Caracola Beach & Spa Resort, Porlamar, Isla Margarita

Full Description

Fully Furnished Apartments From €;79,000 Guaranteed Minimum Rental Return of 7% net for 10 Years!! COMPLETION DATE: December 2010 The Caracola Beach & Spa Resort comprises 1244 apartments and duplexes spread over 15 floors, overlooking the stunning Caracola Beach, on the eastern fringes of the island's main town, Porlamar. With four different floor layouts to choose from, populated across three blocks, the one and two bed apartments vary in size from 58.5m2 to 125.8m2, (including the terrace) nearly all with their own sea view. The project is designed to be very eco-sensitive and construction will be to the highest standard in accordance with stringent building regulations and comes with a 10 year building guarantee. Each apartment will have a fully fitted kitchen (including white goods) as well as climate control air conditioning systems and all other furniture, all bathrooms will be fitted out with Roca or equivalent quality sanitary ware. The development will also have plenty of semi-covered parking. Rental & Management: Caracola Beach & Spa Resort provides a genuine hands-off investment opportunity through a comprehensive management and rental package delivered by the Geneva Hospitality Group. Geneva has been selected to manage this rental package due to their best in class pedigree illustrated through delivery of generous guaranteed rental yields whilst at the same time maintaining your properties to the highest standards. Management by Geneva Hospitality Group ensures that top-quality services are applied to Caracola Beach & Spa Resort, building on a solid foundation of thirty-five years experience. While maintaining a small profile, Geneva Hospitality Group is considered one of the USA's premier Hotel/Condominium management companies. Their experienced, corporate management staff represents a multi-disciplined team of professionals highly skilled in operations, accounting, marketing, information technology and human resources. Geneva's success comes from having an owner's mentality coupled with an operator's experience, addressing that ownership and competent management go hand in hand. In today's competitive marketplace, bigger is not always better. Geneva Hospitality Group is able to maintain traditional small company flexibility while at the same time facilitate the creation of crosscutting teams to support larger customer efforts to the benefit of owners, operators and investors alike. You can rest assured that your property will be managed and let by one of the best companies in the business. The rental agreement is flexible, if you do not enter in to the rental pool when you purchase your property but wish to do so at a later stage you simply give 12 months notice to the Management Company. If at any time you decide to leave, you can do so my giving three months notice to the Management Company. Why Invest in Caracola? Caracola Beach & Spa Resort provides you with an incredible opportunity to earn on your investment through capital growth as well as rental return from your property. If you combine this with the very attractive tax benefits of Isla Margarita and tax efficient ownership, you have the optimum overseas property purchase. Caracola is SIPP compliant (subject to terms and conditions) Guaranteed minimum 7% pa net rental return for 10 years, increasing to 8.25% for last 5 years, if resort occupancy reaches 75% in year 5 Rental return backed by fidelity bond Last apart-hotel directly on the beach in an area with a shortage of top quality accommodation Excellent scope for capital growth The best development on the beautiful Caracola Beach Shops, restaurants & amenities close by World class rental & management company Best-in-class developer, proven track record Freehold title Easy purchase procedure Tax efficient ownership All Apartments come with air conditioning and all furniture Low cost of entry (prices from €;79,000 - excluding payment discounts) 30% deposit held in ESCROW Potential minimum investment from only €;26,000* (excluding payment discounts) *Includes estimate of legal and administration fees Fractional Ownership Also Available Investing in property through fractional purchase has become increasingly popular in recent years. It was pioneered in USA, but has become more popular also for UK and European Investors. The advantage is that it enables Investors to invest a much smaller amount in any one particular property, which in turn makes it easier for them to have a balanced portfolio of various types of investment. Please contact us for further details. You purchase a 25% share in a property at Caracola Beach and Spa There is a 10-year guaranteed rental return of 7% rising to 8.25% One week usage per year at no rental charge (more weeks by normal booking) You may invest through a UK SIPP (Self Invested Personal Pension) or through an Irish Self-Managed Pension Margarita (Caribbean) Tourism Up By 15% When it comes to investment opportunities in the Caribbean, Margarita is something of an undiscovered jewel. Its huge potential arguably owes more to geography than simple economics. It is the largest of three islands in the state of Nueva Esparta, its smaller neighbours being Coche and Cubagua. Margarita sits off the north east coast of Venezuela in the Caribbean Sea. With over 160 Km of coastline there are a plethora of unspoilt beaches for tourists to enjoy all year round. This is great news for investors looking to profit from high-end holiday rental. The large Santiago Marino airport makes this particular piece of paradise extremely accessible; with regular flights from Europe, North America and beyond. Furthermore, ferries to the mainland and flights to-and-from Venezuela add to the convenience. This does not only assist with the practicalities of owning a property in Margarita but also allows continued expansion of the tourist industry. The tourist industry is indeed expanding and this is reflected in the latest statistics. Tourism to the island increased by approximately 14% in 2007 and current figures suggest a further increase in excess of 15% for 2008. Overall, traveller entry between January and April has increased steadily by nearly 300,000 since 2004. All this strongly points towards the prospect of dependable tourist income for those investing in property on Margarita. In short, with blue seas, sandy beaches and money to be made; Margarita is surely the very place every property investor is dreaming about.