- Austin Healey,____Leicester Tigers & former England Back

- Paul Nixon,______Leicestershire County Cricket & former England Wicket Keeper

-Lewis Moody,____Leicester Tigers & England Flanker


Development information

* Ready to build on and fully serviced, plots of land from a quarter of an acre to just under 1 acre on Long Island, Bahamas

* All buyers have the right to buy into the proposed marina (subject to consents being granted) at US$480,000 or the golf complex at US$320,000 compared with an estimated US$1.5 million and US$1 million respectively to the public

* The "Right to Buy" is an independent contract which may be sold separately

* Developer will take back the plot you purchase now in part exchange against a marina or golf plot at 25% more than the price you paid if you wish

* Marina and Golf plots are expected to be available in about 18 months and your deposit could be made up of your part exchange plus 10% of the cost of trading up

* Marina and golf plots at the above prices are 15000 square feet (circa 1/3 of an acre) and will have permission for up to 4 dwellings along with 100 feet of dockage per marina plot

STOP PRESS!

* With effect from 6th April 2006, overseas land can be purchased into a SIPP or SASS (self invested pension schemes) as a direct asset of the scheme.

* Pension scheme purchasers may elect whether or not they wish to put the separate "Right to Buy" contract into the pension scheme.

Investment proposition

This is an incredible opportunity to invest at the very beginning stages of what will be a world class marina and golf complex in a Caribbean paradise. Similar developments on other Bahamian Islands are attracting prices for land in excess of a million US dollars. Long Island is regarded as one of the most beautiful in the Bahamas due to its diverse terrain, pristine Caribbean beaches and rugged Atlantic coastline. A maximum of 6kms in width at any given point, land on Long Island provides investors and home owners with the benefit of incredible views and proximity to both the Atlantic Ocean and the Caribbean. The proposed marina and golf course will add further capital growth and rental potential as Long Island catches up with its neighbours to become a top international destination.

Cost breakdown
1. Purchase price, from US$60,000 — US$500,000
2. Stamp Duty, 2-5% of purchase price depending on price bracket
3. UK legal fees, US$750 including VAT and notaries fees
4. Bahamian legal fees, 1.5% of purchase price (or $750 whichever is greater) plus a fixed amount of $770 per transaction
Additional costs for Bahamian purchase permit include:
1. Obtaining a police clearance £10 (GBP)
2. A reference from your bank £10 (estimated)
Investment summary

Massive US market on the doorstep
* Yacht owners
* Holiday makers
* 2nd home owners
* Retirees
* More than 4 million annual visitors to the islands, 80% from the USA

Short, cheap flights to the Bahamas from Florida and other US states are making it easier and more economical for yacht owners to dock and maintain yachts at various marinas in the Bahamas all year round. Dockage fees are generally 30% cheaper than comparable marina facilities in South Florida.
North Americans, as well as an increasing European and Asian population, are looking to the Bahamas for holidays as well as second homes and a place to retire. The purchase of property over US$500,000 enables foreign investors to apply for residency and to enjoy the benefit of a tax free climate. Land in such a location will always be valuable.

Related articles

The Flip Side of the Bahamas New York Times Feb 19, 2006

An Opinionated Guide to the Bahamas Washington Post Feb 27, 2005

American Buyers Drawn To Strong Caribbean Real Estate Market Bahamas Journal Feb 22, 2006

Right to buy into a marina and golf course complex (subject to consents being granted), comparable to those on adjacent Bahamian islands which currently attract multi-million dollar prices for land.

On neighbouring Great Exuma, plots of land at February Point and Emerald Bay Resort are selling for multiple millions with most plots already sold out.

It is clear that the Bahamas is in a current state of growth and prosperity and that now is the time for investors to make serious money. The current situation in Florida supports this growth in many ways. The moratorium on new marinas for ecological reasons means that the Bahamas, nearest neighbour to Florida Keys, is experiencing huge growth in the number of marina developments.

In addition, many people have been priced out of the coastal Florida market and are looking to the Bahamas for cheaper land and housing, close to home, with the same weather but even better tax incentives.