Dennise Williams, Staff Reporter
FOR THOSE of you eager to buy property in the resort areas of Jamaica, the first upscale, gated residential community in Negril is currently in the works.
Negril Estates, located three quarters of a mile east of the Roundabout, is a sweeping development boasting all the features of First World living. Sunday Business visited the site and was taken on a tour of the property by developer and broker of Paradise Real Estate Brokers, Patrick Fletcher. The scale of the development shows that Negril Estates is not just any development.
GO FIRST CLASS
Mr. Fletcher has in mind a locale that will see Wall Street players working from their home in Negril and discerning residents being part of a community that epitomises elegance. Since ground was broken in October 2003, or "October 30th at 2 p.m., we started cutting the road," as Mr. Fletcher puts it, 24 per cent of the 158 serviced lots have already been sold. According to the developer, what makes Negril Estates special is the special care in catering for just the right individuals. "Many Jamaicans want to live in Jamaica, but it must be on the level that they know abroad. I'm offering First World upper class living." Indeed, Negril Estates promises the following amenities to attract persons with high expectations.
Each lot is unique.
Many lots have views of the Caribbean Sea, the mountains or the Royal Palm Reserve
24-hour security patrol
Manned security for the front gate
Remote access security card for the front gate
On-site water tank
Sidewalks
Curb walls along roadways
Wide roads
Fibre optic cables for high speed Internet access
Tennis court
Clubhouse
Children's park with swings and slides
Underground sewerage with gravity feed to prevent system breakdown
OTHER DEVELOPERS WELCOME
And Mr. Fletcher isn't planning to keep all this beauty for himself. In the development, there are five multi-family serviced lots. They are over one acre in size and priced at US$350,000 and were created for other developers who want to build townhouses or apartments.
"I welcome other developers to put townhouses and condos on any of the multifamily lots we have. A professional developer will know how to maximise his investment in the lot. Really, all they have to do is put up a building. We already have sewage disposal systems and a gated, secure entrance. After the developer has built his units, all the lot will need is a little landscaping."
HOME SWEET HOME
Of course, one must ask the price for all this luxury. The pre-competition prices start at US$35,000 (approx. $2.1 million) for lots sized 7,200 square feet. However, individual lots go up to 19,000 square feet. Once you secure your dream lot, the next step is to build your dream house. To facilitate that, the developer has 12 architectural drawings for you to choose from. "Well, we try to make the building process a little easier for our clients, but you are not restricted in your design. Any design approved by the planning authorities can be constructed."
Plan on spending another $6 million to "build a comfortable home of three bedrooms, three bathrooms with living, dining and kitchen." Additionally, a membership fee of US$5,000 will be required to cover the maintenance costs of the development for the next 10 years.
THE EARLY BIRD
Mr. Fletcher is convinced that he is offering a quality product at a low price. "Right now, the property is in the development stage. We have not put up the gate or paved the roadways. But we are not far from doing that. Already, a valuator has come in and said that once the development is complete, with landscaping and the works, the lot prices will easily double in value. In fact, other property owners in the area have begged me to hold off on the infrastructure works, build the front entrance to the development so that their property prices will rise."
OWNING A PIECE OF NEGRIL
Jamaica National Building Society, Scotia Jamaica Building Society, and Victoria Mutual Building Society are on board with Mr. Fletcher to offer mortgages to qualified clients. And while eager to sell lots, Mr. Fletcher is strict on who can buy into the development.
"We only want people of high calibre. Our target market is the professional, returning residents and persons of good standing in their community. To keep our standards high, we have turned down offers from people who we know won't abide by the restrictive covenants of the development and feel that they can do what they please."
Mr. Fletcher expects completion by June 2005.
