Property investors looking for a good return on a new-build buy-to-let have an opportunity to guarantee a return of 8% a year at a brand new golf resort development taking shape in just 20 minutes from Plymouth. Esprit St Mellion is offering this three-year deal, and a host of other benefits to investors in the first 27 properties of this 66-unit complex of new homes in Cornwall.
Overlooking a Jack Nicklaus Signature Golf Course and the Kernow course, between them hosts of a dozen European Tour events, the development will offer a mix of two-, three- and four-bedroom apartments and houses for sale for investment.
With the Investment Guarantee Scheme, owners get 8% per year return for three years from the date of purchase. Buyers get three weeks annual use in the mid- and off-season, with negotiable deals for use in high season. Early-bird investors also get free three-year membership to the mature resort's roster of leisure facilities, including pools, spa, gym, tennis, bowls and a kids' club, plus discounts on food and drinks at the four-star hotel on the resort.
Developer of Esprit Shaun Fox says: "Whilst investors will get a guaranteed return for the first three years, most investors will want to be assured of the long-term potential for renting their property and of capital appreciation. St Mellion is already a mature resort destination with all of the resort facilities in place and fully functional, unlike some other UK and European resorts. Cornwall has an enduring popularity both within the UK and further afield. We are confident that the facilities on site, and all the regional attractions, will be sufficient to keep any family or visiting guests entertained across all seasons."
With self-catering and "staycation" holidays in the UK increasingly popular since the onset of the credit crunch, and the South West of England the destination for 20% of trips by UK holidaymakers in 2011, there are compelling economic reasons for investors to consider this new project. The first homes are due for completion by Easter 2013, in time for the summer season.
The properties are timber framed and boast a high-quality specification that includes underfloor heating, bespoke kitchens, oak staircases and elegant bathrooms, with high-vaulted ceilings adding a stylish touch to the rooms on upper floors. Prices range from £205,000 to £450,000.