Bedrooms: 2, Bathrooms: 1, Floor Area: 126 sq. mt
Star Island One and Two Offer Proposal
Cost Breakdown
Current Market Price (note 1) $1,400,000.00
Contract Purchase Price (note 2) $775,500.00
Balance Due On Completion (note 3) $556,500.00
Total Purchase Price $1,332,000.00
Profit margin on ‘Current Market Value’ 5.11%
Rental Guarantee (Per Annum) (note 4) $119,250.00
Rental As A Percentage Of Total Purchase Price 8.95%
Notes
1 "Current Market Price" is the current cost of a similar property from the developer
2 "Contract Purchase Price" is the cost of purchasing the holding company
3 "Balance Due On Completion" represents the liability which is transferred with the company and is payable to the developer on completion of the purchase of the property. A mortgage guarantee to this value is in place from the developer.
4 "Rental Guarantee" is an annual rental sum guaranteed by the developer when the property is placed in the rental pool on completion
5 All values are in US$
IPG Ltd is a company incorporated in the Isle of Man, which specialises in overseas investment property opportunities. IPG currently have for sale two subsidiary companies, Star Island One Ltd and Star Island Two Ltd, which were set up with the sole purpose of holding single property each , from the new Punta Perla development in the Dominican Republic.
Punt Perla occupies 10 million square metres of real estate within the Punta Cana Region, which lies at the eastern most tip of the Dominican Republic. It is the only remaining beach-side real estate available for a development of this quality, magnitude and national importance.
Reckoned to be one of the last great investment opportunities in the Caribbean, the government of the Dominican Republic has purposely set to attract upmarket tourism by offering great tax incentives as well as spending millions of dollars implementing a modern infrastructure.
Punta Perla is being developed as a Marina and Golf Centre, with full infrastructure and amenities. It offers a number of different property types including Star Island Bungalows and Apartments, Golf Vilas, Townhouses and Apartments, Water Homes, a Caribbean Village, a Colonial Village, La Marina de Punta Perla and beach Apartments as well as Founders Plots available for the construction of multi-million dollar beach side mansions. All homes are being built to the highest quality to Florida Hurricane standards of construction.
The two properties being offered by IPG are both water-side bungalows on the prestigious Star Island community.
La Marina de Punta Perla Star IslandExclusive gated community
Large terrace
Parking Space
Private Mooring
Plunge Pool
Wood and marble flooring
Marble bathrooms
Jacuzzi and Terrace
Wooden blinds in bedrooms
Built in Wardrobes
Fully fitted kitchens, including white goods
Air-conditioning
Satellite television dish installation
Irrigated, landscaped grounds
Offer DetailsStar Island One Ltd and Star Island Two Ltd are offered for sale. Each of the two companies has contracted to purchase one water side Bungalow property on Star Island on the Punta Perla development in the Dominican Republic.
Currently each company has made a substantial deposit and entered into a contract with the developer to purchase a property. The remainder of the purchase price is due on completion. Plot V9 has been allocated to Star Island One Ltd and plot V10 to Star Island Two Ltd.
The contract includes significant benefits to be provided by the developer or his agents:
A Guaranteed mortgage is available to cover the balance due to the developer on contract completion.
The property is entitled to entry in a Guaranteed rental scheme, which guarantees an annual return of the amount shown in the box on the right.
In addition the government of the Dominican Republic has provided the following concessions:
Property Tax waived
Income Tax waived
Capital Gains Tax waived
These benefits are transferred with the company.
Ownership of the property through an Isle-of-Man based company can have many benefits depending upon the circumstances of the purchaser.
