27 Apartment Development Opportunity, Prospect, St James, Barbados
Available on request
7 catalogue images. Media provenance, current condition and usage rights are confirmed before an introduction.
The reason to consider it.
Opportunity to acquire 1.7 acres of land for sale in Barbados located in Prospect, St James with planning consent for 27 apartments.
Prospect, St James, Barbados – Apartment Development Opportunity
Situated on an elevated hill-side approximately 400 yards from the coast, this parcel of land for sale in Barbados comprises 6 lots which have been combined into one with a total area of 74,081 sq ft. Phase 1 Planning consent has been provided for phase 1: a complex of 27 apartments over 8 floors with swimming pool, fitness room, storage and office space on 39,781 sq ft (3,636 sq metres).
Phase 2
Phase 2 is zoned residential l. Planning consent has not yet been sought.
Combined or Separate Offers
The seller would consider offers for phases 1 and 2 together or separately.
- Phase 1: 39,781 sq ft (3,636 sq metres) – $2,995,000 USD
- Phase 2: 34,306 sq ft (3,187sq metres) – $2,500,000 USD
Prospect – West Coast of Barbados
Located just off Prospect Road, the apartment development would be situated close to many of the most prestigious luxury homes, hotels, beaches, restaurants and shops of the West Coast of Barbados .
Last confirmed
- Type
- Land
- Land
- 797,401 ft²
- Zoning
- residential l
- Topography
- hilltop
- Subdivision approved
- Yes
- Permitted uses
- Single family, Duplex, Tourism, Boutique hotel
What this listing includes
- Pool
- Fitness centre
- Storage
What people say about Barbados
Sources agree that Barbados is an expensive place to live by Caribbean standards, with the west coast (Platinum Coast, Holetown, St James) described as the priciest area and the east and inland parishes as cheaper.
- Mixed Barbados is expensive overall; the west coast (Platinum Coast, Holetown) is the priciest area, east and inland cheaper
- Mixed Foreigners can buy freely but should use a local attorney; Central Bank / exchange control approval and registering foreign funds are part of the process
- Mixed Property transaction taxes: sources disagree on who pays and the rate (2.5% seller-paid transfer tax plus 1% stamp duty vs a 10% non-resident figure)
- Concern Repatriating sale proceeds is restricted under exchange control; many non-residents use offshore holding companies
The asking price is not what it costs.
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