The island of Exuma in the central Bahamas is the fastest
growing island in the archipelago. Famed for its pristine turquoise waters,
white powdery beaches and idyllic climate, Great Exuma stretches lazily
across the Tropic of Cancer only 300 miles off the coast of Florida.
Accessible via direct flights from the United States and via Miami or Nassau from UK/Europe, it is hardly surprising that international investors are now developing major projects on the island, making Exuma the hottest destination in the booming real estate market.
Accessible via direct flights from the United States and via Miami or Nassau from UK/Europe, it is hardly surprising that international investors are now developing major projects on the island, making Exuma the hottest destination in the booming real estate market.
On this island of unparalleled beauty is the setting
of this site, directly on the beach and just 3 minutes away from the Emerald
Bay Resort and the five star, Four Seasons Hotel.
It is the nearest officially zoned Hotel designated site to that resort
and consists of 1.3 acres with 300 ft directly on 2 miles of sandy beach.
There are two existing condo/apartment blocks, each containing 4,800 square feet of concrete block construction and both centrally air-conditioned. There are two separate laundry rooms. The apartments are fully rented year round to two major North American corporations for their senior staff.
There are two existing condo/apartment blocks, each containing 4,800 square feet of concrete block construction and both centrally air-conditioned. There are two separate laundry rooms. The apartments are fully rented year round to two major North American corporations for their senior staff.
The block nearest the beach has 7 apartments:-
- THREE (3) two storey, 2 bedrooms, 1 ½ baths apartments
- FOUR (4) one storey, 1 bedroom, 1 bath units
The second block has 5 apartments:-
- TWO (2) two storey, 2 bedrooms, 2 ½ bath units
- ONE (1) two storey 3 bedrooms, 2 ½ bath unit
- TWO (2) one storey units with 2 bedrooms & 2 baths
All income is tax free as the Bahamas has no corporate, income or
profits taxes.
Under the Hotels Encouragement Act the Government of the
Commonwealth of the Bahamas will exempt the owners from Real Property Tax
for 20 years beginning from 2000. Other benefits for future refurbishment
or new facilities may be applied for under the terms of the Act.
Only 50% of the site is developed with these apartments and further buildings to maximize its potential will be allowed. Alternatively, the site can be completely redeveloped in place of the existing buildings.
Only 50% of the site is developed with these apartments and further buildings to maximize its potential will be allowed. Alternatively, the site can be completely redeveloped in place of the existing buildings.
Major benefits of this business opportunity are:-
- Direct Beachfront location.
- Closest proximity to the Four Seasons Resort.
- Existing rental income with quality clients - tax free.
- Potential for a further 50% development or
redevelopment of entire site. - Opportunity of changing to condos or timeshare
usage in place of existing rental arrangements. - Government tax free allowances.