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INVESTMENT OPPORTUNITY
COMFORT SUITES HOTEL AND
PORTS OF CALL SHOPPING VILLAGE
PROVIDENCIALES, TURKS & CAICOS ISLANDS
CB Richard Ellis Latin America and the Caribbean have been retained as the exclusive representatives in the sale the Comfort Suites Hotel and the Ports of Call Shopping Village located in the world famous Grace Bay Tourist/Resort area on Providenciales, Turks and Caicos Islands.
These two properties are offered for sale as a single package, and are not available separately. The two properties are each owned by Turks & Caicos corporations, and either the shares or the assets of both corporations may be purchased at the buyer’s option.
The package comprises 4.45 acres (including approximately 1 acre of vacant land contiguous to the shopping village) located in the heart of Provo’s famous Grace Bay Beach. On this property are the Comfort Suites Hotel, a 100-room facility with virtually no competition in its market segment, and Ports of Call Shopping Village, a fully leased commercial shopping centre with some 18,000 square feet of leasable space.
Building permits have been issued for a hotel addition of some 22 rooms plus meeting space (based on a newly constructed building of 3 floors which can, under current regulations be expanded to 5 floors), and an expansion of the shopping village that will provide an additional 20,000 square feet of leasable space (dependant on plans, this addition can be increased). Complete plans and construction drawings for both additions are included in the package.
There have been recent renovations and upgrades to both the hotel and shopping village at a cost of over $750,000 the final phase of which were completed in August 2008.
This offering represents a timely opportunity to acquire a unique asset with tremendous upside potential in one of the emerging resort and leisure destinations in the Caribbean.
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