The project, on 7.5 rai of land close to Laem Kai in Rawai – which the company describes as an “innovative yet affordable boutique development” – consists of 36 two-, three-and four-bedroom “Bali-Modern” homes with pools, some single storey, others on two floors, with prices ranging from B7.4 million to B10.5 million.
Common facilities include a clubhouse with gymnasium and 24-hour security with CCTV. Management fees will range initially from B3,900 baht a month to B8,000 for “premier” service.
Project management is by Mr Bell’s Cornerstone, which has been involved in projects such as Katamanda Villas, Kata Gardens Condominium and The Heights (all in Kata); Serenity Resort Residences in Rawai; The River, The Lakes and The Lofts Yennakart in Bangkok; and Northpoint and Northshore in Pattaya.
Andrew Campbell, sales and marketing consultant for the project, said that work on the two show houses will begin in June, completing in December, with the whole project finished in three years.
Asked why the company had decided to go for the low-mid-range market, which most property people in Phuket agree has been very soft for the past five years, he said,
“The last project [of this kind] I was involved in sold out in six months, and in the south end of the island there are no detached villas left under B10 million.
“There’s very little competition at the moment.”
Although the project is off-plan, he said, “We’ll be building ahead. As soon as we have two sales, we’ll start on five houses. We’ve done seven showings in the past week.”
Buyers will own neither land nor home, but will receive 30-year leases for both, with contracts for two prepaid 30-year renewals or, if they prefer, the option to re-register leases every 30 years.