Caribbean can be a paradise for second homes: but you have to choose wisely. You don’t want to end up in a tourist trap or an area that has been overdeveloped. And if buying into a new development, you want to be sure it’s managed well and properly financed.
The new residences and villas at Sugar Beach, between the magnificent Val des Pitons in south west St Lucia, are all the above and more. The bright white sand, crystalline waters and luscious nature give the location a sense of almost surreal island beauty – indeed, the area is a designated UNESCO Wold Heritage site.
The resort includes 85 luxurious, fully-furnished freehold hotel villas which form part of a rental pool, costing between $700,000 to $2,100,000 (one and two bedroom), and ranging from a spacious 1,064sq ft to 2,272sq ft, and owners are entitled to use them four weeks a year. Facilities, as per luxury hotel group owners The Tides’ five-star USP, include 24 hour butler service, three gourmet restaurants, four bars, a spa, scuba dive centre, kids club, games room, two white sand beaches and a beach club and lounge.
The genius of the rental pool villas is the return on investment owners are guaranteed: there is a 5 per cent per annum rental guarantee for the first 12 months after the hotel opening (scheduled November 2011). Owners will receive a 37.5 per cent share of the total hotel room revenue; which is then returned to the rental pool and split between owners according to the purchase price of the villa.
The resort also includes 31 Private Residences, with five ultra-exclusive homes at Glenconner Beach. They range from two to six bedrooms, with prices from $3,250,000 to $9,000,000. The prices might be high but, what with the extreme elegance of the interiors and breathtaking views of the Pitons and the ocean, they are actually quite reasonable: a comparable villa in Barbados would be 30-40 per cent more expensive.
If you’ve been dreaming of a second home in the sun, Sugar Beach should be top of your list of ways to make the dream a reality. For more info, see www.sugarbeachvillas.com or call 0844 921 0124.