Resort in Atlantida, Canelones, Uruguay

Mixed Residential & Hotel Resort Development

Directors’ ill health forces quick sale of Uruguay’s largest development with a discount on recent valuation of 70%.
As sales go this has to be the biggest discount off the sale price for a luxury property development… ever.
This development project has planning consent for 341 individual 240 m2 luxury villas each with private pool and a landscaped, spacious 2000m2 plots. The land has been re classified as URBAN. The development also includes a 10,000m2 hotel in 120,000m2 of grounds including boating lakes and swimming pools. Within the hotel complex will be a Thalasa Spa.
Adjacent to the luxury hotel will be a commercial & retail centre of 8000m2 which will provide a perfect location for additional dining experiences for residents and hotel clients. There will also be shops to provide retail therapy and an opportunity for high end office rental opportunity for the professional service sector.
The resort will have a strong sports theme to encourage high occupancy rates all year round. All the villas surround an 18 hole golf course which will have its own 2000m2 club house with a driving range. There will also be a 100 stable equestrian centre, 10 km training/racing track (for humans and horses), a sports centre with full size football and polo pitches. It will be the largest resort development in Uruguay. It has huge support locally and at government level.
The project is perfectly situated geographically. Just 5km from the Coastal town of Atlántida on the Gold Coast of Uruguay and only 30 minutes drive to the capital city of Montevideo. Motorway access to Montevideo and Punta del Este is only 2.5km away. The international airport of Carrasco is within 30 minutes drive and the Argentine capital of Buenos Aires is a 1 hour flight. The plot is a relatively flat plot of 2.36 million square metres. It has its own water sources and is on a sand base aiding low construction costs.
Initial cash flows and profit forecasts show profits (EBITDA) in excess of $133m over a 7 year roll out. (This scenario excludes values for Golf Club & course, sports centre, equestrian centre and using very conservative values for hotel and retail village). The project will auto finance after a $20m initial investment (first 2 years) into infrastructure and first phase. Break even on initial investment is calculated at approx 3 year stage.
The project was valued by a leading Uruguayan company at $29m. Reduced down to $12m and now we are instructed to accept offers in the region of $9m. This is an amazing opportunity for a quality development project in South America for sale.
Arcrei are the sole European agents for the Green Valley Golf Resort.
For more details visit or contact Nick Westby on 00 34 666 938 956.