 8 more images below... | Hotel, Resort Development For Sale in La Savane St. Martin Final Days For Investment Opportunity Asking Price: 36,050,000 € LAND, CONSTRUCTIBLE REAL ESTATE RIGHTS, & BUILDINGS IN AN "AS-IS" STATE EXISTING STRUCTURES:
- Approx. 39.5 square acres/160,000 square meters/1,721,000 square feet
- Approx. 600 meters/1968 feet of white sand beach
- 11 buildings fully constructed:
- 10 Caribbean Style Villas (40 apartments)
- 1 Large Central Building (18 rooms + 2 suites/20 apartments - with shops, restuarant, services and reception)
- 1 large swimming pool
DEVELOPMENT OPPORTUNITIES:
- Renew permit/license, dated 7th June, 2002, authorizing construction of an additional 4 buildings, within existing structures.(approx 3000m2/32,292sf)
- Renew permit/license, dated 26th November, 2002, authorizing construction of additional 40 villas on the seaward portion of the project site.(approx 21,699m2/233,566sf)
- Application to build an additional 43 villas on the inland portion of the project site,(55,000m2/592,000sf),was submitted on 10th Jan. 2006. approval pending
- Renew Mayor's authorization, dated 9th December, 2004, granting the set up of a beach restaurant.
The subject property is located in the Savane area of Saint Martin's Island. Approx. 5km/3 miles from the center of the French Quarter's capital MARIGOT; Approx. 2km/1.2 miles from the regional airport L'Esperance Grand Case, and less than 1km/1 mile from the town of Grand Case, the gastronomical reference of the island. Approx. 15km/9.3 miles from Philipsburg, the Dutch Capital of the island; and, approx. 12km/7 miles from Princess Julianna International Airport, also located on the Dutch Side of the island. COST ESTIMATES TO CONVERT PROJECT TO A REAL ESTATE OPERATION WITH OWNERSHIP SALE BY LOTS: Predominant work on existing structures will involve the installation of kitchens, plumbing and electrical. These works are budgeted for an approx. price of 300-400 EUR/m2 Costs for the construction and fitting-out of additional structures are estimated at 1200EUR per square meter
- Total PROJECTED expenses in the development of the project: 91,962,000 EUR
- Total PROJECTED income from sales of inventory: 172,322,000 EUR
- PROJECTED profit: 80,360,000 EUR
ISLAND TRANSPORT: TWO AIRPORTS: I. Princess Juliana International Airport (named after former Queen), is the 2nd busiest airport in the Eastern Caribbean, (after Luis Mu’oz Marin Int’l Airport in San Juan, Puerto Rico), servicing 3 continents & majority of Caribbean Islands II. L’Esperance Grand Case, is the regional airport located in the French Quarter (although the management of the airport falls under the Guadeloupe’s general council – Larger French Island farther south in Lesser Antilles – which financed the construction of a new terminal, 2004, & tower, 2005) Activity of airport assured: inter-island transfers, regular connections with Guadeloupe and St Bart’s by private flights, commercial national, & internal upon request. (annual traffic rises to 200,000 passengers yearly) TWO PORTS: I. The Marigot Port, managed by city, exclusively handles traffic of passengers; with regular connections to Anguilla & Saint Bart’s (2004 – rose to 300,000 persons) II. The commercial port Galisbay, in Marigot, substantial increase in traffic (50,000 tonnes 1995 to 300,000 tonnes 2000)
 | | About This Property |  | | Category: | | Resorts | | Address: | | Happy Bay La Savane La Savane 97150 St. Martin | | For Sale By: | | Agent | | Construction Year: | | n/a | | Area: | | 160,000 m2 | | | Bedrooms: | | n/a | | Bathrooms: | | n/a | | Sleeps: | | n/a | | Stories: | | n/a | | Parking Spaces: | | n/a | |  | | Features - Amenities |  |
 | | Pictures (click to view a larger image) |  |  | | Contact - More Information |  | | | Peter Marlowe - Prudential Douglas Elliman | | | | Phones: | | 212-233-0017 (Office) 917-838-7942 (Cell)
| | Fax: | | 917-369-1474
| | Site: | | www.elliman.com | |
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