When Will Construction Be Completed And How Many Units Will Be Constructed?
Construction is scheduled to commence between 4th Q 2015 and 1st Q 2016, with operations to begin 2 years after initial construction is complete. Cades Beach Resort will be constructed in three main phases.
Construction Phase 1
- Preparation of Land: Clean-Up and Beach Preparation, Excavation, Landfill and Rough Grading Activities.
- Building: Beach Club, Restaurant, Fitness Center, Spa & Pool.
- Building: The Terraces, Hotel Building: 20 Resort Studios and 5 Master Suites. Back of House Operations: Laundry, Security, Receiving and Offices.
- Landscaping: All areas listed in Construction Phase 1.
Construction Phase 2
- Building: Colonial & Regal: 50 Resort Studios and 5 Master Suites.
- Landscaping: All areas listed in Construction Phase 2.
Construction Phase 3
- Building: Main Street, 20 Resort Studios and Commercial Spaces.
- Landscaping: All areas listed in Construction Phase 3.
Will A Prospective Buyer Be Able to Purchase A Specific Unit?
Yes. All of the hotel suites will be sold in full ownership with freehold title to a specific Villa or Suite.
What Is The Pricing Structure?
Cades Beach Resort is now offering Hotel Units for sale constructed during Phase 1. Once all units have been sold, Cades Beach Resort will begin offering the residences that will be constructed during Phase 2: Colonial and Regal developments. The following graphic illustrates the price per hotel unit offered for sale during Phase 1.
Resort Studio Suite US$ 450,000
Resort Master Suite (2-Bedroom) US$ 800,000
Does Purchasing A Residence At Cades Beach Resort Qualify A Buyer For Citizenship?
Yes. Under the Citizenship by Investment Programme, qualified applicants must make a minimum real estate investment of US$ 400,000. Every hotel unit at Cades Beach Resort meets the current minimum investment requirement. In addition, Cades Beach Resort will provide owners with assistance throughout every step of the citizenship application process.
Can I Come And Stay At The Resort?
Each Owner will be entitled to 14 usage days during the year.
While staying at Cades Beach Resort, owners will have access to daily housekeeping, concierge services, and use of the health club, spa, swimming pool, beach club, and library. Services included within the room rate of hotel guests will be offered free of charge to owners.
The resort will also enroll in a Resort Exchange Programme allowing owners to use a portion of their allotted nights at participating resorts around the world.
Will An Owner Always Stay In The Same Hotel Unit?
No. To provide more availability and flexibility, owners have equal access to all residences within the same category type purchased. Owners may request the residence they purchased, which will be granted if possible, subject to availability and Cade Beach Resort's reservation procedures.
Will Owners Receive Rental Income?
Yes. Destination resort hotels, Cades Beach Resort, often take 3-6 years to achieve mature rentability and maximize profits. Combine this with the estimated construction time of 2.5 years, and the mandatory holding period will be completed before projected.
In order to maintain a healthy investment opportunity for the owners, the developer is offering a guaranteed lease of the hotel units. This guaranteed lease-back will generate the following annual returns during the initial 5- year holding period:
- 4% annually during the resort construction phase
- 4% annually during the operation phase
After the initial 5-year period, all rental income returns are directly tied to the profitability of the resort.
Are There Additional Payments Associated With Cades Beach Ownership?
No. During the initial 5-year holding period there are no additional expenses.
After the initial 5-year holding period, owners are expected to pay a Regular Annual Assessment to cover the typical costs of maintenance, professional management, and operation of the residences and facilities. These assessments provide funds for staff salaries, supplies, interior maintenance, exterior maintenance, landscaping, trash removal, legal and accounting fees, fuel, utilities and insurance.
After The 5-Year Holding Period, What Are The Estimated Assessments?
The assessments for an owner of hotel suite are estimated to be US$ 19 - US$ 20 per month.
However, rental income from Cades Beach Resort is likely to offset the regular annual assessments.
How Will The Owner Sell Their Units After The 5-Year Holding Period?
The Cades Beach Resort has established a reputable resale progamme with real estate and immigration agents to assist in selling units after the mandatory 5-year holding period.
Will An Owner Be Able To Resell Their Ownership Interest In Cades Beach To Another Buyer Interested in Citizenship?
Yes. Purchasing an ownership interest in Cades Beach Resort has many advantages, namely that the real estate investment is a completely recoverable investment. If an owner purchased real estate to obtain citizenship, then as long as the owner keeps the investment for a period of 5 years from the date citizenship was granted (the 5-Year Holding Period), he or she will be able to resell their ownership interest to another buyer for citizenship. On the other hand, if an owner purchased real estate as a lifestyle option (and not to obtain citizenship), the owner may resell their ownership interest to another buyer at any time for citizenship.
Are There Any Other Privileges Included In Ownership?
To help you begin your new international lifestyle, each owner will also receive these additional benefits:
- Nevis Mailing Address
- Nevis Offshore LLC Company Formation
- Account at Bank of Nevis – International
- Secretary and Virtual Office Services Are Also Available (additional cost)