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APARTMENTS IN BARBADOS |
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STARGAZE HACIENDAS |
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About Us |
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Developers / Investors: MELDEN INC., BARBADOS This Swiss / Barbadian development team has the winning formula:Swiss efficiency and strive for perfection mixed with Barbadian charm and love for comfort! The Directors: Mrs. Denise K. Harding, Swiss and Barbadian National, business woman, educated in Switzerland in Hotel Management, has extensive experience in the hotel and tourism industry overseas as well as in Barbados. Having worked in 5-star hotels she has developed an eye for detail and expects the highest standard of work, from foundation right through to finishes.
Mr. Mel A. Harding, Barbadian National, businessman, educated in Sales & Marketing Management (presently working as Project Manager at Jolly Beach Vacation Club, Antigua) as well as Environmental Consultancy and Recycling (former Managing Director of Envirotech Inc., Recyclers and Environmental Consultants). Leader by nature, environmentalist by heart, he’ll make sure that the project team works efficiently and energy saving measures are put in place.
Project Management: Mr. Ian W. Rollitt, BSc, FP Eng (UK), FRICS, FCIOB, Chartered Builder, Building Engineer, Chartered Project Management Surveyor (cdconslt@caribsurf.com). Ian has over 30 years experience as a Surveyor and Project Manager on a wide range of Projects in Building and Civil Engineering with 20 years in the Caribbean. His experience in the commercial and contractual aspects of construction management has been acquired by working directly for developers, as a consultant for large international companies and contracting organizations on major tourism projects. Ian has been involved in all aspects of projects, including costs estimates, contractor and subcontractor selection, design management, preparation of contract documents, contract administration and the formulation and settlement of claims. He is presently Project Manager/QS for a quality luxury home project Westland Heights Crick Hill St James www.westlandheights.com .Previously he was Project Manager for Schooner Bay St. Peter Barbados www.schoonerbay.com"
Architecture/ Interior Design: Mr. Hal Collins is a young and ambitious professional with an eye for detail. He is the lead designer of Coltech Designs and has over 17 years experience in the construction sector, particularly in the field of Engineering. Over time he has developed a keen eye for detail and for quality finishes. Coltech specializes in the design of residential properties with a strong emphasis on satisfying the specific needs of their clients. He managed to take all our visions, added his expertise and talent and made it reality. He has designed several Condo and Townhouse projects, the last one being the Townhouse project Cotton Bay Close phase 2 which is in the very same neighbourhood as Stargaze Haciendas.
Construction / Engineering: Mr. Grantley Norgrove, Managing Director of Norgrove Construction, is The Man when it comes to construct buildings in uncompromising quality and durability. At the same time he is one of the few contractors who finish their work on time! This is the reputation he has and makes sure he keeps. He has built several Apartment projects on the West and South Coasts. Together with our Engineer, Anthony Glasgow, they make sure our buildings have the structural integrity and high standard of quality that is expected.
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HELPFUL INFORMATION
RESIDENCY IN BARBADOS
If you are not a Barbadian citizen or resident, you can live in Barbados as long as you own a property and can supply information indicating that your income will come from abroad. The immigration department will give a special entry permit allowing residence for 5 years. This is renewable. If you are over 60 years old you can apply for immigrant status in retirement. All applications to reside in Barbados should be made to: Chief Immigration Officer Immigration Department Careenage House, The Wharf, Bridgetown, Barbados Tel: (246) 426 1011 E-mail: Imm-dept@caribsurf.com
For more details see www.barbados.org and search for “Relocating to Barbados”
EXPENSES YOU CAN EXPECT
Annual Land Tax
Tax on residential property levied on capital value of apartment in Barbados Dollars: First 125’000 = zero rated Next 225’000 = 0.40 % Next 500’000 = 0.45 % Excess over 850’000 = 0.75 %
Property transfer Tax
Paid by vendor
Service Charges and building insurance
Based on the actual annual cost of maintaining gardens and grounds, swimming pool, exterior of buildings, cleaning and lighting of common areas as well as the insurance of the building. These costs are shared between the owners of the apartments and reviewed and discussed once a year at the owners meeting. We expect a maintenance fee in the range of B$ 700 (US$ 350) per unit per month.
Insurance premiums
Annual premiums on building/apartment: included in the maintenance fee Annual premiums on contents: B$ 300 (for B$ 40’000 value)
Please note that these figures are an estimate only.
RENTAL VALUE
Rents currently achieved for a 2 bedroom apartment in Barbados for annual tenancies are in the region of B$ 3’000.00 to 5’000.00 (US$ 1500-2500) per month.
A guide for daily rates you might expect:
B$ 300 to 400 (US$ 150-200) per day in winter (summer might be 20% less)
CAR HIRE
Offering a car with the apartment is recommended as a convenience for your guests and an additional source of income for you.
MANAGEMENT CHARGES
These charges depend on the service you require, generally 15 % of the rent. If you occupy or manage your apartment yourself there are no management charges. We can also arrange the car hire for your guests.
Maid to clean apartment including laundry (bed linens and towels only): B$ 60.00 (US$ 30) each time
MEET AND GREET SERVICE
We can arrange for your guests to be met at the airport and transfer them to the apartment and returned to the airport. They will also receive a tourist information package. Charge per couple: B$ 160.00 (US 80)
Additional service: A professional host will visit them the next day to help plan activities and be available to help with any emergencies that might occur. Additional charge per couple: B$ 60.00 (US 30).
HOW TO BUY YOUR CONDO
STAGED PAYMENTS: Payment for your condominium will be required in stages as the building progresses as follows: 20 % on agreement to purchase 20 % on completion of the foundations for the block 20 % on completion of ring beam 20 % on completion of the roof 17,5% on practical completion (conveyance of unit) 2,5% at the end of “snagging” period (6 months)
TRANSFERRING MONEY TO BARBADOS
You can simply send money through your bank. Or try Currency Solutions in the UK which claims to be able to do this more cheaply. Telephone 44 (0) 1322 229 929 or see www.currencysolutions.co.uk
REGISTRATION OF MONEY
Money transferred to Barbados must be registered with the Central Bank to ensure that this money together with profits made from the property can be taken out of this country should you choose to sell your condo.
RETURN OF DEPOSIT
If, after having paid your deposit you change your mind about proceeding with the purchase, your deposit will be returned as soon as a new buyer is found for that unit.
CAPITAL APPRECIATION
Property prices in Barbados are stable and generally show a steady increase in value about 5% per year.
CONDOMINIUM PRICE LIST
BLOCK 1 (West)
UNIT 101 West condo ground floor sold
UNIT 102 West condo first floor sold
UNIT 201 East condo ground floor reserved
UNIT 202 East condo first floor reserved
BLOCK 2 (East)
UNIT 301 West condo ground floor available B$ 850,000.00 (US$ 425,000.00)
UNIT 302 West condo first floor available B$ 850,000.00 (US$ 425,000.00)
UNIT 401 East condo ground floor reserved
UNIT 402 East condo first floor reserved
Contact: Melden Inc., Barbados Tel./Fax: (246) 428 2158 / Cell: (246) 265 4755 E-mail: meldeninc@yahoo.com
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MELDEN INC. |