Savills Select Resorts Launches New Phase At $100 Million St Kitts Real Estate Resort

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Luxury tropical island lifestyles are becoming more accessible with the latest phase launching at $100 million St Kitts real estate development Ocean's Edge Resort. International property group Savills has sold virtually all of phases 1 and 2 at the 40-acre resort overlooking Frigate Bay - paving the way for phase 3's new beachfront penthouses and poolside cottages. St Kitts has been named as one of the top 20 islands on which to live worldwide and two years ago the island made the list of 10 great places to buy property.

Initial feedback on the revised masterplan has been extremely positive and we are confident that these revisions and enhancements will add great weight to the success of the sales program.

Luxury tropical island lifestyles are becoming more accessible with the latest phase launching at $100 million St Kitts real estate development Ocean's Edge Resort.

International property group Savills has sold virtually all of phases 1 and 2 at the 40-acre resort overlooking Frigate Bay - paving the way for phase 3's new beachfront penthouses and poolside cottages.

St Kitts has been named as one of the top 20 islands on which to live worldwide and two years ago the island made the list of 10 great places to buy property.

Ocean's Edge will comprise 190 condominiums plus 32 lots for bespoke villas. Prices start at mid-$300,000 - with all the advantages of tax, citizenship and visa benefits of second passports under the well-respected St Kitts' Citizenship by Investment Programme.

Phase 3a of the vacation home development includes:

  •     Bespoke Villas - 32 villa lots starting from US$200,000 with a cost of approximately US$300 per square foot to build a bespoke villa with fantastic ocean views
  •     Poolside Cottages - 10 two-bedroom semi-detached, single-storey cottages (approx 1,825 square feet), each with their own small garden and private plunge pool at US$525,000
  •     Hillside Condominiums - two-bedroom condominiums with plunge pools (approx 1,500 square feet), overlooking the ocean, from US$575,000
  •     Two-bedroom Beachfront Condominiums, approx 1,650 square feet, from US$609,000
  •     One-bedroom Beachfront Condominiums - 800-900 square feet, from US$359,000.

Work on the luxury resort is progressing well. Upgrades to the St Kitts real estate development's approved masterplan include a large central fabulous ornamental pool area.

Ocean's Edge will include a beachfront restaurant surrounded by pools plus a fitness centre, tennis courts and landscaped recreation spaces.

The ambitious St Kitts real estate resort is being masterminded by the Cable Bay Hotel Development Company (CBHDC). Completion for the entire project is scheduled for late 2012.

Ocean's Edge Regional Sales Director Damian Hamp-Adams said: "We are very excited about the updated masterplan with the additional properties now available complemented by a landscaped water feature.

"Initial feedback on the revised masterplan has been extremely positive and we are confident that these revisions and enhancements will add great weight to the success of the sales program."

Several completed homes are already being rented out particularly to key workers for long term rental. Ocean's Edge offers rental and property management services to owners whose properties are completed prior to the resort operator coming on board. This program is meeting growing demand on the island for high quality rental accommodation.

Mr Hamp-Adams added: "The economic citizenship program has also been a key factor in driving interest in Ocean's Edge and we expect this to carry on through 2009 and 2010."

St Kitts' Prime Minister and Minister of Tourism, the Hon Dr Denzil L Douglas, toured the resort in early September.

He said: "All this is happening at a time when there is a global economic downturn so there must be something tremendous about this place that can influence an investor to put over a million US dollars into a villa of this kind."

Clients with an interest in purchasing property can participate in a three-night subsidized inspection trip to experience St Kitts and Ocean's Edge first hand. For more information, please contact Pauline Bonanni, Savills Select Resorts, +44 (0)1202 765011.

Information For Editors

http://www.oceansedgestkitts.com

International Sales Office
Savills Select Resorts
Telephone: +44 (0)1202 765011

About Ocean's Edge

Ocean's Edge is a luxury vacation home development in St Kitts overlooking Frigate Bay.

The 40-acre project comprises 190 condominiums including one-, two- and three-bedroom beachfront units, two-bedroom hillside units, two- and three-bedroom poolside cottages. In addition, 32 villa lots offering some of the finest views on the island are available with the option of building a three- or four-bedroom+ villa.

Planned leisure facilities include a fitness centre, restaurant, pools, tennis courts and landscaped recreation spaces.

Ocean's Edge is owned by Cable Bay Hotel Development Company Limited - a consortium of stakeholders comprising Newfound Cable Bay Corporation and locally based partners TDC Ltd, Mansha Ltd and SKNA National Bank Ltd.

Ocean's Edge is located within 10 minutes of RL Bradshaw International Airport and is adjacent to the Royal St Kitts Golf Club - one of a few golf courses in the Caribbean with views over both the Atlantic and the Caribbean.

St Kitts welcomes guests on:

  •     non-stop flights from New York (JFK), Miami FL, Atlanta GA, Charlotte NC and San Juan PR
  •     weekly flights from the UK on British Airways and seasonal service from Toronto, Canada. British Airways has just added a second direct service from London Heathrow.
  •     daily arrivals from other Caribbean islands.

For more information on Ocean's Edge Resort, please visit http://www.oceansedgestkitts.com

About Savills
Savills, a leading global real estate service provider listed on the London Stock Exchange, has been appointed as international agents to sell and market Ocean's Edge. The company, established in 1855, has more than 200 offices and associates throughout the Americas, Europe, Asia Pacific, Africa and Middle East. The Savills name has become synonymous with luxury residential property worldwide and the experienced international residential team is dedicated to providing a superior sales and marketing service.

Savills is responsible for taking Ocean's Edge to a much wider market and to compete effectively in both the emerging and established global market place. To help achieve this goal, in addition to signing on with agencies in the US, Canada and Russia, Savills continues to widen Ocean's Edge's international reach. Agreements have recently been signed between Savills and agencies in Karachi, Pakistan; Dubai and in Germany covering also Switzerland and Austria.

For more information, to set up an interview or receive a media kit and/or images, please contact:
Dalia Blumenthal, Publicist
Tel + 1 416 926 1967     Mobile + 1 416 788 4573

Why Invest in St Kitts
    Second passports - Citizenship by Investment Programme; Ocean's Edge is an approved project.
    Tax advantages - no income tax, capital gains tax for property owned for 12 months or longer, no inheritance tax or wealth tax for both individuals and companies.
    Easy accessibility - non-stop flights from New York, Miami, Charlotte, Atlanta, San Juan, Antigua, St. Martin, London, Toronto (seasonal).
    Pleasant year-round climate averaging 25 to 28 degrees Celsius (77º to 83º Fahrenheit).
    St Kitts is not over-developed like some other areas in the Caribbean with the St Kitts Government enforcing a Property Policy to maintain the island's appearance.
    Islands Magazine (2007) listed St Kitts as one of the top 20 islands on which to live worldwide.
    Robb Report's Vacation Homes Magazine (October 2008), the island made the list of 10 great places where the best time to buy is now.

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Pauline Bonanni
Select Resorts
+44 (0)1202 765011
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