MT Wynne - site development

The area known as Mt. Wynne lies approximately 10 miles from the capital, Kingstown, and 20 miles from the new international Airport.

Although named Mt. Wynne, the area lies at the foot of a series of volcanic ridges and forms a set of three natural bays, each with a secluded black sand beach. Each bay is separated from the next by a natural ridge, approximately 200ft high. These ridges would form ideal locations for the building of exclusive homes.
There is also potential for the construction of a golf course between the three bays which would have the possibility of partial funding by the government.

Big Bay

The part of the site known as ‘Big Bay’ is the most secluded of the three bays, being closed off from access along the beach by natural rock outcrops and high ridges on the North and South boundaries. The leeward highway skirts the inland (Eastern) boundary and the only access to the site is off this road.

The road and ridges on both sides form a natural 3-sided amphitheatre facing the sea with an area of approximately 30 acres.

A small stream runs through the property carrying fresh water from rainfall occurring higher up the mountain areas straight into the sea. It is the author’s opinion that this stream could be relied upon to run for approximately 9 months of the year.

Vegetation is extensive, with indigenous plants forming a green carpet across the entire area. Closely spaced ‘Royal’ palm trees are present on the whole site, creating a unique and pristine eco-environment.

The beach is approximately 250ft long with excellent snorkeling amongst the rocks on both sides of the beach. The beach itself has a gentle slope for approximately 30ft before it drops away to substantial depths making it ideal for yacht mooring.

Little Bay

The next bay north of this is ‘Little Bay’.
Very similar in topography to Big Bay but with a larger area (approx. 50 acres) adjoining an area of hilly land that the Government has indicated it would be prepared to lease as a golf course with the option to sell freehold plots for exclusive homes.

Peter's Hope

Finally, just north of Little Bay is ‘Peter’s Hope’ a naturally terraced amphitheatre of 30 acres with its own protected bay where a marina could be ideally situated.

Land holding regulations

For investors electing to acquire a site through a freehold agreement the process will be governed by the Aliens (Land-Holding Regulation) Act, Cap. 235 of St. Vincent and the Grenadines. In brief, the regulation stipulates the following requirements and fees:

•A license must be obtained and applications are made through the Office of the Prime Minister.

•A local lawyer must be appointed to prepare and submit the application to the Prime Ministers’ Office. The lawyer is also responsible for registration of the license, once granted, with the High Court Registrar.

License application for development of the site must be accompanied by the following documents:

• A development plan for the entire area.
• Physical and architectural aspects
• Details on financing.
• Details on the labour force to be employed.
• Due diligence documentation.

Details of the above documents will be incorporated into the license as performance clauses to which the holder of the license must comply.

Fees: Granting of a license must be registered and carries various costs according to the type of sale, as follows:

TYPE OF REGISTRATION FEES

Sale of land where value of property:

• Does not exceed EC$100,000 EC$10,000.
• Exceeds EC$1,000,000 but does not exceed EC$3,000,000 EC$10,000 plus 6% of the value in excess of EC$100,000.
• Exceeds EC$3,000,000 EC$184,000 plus 4% of the value in excess of EC$3,000,000.
• Lease of land where value of property:
• Does not exceed EC$100,000 EC$10,000.
• Exceeds EC$1,000,000 but does not exceed EC$3,000,000 EC$10,000 plus 6% of the value in excess of EC$100,000.
• Exceeds EC$3,000,000 EC$184,000 plus 4% of the value in excess of EC$3,000,000.
• Other fees Registration Fees Annual general license EC$2,500.
• Stamp duty EC$5.