Paradise is only two in-flight movies away

The tiny, unspoilt Caribbean island of Tobago is in the early stages of resort development and canny British and American investors are already snapping up luxury condos and villas. What's more, it's mosquito-free, says Ginetta Vedrickas

T ravelling distance and climate are key considerations when buying property abroad and many UK buyers think nothing of spending hours driving to homes in the south of France in pursuit of better weather. But if you don't mind travelling by plane, a journey time of seven hours brings you to Tobago, with constant good weather, tropical breezes and much more. Tobago Plantations, the island's first ever beach and golf resort, is now being sold in the UK by Premier Resorts of Surrey, with 600 properties under construction on a 750-acre resort in the Lowlands area of the island.

The development is set around the 90-acre Petit Trou Lagoon and includes a mile of sandy beach fringed by palm trees. An 18-hole golf course, country club and five-star hotel is already established in the resort, the first phase of which was built in 1997, but longer term plans include a marina, health spa, tennis court, botanic garden and butterfly park. A commercial centre including shops, bars and restaurants is planned over the next six years.

Virtually all the 74 luxury condominiums from the first phase have sold – some are available for resale – but buyers who want a head start on the next phase can secure plots from US$246,500 up to US$492,000 for a half-acre plot. Graham Grant of Premier Resorts says: "These prices are among the most competitive in the Caribbean. On other islands purchasers can pay up to five times as much for a comparable plot."

Buyers can choose from a range of properties, such as two-, four- and six-bedroomed detached villas, and bungalows, all with plunge pools and private gardens, or opt for a two- or three-bedroomed condominium. Prices range from US$230,000 for a two-bedroomed apartment overlooking the golf course up to US$552,400 for a four-bedroomed villa with Atlantic Ocean views.

Andrew and Janet Dobson have bought a resale villa at the resort. "It was the ease of it all which finally persuaded us to buy," he says. "I've always had a thing for the island. I've been going to Tobago for the last 30 years, and while I'd always planned to build on a plot of land on the other side of the island, the hassle involved plus the lure of the facilities on this side of the island was a big factor."

Dobson has children who he says "would be unforgiving" had he opted for rural isolation, plus he sees other benefits: "This side of the island has a lovely breeze, which is wonderful as it's around 30 degrees throughout the year. Being English, I don't care for horrible little mozzies, who have never bitten me on my side of the island."

The villa's design was another important factor in the decision. "The previous owner had cleverly added to its enormous veranda, which has a lovely lookout onto the ocean. It has all the conveniences, such as cable TV and air-conditioning, that my children appreciate, but it's the bit outside that I most enjoy where we have sofas, a dining and coffee table. We live out there."

Dobson finds another great advantage. "It's not Barbados and has no posh restaurants, I never get out of my shorts, and it's so completely unspoilt and low-key." The family occasionally rent out their villa "to cover running costs" and although he believes the building of a marina would significantly add value, long-term pleasure rather than investment was his motivation. Distance is not a deterrent and Janet Dobson visited six times in the last year. "Because of the time difference it's not too bad," says Andrew Dobson. "My wife went to Turkey last year and the time difference there meant that the flight took all day. With Tobago the journey back is always at night, which helps."

Direct flights take around seven and a half hours and the resort is just 15 minutes' drive from the international airport at Crown Point. But buyers who don't mind travelling a little further may be tempted by another Caribbean island, St Lucia, where Premier Resorts is marketing a new development of what they call "buy to let and enjoy" apartments to UK buyers.

A secluded cove surrounded by rainforest-clad mountains is being transformed into "Discovery at Marigot Bay", an exclusive marina resort with buy-to-let properties for sale to investors, second-home buyers and yachting enthusiasts. The £13 million development, on the more sheltered west coast of Tobago, is just 15 minutes from the island's capital Castries, where the site of the former Hurricane Hole Hotel is being transformed into a new luxury apartment hotel.

Building work is set to start this summer, fulfilling a long-held dream for John Verity, the owner of the site who fell in love with Marigot Bay when he first sailed into the harbour in 1981 with his wife Verity. He vowed then to buy the colonial-style hotel and was on his way to carrying out his dream when he secured the site in July 2000.

Next year should see the completion of the development, which will ultimately contain a central hotel building and 111 self-contained units ranging from rooms with en suite bathrooms to a range of apartments. The 37 two-bedroom and 15 three-bedroom apartments have been designed by architects Denton Corker Marshall to blend in with the tropical hillside, and will be on offer to investors from £210,000 up to £300,000 for a three-bedroomed apartment. Owners will share net profits from lettings with the hotel, there are no additional charges for maintenance, management or security, and they also get six weeks' free personal use of the apartments annually. Verity describes the concept as "an investment opportunity with a lifestyle bonus".

Graham Grant believes that the two resorts will appeal to different sectors. "Tobago will suit those who are retiring or want to spend more time out there, while St Lucia is an investment opportunity with lifestyle benefits attached. In the UK the buy-to-let market is struggling, but out there you can expect 6 per cent returns – or 8 per cent if you factor in the additional six weeks of personal use."

Grant believes that reliably good weather more than compensates for the journey – "it's worth watching two films for" – and the many buyers who are now releasing equity from UK homes to buy second homes abroad seem to agree. "You can get mortgages of 3.5 per cent and then get a return of 6 per cent; it's a nice position to be in."

Premier Resorts, 020-8940 9406