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The Terraces is a 21 acre resort on the Cap Estate overlooking the magnificent east coast of St Lucia with the amazing Jack Nicklaus golf course to the north, which will offer a superb range of amenities including its own stunning spa centre. |
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The land on 17th March 2007 on an Option Contract for an agreed purchase price of US$4.75m. A deposit of 10% has been paid to secure the contract |
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"The Terraces" has a projected gross development value of US$ 136.9m with an indicated gross profit of US$31.12m. |
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Outline planning permission was granted on 21st November 2007. A revision to the plan was requested and this was approved on 19th March 2008 |
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Full planning is expected in the last quarter of 2008 / first quarter of 2009. |
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An independent valuation has now valued the site at US$15.5m. |
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The developer is looking to secure US$6.75m to complete on the land purchase and to provide professional fees to full planning. |
0845 370 1111
