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INDIGO BAY, LAMBEAU, TOBAGO, WI
Investment
Prospectus
An
Overview
Trinidad
& Tobago is one of the world’s tiger economies, supplying 70% of all
natural gas to the
US
and being the world's largest producer of ammonia and methanol.
Its GDP grew 12% in 2006 and the energy sector grew 20% in 2006
encouraging vast levels of investment into the country.
It has become one of the
Caribbean
's wealthiest nations.
In
contrast with Trinidad’s high concentrations of commercial and
industrial activity, its sister island
Tobago
remains beautiful and unspoiled with an economy focused around tourism and
to a lesser extent agriculture, but with plans in progress to diversify
the island economy to reduce reliance on its core sector.
The Tobago House of Assembly is committed to a restricted and
sustainable program to control and enhance
Tobago
's tourism industry, whilst retaining the charm that has earned it the
World Travel Awards 'best eco-destination' award for the last 3 years.
Significantly, the Tourism Development Company of TnT (TDC) has identified
that there is a shortage of over 700 beds on the island.
With hotels currently enjoying an 85% occupancy and growing
pressure from tour operators and airlines alike to increase capacity, the
demand for quality bed stock in
Tobago
is at an all time high – making this an attractive time to invest.
Domestic airline landing
at Crown Point International Airport
The
Indigo
Bay
project and investment opportunity:
-
Hands-Free management with 10% net yields
guaranteed for 5 years
-
2 weeks personal use per year
-
Annualised Return on Investment forecast at 55%
-
Tourism sector growth of 15% expected for 2007
-
4% annual growth for next 10 years
-
Tour operators TUI have issued a 'letter of
intent' for the resort enabling the developer to forecast yields
-
Mortgage financing available if needed
The
Resort Location
Indigo
Bay
in Lambeau looks across
Little Rockly Bay to the long, palm fringed Petit Trou beach on the south
coast of the island where the Hilton Tobago is also located.
Petit Trou or
Lambeau Beach, as it is sometimes called, is one of the longest beaches on
Tobago
and perfect for walking and swimming.
Directly in front of the resort is Warm Pool, an area of water that
is protected by a horseshoe reef and remains shallower and warmer than the
surrounding ocean.
Warm Pool and Lambeau Headland
Just 4
miles to the west of Lambeau is the Crown Point
International
Airport
to which six international airlines currently fly weekly – including
Virgin Atlantic and British Airways. A
mile or two to the east, and separated by the Lambeau headland, is the
capital town of Scarborough with its deep water harbour catering for the
passenger and cargo inter-island ferries as well as occasional cruise
ships.
The
immediate environs of
Indigo
Bay
resort are a quiet, residential area with a mix of permanent residents and
seasonal visitors to the island.
The
Project
Indigo
Bay
is an exciting “3 Star plus” apartment hotel complex of a type not yet
seen in
Tobago. Consisting of
self-contained, mostly one bedroom suites, the concept was developed in
collaboration with European tour operators to cater specifically for the
kind of visitor now traveling to the island.
It is expected that all, or certainly most of the apartments will
be contracted to a holiday company, thereby allowing the developer to
offer long term returns on investment.
The
project started in January 2008 and is due for completion in March 2009. As
from 1st February 2008 apartments will be available for
purchase within
Trinidad and Tobago
through the exclusive local agency of
SeaJade Investments
– selling off plan.
Selling
has already begun internationally via an exclusive
UK
agency.
Designed
by the award-winning
UK
architects Capita Symonds, Indigo
Bay
offers 79 fully furnished apartments with private balconies and sea views.
Final
Approval has been granted for the resort.
All
units at
Indigo
Bay
resort are designed around an open plan living, dining and kitchen area
and are configured as follows :
27
ground floor units one
bed/one bath with terrace
30
first floor units
one bed/one bath with balcony
6
attic units
2 bed/one bath with balcony (3 corner units/wrap-round balcony)
7
attic units
1 bed/one bath with balcony
9
attic units
studios with balcony
The
resort will include a swimming pool, bar, gymnasium and restaurant
facilities in the Clubhouse.
The Apartments
There are
79 fully furnished apartments to choose from, varying in size and price.
For
example:
Construction Details
General
construction details for the apartments include: concrete
block walls rendered or plastered, thermal and acoustic quilted roof of
Kynar aluzinc, floors of ceramic tile or hardwood on screed, gypsum
ceilings, hardwood deck balconies, front doors and side walls acoustic
screened, solar tinted glazed windows with aluminum frames, imported
kitchen cabinetry with fitted oven, microwave, fridge/freezer and disposal
units, imported Twyfords sanitary ware including bath/shower and extractor
fan, split 8000 btu air condition units to bedrooms.
Also provided is cable TV, broadband internet, telephone line,
security and safety systems, individual hot water supply to each unit,
connection to public sewerage system.
The
resort pool will be treated by a state of the art, eco sensitive ozonation
system.
This Investment Prospectus offers you the chance to own an exclusive
seafront apartment in
Indigo
Bay
for as little as US$202,215 (or TT$ equivalent at time of purchase).
