SOUTH RIDGE DEVELOPMENT
LAND
INVESTMENT OPPORTUNITY
SOUTH RIDGE DEVELOPMENT
LAND
RESIDENTIAL LAND FOR SALE BDS$5,750,000
Development Summary • 16.77 Acres • Planning permission secured for subdivision into 35 residential land lots • Lots approximately 20,000 sq.ft. each • Gross sales of individual lots - $9,297,346 • Absorption period - 3 years • Internal Rate of Return (IRR) - 23% • Profit - $2,354,754
The Opportunity
The Location
South Ridge Development Land is a large residential site comprising 16.77 acres, with planning permission for the subdivision into 35 lots, some of which may benefit from distant sea views. The infrastructure has already been completed, with roads, electricity and water in place. This development is differentiated from others in the market in that it presents an opportunity to capitalise on the existing desirable South Ridge neighbourhood along with the limited number of available lots.
The property is located in the mature South Ridge community. This location is within close proximity to several amenities and business districts on the south coast including beaches, banks, supermarkets, restaurants and Sheraton Mall. There are also a number of other sought-after residential communities such as Fort George, South View and the Grove nearby. Its proximity to the highway provides easy transportation links to the east and west of the island.
16.77 acres, with planning permission in place for the subdivision into 35 land lots. Subdivision plan
The Market
Development Cash Flow Analysis
Barbados has a strong history of stable real estate values over time. The demand for land in central locations continues to be favourable.
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The Central Bank has forecasted economic growth for the next five years to be in the region of 2 percent per year. This growth will be driven mainly by improvements in the tourism sector, construction, and business and other services. There are a number of large scale real estate development projects due to start in 2017, including new hotels, housing and condominium developments. It is expected that these will further stimulate market activity and growth.
The Development Traditionally, South Ridge has been regarded as a local, upscale community, which has always been in high demand. Considering current market conditions, the Cash Flow Analysis (Figure 1) estimates a sell-out period of 3 years for the 35 lots 18 lots in Year 1, 10 in Year 2 and the remaining 7 in Year 3. The lots are large, averaging approximately 20,000 sq. ft. An average sale price of BDS$265,000 has also been estimated per lot. At a sale price of $5,750,000, a profit of $2,354,754 has been calculated.
Location Map
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Figure 1
South Ridge site outlined in white
For additional information please contact:
TERRA CARIBBEAN â&#x20AC;&#x2DC;Somerleyâ&#x20AC;&#x2122;, Worthing, Christ Church, Barbados Tel: 434-9000 Email: infobb@terracaribbean.com
terracaribbean.com
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