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The Terraces Spa Resort St Lucia Castries

Price
	£20,000
Reference: STL001

Key selling points

Return of 4% simple per month
This equates to a 48% annual return
Outline planning permission already granted
Land already secured by the developer
Period of investment 12 - 17 months
Invest in land and share in the developers profits

Description

A 21 acre resort on the Cap Estate overlooking the magnificent east coast of St Lucia with the amazing Jack Nicklaus golf course to the north. "The Terraces" offers a superb range of amenities including its own stunning spa centre.

Global Development (St Lucia) Ltd. is a local company whose key personnel have a proven track record in creating this type of resort.

Global acquired the land on 17th March 2007 on an Option Contract for an agreed purchase price of US$4.75m. A deposit of 10% has been paid to secure the contract.

"The Terraces" has a projected gross development value of US$ 136.9m with an indicated gross profit of US$31.12m.

Outline planning permission was granted on 21st November 2007. A revision to the plan was requested and this was approved on 19th March 2008.

Full planning is expected in the last quarter of 2008 / first quarter of 2009.

An independent valuation has now valued the site at US$15.5m.

The developer is looking to secure US$6.75m to complete on the land purchase and to provide professional fees to full planning.

Institutional funding will refinance the project when full planning is obtained.

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