Tel: 649.432.7653
sales@thelorentci.com thelorenresidence.com
FAQ
The Loren at Turtle Cove invites discerning residents and their guests to enjoy the ultimate in-island luxury living, poised at the water’s edge. Our light-filled modern spaces, stunning panoramic ocean views, exclusive amenities, and impeccable service offer life in perfect harmony with the sublime surroundings—uncomplicated, simple, yet remarkable. And all in a place where the lines between water and land, indoor and outdoor, blend seamlessly, elegantly, and naturally.
The Loren offers 25 condominium residences, including two stunning penthouses, an exclusive marina with slips ranging from 30 to 60 feet, and six luxury beachfront villas in an exclusive private enclave with floor-to-ceiling windows and expansive views overlooking Babalua Beach and Turtle Cove Marina. Each is marked by Loren’s signature elegant and understated design, impeccable service, world-class offerings, and distinctive curated experiences, ideally located just 5 minutes from Providenciales Airport.
The Loren at Turtle Cove Residences
Turtle Cove, Providenciales The Turks & Caicos Islands
CONDO RESIDENCES
1.What services are included in ownership?
The resort is designed to operate as a full-service hotel, where the residences may act as part of the Hotel's nightly rental inventory, which makes the services and amenities the same for all.
2.Do the residences come furnished?
No. The residences are not furnished. However, you may purchase a custom furnishing package created exclusively by the Loren Hotel Group for each residence type.
3.What will the furniture package include?
Each type of residence will be furnished with a comprehensive package created by the Loren Hotel Group.
4.Is there and Home Owners Association or Strata Corporation?
The Condominium Residences have an individual Strata Corporation, which is a vehicle used to differentiate ownership and maintenance of a vertical space. The Strata Corporation is in turn part of the Villa HOA.
5.What are the projected Strata Fees?
The Strata fee is the equivalent of Homeowner Association (HOA) fees. It is estimated to be between USD $18 and $21 per square foot per year, which is very competitive with the Island average.
6.Is the beach private?
The beautiful beaches of the Turks and Caicos are all accessible to the public. However, the property is located on an intimate cove that will have cabanas, sunchairs, and umbrellas exclusively available to Loren owners and guests. Our excellent beach-front team will attend to these amenities and serve food and beverage from the beach bar.
7.Will there be security on the property?
Yes, the property will have the highest security to protect our guest's safety.
8.Will pets be allowed?
Subject to rules established and approved by management.
9.Will 24-Hour Room Service be available?
Yes, the Loren at Turtle Coves Third Turtle Restaurants food and beverage team will be at your service 24/7/365.
10. Do you have a Kid’s Club?
One of our core values is to provide younger guests with memorable experiences. Our spacious on-site Kid’s Club, located near the main pool, will provide inspiring and fun activities with a special focus on the elements and discovery of the reef, steps away from the Kids Club.
11. When will the project be completed?
Estimated completion Q2 - 2026
BEACHFRONT VILLAS
1. Do the Villa Owners have access to the Hotel services and Amenities?
Yes, villa owners have full access to the Loren at Turtle Cove’s amenities and services
2.Do the Villas come furnished?
No. The villas are not furnished. However, you may purchase a custom furnishing package created exclusively by the Loren Hotel Group.
3.What will the furniture package include?
The villas will be furnished with a comprehensive package created by Loren Hotel Group.
4.Is the beach private?
The beautiful beaches of the Turks and Caicos are all accessible to the public. However, the property is located on an intimate cove that will have cabanas, sunchairs, and umbrellas exclusively available to Loren owners and guests. Our excellent beachfront team will service these amenities.
5.Will there be security on the property?
Yes, the property will have the highest security to protect our guest's safety.
6.Will pets be allowed?
Subject to rules established and approved by management.
7.Do I have to rent my villa?
No, the rental of your villa is optional.
8. Is there a benefit to buying a Villa Pre-Construction?
Yes, Stamp Duty is only payable on the land value allocations.
9. What are the land value allocations within the purchase price of the villas?
The beachfront homesites range from USD$3.5 to $4.5M (Homesite prices subject to change without notice) -
10. Who manages the construction of my villa?
The Loren Team offers the highest standard of construction techniques, eliminating the challenging task of managing the construction process yourself.
11.Is there and Home Owners Association or Strata Corporation?.
Yes. There is an HOA that is responsible for maintenance of the common areas (gates, roads, fences, common areas), as well as some centrally managed utilities like refuse removal. All of the Loren Development, Turtle Cove are part of the HOA.
