Ownership and Management Structure
- Beach View Condominium Hotel is a 36 unit hotel set on three acres of Barbados’ famed West Coast, just steps away from the beach. The condos surround two large pools one for children and the other adults, with very spacious decks.
- The development is owned by a holding company which issues one residential share per condo. Each residential shareholder will be entitled to exclusive possession of the condo unit to which the residential shares apply.
- The structure of the company provides for a reduction in the annual land tax and certain benefits applicable to hotel operations.
- Any future sale of the unit is by a sale of the shares. Under Barbados law share of sales attracts transfer tax of 2.5% and stamp duty of approximately 0.5%.
Units start at BBD $1,358,000
- An owner must enter into a rental management agreement with Beach View Property Ltd. This company has been established by the developer with the prime purpose of managing the property as a hotel. All management, reservations and accounting support services will be supplied as part of the agreement.
- All units are sold fully furnished to ensure uniformity of contents. The property is fully furnished to include housekeeping services in all rooms, full night time security and pool and garden maintenance.
- Each owner must make his unit available for rent for 9months of the year but has complete use of the unit for the other 3 months.
- All expenses and revenue are pooled thereby offering a fair distribution of net revenues between all owners. No one unit will be favoured over another.
- Address: Paynes Bay Beach, Barbados
- Price: $1,358,000
- Bedrooms: 2
- Phone Number: +1 (246) 230-1623
- Parish: St. James