Merricks Residences - apartments, penthouses & Cabanas in Barbados
Merricks Residences in Barbados is luxury Caribbean real estate development situated within 70 acres of a lush Caribbean paradise next to the secluded Half Moon Beach and on a cliff top location in the stunning South East Parish of St Philip.
This luxury residential property investment and resort development with apartments, penthouses and cabanas will boast a sea front location and will include a 5 star Hotel and Spa. As a residences owner, you will have full use of the hotel facilities as well as a coral sanded beach.
You will have 30 days personal use a year offering the chance to enjoy a luxury lifestyle whilst enjoying a lucrative investment.
9 Reasons to invest in Merricks Resort, Barbados
- Enjoys a secluded beach and superb cliff top location
- 10% rental guarantee for 2 years followed by 5 year 50% room rate share, where expected rental returns can be up to 25% p.a.
- 30 days FREE use per year
- Managed by world class 5* hotel operator
- Up to 100% finance available (subject to status)
- Fully furnished to a 5 star standard including flat screen TV. Included in the price for studios, apartments, penthouses and cabanas.
- Realistic capital growth of 15% + p.a. for the next 4 years
- You will have full use of the facilities of the 5 star Merricks Hotel and Spa including swimming pools, tennis courts, gym, a conference centre and bars and restaurants
- You are allowed to sell your unit prior to completion
An Excellent Investment Opportunity in Popular Barbados - A 5 Star Property with 10% Rental Guarantee, 30 Days FREE Use per Year and 100% Finance
Barbados is arguably the Caribbean's most well known and sought-after destination, famed for its friendly locals, stable government, treasured coastline and balmy climate. As a result, Barbados has an established and growing travel and tourist industry which is expected to grow by 4.6% per annum between 2007 and 2012. From an investor's point of view, the anticipation of continued demand and limited supply means purchasing property on the island therefore offers a promising potential.
The privileged location of this development with its close proximity to the airport and its secluded beach makes Merricks Resort a fantastic opportunity to own a luxury villa in the Caribbean and capitalise on the equity growth expected within the next 4 to 5 years on the east coast of Barbados.
All owners are allowed 30 days personal use a year offering owners the chance to enjoy a luxury lifestyle whilst enjoying their lucrative investment.
Only 15 minutes by car from the International Airport and 20 minutes from the buzzing capital Bridgetown, the resort is easily accessible and within easy reach of the island's amenities.
There are several flights from the UK and Virgin intends to increase the number of flights to Barbados once the Merricks is completed. In recent times they have reduced the number of flights because there was insufficient high quality accommodation available to fill demand.
Fantastic Facilities
The benefit of buying one of these prestigious homes is that you will have the full use of the facilities of the 5 star Merricks Hotel and Spa, which includes
- Swimming pools
- Tennis courts
- Spa, managed by a well known spa management company
- Gym
- Restaurants
- Bars
- Local shops
The developers of Merricks Resort are creating a beautiful, tropical setting with water features and the planting of many palm trees, banana plants and many sub tropical flora which will create a wonderful, relaxing setting with walkways between the water features to create an idyllic setting.
Residences
There is an impressive range of residence types to suit every lifestyle. The development will consist of 101 Cabanas and cliff-top villas and 600 studios, apartments and penthouses.
Apartments: Studios, one and two bedroom apartments boast stunning ocean views and private balcony. There are also two-bedroom units with a wrap-around balcony.
Penthouses: Boast a private plunge pool, stunning ocean views and a fantastic wrap-around balcony.
Cabanas: Semi-detached Villas. Boast a private plunge pool and private lanai area. All Cabanas will be no further than 500 meters from the sea and the beautiful Merricks Cove secluded beach.
Resort units come fully furnished ie studios, apartments, penthouses and cabanas, at no extra cost.
| UNIT TYPE | SIZE (LIVING SPACE), INDOOR |
PRICES FROM
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PRICES FROM (
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PRICES FROM (
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| Apartments | |||||
| Studio (Palmetto) | >460 sq ft |
£200,000
|
£210,000
|
£220,000
|
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| Studio | >688 sq.ft |
£235,000
|
£240,000
|
£245,000
|
|
| 1 bedroom | >827 sq.ft |
£280,000
|
£285,000
|
£290,000
|
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| 2 bedroom | >1,139 sq.ft |
£335,000
|
£340,000
|
£345,000
|
|
| 2 bedroom with wrap-around terrace | >1,336 sq.ft |
£385,000
|
£390,000
|
£395,000
|
|
| Cabanas |
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| 1 bedroom | >700 sq.ft |
£395,000
|
£425,000
|
£450,000
|
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| 1 Bed Deluxe | >900 sq. ft |
£450,000
|
£475,000
|
£495,000
|
|
| 2 bedroom | >1,300 sq.ft |
£595,000
|
£625,000
|
£650,000
|
The maintenance fees/service charges are estimated to be in the region of £125pcm, this will cover utility bills, maintenance fees, insurance etc
The closing costs are around 1.5%
Please click on the link to visit Signature Residences Worldwide for full information about The Merricks Villas.
Rental Programme
There is a guaranteed rental income paid to investors of up to 10% per annum for 2 years followed by 5-year 50% share of the room rate, where expected rental returns are likely to be in the region of 15% to 20% per annum.
5 Star accommodation in Barbados runs at a constant 85% occupancy level, and are booked out months in advance. The average nightly rate at other 5 star hotels in Barbados in summer is US$504 and in winter US$707.The average room rate at Merricks Resort & Spa will be US$250. Even when allowing for discounting by other hotels, this room rate indicates the aggressive pricing policies of the management as well as the scope for increasing prices (thus boosting your yields).
There is no restriction on selling your unit before completion.
Barbados is viewed by many people as the ´safest bet´in the Caribbean in terms of capital growth. To our knowledge, Barbados has never suffered from a property recession and property prices have increased steadily for the past 50 years, an impressive record, continued demand and limited supply will also ensure it continues for many years to come.
How To Reserve a Unit
£1,000 non-refundable reservation fee
10% deposit within 15 days less above
20% payment within 45 days after reservations
70% balance on completion (stage payments are due throughout construction, but the developer can meet these with developer loan on behalf of the client, interest will accrue on each stage payment as it is released.)
Up on completion, there is a guaranteed mortgage facility up to 70% LTV available through the developer's bankers in the Caribbean (subject to status).
There is also a 100% finance scheme is available. Should you choose to borrow the 30% deposit, the developer will pay the loan interest, for the 30% deposit until completion of the specific unit you have reserved. These payments will then be added to the purchase price upon completion.
Due to the significantly discounted off-plan contract price and the capital appreciation during the construction phase, it is anticipated that the value will have grown and therefore you will be able to pay for the purchase price less £1000 as well as the accrued interest on the loan for the deposit.
Hot Properties Worldwide is an authorised sales representative of The Merricks