12.When will the project be completed?
Estimated completion Q2 - 2026
MANAGEMENT
1.Who will manage the residences?
The Loren Group curates, develops, owns and operates low-density luxury hotels, residences, and restaurants, catering to seasoned, discerning guests from around the world.The Loren Group is comprised of property developer Sardis Developments and asset management firm C12 Capital Management. For the past 15+ years, the senior members of The Loren Group have designed, developed, managed, financed, and invested in a wide variety of real estate assets—both commercial and residential and will operate the resort and residences upon opening. The resort has been designed to attract sophisticated global travelers.
2.Who will manage rentals of the residences?
The rental program will be managed exclusively The Loren Hotel Group
3.Are owners required to participate in the rental program?
No, the rental program is optional.
4.If I participate in the rental program, is there a limit to the number of days for Owner usage?
If an owner enters into the rental program, they have the option to use of their residence at anytime based on stipulated notice requirements with a limit of two consecutive week usage during the High Season.
5.May owners hire a third party to rent out their residence?
No. To maintain the highest standards throughout the resort, residential rentals will be managed exclusively by The Loren.
6.What is the average of days rented per year at similar resorts in this location?
According to a third-party reporting agency, STR, they reported on Q4 of 2022 that the average occupancy rate for similar competitive resorts is 61% per year. Updated figures are being reviewed for 2023 based on increased average occupancy.
(The information above provided by a third party and is for general information purposes only)
7.Who will set up utilities such as power, water etc.?
Management will assist owners in setting up all residential utilities and services.
8.Do I have to be present on the island to sign all the documents?
No, you do not have to be physically present to sign the documents. Your local legal advisor can assist you in a seamless remote closing.
9.Can family stay at my residence at no charge?
Yes. However, all owners and guests are required to pay standard Hospitality Fee
10.May I purchase more than one residence?
Yes, you certainly may.
11.What is the Rental Management Split?
The homeowner retains 50% of the adjusted rental income with the remaining 50% to the management company.
FINANCIAL
1.What are the price ranges of Condo Residences and Villas?
Condos:
Prices range from USD$1.280 million for the very spacious one--bedroom condo residences and two and three bedroom condo residences from $2.2 million to $4.7 million with stunning penthouses such as the five--bedroom penthouse at $13,552,000.
Villas:
The Loren at Turtle Cove offers a stunning villa enclave consisting of six spectacular 5 and 7-bedroom, Beachfront Villas ranging from US$9,831,900 to $15,141,600.
2.What is the cost of the furniture package?
The furniture is typically purchased approximately 6 to 9 months prior to opening of the property, and the estimated cost is 8% to 10% of the Purchase Price
3.What is the strata fee?
The Strata fee is the equivalent of Homeowner Association (HOA) fees. It is estimated to be USD $18 and $21 per square foot per year, which is very competitive with the Island average.
4.What will the rental split be?
Net rental revenue will be split 50/50, in line with the tradition in resorts on Grace Bay Beach.
5.Are there any taxes in Turks and Caicos?
There is a one-time stamp duty applicable on the real estate purchase price, which is 10% of the purchase price, and payable at the time of title transfer, or completion of the unit.
*There are no annual property taxes and no income taxes in the Turks and Caicos Islands.
6.Will I own fee simple? Do I need a local trustee to hold title?
In Turks and Caicos, all titles are freehold. Your local legal advisor can assist you in the best way to purchase a property in Turks and Caicos.
7.Progress Payment Schedule
Condo Residences:
• $50,000 Upon Execution of Reservation Agreement
• 20% Execution of PSA (10% Deposit+10% Installment - Inclusive of $50K Reservation deposit)
• 20% Completion of laying foundation
• 20% Completion for the roof, doors, windows in the units building
• 40% at Completion
Villas:
• $100,000 Upon Execution of Reservation Agreement
• 20% Execution of PSA (10% Deposit+10% installment-Inclusive of $100K Reservation deposit)
• 20% Completion of laying foundation
• 20% Completion for the roof, doors, windows in the units building
• 40% at Completion
EXCLUSIVE MARINA
1.How many slips will there be?
The Loren at Turtle Coves Exclusive Marina provides 32 slips.
2.What size boat can be accommodated?
Slips can accommodate boats from 30 feet to 60 feet in length
3.What services are provided?
Power, water and Wi-Fi. Concierge Boat services can be provided at additional charge.
4.Can I buy a slip or are they strictly for Lease?
Slips at The Marina are only available for lease and can accommodate boats up to 60ft in length, and feature water and power connections. There are limited spaces for larger vessels, and subject to availability. For pricing and availability please e-mail sales@thelorentci.com.
