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INTERVIEW: Randall Oveson, General Manager and Developer of Cades Beach Resort, Nevis

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Experts in luxury tourism and travel magazines refer to Nevis as ‘The hidden gem of the Caribbean’ and one of the most beautiful islands in the region. Charming and quaint, the island welcomes travelers who are looking for a true Caribbean lifestyle in a sophisticated ambiance.
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Nevis is also a gold mine for international entrepreneurs and wealthy individuals who are looking for a valuable investment opportunity with a second citizenship option. A way to gain dual citizenship is by investing in the island of choice. Cades Beach Resort might be the perfect fit for those looking for a vacation home in Nevis and a smart investment.

Located on the sunset facing, west coast of island of Nevis, Cades Beach Resort is the perfect getaway for your private Caribbean delight. Positioned on 5.2 acres with over 650 feet of beach-front property, Cades Beach will feature approximately 100 keys in a mix of luxury standard and master suites, that will be sold individually, and 10 beach cottages, which will be retained by the resort group. Resort facilities will include a beach club, restaurant, fitness center, spa and pool.

Each hotel suite will feature views of the Caribbean Sea offering spectacular vistas across the 2-mile narrows to the island of St. Kitts. We met with Randall Oveson, Developer and General Manager of Cades Beach Resort, Nevis to speak about the project and island life.

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TECJ: Why Nevis? Will the resort concept reflect the special island lifestyle? 

Randall Oveson: Nevis has the oldest and most proven CIP programme in the Caribbean. Not only is it highly competitive, but they are attracting the cream of the crop when it comes to brands and developers. Nevis itself is a beautiful island off the beaten path–accessible but with a remote feel. The resort, in both design and function, will honour the Nevis island’s look, feel, and lifestyle.

 

TECJ: What distinguishes Cades Beach Resort from other CIP approved developments in St. Kitts and Nevis? 

RO:  We are offering a guaranteed fixed return through a developers incentive at Cades Beach Resort during the construction phase. We then anticipate hotel operations (beginning in the 3rd year and reaching fruition by the 5th year) to provide a return in the 5-7%+ range for the life of the investment, an excellent situation for those who want to hold their investment for the minimum 5 years and then resell. The beach location is ideal on the island for a number of reasons.  It’s easily accessible by sea-bridge and water taxi, and the views overlooking the Caribbean side of the island facing St. Kitts focus on the pristine tranquil beach.

 

TECJ: What is the construction timeline? 

RO:  We expect to begin Phase 1 within 3-6 months of final approvals and the final phase within 3 years.

 

TECJ: What are the expectations for resort operations?  

RO: Nevis currently offers a number of very high-end resorts. However, with the exception of the Four Seasons, these are all much smaller (30 room or less) resorts. The Four Seasons has been getting rates around $600 out of season and close to $1000 a night in-season. With rumours of an acquisition of the Four Seasons and a pledge to invest another $40 million into the property, we expect these rates to rise dramatically. This will give the Cades Beach Resort an excellent position to come into the Nevis Resort market as a mid-range property with an average daily rate of $400 to $600 nightly. As stated above this will provide solid returns for years to our investors.
To help the investor begin a new international lifestyle, the developer also provides these additional benefits:

  • Nevis mailing address
  • Nevis offshore LLC company formation
  • A bank account at the Bank of Nevis—International
  • Secretary and virtual office services are also available (additional cost)
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