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 development 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 bedroom 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.
- Land size
- 4.08 acres