1 Bed Land Land investment in Castries Location St Lucia Castries Price £20,000 Mortgage calculator Add to shortlist Property ID: 473915          Description Key selling points Return of 4% simple per month This equates to a 48% annual return Outline planning permission already granted Land already secured by the developer Period of investment 12 - 17 months Invest in land and share in the developers profits   A 21 acre resort on the Cap Estate overlooking the magnificent east coast of St Lucia with the amazing Jack Nicklaus golf course to the north. "The Terraces" offers a superb range of amenities including its own stunning spa centre.   Global Development (St Lucia) Ltd. is a local company whose key personnel have a proven track record in creating this type of resort.   Global acquired the land on 17th March 2007 on an Option Contract for an agreed purchase price of US$4.75m. A deposit of 10% has been paid to secure the contract.   "The Terraces" has a projected gross development value of US$ 136.9m with an indicated gross profit of US$31.12m.   Outline planning permission was granted on 21st November 2007. A revision to the plan was requested and this was approved on 19th March 2008.   Full planning is expected in the last quarter of 2008 / first quarter of 2009.   An independent valuation has now valued the site at US$15.5m.   The developer is looking to secure US$6.75m to complete on the land purchase and to provide professional fees to full planning.   Institutional funding will refinance the project when full planning is obtained.                  Make an enquiry: TheMoveChannel.com is a property listing platform for estate agents, developers and private owners. For further details of the properties listed on the site, you must register/login and make an enquiry using the form that will appear on this page. Your enquiry email will then be sent directly to the person or company responsible for listing the property. Click here to register Email: Password: (forgot your password?)                 Get emails featuring more properties like this! Properties like this regularly feature in email newsletters that you are not signed up to. Opt in to receive newsletters by checking any relevant boxes below: Enter your Email:  Global Investment Overseas Showcase Land