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Play Your Own Swiss Role In A Tropical Paradise
February 19, 2009Article by Ray Withers
Investing in the tropical paradise of Bacolet Bay, Grenada is more than putting your cash in to a luxurious property – you are also buying in to a chance to tread in the footsteps of shipwrecked Swiss Family Robinson . Bacolet Bay was the location of the famous 1960 Caribbean caper when star John Mills and his ‘wife’ Dorothy McGuire were shipwrecked on a deserted tropical island. In the film, beautiful Bacolet Bay became the desert island home of the Swiss Family Robinson, where they learned to survive against all odds, fight pirates and face the uncertainty of whether rescue would ever come. The family were forced to build and live in a giant tree house, but modern Grenada property investors ‘marooned’ at Bacelot Bay don’t have to put up with any such discomfort. Today, a luxurious five-star resort is under construction, and international property consultants Property Frontiers are offering a chance to buy a slice of film history – like they say, ‘as seen on TV’ in the popular property series A Place In The Sun.
Bacolet bay provides top class accommodation and facilities as a resort set in 41 acres of tropical gardens state-of-the-art facilities, including a leading spa, leisure and restaurant. From £71,550, investors can buy accommodation with a 70% loan-to-value mortgage with returns predicting net yields of between 11.3% and 14.3%
Owners can play out their tropical island fantasies with four weeks personal use per year. Bacolet Bay will feature a holistic spa created by the renowned designers of the Armani spas in Tokyo, Dubai and Milan. This resort features a beachfront wedding chapel, crèche and a private sheltered. Currently, Grenada has a handful of five-star hotels and resorts. Occupancy rates stand at 89% during the peak season, whilst a conservative estimate for future occupancy rates over the year is 65%. An expert management company with a track record in controlling top international resorts will look after your investment. As one of the least developed Caribbean islands, there is a shortage of high-quality Grenada real estate . With tourism thriving on nearby islands, the Grenadian government are now turning their attention to promoting tourism on their own piece of paradise. Benefits such as tax exemptions and customs concessions for investors in tourism are being implemented, and substantial infrastructure improvements are taking place.
As a result, the World Travel and Tourism Council has predicted tourism growth of 2.8% per year between 2008 and 2017, reaching annual tourist arrivals of over 600,000 by 2017. Grenada’s tourist market is supported by direct flights from the UK, USA and Europe, as well as by two downtown cruise ship terminals.
As well as Bacolet Bay, a new marina, new commercial centre, a duty-free shopping mall, a planned golf resort and a variety of international hotels will arrive in the island over the next year or so, all of which will increase the island’s desirability.