Crane Resorts, the developer of the historic Crane Resort in Barbados has announced that phase one of its new residential community - The Crane Private Residences - is sold out, with only a few residences remaining for sale in phase two.
The contemporary-styled and generously scaled residences have proven to be popular among both nationals and non-nationals, seeking a second home or investment property in one of the island’s most desirable resort communities.
“We are thrilled with the response to our offering of a unique resort lifestyle on Barbados’ naturally beautiful South-East Coast,” said Annmarie Thompson, Chief Marketing Officer, Crane Resorts. “Perfect for long-term island living, The Crane Private Residences combine all the best features of typical condo units with the unique advantage of being surrounded by a full resort community. Being located within The Crane Resort offers our owners the option to spend time with other guests from around the world when desired, while enjoying access to all resort amenities and services, including service on the world-famous Crane Beach.”
Since its launch in winter 2015, phase one of The Crane Private Residences has attracted investors from over six countries, from as close as neighbouring Trinidad & Tobago to as far as New Zealand. However, the majority of owners have come from the United Kingdom, lured by the advantages of Barbados’ Special Entry and Reside Permits (SERP) for High Net Worth Individuals (HNWIs); absence of capital gains, wealth and inheritance taxes; and rental-income opportunities provided by a strong tourism sector, supported by excellent airlift out of the UK, continental Europe and major North American cities.
Spread over five acres, the master-planned community will, on completion, feature five residential buildings with spacious two-bedroom (1,916 sq. ft.) and three-bedroom (3,619 sq. ft.) homes. Ground floor residences each have a large private pool and garden, while penthouse units include a private roof terrace with dining gazebo, private rooftop swimming pool and broad, panoramic coastal views. All units are complete with large, airy, kitchens, elegant natural stone bathrooms with large soaker tubs and private patios. The Crane Private Residences also include underground parking and an elevator leading directly into the foyer of each residence, a rarity for Caribbean properties.
With phase one now welcoming owners, ownership in phase two of The Crane Private Residences is still available for a limited number of astute investors. Pre-construction prices start at US$348 per square foot, approximately half of comparable luxury oceanfront real estate in Barbados.
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