Hotel, Resort Development for Sale in La Savane, St. Martin
Final Days for Investment Opportunity
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
Sold by
Agent
Address
Happy Bay
La Savane
La Savane
97150
St. Martin
La Savane
La Savane
97150
St. Martin
Area
160,000 m2
Features - Amenities
- Pool
- Ocean View
- Ocean Waterfront