Block |
Unit # |
Floor |
Sq. Ft. |
No. of Beds |
Price US$ |
B |
104 |
Ground |
1817 |
3 |
715,000 |
105 |
Ground |
1372 |
2 |
600,000 |
|
106 |
Ground |
1817 |
3 |
715,000 |
|
204 |
First |
1817 |
3 |
745,000 |
|
206 |
First |
1817 |
3 |
745,000 |
|
D |
110 |
Ground |
1814 |
3 |
715,000 |
211 |
First |
1372 |
2 |
625,000 |
|
311 |
Second |
1372 |
2 |
650,000 |
|
312 |
Second |
1814 |
3 |
825,000 |
Please note price includes all furnishings. Prices are subject to change without notification. |
 |
Diagrammatic view of units as seen from the seaside. |
OWNERSHIP
-
Beach View Condominium Hotel is a 36 unit complex, built in four identical blocks containing 9 condominiums each. 24 condos are 3 bedrooms each & 12 are 2 bedrooms each. The condos surround two large pools, one childrens & the other adult, with very spacious decks.
-
The development is owned by a holding company which will issue 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.
-
Mortgages can be arranged through the developer with a local bank but the mortgage terms restrict liability so that the other owners are not put at risk.
-
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 Condotel Hospitality Management. This company has been established 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 revenue between all owners. No one unit will be favoured over another.
 |
Beach View, Paynes Bay, St. James, Barbados, W.I. |