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.