Project Plot of land for sale with sea view in Beach Front, Saint James, Saint James

8,500,000 USD 7,905,000 EUR 6,715,000 GBP

Reference: 239274

Plot Size: 0.51 hectares / 1.25 acres

Features

Potential for Income
Sea View
Garage
Front Line

Details

Unique opportunity to acquire a 1 1/4 acre plot of land with planning permission for a luxury 7 bedroom villa with 2 bedroom cottage, enjoying wonderful sea views from its idyllic beachfront location near all amenities in Saint James.

Situated in Weston, St James on the west coast of Barbados, this magnificent property has been designed by the renowned architects,Gillespie and and Steele.

It is within minutes from a market that specialises in fresh fish daily and the vibrant Holetown where there is highly rated dining and shopping. Apes Hill Club, Royal Westmoreland and Sandy Lane, all world class championship golf courses, are within 5 minutes drive.

Specifications :

Villa Ground Floor: 7,148 sq ft. Villa First Floor: 6,727 sq ft

Gazebo - 289 sq ft

Car Port - 946 sq ft

Cottage - 1,562 sq ft. Staff Ground Floor - 342 sq ft

Staff First Floor - 342 sq ft

Total Floor Area: 17,356 sq. ft

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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.