Belmont House Castries, St Lucia, St Lucia

$1,395,000 USD

Details
Location
All Photos
Guide

Property Details

FOR SALE
4 Bedrooms
3 Bathrooms
8.5 Acres
Close Beaches
Majestic Situation
Built from cured green heart
Sweeping ground floor verandah
Spacious original Creole mansion
Garden
Online Viewing By Request
Parking

Belmont House Castries St.Lucia Built in 1895 by Captain Lastic

Belmont House was constructed in 1895 by an industrialist, who traded in coal, a prominent resident called Captain Lastic. The house has also been known as the Lastic House.

Set amongst 8.5 Acres

Built in a prime location amongst acres of verdant estate this property is quite simply unique upon the island.

Original Antique Floors, Shutters & Doors

It is probably the best preserved large Creole house in St. Lucia and would rate as one of the finest Creole houses in the Eastern Caribbean.

Built from Cured Green Heart

This astounding property was constructed of cured green heart, a dense tropical wood that is resistant to insects and humidity. Much of the original construction was assembled with dowels and legs, not nails. The roof is galvanised metal. The wooden house sits on a raised concrete arcaded plinth. The ground floor is surrounded by a wide 360 degree verandah.

Prominent Position in Capital

Due to the nature of Captain Lastics business interest Belmont House was positioned to enjoy first rate views over the harbour and ocean.

Only 4 Owners to Date

BelmontHouse in the last 115 years has had only four owners, among them the Lastics and the present owner who has spent twenty-seven years conserving the house and the eight and a half acres that form its park.

Perfect Position, Cooled by Tradewinds

The house was sited to take full advantage of the refreshing trade winds that blow from the northeast almost every day of the year affording a natural consistent ventilation. No central air conditioning is required.

Surrounded by Rare Indigenous Breeds

The properties grounds is lush and hardwood trees, medicinal plants and trees, decorative trees, fruit trees and rare palm trees abound. The majestic local white cedars for which this area of Castries is named flourish to the rear of the house as do mahogany, silk cotton, six varieties of mangoes, varieties of palm from sago to gwi-gwi to talls. There are giant bamboo groves, golden apple trees, tamarind trees, breadfruit trees, windflowers, orchids and wild orchids. The park is a refuge for rare birds.

Location

Villa Location

St Lucia >
St Lucia >
Castries

All Photos

Buyer's Guide

Buying a property in St.Lucia where there is a tax haven with no VAT, no capital gains tax, no inheritance tax and no estate tax makes a great deal of sense. St.Lucia is one of the worlds top destinations for weddings and honeymoons making a holiday rental property potentially lucrative. St.Lucia has really embraced the worldwide taste for health spas with the first St.Lucia Health & Wellness Retreat, supported by the government and private businesses, being established and opening soon on the island. Being one of the most accessible islands in the region with the lowest crime rate St.Lucias affordable properties offer an ideal opportunity for investment. Comparable in many ways to neighbouring Barbados but with house prices ranging from 40-60% lower this beautiful island should not be overlooked as an investment opportunity.

With a total land area of just 620 sq miles St.Lucia, often called "The Helen of the West Indies" because of its natural beauty, sits in the ocean like a shimmering jewel. Pristine white sandy beaches, tropical forest populated by rainbow-plumed birds and acres of orchards filled with sweet smelling tropical fruits such as mango, papaya and banana are crowned by the islands twin peaks the Gros & Petit Pitons.

How to buy St Lucia property
There are certain rules and regulations you must comply with as a non domicile of St Lucia in order to purchase a St Lucia property. For instance, you will need to apply for an Alien Landholding Licence. Generally the cost of purchasing a property on St Lucia will come out at between 6-8% on top of the purchase price. This will cover stamp duty, the Alien Landholding Licence, Treasury receipt, legal costs and registration fees. If you are taking out a mortgage, lenders tend to charge a set-up fee.

Alien Landholding Licence
Foreigners must apply to the Ministry of Planning for an Alien Landholding Licence which costs EC$1,500, is non-refundable and does not need renewing. The process takes up to 16 weeks as the application is vetted by the Physical Planning Office of the Ministry of Physical Development, Environment & Housing, approved by the Prime Ministers Office and finally by the Office of the Attorney General.

Your locally appointed lawyer will make the application for the Alien Landholding Licence on your behalf. Along with your completed application you will need to provide the lawyer with the following information:

Certificate of character for each applicant (from your local police station)
A bank reference
Your CV
A copy of your passport data page
Full set of fingerprints (from your local police station)
Statutory declaration
4 passport size pictures of each applicant
Full details of the proposed property or land purchase (including a survey plan and land register of the property (from the Vendor) and a value assessment of the land or property (although the value assessment may not be necessary
Receipt proving payment of application fee
Initial approval from the Development Control Authority (this may not be necessary).

In addition to the application fee for the Alien Landholding Licence, the following fees are applicable depending on the land area of your property.

Land Area (in acres)    Price (in EC$)
Under 1    $5000
1-10    $10,000
10-20    $20,000
20-50    $30,000
50-100    $40,000
100+    $50,000

Deposits
There is no standard procedure on this, but common practice is to offer 10% of the purchase price as a deposit, which is forfeited if the buyer pulls out. If the vendor pulls out then the buyers 10% is returned as well as 10% from the vendor plus an additional penalty of 10%. In the unlikely event that the Alien's Landholding Licence is not granted, then the deposit is refunded.

Annual Property Tax
5% of the unfurnished rental value of your property, regardless or intent of use.

Stamp Duty
2% of purchase price

Vendors Tax
10% for non citizens or 5% if the property is owned by a local citizen of St Lucia.
There is no vendors tax if the property is owned by a company as you would transfer the shares in the company as a way of transferring the property (rather than by deed of sale). It is therefore best that all foreign clients sent up a local company and to apply for the license in the company's name. When you come to sell, you will be selling the company rather than the property itself.

There is no capital gains tax, inheritance tax or gift tax in St Lucia.

Local solicitors / lawyers usually charge 3% to 5% of the purchase price.

There are certain very attractive tax incentives available to a selection of 'returning residents' of St Lucia including the right to ship a container of 'personal goods' without paying duty on them and importing or purchasing a vehicle duty free.

To qualify for 'returning resident' status you must be a citizen of St Lucia, either by birth or parentage who is returning to St Lucia after a minimum of 10 years off the island or be married to the aforementioned citizen.

There are strict guidelines as to what constitutes 'personal goods' and various limitations that should be read thoroughly. For up-to-date information please contact your local Consulate General of St Lucia, or contact one of our agents.

Example of a full listing here - http://www.guidetostlucia.com/returning-residents.html

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