Property Sales
Beach View Condos (3 bed option)
Paynes Bay, St. James, Barbados
Price: BBD$1,358,000 - BBD$1,498,000  Unbeatable value at
Property Type: Apartment / Condo
Development
Bedrooms: 3
Bathrooms: 3
Building (Sq. ft.): 1,814.0 - 1,817.0 sq. ft.
Zoning: Residential
OWNERSHIP AND MANAGEMENT STRUCTURE OWNERSHIP Beach View Condominium Hotel is a 36 unit hotel set on three acres of Barbados’ famed West Coast, just steps away fromthe beach. The condos surround two large pools, one children’s & the other adult, with very spacious decks. The development is owned by a holding company which issues one residential share per condo. Each residentialshareholder will be entitled to exclusive possession of the condo unit to which the residential shares apply. The structure of the company provides for a reduction in the annual land tax & certain benefits applicable to hoteloperations. Any future sale of the unit is by a sale of the shares. Under Barbados law sale of shares attracts transfer tax of 2.5% &stamp duty of approximately 5%. MANAGEMENT An owner must enter into a rental management agreement with Beach View Property Ltd. This company has beenestablished by the developer with the prime purpose of managing the property as a hotel. All management, reservations &accounting support services will be supplied as part of the agreement. All units are sold fully furnished to ensure uniformity of contents. The property is fully serviced to include housekeepingservices in all rooms, full night time security & regular pool & garden maintenance. Each owner must make his unit available for rent for 9 months of the year but has complete use of the unit for the other 3months. All expenses & revenue are pooled thereby offering a fair distribution of net revenues between all owners. No one unitwill be favoured over another (Attached to the listing for your perusal under attachments).
Amenities
  • Air conditioning
  • Beach Access
  • Breezy location
  • Ceiling fans
  • Close to beach
  • Communal facilities
  • Communal swimming pool
  • Enclosed Gardens
  • Established gardens
  • Family location
  • Furnished
  • Patio
  • Private location
  • Restaurants close by
  • Sea Views