Ownership is on a leasehold basis.
The
79 apartments in
Indigo
Bay
are in such high demand that the European tour operators TUI have issued
the developer with a letter of intent for the complex quoting room rates
of $150 per night. Virgin
Holidays are also keen to get the contract.
The
developer is offering investors a leaseback agreement of 10% net yields for 5 years.
In addition, to ensure investors have the opportunity to enjoy the
property themselves, this contract comes with a guaranteed two weeks
personal use per year.
Terms
of Payment
-
US
$10,000 deposit upon signing the Reservation Agreement
-
35% payable upon signing the Sale Agreement
-
65% (less the $10,000 reservation deposit) upon
completion
Inn Development Ltd is a well-established Tobago-based firm
with a
UK
background. It has
already been responsible for the construction of the successful Toucan Inn
and Bonkers hotel and restaurant in Crown Point Tobago, together with the
purchase and management of
Inn
on the Bay hotel. With a
wealth of experience in the Tobago construction and hotel industry, it is
ideally suited to oversee and manage the
Indigo
Bay
resort project.
Chris James
, along with his business partner James Vaughan, are two of the key
personnel in this venture, and they have successfully managed day to day
operations at Toucan Inn / Bonkers and Inn on the Bay for the past
thirteen years.
Chris James
is the V.P. of the
Tobago Hotel & Tourism Association, Chair of the Trinidad & Tobago
Chamber of Commerce - Tobago Chapter, Regional Director of the Travel
Foundation (www.travelfoundation.org.uk), Member of the Trinidad &
Tobago Airlift Committee, and has had 20 years experience in the
Hospitality Industry.
The
Architect
The design of
Indigo
Bay
resort is the work of UK
architect Capita Symonds who have extensive experience in the region and
worldwide. Capita Symonds is
one of the
UK
’s largest and most diverse multi-disciplinary consultancies operating
in the building design, civil engineering, environment, management and
transport sectors. With over
3,700 staff they offer an unrivalled scope of services and a blend of
professional and technical skills.
Locally-based Adams Project Management & Construction Ltd
has been contracted to build
Indigo
Bay
resort. The company was
established in 2001, but Managing Director Imtiyaz Adam has over 14 years
experience in the management of construction projects in
Tobago, Barbados
and Trinidad. The company’s
objective is to provide construction services of the highest level to meet
client requirements and international construction standards, and to build
within budget and on time.
International
Agents
In the international investments circles, Property Frontiers
of the
UK
have been appointed marketing and selling agents for
Indigo
Bay
resort.
Why
Tobago
?
What
makes Tobago so attractive as a holiday and as an investment destination
is that it is one of the few places in the region that remains largely
natural and undeveloped and therefore provides the opportunity to do a
variety of developments - and to do them right.
The
island is covered in forest including the oldest protected rainforest in
the Western hemi-sphere and as a result attracts significant annual
rainfall ensuring that there is no shortage of water, as on many other
Caribbean
islands. TnT is also blessed
with relatively inexpensive electricity supply and a fair quality of
infrastructure generally.
It
is an incredible natural habitat with leatherback turtles nesting on the
beaches, abundant fish in the oceans and amongst the wrecks and reefs
surrounding the island, and countless bird species in the forests.
A nature-lovers paradise, and thanks to its southerly location
outside of the hurricane belt it offers tourists a year-round destination.
At the
end of 2007, the jetty at Scarborough was lengthened to facilitate docking
by cruise ships, and the international airport at
Crown Point
is currently under expansion to help accommodate the wide-body jets which
now land regularly, putting enormous stress on outdated facilities.
Once completed, it is expected that the present airlift will be
increased by existing carriers putting on additional flights on the direct
UK/Tobago route in particular.
Reluctant
to rely too heavily on a single economic sector,
Tobago
’s local government leaders are encouraging investment in industries
other than tourism to broaden the base of investment and income.
To this end, THA is in the process of developing the island’s
first commercial and light industrial business park at Cove Estate, part
of which is State owned, and which offers flat coral land as a an
excellent foundation for development.
This site will be the base for a gas-driven electricity generation
plant to service the park, with gas piped in from nearby national fields.
In the small private
business sector, Tobago’s first modern Mall at Lowlands is bustling with
a wide variety of local and Trinidad based companies, with fast food
outlets, a Movie Towne cinema complex like the one in Trinidad and a bank
with drive-thru ABM.
Another
area of great potential for investment is agriculture and food processing.
Government initiatives are targeting the increased production of
Tobago
’s unique, high quality cocoa which has an international reputation in a
highly competitive and lucrative industry.
Fruit, vegetables, herbs, peppers and livestock are other products
where Tobago’s natural fertility and availability of water can create a
viable sector that caters both to the resident population as well as the
hotels, guesthouses and restaurants that service the 100,000 visitors per
annum that enjoy the experience that is
Tobago
.
Exclusive
Trinidad & Tobago Agents
- SEAJADE INVESTMENTS
Contact
: Dawn Glaisher
(Broker, Director AREA)
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