Road View , St. Peter

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Amenities

Beach front, Breezy location, Panoramic views, Private location, Restaurants close by, Sea Views, Swimming Pool, Water front

Description

KINGS BEACH BARBADOS
FOR SALE

The only large development site – Prime beach front – West Coast Barbados – Planning permission – unmissable investment opportunity

FOR SALE – Asking price: US$26,000,000

Located on the Platinum Coast of Barbados, Kings Beach offers an unparalleled opportunity to develop one of the world’s finest beachfront properties.

With wide beach frontage and 2.5 acres of beautiful land just steps from the Caribbean Sea, Kings Beach is the last property of its size available for development on the West Coast on Barbados.

Its white sandy beaches and aquamarine waters are ideal for sunbathing, beachcombing and water sports; its breathtaking sunsets a perfect pairing for that end of day sundowner.

Barbados is a sportsman’s paradise; Kings Beach is within minutes of world-class yachting facilities, golf courses and polo communities.

Neighboring both Holetown and Speightstown, the development is within easy reach of high-end boutiques, world-renowned restaurants and vivid Caribbean nightspots, rounding out a range of amenities sure to please the most discerning resident.

Kings Beach includes planning permission for 50 luxury apartments; the property is also ideal for a traditional hotel, condominium hotel or selection of private villas, subject to planning revision and approval.

Kings Beach Hotel Limited is the owner of the 9,973.4 square meters of land situated at Road View in the Parish of Saint Peter in Barbados – or other wise known as King Beach Hotel.  The sale includes all other building erected on the site.

Kings Beach Hotel Limited charged and mortgaged the Property to and in favour of a Mortgagee who has become entitled and is taking steps to enforce its security.

Efforts by Kings Beach Hotel Limited to sell the property by private treaty failed to materialize in a concluded sale and the Mortgagee’s effort to sell by public auction, likewise, did not result in a sale.

The Mortgagee’s subsequent efforts to sell by private treaty resulted in the execution of a conditional Agreement with a third party for the sale and purchase of the Property, which contract is, inter alia, conditional upon the approval of the Supreme Court.

Pursuant to the application by the Mortgagee to the Court, an order was made that the Mortgagee re-advertise the Property extensively both locally and internationally for a minimum period of four (4) months.

The Mortgagee has confirmed that no sale of the Property has been concluded and that it is able to receive offers for the purchase of the same, for the Court’s due consideration. It has also confirmed that it is able to give to any purchaser approved by the Court a good and marketable title to the Property free from encumbrances, since the sale by it as First Mortgagee will overreach any subsequent mortgagee in accordance with the Property Act, Chapter 236 of the Laws of Barbados.

Any offers to be submitted for the Court’s consideration must comply, inter alia, with the following terms and conditions of sale:

(1)    The offer must be accompanied by a binder deposit of 5% paid by a banker’s draft     drawn in favour of Yearwood & Boyce;

(2)     A further deposit of 5% of the purchase price is to be paid by a banker’s draft drawn in favour of Yearwood & Boyce upon a prospective purchaser being approved and declared by the Court as the purchaser of the property

(3)    These deposits mentioned above aggregating 10% of the purchase price are non-refundable only in relation to the successful purchaser, if any.

Location map

Floor and Site Plans

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• Location map
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