Blunder Bay Estates is being developed as a luxury, exclusive estate and NOT a resort.
The concept is to provide lots of land for purchase under a crown lease.
Buyers design and build their own properties on the lots. This give owners to freedom to design their dream home, not purchase a pre-built villa.
Blunder Bay Estates provide all the necessary on site infrastructure.
The North Sound of Virgin Gorda has become an area of high end development, through Mosquito Island, (owned by Sir Richard Branson), Blunder Bay Estates (Owned by private equity group), Necker Island (owned by Sir Richard Branson) and Eustacia Island (owned by Larry Page the Co-Founder of Google).
North Sound is on the north-east tip of Virgin Gorda and is a large deep-water bay that is well protected by Virgin Gorda, the surrounding Islands of Mosquito, Prickly Pear, Eustatia and several reefs.
It is one of the premier destinations in the BVI as it has a wide variety of well protected anchorages, great beaches, reefs and snorkelling destinations and marinas.
It is a famous playground for mega-yachts and their owners and is the Caribbean headquarters of The Yacht Club Costa Smeralda which was founded in Porto Cervo, Sardinia in 1967 by its current president His Royal Highness the Aga Khan.
Each plot will be sold with Infrastructure, which is currently under construction and consists of the following;
A 12-foot-wide independent road within a 24-foot-wide easement has been constructed and will provide access to each of the lots.
Landscaping along road.
3 x concrete culvert crossings
Trenching for the utilities has now completed.
All services are run underground to the Lots.
Power will be provided via British Virgin Islands Electricity Corporation.
Main transformer stations, and distribution cables to each lot.
Electrical and generator house.
WATER SUPPLY INFRASTRUCTURE
The following will be constructed:
All the Lots will have high-speed internet access and telecommunications
Fibre optics and Fibre To The Home – Smart Homes
Six of the Lots on the North Side have 80-foot unique docks already constructed.
The remaining Lots on the South Side will share an exclusive dedicated marina dock with 12 allocated slips, including five berths for visitors and operations, and a barge ramp.
All Lot owners have a berth in the exclusive marina.
The marina is already constructed and in place. Water and electricity to be installed.
Marina reception building
ESTATE MANAGERS RESIDENCE AND WORKSHOP
A Manager’s Residence will be built, allowing for the managers to be resident on site, catering to the needs of all home owners.
There will also be a workshop.
BEACH & BEACH LANDSCAPING
Four properties are set on two different white-sand beaches.
There are three oceanfront properties.
There are two hillside properties.
There is one ocean bluff property.
All properties have access to 4 white sandy beaches.
Other community amenities include a BBQ, pizza oven, water sports recreation pavilion, and beach pergolas.
A special heli-pad has been designed for construction.
ESTATE LANDSCAPING AND LIGHTING
Carefully created Landscaping and lighting is planned for the Beach, Road, and other Estate areas.
The landscaping will comply with our Environmental Impact Assessment.
The lighting will be environmentally friendly and Turtle friendly to minimise impact on the eco system.
A Land Holders Licence is required– the process of obtaining one in the past took almost 12 months, but recently the system has improved significantly and a more realistic time frame is now four to six months. Investigation into potential buyers is a mandatory procedure which can take time.
Yes you can, and Blunder Bay can help with introductions to BVI based architects if needed.
Yes, but they would need to obtain a work permit if coming from abroad. Preference would be given to project engineers who already have, or are exempt from, a work permit.
The BVI has plenty of experienced contractors. It is customary to put the contract out to bid and then select one. For a Blunder Bay Estates construction it would be recommended to select one with experience of building residential homes with only sea access.
Yes, but only through the exclusive use of Blunder Bay Villa Rentals Ltd
Because the CROWN LAND is 99 years with an automatic renewal, the stamp duty on transfer is 1.5% of the annual lease rental capped at 20 years.
EXAMPLE – if a home owner leased a piece of land valued at $4m and the annual lease payment, (which is not a tax) is $5000, the stamp duty is calculated as follows:
20 years x $5000 = $100,000 x 1.5% = $10,500 = (Stamp Duty) a one off payment.
If the same piece of land was purchased as freehold, the homeowner would pay 12% Non-Belonger stamp duty based on the Higher of the appraised value or purchase price.
EXAMPLE: A freehold Lot priced at US$4m would pay Stamp Duty of (US$4m x 12%) = $480,000.
Assessed annually at the rate of $50 for sites up to 0.5 acre, $150.00 for sites between 0.5 and 1.00 acre and $50 for each additional acre or part thereof.
Calculated at the rate of 1.5% of the assessed annual rental value. In practice this means that for an average two or three bedroom house the annual taxes will be less than $500.00.
A house worth US$5m, will be assessed on annual rental value of approx. $270K.
Calculation whether rented or not $270,000 (annual rent assessment) x 1.5% = approx. $4000 p.a. (annual house tax)
The assessment is negotiable with Government, and the maximum payable will not exceed $5000 as stated by the BVI Tax Office.
The prices of property in The North Sound are increasing against all World Trends, and owners are seeing exceptional rental returns and capital growth.
Concierge services will be available to home owners, including:
A full list can be found on the Concierge Service page