Long Island is one of the most beautiful islands in the world according to Christopher Columbus - and he saw a few! The Port St George development represents the first real investment opportunity on this stunning and still largely untouched island. Seeking to follow the successful model of surrounding islands, the developer's master plan includes a first class marina and championship golf course. To fund this development, early investors are being given the opportunity to participate in potential returns normally only available to large scale developers. The offer is as follows:
• Purchase a freehold plot of land at Stella Maris. Most have sweeping views of the Caribbean Sea, the Atlantic Ocean or in many cases both
• Minimum plot size is a generous 1/3 of an acre and each plot has planning consent for a minimum of 4 dwellings
• Prices range from US$100,000 to US$400,000 (as per valuation in January 2006, prices have risen strongly since this date)
And here’s the best part...
• Each initial plot of land purchased provides the investor with the ‘Right to Buy’ property in the adjacent marina and golf course phase of the Port St George development at heavily discounted prices
• The ‘Right to Buy’ allows the investor to purchase a 15,000 sq ft (approx 1/3 acre) plot of land on the professional golf course near the 5 star hotel, from only US$320,000 with an option to also purchase 35ft of slippage in the marina for an additional US$70,000
• Similar sized golf course plots of land on nearby Bahamian islands start at around US$700,000 (www.emeraldbayresort.com) creating the potential for instant and significant profit on the sale of any of these plots of land either developed or undeveloped
• Similar sized marina slippage sell at US$300,000
• By the way, the ‘Right to Buy’ agreements are fully assignable and some early investors are already realising good profits by selling theirs
• As an additional bonus, the ‘Right to Buy’ contract contains a clause which allows the investor to sell their initial plot of land back to the developers at the price they initially purchased it for. This provides a means of part-financing the purchase of the US$320,000 plot of land in the resort.
What’s the motivation for this you ask?
Simple economics. The developers need cash inflow now to fund the initial land purchase. Ownership of the land, free from borrowings and with the required consents, will allow them to finance the construction of the marina & golf course. Cash flow is significantly more valuable to them now than in 2 years’ time when they are confident of enjoying significant profits from selling the remaining land & buildings. So, to generate cash flow now, they have created very attractive incentives for early investors.
Click here for full Port St George Investment Prospectus
