Beachfront 130 bedroom Hotel for sale with sea view in Christ Church, Christ Church

12,500,000 USD 11,625,000 EUR 9,875,000 GBP

Reference: 242330

Bedrooms: 130
Bathrooms: 130
Floor Size: 10,634 m2
Plot Size: 6.88 hectares / 17 acres

Features

Tennis Court
Hot Tub or Sauna
Possible Extra Dwellings
Potential for Income
Sea View
Parking
Front Line
Walk to Beach
May Require Improvement

Details

Established hotel resort, which is tucked away in a picturesque seaside location with approximately 100m of private beach frontage, on a parcel of land at the rear of the hotel of around 3.5 acres, which had planning permission in 2008 for subdivision into lots for commercial purposes.

It boasts many inviting amenities, including 2 swimming pools, 2 tennis courts, 2 restaurants and bars, and on site laundry facilities, representing an excellent investment opportunity.

The property comprises 2 parcels of land, totalling around 17 acres and includes the main hotel area (situated on Lot 1) and an open area at the back of the hotel (Lot 2).

The hotel offers over 10,000m2 of covered living space which is divided into 130 hotel rooms and suites.

The guests of the previously existing hotel enjoyed 2 separate dining options with seating for 100 and 120 persons, respectively. Other amenities include 2 large swimming pools, 2 Jacuzzis, mini mart, beauty salon, beach bar and conference facility.

The property is being offered unfurnished.

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Barbados Property Buying Guide

1. Registering with a Barbadian Lawyer and the Central Bank of Barbados.

In order to purchase a property in Barbados you will require a registered Barbadian lawyer, their fees will be around 1.5 to 2% of the purchase price (+15% VAT). The buying process will generally take around 3 months. There are not generally any restrictions on ownership by foreigners, except for a formality that, if you are a non-resident, the Barbados Central bank must you give you permission before you may purchase a property. If you fail to gain this permission your purchase will be void. It is required by the Central Bank of Barbados that all money that is brought into the country must be registered. This can be best be handled by your Barbadian lawyer.

2. Signing the Purchase Agreement and Paying the deposit

Your lawyer will be charged with the conveyance of the title, the recording of the deeds and registering the survey plans with the Land Registry. Before you sign the Purchase Agreement and pay the 10% deposit, they will also check the agreement which will have been drawn up by the vendors lawyers. The Purchase Agreement will then be signed by the vendor and the deposit will be held by the vendor’s lawyers. The deposit will be forfeited if at any point after this you decide not to go through with the purchase.

3. The Conveyance

The register search will be carried out by your by your lawyer in order to establish whether the property or land is free from charges or any encumbrances and to establish the title. The conveyance will be drawn up by the sellers lawyer and will be checked by your lawyer. Once these checks have been made you will sign the conveyance and the balance of the funds will be paid. Once you have signed the conveyance it will go back to the venor’s solicitor to be signed by the vendor. Your part of the sale is now complete, all that is left is for the vendor to pay the stamp duty and to transfer the taxes.

4. General Information on Property Ownership in Barbados

Property can be owned in various ways in Barbados. In the name of an individual, through a trust or other entity, or through a foreign or local company. It is not unusual for non-Barbadians to purchase properties through newly formed offshore companies which are outside Barbados, but are registered to do business in Barbados.