Luxury Beachfront Villa, Boutique Hotel, Cove Spring, Barbados

Description

This Villa is the most luxurious beachfront property in the Caribbean.​Enjoying an idyllic cliff-top position on the prestigious Platinum West Coast of Barbados, This luxurious 10 bedroom estate boasts breath-taking panoramic views of the Caribbean Sea.​ Comprising approximately 20,000 sq.​ ft.​ of living space, It’s beautiful architecture is complemented by sophisticated interior designs and haute-couture furnishings, creating inarguably one of the grandest villas in Barbados.​Set within 1.3 acres, this villa was designed using coral stone, denoting the hallmark of Caribbean aristocracy.​ Its Palladian/Georgian open-architecture brilliantly captures the inherent beauty of the island, maximizes natural light and allows the trade winds to cool the home.​ There are 7 spacious bedroom suits in the main house with an additional 3 in the separate guest cottage.​ There is also a media room, a state-of-the-art fitness centre and a commercial grade kitchen.​Designed for outdoor living so typical of the Caribbean lifestyle, most rooms boast wide verandas opening on to the expansive patio with the free form pool and Jacuzzi and to the stunning sea views beyond.​ At the base of the cliff is a secluded beach with private access only from the villa.​ The property is surrounded by lush tropical gardens providing complete privacy and serenity.​The golden, pink and white beaches on the West Coast of Barbados are sheltered from the Atlantic Ocean’s swells by the island itself, and the Caribbean Sea’s gently lapping waters on this side of Barbados are mostly calm and therefore perfect for safe swimming and snorkelling.​------------Income:Average night occupancy between 20-25 daysRates are US$20,000/Night in summer and US$25,000/Night in winterExpenses are approximately US$300,000/YearPotential income is approximately $6.5M per annumInvestor InformationProperty Type: Hospitality, Mixed Use Subtype: HotelSquare Footage: 56,628 Net Rentable (sq ft): 20,000Price/Sq Ft: $706.36 Cap Rate: 16.12% NOI: $6,450,000Income will be based on comparables*------------Why Invest in BarbadosSTABLE GOVERNANCEAs the third oldest Parliament in the British Commonwealth, Barbados has an enviable record for the management of its political, social and economic affairs. Once known as ‘Little England’, Barbados’ political system has withstood the test of time and earned it the #1 position by Transparency International’s freedom from corruption index in the Caribbean and Latin America. Barbados has undergone several changes in its political administration without incident and successive administrations have exhibited prudence in the management of its economy, contributing to the overall stability of the island nation.VIBRANT ECONOMYSince its independence from the United Kingdom in 1966, this English speaking nation has developed a robust economy with a GDP of USD $4.3 billion, which is the 4th highest in the Eastern Caribbean. In the post-independence period, the Barbados economy has evolved from an agrarian economy to a service-based one led by tourism and international business. The island’s banking system has the distinction as being recognized as the 4th most stable in the Western Hemisphere by the World Economic Forum’s Global Competitiveness Report 2014-2015.AVIATION HUBBarbados’ location as the most easterly Caribbean island makes it a natural hub for both passenger and cargo traffic from the United Kingdom, North America and Europe. The Grantley Adams International Airport manages 2.4 million passengers annually and is rated in the top 10 for the availability of flights per capita and is also world-rated for the quality of its airport infrastructure.INTERNATIONAL AIRLINE CONNECTIVITY* USA: (Atlanta, Boston, Charlotte, Miami, New York)* BRAZIL: (Sao Paulo)* CANADA: (Montreal, Toronto)* UK: (London, Manchester, Birmingham, Scotland, Glasgow)* GERMANY: (Cologne, Munich, Dusseldorf, Frankfurt)* COLUMBIA: (Bogota)EXCELLENT DUTY AND TAX CONCESSIONSThe Government of Barbados has placed a high priority on the Travel and Tourism sector and has received international recognition for its level of investment in the sector, which is a critical foreign exchange earner. Investors in the tourism sector are offered an attractive package of incentives that include a tax holiday for up to 25 years and on expiration of the tax holiday period, a reduction of 50% of the applicable rates and taxes then prevailing in respect of the concessions for a further 15 years.Legislation has also made provision for investors in tourism projects to benefit from:Tax & financial benefits in relation to capital expenditure & interest expenseExemption from import duty, value-added tax and environmental levy in respect of:Furniture, Fixtures and equipment, Building materials, Supplies & Equity financingInvestment LegislationTourism Development ActSpecial Development Areas ActSNVRFor viewings, more information or to secure this property, please contact us* Property ID: 36568* Price: USD$40,000,000* Land Area: 56628 Sq Ft* Bedrooms: 10* Bathrooms: 10* Property Status: FOR SALE* Address The Garden, St James, Barbados* City Bridgetown, Barbados* State/county St.James, Barbados* Country Barbados