40 | OPP AWARDS FOR EXCELLENCE
Best Luxury Developer Caribbean
WINNERS Silver: Freedom Bay, St. Lucia
What did Freedom Bay, St. Lucia, say in its entry form? “Freedom Bay is the fi rst eco-luxury sustainable development on the island, adopting the environmentally friendly hybrid and solar powered golf carts. The architecture of Freedom Bay refl ects and respects the environment, while the properties’ designs defi ne the height of style and elegance and create sensual living spaces.
The luxury resort sits on 77 acres of a listed UNESCO world heritage site. The lush hillside site is at the foothills of the iconic Pitons of St Lucia near Malgretoute on the warm west coats
“All properties are integrated around the natural features of this World Heritage site”
of the island and undulates to a white sandy beach within its own bay. All properties are integrated and oriented around the natural features of this World Heritage site, whether a waterfall, a stream or a magnifi cent tree. It is these indigenous elements that will make these properties unique. The exteriors will be naturally modern, maximizing outdoor living areas and bringing external elements inside. Each home will create an individual statement with a pedigree and character. Every window forms a new perspective, a fresh inspirational vista of the Caribbean Sea or the Pitons. We are responsible towards the local community: 99% of the workforce
employed at the resort will consist of local people from Soufriere and neighbouring villages. The primary contribution to the local economy will come through salaries and wages paid to the local workforce. The hotel will also donate to the community, including scholarship programmes and training initiatives, helping to further develop the talent of young people on the island. We offer a competitive low entry price structure for clients, with good incentives and support for agents. Below are details of our offers:
FRACTIONAL OWNERSHIP VILLAS
Unique selling points:
• 36 one week fractions per property for personal usage or to rent, giving purchasers a unique opportunity to purchase at an affordable low entry level • Prices start from £17,500 per one- week fraction. (We have also fi xed the prices in GBP for those selling in the UK.)
• 25% discount of launch prices for fi rst release villas
• If purchasers choose to rent through the hotel we offer 8% rental guarantee for up to three years and 50% hotel villa occupancy income after the guarantee • Monies held in escrow during build period (estimated two years) earning a guaranteed 6% per annum
• Fractions held by a trustee on behalf of all fractional owners • No maintenance or any other management costs for purchasers • The exit strategy for purchasers is an ongoing fractional ownership sales programme where we undertake to sell an existing fraction with every 4 new sales
• Registry Collection International benefi ts and membership and ability to swap personal use week with other in 4,000 RCI member resorts
www.opp.org.uk | JUNE 2012
What does Freedom Bay do?
Freedom Bay is an international property investment and development company with partnerships and projects around the world. The company is committed to the pursuit of excellence and innovation. The company makes ethical, sustainable investments and engages in communities.
• Developer retains ownership of 30% of each villa, thus ensuring that resort is well managed and maintained as a part owner within the development. • Operated and managed by award winning Six Senses Resorts and Spas Group.
• Product is SIPP-approved by a number of SIPP providers • Prices start from £17,500 per one week fraction
HOTEL VILLAS Unique selling points:
• Six villas available for sale (Three one-bedroom frontline beach villas; two one-bedroom beach villas; one two- bedroom beach villa)
• 25% discount of launch prices for fi rst release villas
• If purchasers choose to rent through the hotel we offer 8% rental guarantee for up to three years and 50% hotel villa occupancy income after the guarantee • Monies held in Escrow by a solicitor earning a guaranteed 6% per annum, when 50% deposit paid
• Developer sponsored mortgages available at 50% of the value of the villa bought • Local bank fi nancing available up to 70% LTV on completion of the villa • No maintenance or any other management costs
• Guaranteed buy back option of 112% after fi ve years.
• Personal usage of up to 28 days per year.
• Operated and managed by award winning Six Senses Resorts and Spas Group. (Memorandum of Understanding already signed at the beginning of this year)
• Prices start from £660,000 for a one bed beach villa.
BUYING A LAND PLOT Unique selling points:
• Only 10 plots available for sale in fi rst release
• Each plot is large, on average 20,000 sq.ft. in size
• Purchasers can retain ownership of the land plot and build a villa at construction costs plus 20% margin (for project management) by phased payments • An option to sell the completed villa back to the Developer for purchase in year 5, at the value of the initial investment plus 50% premium • Interest accrued during construction of 6%
• Completed villas will benefi t from the concierge service of the Six Senses Hotel We are implementing a robust sales
strategy. We want to work with a small effective network of agents who can communicate our passion about the project but equally explain the purchase opportunities properly to clients. We have put in place a competitive staggered commission structure that starts from 10% of the purchase value of the property, paid immediately after client funds are received. We support agents with ongoing training sessions, brochures, presentations, including a strong PR and planned Social Media campaign designed to raise the awareness of the project in the marketplace, together with our product ambassador Andrew Strauss (England Cricket Test Captain).
The project is developed by Malgretoute Hotel Development Company, a St Lucian registered company owned by the UK property entrepreneur Robert Whitton. Whitton has an outstanding track record in property development and investment. He is best known for founding the Aim Group PLC in 2001, which was initially funded by a number of high-profi le investors and transacted more than £3.5bn-worth of commercial property deals in UK and Europe. Freedom Bay will be managed by
Location, location, location| Freedom Bay in St Lucia is situated on a UNESCO World Heritage site
the award wining five star operator Six Senses Resorts and Spas Group.”
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