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Atelier House, St. James, Barbados, The Caribbean

$4,750,000

Set on a ridge with dramatic views across a mahogany tree gully to the Caribbean Sea, Atelier House is a stunning 4-bedroom villa surrounded by half an acre of beautiful gardens. The house features double-height living spaces, extensive outdoor terraces and a 32 x 27 ft. swimming pool.

  • 4 Bedrooms
  • 3 Bathrooms
  • Swimming Pool
  • 2 Reception Rooms
  • 0.5 Acres

The large roof terrace and mezzanine-level study offer stunning views of the West Coast.

Sitting on a ridge above the West Coast of Barbados with dramatic views out to the ocean, Atelier House is a stunning Caribbean retreat. The design was conceptualised in close collaboration with the interior architect / owner, who has completed projects for discerning homeowners in London, France, Italy and Kenya.

The dramatic double-height living space maximizes the stunning views which extend beyond the outdoor terraces and pool across a mahogany tree-filled gully to the Caribbean Sea. In addition to the ground-level terraces and 32 x 27 ft. pool there is a large roof terrace and mezzanine-level study offering stunning views of the West Coast. The villa is surrounded by a half-acre of gardens featuring indigenous palms, lilies, bougainvillea and many flowering shrubs.

The accommodation comprises four spacious bedrooms; the upstairs master suite has a glazed balcony with views over the sea and a covered outdoor terrace for relaxing; the en suite bathroom has separate bath and shower facilities. The three guest bedrooms are all located on the ground floor; an en suite guest bedroom features an enclosed outdoor shower, while the two additional guest bedrooms share a bathroom between them.

Further details: The vacant 20,699 sq ft plot adjacent is also available for sale by request. Architect - London architecture with experience across the Caribbean. Design Engineers - Packman Lucas. London firm with a stellar record for innovative engineering design. Ron Packman is the chief engineer for Thomas Heatherwick - arguably one of the world’s most inventive designers. Structural engineering - Alan Armstrong Associates. Local firm from Christchurch, Barbados. All structural elements designed to withstand hurricane force winds. Interiors by Amanda Snow. London based interior designer. Total gross covered area = 4,330 sq.ft Kitchens shipped from UK Worktops and island are white granite All lighting is LED Hot water is electric Furniture (by separate arrangement) includes one off pieces and contemporary classics by B&B Italia, Artemide, Jasper Morrison, Cassina and Ligne Roset.

Bedrooms: 4 Bathrooms: 3

Please be aware prices may vary due to fluctuations in the exchange rate

A BUYING GUIDE

The process of buying property in the Caribbean is straightforward. Below, as an example, we give a basic guide to making a purchase in Barbados.

  • Anyone can buy property in Barbados; there are no restrictions, but if you’re a foreign national you need to get the permission of the Central Bank of Barbados. This is a formality.
  • Your vendor pays a property transfer tax and the stamp duty. See below.
  • You can raise finance in Barbados as a non-national. But if you choose to bring the finance with you, it must be registered with the Central Bank.
  • For legal conveyancing of ‘unregistered’ land (which most is) you pay legal fees on a sliding scale:

Up to BDS $25,000 BDS*: $1,000
On the next BDS $75,000: 2.5%
On the next BDS $100,000: 1.5%
On the next BDS $300,000: 1.25%
Amounts above this threshold: 1%

  • Further fees will be payable if you’re borrowing for the purchase, based on the loan amount.
  •  You should also budget for an annual land tax. Rates range from 0%-0.75% of the value of the property. The tax has a ceiling of BDS $60,000.

 

 * As at 4May 2016, £1 = $2.90 Barbadian dollars

IF YOU’RE SELLING
  • The seller pays a stamp duty of 1%.
  • The seller pays a transfer tax of 2.5% for sales above BDS $50,000, or $150,000 if a building is part of the sale. 
  • To avoid both these taxes, many non-resident purchasers establish an offshore company to buy and own the asset. This also avoids any issues with withdrawing 100% of sales proceeds at once.
TAXATION
  • There are rules on repatriating the proceeds of property sales from Barbados. As things stand, you may withdraw the original purchase price, and a gain of 4-8%. Any further profit can only be taken at the rate $100,000 a year, although the Central Bank may exercise some discretion for senior citizens and emergencies.
  • There is no capital gains tax for non-nationals.
  • You may also leave your property to whoever you choose; there are no succession laws for non-nationals.

Please note: This article reflects Aylesford’s current understanding of property legislation in Barbados as at November 2015. It is offered for general guidance only; specialist legal and tax advice should always be taken for any property transaction.

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