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Viviun -> AD-72048 :  Final Days For Investment Opportunity - Hotel, Resort Development For Sale in La Savane St. Martin
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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

  • Pool
  
  • Ocean View
  
  • Ocean Waterfront

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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