be extensive and will satisfy a variety of tastes. One of the resorts most desirable eateries will be an exclusive over water dining area where you can wonder at the vivid underwater world whilst savouring some of the island's delicacies.
Gym & Spa - Designed by Howard Consulting and set within 2 acres of tropical forest, the spa will provide a haven to all guests and owners at the resort. The central spa will provide a superbly appointed gym and changing facilities alongside a range of thermal and hydro experiences. Whilst outside the natural lagoon-pool is a calm oasis shaped by lush and rich jungle vegetation. Private suites will also be available with their own relaxation pools and experience showers, for guests to enjoy a whole day dedicated to pampering.
Wedding Chapel - Nestling among the palm trees just a couple of metres from the beach, Bacolet Bay resort and Spa have created their own piece of Caribbean romance with a traditional Grenadian Wedding Chapel. With its spectacular ocean views it is the perfect location for the most important day of your life
How to Buy
Purchasing property at Bacolet Bay is a straightforward process split into several convenient stages.
- A refundable* deposit of $5000 is required upon signing the reservation agreement.
- Pre-mortgage application, if finance is required.
- Routine application for an aliens license.
- Upon signing of your contract 30% purchase price is due.
- The remaining 70% is due in line with construction stages.
Our unique and exclusive 100% assisted finance package has limited availability.
100% Assisted Finance
Should you require finance for the initial 30%, the exclusive finance package available only through Barrasford & Bird Worldwide allows you to utilise personal loans or the release of equity, and the developer will give you cashback to cover your interest payments until completion. This means you can buy today with no initial outlay and the remaining 70% doesn't start to be repaid until completion.
On completion, the off plan mortgage reverts to a full repayment mortgage and if you decide to lease your property back to the hotel; the income from this is guaranteed by the developer to cover your mortgage repayments. This means that not only will the developer pay the interest on your mortgage but they will also cover the capital repayments and you can still benefit from a full months use every year whilst they pay your mortgage for you!
This exclusive finance package allows you to couple the cashback on any 30% finance with the 70% mortgage on completion, in addition to enjoying the benefits of the hotel agreement which pays your mortgage repayments and all other property costs; and the result is that purchasing a luxury property in the Caribbean has never been easier!
*Deposit is only refundable should you be unable to proceed due to failing the preliminary applications including the mortgage and aliens land holding license and your deposit contributes to the 30% first payment. Please note the developer is not responsible for the repayment of any loans and your property is at risk should you not keep up repayments on loans secured upon it.
Prices & Availability
Properties at Bacolet Bay resort will take in some of the most spectacular views on the island of Grenada.
Unit Type Average Price Yield
Hotel Cottage $430,000 14.3%
1 Bed Villa $605,000 12.1%
2 Bed Apartment $575,000 12.6%
2 Bedroom Villa $1,062,500 11.3%
Two Bedroom Apartment - The two bedroom apartment consists of an open plan living, dining and kitchen area, 2 bedrooms each with en-suite bathroom. Outside you will find a veranda with a private plunge pool. The total area of the apartments varies depending on the apartment block and floor.
One Bedroom Villa - The one bedroom villa consists of an open plan living and kitchen area. The bedroom is facilitated with an en-suite bathroom, separate toilet and walk-in wardrobe. Outside you will find a 200ft2 plunge pool and private covered and open terrace area. The total area of the one bedroom villa is 1349ft2
Two Bedroom Villa - The two bedroom villa is the newest addition to the Bacolet Bay site. The villa contains an open-plan living, dining and kitchen area. Two bedrooms each with an en-suite bathroom and external shower court. The outside area comprises an open and covered terrace with an additional decking area with a Gazebo for shade, plus a 137ft2 plunge pool. The total area of this villa is 2647ft2.
All of the properties will be constructed using high quality building techniques and dressed in local Carriacou stone. They will include French style centrally pivoted windows and the doors will be manufactured to high standards using hardwoods and high quality glass. All decor and interior furnishings have been painstakingly crafted using the best and most luxurious local materials ensuring all residences have a modern yet natural living space.
The yacht-style kitchens will be finished to the highest standards, complete with all units and sumptuous natural stone or hardwood worktops. Each luxurious bathroom will be finished with natural Coral stone and fitted with high quality sanitary ware by Crane or similar, with elegant touches such as ceramic inset basin, moulded bath tub with shower, heated towel rails, soap dishes and tile framed inset vanity mirror.
For other properties that might suit your needs, please visit the Real Estate of Distinction website - www.reod.com.au.