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Investment opportunity
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Bridging Loan for Hotel Resort & Spa
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We have an amazing project in the Island of Anguilla are seeking a Bridging loan from Property Investors or Angel Investors.
Our Resort & Spa is to be built on the grounds of a former Beach Club and its adjacent property. The former Beach Club began operations in September 2000. The hotel is small and exclusive with five available rooms and a beachfront open-air restaurant. During this period the hotel has been very successful and has maintained in excess of 80% occupancy during the high season of November through April. This level of occupancy compares very favourably with the other mid cost luxury hotels on Anguilla. Unfortunately, there have been times during the high season when lack of available rooms has caused the hotel to turn away potential guests.
We intend to develop the 5-Star resort on 9.82 acres of land - Starting with the required infrastructure for the project. The project will then proceed with the condo blocks, villas, clubhouse, beach bar / restaurant and back of house.
The completed project will consist of a total of 55 condominium units and 12 villas.
The condominiums and villas will be built to sell at a price, which is currently considered the optimum price for resale in Anguilla and, because of the coastline location, will not only attract a higher number of buyers - but also justify a premium purchase price. However, due to the continued increase in land and property prices in Anguilla, the value being put on the sale price of the finished product is a minimum price and may be increase according to prevailing market conditions.
We require a construction loan with 30-month interest only capitalized payments. Upon completion of construction, the construction loan will be satisfied.
The project cost will consist of Condo Building Construction, Villa Construction, Pools, Decks, Landscaping, Furnishings, Land Clearance, Utility Upgrades, Reverse Osmosis Plant, Sewage/Grey Water System, Land Improvements, Other Infrastructure, Architectural Drawings, Project Consultant, Financing Fees and Interest During Construction (36 months).
The Total Project Cost including a 5% Construction Contingency is estimated at $99 million. The financing required is $57 million, which will cover construction and retire the existing debt on the property at May 31, 2011 of $5,530,000. Our Development Corporation is requesting approval for the $57 million for construction costs. The balance of the project will be financed with proceeds from the sale of condo units and villas. |
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| Total Funding Required: |
£4,000,000.00 |
| Min. per Investor: |
£1,000,000.00 |
| Industry: |
Construction |
| Sec. Industry: |
Property |
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| Region: |
Outside UK |
| Proposal ID: |
2714 |
| Investment Reason: |
Property |
| Proposal Status: |
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Angel Investors Raising Business Finance Small Business Grants Business Funding Venture Capital
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