North Caicos ROYAL REEFS RESORT - INVESTMENT AND OWNERSHIP
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The Context
The global economic climate hit the Royal Reefs Resort project last year, leaving this development unfinished. The owners have now the opportunity to sell the project "as is" and are determined to ensure that the project continues. The project is now released onto the open market for sale.
These photos were taken 2008.
The global economic climate hit the Royal Reefs Resort project last year, leaving this development unfinished. The owners have now the opportunity to sell the project "as is" and are determined to ensure that the project continues. The project is now released onto the open market for sale.
These photos were taken 2008.
The Plot
Click on this picture to enlarge_
Click on this picture to enlarge_
The Maths
Sale Price $37.000.000 - "as is"
Build out estimate $90.000.000
Income from hotel unit sales $165.000.000
Sales to date.$32.000.000
Collected income from sale, $16.000.000 invested into project.
Estimated Value of Hotel to new owner after creditors $50.000.000 and when completed.
Sale Price $37.000.000 - "as is"
Build out estimate $90.000.000
Income from hotel unit sales $165.000.000
Sales to date.$32.000.000
Collected income from sale, $16.000.000 invested into project.
Estimated Value of Hotel to new owner after creditors $50.000.000 and when completed.
The Opportunity
Interested and qualified parties are invited to contact Rowland Hull, Anchor Realty to connect with the owners for more details and further discussion.
Interested and qualified parties are invited to contact Rowland Hull, Anchor Realty to connect with the owners for more details and further discussion.
Air Travel Times
Atlanta (ATL) 2:45 Citation V Ultra
Boston (BOS) 3:25 Citation XLS/Excel
Charlotte (CLT)2:40 Citation V Ultra
Dallas (DFW) 3:45 Citation XLS/Excel
Ft. Lauderdale (FLL) 1:30 Citation V Ultra
Houston (IAH) 3:30 Citation XLS/Excel
Los Angeles (LAX) 6:15 Citation Sovereign
London (EGLL) 8:50 Gulfstream V
Miami (MIA)1:30 Citation V Ultra
New York (TEB) 3:10 Citation Excel
Philadelphia (PHL) 3:10 Citation V Ultra
Toronto (CYYZ) 3:40 Citation XLS/Excel
Atlanta (ATL) 2:45 Citation V Ultra
Boston (BOS) 3:25 Citation XLS/Excel
Charlotte (CLT)2:40 Citation V Ultra
Dallas (DFW) 3:45 Citation XLS/Excel
Ft. Lauderdale (FLL) 1:30 Citation V Ultra
Houston (IAH) 3:30 Citation XLS/Excel
Los Angeles (LAX) 6:15 Citation Sovereign
London (EGLL) 8:50 Gulfstream V
Miami (MIA)1:30 Citation V Ultra
New York (TEB) 3:10 Citation Excel
Philadelphia (PHL) 3:10 Citation V Ultra
Toronto (CYYZ) 3:40 Citation XLS/Excel
CONDO AND SUITE OWNERSHIP
Investors that purchase a condominium or suite at the Royal Reef Resort receive title to the real property outright. They are free to resell the property at any time either privately or with the assistance of a real estate agent.
Investors may choose to live in the unit full time, a few weeks a year or simply put the unit in the RRR rental pool to earn an income. Purchasers have access to all resort facilities as well as housekeeping and maid services.
STRATA CORPORATION FEES
Strata (or condo) fees wil be based on the suites proportion of the total area of buildings constructed. These fees are estimated using data from other similar resorts and are not guaranteed. These fees are calculated on the estimated future costs of maintaining common area and include items such as: Landscaping, pool maintenance, building repairs and maintenence, reserve fund etc.
Insurance (hurricane and flood) is additional.
RENTAL PROGRAM
The Royal Reef Resort will be operated as a luxury all-suite hotel with all the amenities prescribed to a five star resort. Owners can use their suite at any time and enjoy all the facilities available. Those owners that choose to include their unit in the rental and maintenance program can earn income while they are not using their suite.
Investors that purchase a condominium or suite at the Royal Reef Resort receive title to the real property outright. They are free to resell the property at any time either privately or with the assistance of a real estate agent.
Investors may choose to live in the unit full time, a few weeks a year or simply put the unit in the RRR rental pool to earn an income. Purchasers have access to all resort facilities as well as housekeeping and maid services.
STRATA CORPORATION FEES
Strata (or condo) fees wil be based on the suites proportion of the total area of buildings constructed. These fees are estimated using data from other similar resorts and are not guaranteed. These fees are calculated on the estimated future costs of maintaining common area and include items such as: Landscaping, pool maintenance, building repairs and maintenence, reserve fund etc.
Insurance (hurricane and flood) is additional.
RENTAL PROGRAM
The Royal Reef Resort will be operated as a luxury all-suite hotel with all the amenities prescribed to a five star resort. Owners can use their suite at any time and enjoy all the facilities available. Those owners that choose to include their unit in the rental and maintenance program can earn income while they are not using their suite.
Reproduced from the original marketing material.
Jan and Rowland Hull Anchor Realty Ltd,
Anchor House, Grace Bay,
Providenciales, Turks & Caicos Islands,
British West Indies (649) 242 1714
Anchor House, Grace Bay,
Providenciales, Turks & Caicos Islands,
British West Indies (649) 242 1714
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