THE
MARINA VILLAGE APARTMENTS
Due for
completion end February 2006, The Marina Village will compliment
the Marina and the Discovery Resort and Spa, offering high-end
retail and commercial units as well as twelve one and two
bed loft apartments. Situated adjacent to Discovery, there
will be access to the restaurants and bars of the hotel,
plus all the other restaurants and beach facilities around
the bay.
Caribbean architects, Gillespie & Steele, have now finalised
the plans for the colourful one and two storey wooden clad,
concrete and steel buildings, which reflect St. Lucian architectural
heritage. Overlooking the dock and bay, the seven linked buildings
form a U-shape around a central courtyard garden.
Commercial units within The Marina Village are likely to include
a supermarket, bank with ATM cash point, car hire, restaurant,
coffee shop/bakery, art gallery, jewellers and a number of
boutiques and gift shops.
The one and two bedroom apartments are offered on a lease
expiring on 30th April 2103 – 98 years un-expired. The
apartments are available for occupation for 52 weeks of the
year and are not part of the Discovery buy-to-let programme.
It is likely that the developers will set up a Management
company to handle rentals on behalf of owners, but this will
be a separate arrangement to be made between the Lessee and
Doubloon Marina (St. Lucia) Ltd.
All the apartments will have fitted kitchens and bathrooms,
wall and floor finishes and light fittings. The bedrooms will
have air conditioning and large overhead fans. The living
room will have overhead fans.
A non-refundable reservation deposit, payable by either Visa
or MasterCard of US$5,000, reserves the apartment of your
choice. An Agreement has to be entered into within 30 days
of signing the Reservation Agreement and paying the Reservation
Fee. At the time of signing the Agreement, 25% of the price,
less the Reservation Fee, becomes due. Thereafter subsequent
payments are as follows:
• Upon completion of the Foundations - 25% of the purchase price
•
Upon the placing of the roof – 25% of the purchase price
•
Upon Practical completion – 20% of the purchase price
•
Upon Handover – 5% of the purchase price
An Alien’s Licence is required which will be 2% of the
price of the apartment. Stamp Duty will be 2% of the value
of the apartment divided by the un-expired proportion of the
lease, which in 2005 will be 98 years. At the time of selling
the apartment there would be a Vendor’s Tax of 10%.
If the apartment is owned by a St. Lucian company, then by
transferring the shares, only a 0.5% Share Transfer Tax would
be applicable.
Doubloon Marina (St. Lucia) Ltd. will be responsible under
an ‘Operations and Maintenance Agreement’ for
maintaining and cleaning the common areas and a Maintenance
fee will be charged for these services.
| Building |
Apartment |
Floor |
Apartment Area (sqft) |
Price (US$) |
| Size |
Description |
| 1 |
A |
2nd |
823 |
One-bed |
Sold |
| 2 |
B |
1st
/ 2nd |
1305 |
Two-bed |
Reserved |
| 3 |
C |
1st
/ 2nd |
1305 |
Two-bed |
375,000 |
| 4 |
D |
2nd |
1082 |
Two-bed |
325,000 |
| 4 |
E |
2nd |
1025 |
Two-bed |
300,000 |
| 4 |
F |
2nd |
1135 |
Two-bed |
300,000 |
| 5 |
A |
1st |
900 |
One-bed |
Sold |
| 5 |
B |
2nd |
879 |
One-bed |
Sold |
| 6 |
A |
1st |
1343 |
Two-bed |
Sold |
| 6 |
B |
2nd |
1304 |
Two-bed |
Sold |
| 7 |
A |
1st |
1583 |
Two-bed |
Sold |
| 7 |
B |
2nd |
1073 |
One-bed |
Sold |
Service
Charges:
EC $1.20 per sqft per month
Plus every 5 years 1 bed - US $1500
Plus every 5 years 2 bed - US $2500
|
