15 Bed Commercial for sale
Cap Estate, St Lucia
£5,197,090 *
[$6,500,000]
Full Description
DEVELOPMENT POTENTIAL. DO YOU HAVE THE VISION?
Excellent Tourist based development set into the hillside overlooking Pigeon Island and the Caribbean Sea. Peaceful location but only a short, easy drive to all Restaurants, Beaches and Nightlife.
This develpment is only partly constructed but has full DCA approval to complete the project .
Total land area is 4.8 acres (i.e. $212,000 square feet) of land ( normal price of residential land in this location is $10 usd a square foot)
Fully constructed seven unit block, comprised of two X one bedroom and two X two bedroom condos and 3 X two bedroom townhouses with plunge pools.
There is development control approval for two additional seven unit blocks with a communal pool. These are not yet constructed but will make use of the 2.5 acres not yet developed .
In addition there are 2 X Three bedroom Villas to be completed.
One Villa is approximately 75% complete and one is 40% completed. Both need kitchen and bathroom fittings installing.
Rental on a nightly basis as tourism vacation rental .
One bedroom condo $100usd to $195 usd a night
Two bedrrom condo $150 usd to $250 usd per night
Three bedroom condo $195 to $295 usd per night
Villa rentals $295 to $395 usd per night.
Projected annual income when the full development is completed, based on 60% occupancy $1,750,000usd.
Asking price $5,800,000 usd .
Estimations from local builders can be obtained for completion of the full project .
Read more
