Land for sale

Speightstown, St Peter, Barbados

£2,103,250

 [$2,750,000]

Property Details

  • Bedrooms: 0
  • Bathrooms: 0

Full Description

Plans have been prepared with a view to creating a 19 room Inn with retail and catering facilities. These plans were approved in December 2010. They can of course be changed or improved subject to planning consent. If built, the currently approved plans would create 25,000 sq. ft. of commercial space with these features.

• Pub/Garden Restaurant in the main building• An Inn “The Speightstown Inn” - with 19 rooms, all air-conditioned with en suite bathrooms • A retail store that would attract tourism and generate local employment.

A Beach Bar/Restaurant with beach facilities is the subject of a separate planning application which is pending.

Alternatively, the property could be preserved as a private residence or as apartments. Key benefits of the Speightstown Special Development Area

The town is part of a Special Development Area*

We understand that approved projects will enjoy these exemptions.

• Import duties, consumption tax, stamp duty, VAT on construction, renovation• Capital expenditure deductible at 20% per year• Charges on reparation of interest and capital for 10 years• Land tax on improved value of the land• Property transfer tax

NB Buyers should take professional advice on the S.D.A. status

*Supplement to official Gazette dated 4th November 1996 Special Development Areas Act, 1996 - 21

Price: $2.75 Million Freehold

DescriptionThe objective of this prime site is to create a world class major attraction in the middle of Speightstown, that will surely revitalise the town and expand tourism figures and day visitors to assist in attracting other tenants. The proposed building will consist of a beach bar, bar and restaurant with first class beach facilities, a pub/garden restaurant with a major world class kitchen, an Inn - 'The Speightstown Inn' - with 19 quality rooms all air-conditioned and each room with an en suite bathroom. Also a retail store that will surely attract tourism and generate local employment.

SituationLocated in the heart of the Speightstown hence known as 'Little Bristol' directly in front of the beach. Speightstown. which serves as the virtual Northern 'Capital' of Barbados, is located on the west coast, which boasts of the loveliest beaches, luxury hotels and private properties. Many shops and restaurants, along with a banking facility and pharmacy for your convenience, surround's the Old Pharmacy.

Ground floor (approximate dimensions)

BATA shoe shop - 1142 sq ft Pharmacy - 1940 sq ft Juice Bar - 250 sq ft Garden Warehouse - 904 sq ft Garden Warehouse 2 - G682 sq ft First Floor (inc Veranda) - 2096 sq ft Second Floor - 2096 sq ft Garden Passage - 6000 sq ft Beach Lot (90 x 35 sq ft) - 3150 sq ftTotal: 18,260 sq ftThe planning approval is for approx. 25,000 sq ft
This property listing (ref: WCV1222) is an advertisement supplied by Barbados Sotheby’s International Realty and does not constitute property particulars. While aplaceinthesun.com (APITS Ltd.) requests all advertisers supply correct details, it does not carry out checks on the information supplied and cannot be held responsible for any inaccuracies. Aplaceinthesun.com recommends seeking independent legal advice prior to any overseas property purchase.

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