SMC - Presentation
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Transcript of SMC - Presentation
St Mary’s Court“The new commercial hub for the South West Coast”
IntroductionWho we are and what we want to achieve.
• Principal purpose, development of Residential Tourism products across the Caribbean, with our primary focus on the twin island state of Antigua & Babruda.
• CEO Adam Barrett has been involved in the development and marketing of Caribbean real estate for the last 10 years.
• Authorized CIP
representative and approved developer under the Citizenship By Investment Program.
• Strategic Partners – Global Bank of Commerce and OBMI
The Location
The SiteVideo – Fly Over
The Site
The Concept• Develop a Commercial Hub for
the South West Coast
• Incorporate commercial space, hotel / residential components.
• Stimulate the immediate local
community, Constituency of St Mary’s South.
• Utilize the CIP to expedite investment and development.
• Build a lasting, positive and revenue generating center for the constituency.
The PlansSite Plan
Fly ThroughVideo
InventoryWhat we are building
40 Commercial Units – 500 Sqft per•Shops•Restaurants•Bars•Office Space
10 Residential Units – 800 Sqft per•Studio Apartments•Apartments
80 Hotel Rooms – 650 to 800 Sqft per•Single Rooms•Suites
The PlansAerial View
The PlansAerial View
The PlansBuilding One – Hotel Main Building
The PlansElevation Building One
The Project“What the project will offer St Mary’s South and its visitors”
AmenitiesWhat's included
•24 Hour Security
•Landscaping
•Laundry Facilities
•Off Street Parking
•Back Up Power
•Property Management
ShoppingDay to day services such as: •Bank•Pharmacy•Dentist•Optician•Laundromat
Other Stores may include:•Clothing Store•Shoe Store•Local Produce•Specialty Stores•Art Gallery•Convenience Store•Liquor Store
Entertainment• A destination for tourists and
locals alike.
• LIVE entertainment featuring local artists.
• Farmers Markets and Art Shows to display the countries natural ability.
• Restaurants and bars. Alfresco Dining, making the most of the outdoors.
• Wealthy travellers have more deposable incomes to spend on dinners and late night revealing.
• Incorporation of West Coast Village and new alternatives.
• Variations in cuisine to appeal to varying palettes. • Chinese• Indian• Local Fare• Steak House
• Wine Bar, Ice Cream and/or Coffee Shops
• Nightlife to include Piano Bar, Sports and late night spot.
Dinning
Hotel
The site is not located on a beach but is within a three minute walk of Jolly Beach and a three minute drive of 5 other stunning beaches.
This results in a strong location with a lower land price point. This opens up a unique opportunity for low cost hotel brands that want to operate a hotel property without a large initial cost.
With this in mind we have approached three groups to assist in the development of our hotel concept and received responses from each.
80 Rooms.
Onsite Bar & Restaurant.
Rate $175 to $220 USD.
Spa & Pool
Concierge
Access to a strong marketing department
The Demand
There is a serve lack of commercial space. and increasing demand for it on the West Coast.
1,000 Hotel Rooms in a 5 mile radius. A constant turnover of tourists looking to make the most out of their Holiday which all rotates around beaches, shopping and entertainment.
Currently St Johns is the only option.Most guests staying on the West Coast currently need to travel to St John’s in order to shop either via taxi or hire car.
There is wealth within the surrounding area.No other area of Antigua has such an affluent local community with above average disposable incomes.
Economic Impact“What will this project mean for St Mary’s South”
Economic Impact
InvestmentUpwards of $19,000,0000 USD.
Construction Jobs70+ Jobs over a four year period.
Economic Empowerment 40 New Businesses in the area
Long Term EmploymentUpwards of 150 individuals
Long Term ABST RevenuesHotel and store sales will deliver long lasting returns to the government.
Citizenship By Investment “How CIP will ignite the local economy of St Mary’s South”
Citizenship By Investment
• CITIZENSHIP BY INVESTMENT (CIP) The newly adopted Antigua and Barbuda Citizenship by Investment legislation* allows foreign nationals to obtain citizenship through an investment in one of the three categories:
• National Development Fund: $250,000 USD
• Real Estate: $400,000 USD
• Business Investment: $1,500,000 USD
• WHAT DO YOU GET AS A CITIZENOnce a citizen you can travel to more than 130 countries visa free. This is increasingly attractive to Chinese, Russian and Middle Eastern Clients that have difficult in obtaining travel visas to visit Europe and North America.
WHO WANTS & WHY CIP?
Global citizenship is becoming an increasingly popular tool for the world’s ultra wealthy. There are many different reasons why an ultra high net worth (UHNW) individual might seek a second citizenship including:
• Greater stability & security
• Tax efficiency
• Ease of travel
• Higher standard of living
• Children’s education
• Investment opportunities
ANTIGUA & BARBUDA CITIZENSHIP BENEFITS
• Approval within 3 months of submission of application
• Visa-free entry to more than 130 countries in the world
• NO Personal Income Tax on Worldwide Income
• NO Estate, Death, Inheritance or Capital Gains Tax.
• NO restriction on the repatriation of profits and imported capital.
CIP Demand
China
Russia
Middle East
Europe
Citizenship By Investment Program is new to Antigua but not the Caribbean. St Kitt’s has been running their program since 1984. In recent years the real estate sector has exploded and is continuing to grow.
However, Antigua is a far more desirable destination. It has a low crime rate, improved infrastructure, a more developed real estate market and a new citizenship program that has been engineered to last.
Currently St Kitts has experienced a number of setbacks due to poor due diligence and quality control that will result in long lasting affects that will only increase Antigua’s appeal.
However despite this IN 2013 St Kitts generated in excess of $470,000,000 in Citizenship By Investment revenue from more than 1,400 applicants, according to the IMF.
TARGET MARKETS
Well Known CIP Clients
Gerard DepardieuDepardieu’s desire to leave France was in fact so he could become a tax exile. The actor found himself at the centre of a debate over France’s proposed ‘super tax’.
Eduardo SaverinThe cofounder of Facebook, Saverin moved to Singapore. Two years later, he became a Singaporean citizen before cashing in on his shares in Facebook.
Tina TurnerThe Tennessee native, has surrendered her US passport and become a Swiss Citizen. one. Because of more favorable taxation as opposed to the US.
CIP and St Mary’s Court
We would look to place the project into the Citizenship By Investment Program. Both the residential and hotel rooms would be offered for sale under the program along with the commercial units.
We have discussed this project with a number of our partners and the initial feedback has been positive. Hotel Brand association is also an attractive aspect.
• HOTEL ROOM - $400,000 USDLocated within a branded hotel, these rooms would be sold with rental returns to the owner.
• RESIDENTIAL - $400,000 USDLocated above the commercial area these units would be sold fully furnished.
• COMMERCIAL - $400,000 USDThe commercial spaces would be sold as single ownership and enrolled In the economic empowerment program. Giving local business owners rent free spaces for 3 years and the buyer a minimum investment return.
As a way of stimulating the local economy and immediately eliminating the major overhead of establishing a business we would make any CIP commercial units sold available to business owners or entrepreneurs within the constituency on a rent free basis for the first three years of operation.
All they would be required to do is pay their own bills, shop installations and adhere to opening guidelines.
By Selling commercial spaces through the CIP we will be able to provide local business owners and entrepreneurs the following:
Modern facilities
Minimum of 500 sqft
Prime location
Property Management
NO RENT for 3 years
CIP Economic Empowerment