Prices, Ownership Structure & Mortgage Financing

OWNERSHIP

• Beach View Condominium Hotel is an exciting new 36 unit hotel set on three acres of Barbados' famed West Coast, just steps away from the beach. The condos surround two large pools, one childrens & the other adult, with very spacious decks.
• The development is owned by a holding company which issues one residential share per condominium. Each residential shareholder will be entitled to exclusive possession of the condominium unit to which the Residential shares apply.
• The structure of the company provides for a reduction in the annual land tax & certain benefits applicable to hotel operations.
• Any future sale of a unit is by the sale of the shares. Under Barbados law sale of shares attracts transfer tax of 2.5% & stamp duty of approximately .5%.

MANAGEMENT

• An owner must enter into a rental management agreement with Beach View Property Ltd. This company has been established by the developer with the prime purpose of managing the property as a hotel. All management, reservations & accounting support services will be supplied as part of the agreement.
• All units are sold fully furnished to ensure uniformity of contents. The property is fully serviced to include housekeeping services in all rooms, full night time security & regular pool & garden maintenance.
• Each owner must make his unit available for rent for 9 months of the year but has complete free use of the unit for the other 3 months.
• All expenses & all revenues are pooled thereby offering a fair distribution of net revenues between all owners. No one unit will be favoured over another.