Buyer's Guide Welcome to the Andaz Turks & Caicos Buyer's Guide This comprehensive document has been crafted to address the most common inquiries of Andaz Turks & Caicos Residences buyers, providing you with essential insights into the unique ownership details that you need as you embark on this exciting journey of owning a piece of paradise.
THE NUMBERS PRICING AND PAYMENTS Our sleek oceanfront studio suites start at just USD $500,000. Units are available at a range of price points right through to our crown jewel – a breathtaking four-bedroom penthouse with a private rooftop terrace priced at USD $8,000,000 million. Payments will be requested in lock-step with key project milestones. These are: 10% at Contract 10% at Ground Floor Slab 10% at Roof 25% at Drywall 45% at Full Completion
At Signing February 2024 February 2025 August 2025 December 2025
30% completion 65% completion 85% completion
FURNITURE The furniture for the residences is typically purchased 6 - 9 months prior to the opening of the property. The estimated* cost is: Studio and 1-bedroom: 2-bedroom: 3-bedroom or larger:
10% of the purchase price 8% of the purchase price 7% of the purchase price
*Owner requests and changes can result in price variations.
STRATA A strata is the equivalent of a Homeowner Association (HOA). Strata fees at the Andaz Turks & Caicos are estimated at $18 - $20 per square foot per year on the interior footprint. Fees for exterior spaces are charged at 50% of the rate.
CLOSING COSTS There is a one-time stamp duty applicable on the purchase of property in Turks and Caicos. This stamp duty is calculated as a percentage of the purchase price as follows: Purchase price over USD $500,000: 10%
Stamp duty is payable at the time of title transfer or completion of the unit. Each party is responsible for their own legal costs.
THE MANAGEMENT Andaz Turks & Caicos is Hyatt Hotel. Hyatt will operate the resort and residences on behalf the owners, this includes the operation of the rental program. The resort has been designed in collaboration with Hyatt to attract sophisticated travellers and generate optimal income for owners who choose to participate in the rental program.
REVENUE SPLIT Net rental revenue will be split 50/50. This represents a standard revenue share for resorts on Grace Bay Beach.
RENTAL PROGRAM AND USAGE Participation in the rental program is at the owner's discretion. Owners are always welcome to enjoy the benefits of their residence and spend time at the resort. If an owner participates in the rental program, we ask that they keep their total stay(s) under 49 days per year*. However, if the residence is vacant within 7 days of arrival, owners can occupy their unit with no impact to their allocation. Andaz Turks & Caicos will always do their absolute best to accommodate owners at the resort. *Owner usage in the month of March is limited to one week.
THE RESIDENCES SERVICES & AMENITIES The Andaz Turks & Caicos will operate as a full-service resort. The residences make up part of the hotel's nightly rental inventory. As such residences are provided with the same services and amenities available to any hotel guest. This includes: Concierge Services Indoor Fitness Studio & Yoga Pavillion Tennis & Pickleball Centre 3 Restaurants & 3 Bars In-room Dining Pools Overlooking Grace Bay Beach Kids Activity Club Water Sports including Paddle Boarding, Sailing, Snorkeling Owners will enjoy a 10% discount all the onsite spa as well as at all resort restaurants and bars. An Owner's Representative will also be available to help meet the specific needs of our owners. Finally, all owners will become Hyatt Globalist members.
INTERIOR DESIGN Each residence will be furnished with a comprehensive package created by renowned interior designer Francesco Jove of Modus Operandi A + D. These custom packages will be presented to owners at least 12 months prior to the opening of the resort.
PETS Yes. We know your pets are your family. The Andaz Turks & Caicos will be a pet-friendly resort. Of course, there will be some guidelines for pets to ensure all of our guests are provided with the best possible vacation experience.
KIDS ACTIVITIES One of our core objectives is to provide younger guests with memorable experiences (and to give adults a needed break). Our spacious, on-site, Kids Club is located near the main pool and close to the beach. Custom programs will provide inspiring and fun activities with a special focus on learning and discovery of the island's natural attributes.
PROPERTY TITLE In Turks and Caicos all titles are freehold. Your local legal advisor can provide you with the information and counsel needed to purchase your property.
THIS IS NOT AN OFFERING OR SOLICITATION IN ANY JURISDICTION WHERE PROHIBITED BYLAW OR WHERE PRIOR REGISTRATION IS REQUIRED BUT HAS NOT BEEN OBTAINED. Vista Development, Ltd. (“Developer”) and its affiliates are solely responsible for the marketing and sale of the residences. Hyatt Services Caribbean, L.L.C. (“Hyatt”) has granted Developer the right to offer and sell the residences using the Andaz name and trademarks pursuant to a revocable license agreement. Neither Hyatt nor any of its affiliates has any ownership interest in the project nor is responsible for, or makes any representation or warranty, concerning the development, marketing or sale of the residences. The structures, materials and recreational features and amenities described and depicted herein are based upon current development plans. Some images featured in this material are an artist’s conceptual rendering of the project. The Developer reserves the right to modify, update, alter, delete or change any designs, specifications, dimensions, amenities, brands, fixtures, finishes, equipment, services, and features of this project, without notice and without incurring obligation. Specifications, dimensions, measurements, and other information in this material and other Developer materials are approximate and based upon preliminary designs and drawings and are not intended to form any part of the contract for the sale of an individual residence. Each residence, including square footage, may differ due to variations in construction. All prices f or the residences and the prices for the furnishing packages are subject to change at any time and without notice. Developer’s continuing right to use the Andaz name and trademarks is subject to the satisfaction of certain conditions. Failure of Developer to satisfy such conditions could result in the Residences ceasing to be branded with the Andaz trademarks. This advertisement is not an offering. It is a solicitation of interest in the advertised property. No offering of the advertised property can be made and no deposits can be accepted, or reservations, binding or nonbinding, can be made until an offering plan is filed with the New York State Department of Law. WARNING: THE CALIFORNIA BUREAU OF REAL ESTATE HAS NOT EXAMINED THIS OFFERING, INCLUDING, BUT NOT LIMITED TO, THE CONDITION OF TITLE, THE STATUS OF BLANKET LIENS ON THE PROJECT (IF ANY), ARRANGEMENTS TO ASSURE PROJECT COMPLETION, ESCROW PRACTICES, CONTROL OVER PROJECT MANAGEMENT, RACIALLY DISCRIMINATORY PRACTICES (IF ANY), TERMS, CONDITIONS, AND PRICE OF THE OFFER, CONTROL OVER ANNUAL ASSESSMENTS (IF ANY), OR THE AVAILABILITY OF WATER, SERVICES, UTILITIES, OR IMPROVEMENTS. IT MAY BE ADVISABLE FOR YOU TO CONSULT AN ATTORNEY OR OTHER KNOWLEDGEABLE PROFESSIONAL WHO IS FAMILIAR WITH REAL ESTATE AND A LAW IN THE COUNTRY WHERE THIS SUBDIVISION IS SITUATED. FacilitiesandamenitiesmaybepartoftheAndazTurksandCaicosatGraceBayor,separately,theAndazTurksandCaicosResidencesatGraceBay.Usageoffacilitieswillbesubjecttostratadocumentsandcostofmaintenance,usage andreplacementmaybechargedaspartofthehomeowner’sassessmentorpayableupon usage.