The Timber House Ocar, BEQUIA, The Grenadines
- 0 Bedrooms
- 1 Bathroom
- 0.5 Acres
- 21353 Sq Ft
- ideal for a pool
- FOR SALE
- Beachfront headland
- Unique Location
- Buisness Opportunity
- Access to Shore & Town
- Ideal for Business Premises
Excellent Commercial Opportunity Port Elizabeth, Bequia, St Vincent and the Grenadines Harbour Location
An Excellent Commercial Opportunity . The Timber House is perfectly located in the centre of the harbour, in Port Elizabeth. Close to the water yet elevated; this single story building has enjoyed much success as a popular restaurant - most recently an extremely popular bar and restaurant.
Elevated: Cool & Breezy
The building occupies a flat summit of a small headland between the Harbor town of Port Elizabeth & the residential area of Ocar. The plot consists of one 16,903 Sq Ft on the headland, and one waterfront lot of 4,450 Sq Ft - separated by a 10 foot right of way.
Easy Access & Parking
The property enjoys easy access with a driveway down to the main road in Port Elizabeth and has a large level parking area
Harbour & Ocean Views
The Timber House boasts an extremely prominent position in the Harbour of Port Elizabeth; The views are panoramic over the Island and the whole bay, & overlook the yacht and marine activity in the beautiful Admiralty Bay. The Timber House is set above the Tradewinds cruise club Marina and Hotel.
Ideal for Development
This area obviously has great potential for development being close to the main point of entry on the island for visitors and tourists. With excellent views for day dining and evening with the harbour lights below.
The island of Bequia regularly welcomes cruise ships, ferry loads of tourists and international Yachts who enjoy one of the best anchorages in the Grenadines.
On the North shore of admiralty Bay two local villages sit dreamily on the shore, here you can stroll in the road. On the south facing hillside there are uninterrupted commanding views of the whole bay all the way to West Cay. Down by the beach are the Model Boat Shops and Sail Makers lofts, some sandy bars with live music in the evenings and local rum shops. There is a wooden jetty & Tradewinds Marina with one of Bequia's great restaurants right by the water's edge.
The entire process can be handled remotely - ie while you are in the UK.Purchase procedure:
1. Make your offer for your chosen property through us. We present your offer, and work to bring the sale to an agreement with the owner.
2. Appoint a local Lawyer to handle your purchase (list of recommended lawyers can be provided upon request) exchange contact details and discuss the purchase arrangements, as you wish.
3. Sign Agreement of Sale & deposit 10% of purchase price in ESCROW account with the lawyer.
The Agreement of Sale Contract is prepared by the lawyer for approval by both parties, before being finalised and signed by both parties. This is a binding agreement, the only circumstances where you would retrieve the deposit would be if:
- the seller fails to perform (for example if there was not clear title)
- or if your ALHL is not issued (this is extremely rare).
4. Alien Land Holders Licence (ALHL) Application (specific to the property & applied for at the time of agreement of purchase ).
Provide the following details to your local lawyer :
- Date and place of birth
- Copy of passport
- Bank reference (not finances just a letter of reliability)
- Police certificate of clear record (applied for from your local police station or online, in your home country
The police certificate is usually fairly swift and at least straightforward
The lawyer makes the ALHL application and searches to check clear title on the property
5. ALHL is issued (this usually takes 2 to 3 months).
6. Complete the purchase (you deposit the balance of purchase price and the signed deeds of conveyance are released). At this point the property is yours.
Purchase costs are straightforward;
- 5% Stamp Duty
- approximately 6% ALHL
- legal fees
Legal fees are standard and the lawyer you instruct can provide a detailed breakdown of the costs.
We advise allowing 13% to cover the costs.
The lawyer can advise on personal or company ownership;
Company ownership provides automatic exemption from work permit. Residency is a simple formality with property ownership.
Many buyers choose to own their property through a company which can be set up easily, the lawyer can advise on the costs and fees for this.
There is no capital gains tax, no inheritance tax and annual property taxes are negligible. Funds can be repatriated freely.