Ground Floor Investment Opportunities Make Luxury Beachfront Property Affordable at the All-New Palmyra Resort & Spa at Rose Hall.
(MONTEGO BAY, JAMAICA) - April 3, 2005 - Affordable, luxury beachfront property is a rarity in the U.S. and Caribbean, yet the long dormant exotic northern coast of Jamaica is a well kept secret that is rife with investment opportunity. The Palmyra Resort & Spa at Rose Hall provides one of the last untouched, affordable luxury beachfront real estate opportunities in the world and is the first luxury beachfront condo hotel community in Jamaica.
The Palmyra is in the fortuitous position of leading the island's renaissance with its unique luxury real estate investment opportunity, an opportunity that a select few residents will be able to capitalize on through their well-timed investment. Dollar for dollar, The Palmyra offers exceptional luxury with a value per square foot that is only available at a premium in popular beachfront areas including Florida or neighboring Caribbean islands.
Jamaica is experiencing a renaissance brought about in part by the efforts of local philanthropist and developer Michele Rollins of Rose Hall Developments, Ltd. in conjunction with global investors building new hotels and improving infrastructure to attract tourists to the new face of Jamaica.
In addition to notable international projects such as the Ritz-Carlton(r), which opened in 2000, and the Iberostar resort set to open in late 2006, recent developments to the island include the privatization and $189 million renovation of Sangster Airport in Montego Bay, massive road and highway improvements, and The Shoppes at Rose Hall, the new 70,000 square foot entertainment complex dedicated primarily to duty-free shopping.
In addition, the area is easily accessible from more than 20 direct flight markets. All of these well planned improvements will undoubtedly catalyze appreciation of real estate in the area.
"Real estate in Jamaica has seen a flurry of activity over the past year,"
said Nicola Delapenha, sales associate with Coldwell Banker in Montego Bay.
"There is a healthy demand in the area for a limited amount of properties, forcing prices to climb upward. Rose Hall is one of the last hidden gems of great beachfront property, and a unique investment opportunity."
Bringing The Palmyra to life is Rose Hall Developments, the company that has masterfully planned the entire 5,000-acre community of Rose Hall Plantation, in partnership with the Resort Properties Group. The Resort Properties Group is a highly-respected development company with more than 20 years of expertise in creating spectacular, international luxury communities in Europe. With prime location and luxury condominiums, villas and homesites within the beautiful confines of The Palmyra and Rose Hall, the area is destined to become one of the most exclusive communities in the Caribbean.
"This is the last of the great beachfront properties," said Robert T. Trotta, moving force behind the Resort Properties Group, developer of The Palmyra. "The Palmyra presents the perfect occasion to create a sustainable, luxury community that celebrates the island's resources through architecture, amenities and experience. We're pleased to offer a ground floor real estate opportunity in a culturally-unmatched seaside haven."
REAL ESTATE OFFERING
The Palmyra's real estate offering provides exclusive access to the resort for both second home owners and those looking for an investment opportunity through the managed rental program. The Palmyra will consist of 13 duplex buildings comprising 26 villas and five condominium buildings with approximately 630 individual condo units.
Villas will be approximately 3,040 square feet and priced from $1.6 to $1.9 million. The one-, two- and thee-bedroom condos will range in size from 865 to 3,402 square feet with prices ranging from the upper $300s to $1.6 million. In addition, there will be 10, four-bedroom Penthouse units priced at $1.9 million. Groundbreaking for the first phase of development consists of 11 villas, two condo buildings, The Palmyra ESPA, infinity pool and beach, and the project is slated for completion in early 2007.
AMENITIES
The Palmyra gives its residents and guests the opportunity to choose from the very best amenities available. The Palmyra ESPA, a five-star, 30,000-square foot spa, is being designed by Susan Harmsworth, founder and CEO of ESPA, an award-winning spa designer that counts five of the top 10 best spas worldwide, as recognized by Condé Nast Traveler, among her designs.
The Palmyra also offers a state-of-the-art tennis center, a fitness center, three pools—one specified for adults, one for families and one infinity pool, as well as beachside amenities including cabanas, restaurant service and access to adventure gear for snorkeling, kayaking and more. The Palmyra will also host on-site farmer's markets and local craft booths.
PREMIER GOLF DESTINATION
Three internationally-acclaimed championship golf courses wind through Rose Hall, providing challenging and breathtaking golf experiences on the White Witch, Cinnamon Hill and nearby Half Moon golf courses. The Palmyra owners and guests will have preferential access, reduced fees and charging privileges to the course clubhouses and restaurants.
Designed by the course architecture team of Robert von Hagge and Rick Baril, the White Witch and Cinnamon Hill golf courses are just minutes from The Palmyra, while the Robert Trent Jones Sr. designed Half Moon is five minutes away.
About The Palmyra Resort & Spa at Rose Hall
The Palmyra Resort & Spa at Rose Hall is the first luxury beachfront condo hotel in Jamaica, leading the island's renaissance. Located next to the famed Ritz-Carlton(r) on 16 acres of pristine waterfront land in Montego Bay, The Palmyra captures the magical essence of Jamaica, offering unparalleled indulgence in a quaint village setting.
Residents of The Palmyra experience island-style luxury living, privileged access to three internationally-acclaimed golf courses and five-star amenities including ESPA, a signature spa designed by renowned designer Susan Harmsworth. Developed by the Resort Properties Group, The Palmyra provides a ground floor real estate opportunity to purchase a condo or villa within a lush private sanctuary.
