CARIBBEAN FRACTIONAL OWNERSHIP Vacation Home
Turks and Caicos Islands, BWI
These wonderfully secluded islands are surrounded by several hundred miles of vibrant coral reef, which consistently place them among the top dive destinations in the world. Once a private escape for well-to-do families like the Roosevelts and the DuPonts, the beauty and wonders of the Turks and Caicos are now accessible to all. The beauty and peace of these islands is protected by the reefs, which make The Turks inaccessible to large cruise ships.
Turks and Caicos - The Experience
The Turks and Caicos provide the quintessential Elite experience. With sandy white beaches and clear blue water, there is no better place in the world to have a waterfront family retreat. The weather is consistently great, with an average of 350 days of sunshine annually. Hurricanes and tropical storms are extremely rare. TCI has had a total of 8 hurricanes since 1933, only 3 of which were category 3 or higher. The cooling breezes of gentle easterly trade winds moderate the warm temperatures. You can just lie on your back, floating in the clear turquoise water and never know that the world outside existed.
As far as activities go, TCI's reefs are a world-class diving mecca. Sailing, fishing, eating, and generally relaxing are all favored activities of ours when on Provo. The restaurants are first class, whether it's fine dining, or a beach side shack, which incidentally, have some of the best food on the island. From Taylor Bay, it's just short drive over to Grace Bay, where amenities such as shopping, day spas, and golf are all available.
Oceanfront Property
Elite's journey as a company began in the Turks and Caicos, on the island of Providenciales, or "Provo" as it's commonly known. Here, in 2005, the idea for Elite's Private Co-ownership model was born, when a group of like-minded friends decide, they would buy, and share a villa on Taylor Bay. The beautiful, clear turquoise water, the consistently gorgeous weather, and significantly, the potential for growth in the value of Provo real estate drew them.
TCI is in a much earlier stage of development than the more popular and populated Caribbean destinations, such as the Bahamas or Barbados. Only Providenciales and Grand Turk have significant infrastructure. Elite has invested in ocean front property here, which, we believe, will grow in value at the fastest rate. Elite's two existing homes average thirty weeks of rental occupancy on an annual basis, which solidifies the already high value of the properties. Elite's investment strategy in the Turks and Caicos is paying off as the price of waterfront property has steadily risen. We have and will continue to pass value on to our owners present and future.
Track Record
The Turks and Caicos have figured prominently in the Elite strategy from the outset. Elite’s first foray into the Turks and Caicos was building a four bedroom, four bath ocean front home. Elite identified a piece of land that could be purchased advantageously. Elite then interviewed the rental agents that cater to the high-end tourist villa rentals. Elite designed the home to have maximum appeal for personal and rental use. The home has consistently generated over 30 weeks of rental over the past four years. The home is currently under contract for just over two times its cost of acquisition and development.
Elite Destination Homes’ second development was an ocean-front villa situated on an acre of ocean front property with over 200 feet of pristine shoreline. Elite purchased the home in 2005 and completed an extensive renovation in January 2008. The home is comfortably worth twice what the Elite group acquired it for.
Villa Lynda, Elite's third home on Providenciales was completed in January 2008. Villa Lynda is located in Chalk Sound, and has its own small private beach. This brand new four bedroom, four-½-bath ocean side villa looks out over crystal waters from every room in the home. The home has extraordinary indoor and outdoor living spaces, including an outdoor kitchen.
In addition Elite has a new oceanfront villa, Taylor Bay House, under construction. Bay House, situated on an oceanfront lot, with 3,500 sq. ft. of indoor living space and 2,000 sq. ft. of outdoor living space, will feature four master suites, each with its own full en-suite bathroom and private access to a terrace that overlooks the water. The Taylor Bay House, will be complete at the end of 2008.
Every time Elite acquires or develops one of these homes or lots, we own the real estate while we are looking for the right group of partners. We are confident enough to make these investments with our own resources. We hope this will provide our prospective clients confidence as well.
To learn more about the benefits of becoming an Elite owner in the Turks and Caicos, Click here or call 1-866-650-4334.
