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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 US$390-$530 per square foot/(300-400 EUR/m2)
Costs for the construction and fitting-out of additional structures are estimated at US$145 per square foot (1200EUR per square meter)
Total PROJECTED expenses in the development of the project: 91,962,000 EUR/119,788,800 USD
Total PROJECTED income from sales of inventory: 172,322,000 EUR/ 224,464,914USD
PROJECTED profit: 80,360,000 EUR/104,676,000 USD
ISLAND TRANSPORT:
TWO AIRPORTS:
I. Princess Juliana International Airport (named after former Queen), is the 2nd busiest airport in the Eastern Caribbean, (after Luis MuG?á?ñoz Marin IntG?á?ñl Airport in San Juan, Puerto Rico), servicing 3 continents & majority of Caribbean Islands
II. LG?á?ñEsperance Grand Case, is the regional airport located in the French Quarter (although the management of the airport falls under the GuadeloupeG?á?ñs general council G?á?¥ Larger French Island farther south in Lesser Antilles G?á?¥ which financed the construction of a new terminal, 2004, & tower, 2005) Activity of airport assured: inter-island transfers, regular connections with Guadeloupe and St BartG?á?ñs 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 BartG?á?ñs (2004 G?á?¥ 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)
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Floors:
Beds:
Baths:
Year Built:
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Area: Sq. Feet
Lot Size: 39.5 Acres
Development:
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Current Weather for La Savane, St. Martin
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