1 bedroom apartment for sale
Marquis Estate Apartments, Marquis Bay, ST LUCIA
like this property?Call 01283 792392
This property is available with the following number of bedrooms:
Studios from $US 261,145
1 Bedrooms from $US 308,626
2 Bedrooms from $US 340,280
- Distance to Golf: Two 18 Hole Courses On Site
- Distance to Beach: Front line
- 100% FUNDING IS AVAILABLE (including the deposit)
- Only 30% deposit, balance on completion
- 70% LTV guaranteed non-status mortgage available
- 2 YEAR 10% RENTAL GUARANTEE (including 30 days personal usage) followed by AN ONGOING 50% ROOM RATE SHARE
- Two 18 Hole Golf Courses
- Two Years FREE Golf Green Fees
- Fully Furnished
St. Lucia’s largest estate is located just outside of Castries, the Marquis Estate is a 600-acre plantation that dates back to 1723.
Part of the Marquis Estates beauty is found in its original volcanic creation. According to studies, the Marquis area would have been among the first parts of the island to be formed. 70 million years of weathering has created a lush, dramatic landscape of mountain ridges, gentle slopes and the wide graceful river valley.
The North West of St Lucia is steeped in history. The family of Empress Josephine, Napoleon’s first empress, once owned the plantation Paix Bouche just along the ridge southwest of Marquis; St Lucians claim that the first Empress of the French was actually born there and not Martinique.
A civil engineer by trade, the Baron de Laborie became Governor General of the island in 1784. In an island wide campaign he restored and improved much of the islandís infrastructure. A portion of the old French Road ran across the Marquis Estate, remnants of stone walls still remain.
The settlement of Dauphin, the bay north of Marquis, was one of great importance during this time and for a short time was the seat of government. It was blessed with the islandís only stone church and a fort was built on the point of the Babonneau Ridge to protect both the Dauphin and Marquis Bays. It is also believed that the French governor was in residence at Marquis Estate for a brief period.
The Marquis Estate was at one time well established as one of the largest sugar estates on the island, itīs success was partly due to the river which allowed easy powering of the sugar mill by waterwheel, also the bays wide mouth, the widest on the island allowed easy access for the exports of sugar and Marquis rum.
The old plantation home sits atop a hillside with a sweeping view along the fields of the river valley and down to the Marquis Bay. In more recent years, these fields were flowing with the broad leaves of the banana plants. Harry Atkinson, the foremost St Lucian authority on bananas, managed and cultivated the estate. During the 1980ís, the Marquis Estate was the largest banana producing estate on the island.
Many elements from the estateís past can still be found - but one of the most impressive features of the Marquis Estate is itīs lush tropical beauty.
PAYMENT EXAMPLE - 100% FINANCE AVAILABLE
Based on a Purchase Price of £200,000
- To reserve a specific property you will need to pay a £1,000 non-refundable Reservation Fee
- Within 45 days of reserving your property you will need to pay a 30% Deposit (Less the £1,000 Reservation Fee) which is £59,000 (£60,000 - £1,000)
- Should you choose to borrow the 30% deposit (by way of either a secured or un-secured loan), the developer will pay the loan repayments, including interest, for the 30% deposit until completion of the specific unit you have reserved. These payments will then be added to the purchase price upon completion.
- Example: Property price £200,000. £1000 reservation fee paid. The deposit = £200,000 x 30% = £60,000 - £1000 (reservation fee) = £59,000. Interest on £59,000 @ 6% p.a. = £295 per month, paid for 24 months by the developer = £7,080 added to the purchase price upon completion.
- Due to the significantly discounted off-plan contract price and the capital appreciation during the construction phase, it is anticipated that the £200,000 purchase price will have grown to a property value at completion of about £325,000
- At this point a 70% "Loan to Value" guaranteed mortgage is available and you will therefore be able to borrow up to £227,500. This is clearly ample to pay for the £199,000 (purchase price less £1000 reservation fee) that you owe as well as to repay the payments that the developer has paid (£7,080 in the example above) towards your 30% deposit loan
- Assuming you borrowed the maximum loan to value mortgage, available from the example above, you would borrow £227,500 on which the annual interest payment would be £18,200 based on a rate of 8%. The Rental Guarantee of 10% of your purchase price of £200,000 will generate you an income of £20,000 each year, should cover your mortgage payments. If you wish you could retain the £59,000 loan you took out for the deposit, pay the interest yourself each month, from completion onwards, and use the money to invest in a further investment property purchase
- After 2 years the 10% Rental Guarantee will end. At this time you will be able to take advantage of the 50% Room Rate share which is estimated to be worth at least £40,000 per year cash flow
Stage payments are required during the completion phase which can be made as follows
- The developers have an arrangement by which they will be making the payments on your behalf which is being supported by their bankers in the Caribbean.
- The developers will be appointing an independant quantity surveyor who will be inspecting the works undertaken at each stage and on this report the bank will forward the developer the funds related to the work undertaken. The customer will be charged the interest only that relates to the amount of money that the bank releases. The interest rate will be the rate charged at the time by the bank.
- This process gives you the peace of mind that the work is progressing well and that the bank is watching and looking after your investment.
- Once the property is ready the 70% is due, which you can pay in full or within the six months prior to completion, can arrange a mortgage with the bank in the Caribbean.
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- Posh Property International Ltd does not claim to be a Financial or Legal Advisor
- Any investment examples are for illustrative purposes only and cannot be guaranteed