5.Can I rent out my boat whilst not in residence?
No, to maintain the highest standards, peace and privacy throughout the resort owners cannot use their slips for commercial purposes.
6.Can I buy more than one slip?
Yes. However, availability of slips will be limited and to assure all owners have an opportunity to acquire a slip, second slip leases will be subject to a waiting list.
7.Can I fuel my boat at the Marina?
Fueling can be arranged at Turtle Cove Marina.
8.Will there be security at the Marina?
Yes, the marina will have the highest security.
9.Do I get preferential treatment at Loren, Turtle Cove as a property owner?
As an owner at The Loren Turtle Cove, you are entitled to preferential rates and services at the Marina.We are working towards a boat concierge service that includes fueling, washing, maintenance and provisioning services at your request. Boat owners at The Loren at Turtle Cove, are eligible to request these optional services
9.Will the Resort have access to guest charters from the Marina?
The Loren at Turtle Cove will build relationships with many of the islands top Charter Services to provide the very best in guest experience.
WHY INVEST IN THE TURKS AND CAICOS ISLANDS
The Turks and Caicos Islands are an ideal tourism and real estate investment destination:
3-hour flight from New York and 1.3 hours from Miami, with multiple daily commercial flight connections from many US, Canadian and other international cities.
Two state-of-the-art FBOs exist that allow for convenient access via private plane, Provo Air Center and Blue Heron.
Business-friendly and stable government. Turks and Caicos Islands is a British Overseas Territory, with a Governor who is appointed by Her Majesty’s Government to preside over an Executive Council formed by a locally elected government.
UK law and banking systems: The legal system is based on English Common Law, providing a safe business environment. Global Canadian Banks including Royal Bank of Canada, Scotiabank, and CIBC FCIB provide a stable banking environment and reliable lending facilities to local and foreign home buyers.
US Dollar as the currency and English as the official language.
One of the highest GDPs in the Caribbean region and a very low crime rate.
Low Tax Jurisdiction: There is no land/asset holding tax, thus investors would not carry any on-going tax burden. Furthermore, there is no corporate, capital gains or inheritance tax. The only taxes currently in place are regular import duties on items brought into the country and a one-time Stamp Duty on real estate acquisitions.
Modern healthcare: There is a modern, state-of-art healthcare center in Providenciales (Cheshire Hall Medical Centre). Health services provided at the centers include: emergency care, dental, dialysis, internal medicine, surgical, orthopedic, obstetric and endoscopic procedures, physiotherapy and diagnostic imaging.
There are no restrictions on foreign property ownership. Land titles are held personally or in a Trust or Corporation. Land is owned by freehold title in the TCI.
In addition, the fundamentals of Turks and Caicos as an investment and vacation destination are unparalleled:
Beautiful weather and warm waters year round
The best beaches and clearest ocean in the Caribbean
Close proximity to North America with convenient airlift
***Turks and Caicos has repeatedly achieved accolades as a leading travel destination worldwide as per TripAdvisor voters and other travel related bodies.
The Loren at Turtle Cove Residences
Turtle Cove, Providenciales
The Turks & Caicos Islands
Tel: 649.432.7653
sales@thelorentci.com thelorenresidence.com
This is not an offering or solicitation in any jurisdiction where prohibited by law or where prior registration is required but has not been obtained. Information provided by Circle Holdings Ltd. or its affiliates through the marketing materials is preliminary in nature. All artistic or architectural renderings, sketches, graphic materials, prices, plans, specifications, terms, conditions, statements, features, dimensions, amenities, existing or future views and photos depicted or otherwise described are proposed and conceptual only. They should not be relied upon as representations, express or implied, of the final detail of the proposed improvements. The plans and renderings illustrated depict the overall style of the development, are not drawn to scale, are for illustrative purposes and are indicative only. The exact dimensions of any plot or unit may vary and should be confirmed prior to legal transfer of the title to the plot or unit. The development plans and all amenities, features, finishes, floor plans, renderings and other information shown (including but not limited to pricing, design, services, building height, unit sizes, room layouts, and the configuration and location of appliances, cabinets, closets and other features) are subject to change without notice. Described finish options are for illustrative purposes only and do not constitute an agreement or commitment on the part of Circle Holdings Ltd. or its affiliates to make available such finish options. Use of certain facilities, amenities and services may be subject to strata/homeowners’ association documents and fees set by the strata/homeowners’ association from time to time. All prices and specifications subject to change without notice.