Hotel For Sale in Soufriere St Lucia with Owner Financing Available – It’s A FIXER-UPPER!
All numbers included are estimates and extensive due diligence is required by any person interested in this unique opportunity.
AS IS Price: $2,600,000
Remodeled Price $3,300,000
Generous owner financing with $700,000 down
Sitting atop a hill in Soufriere Saint Lucia, this charming resort enjoys world class views of the Pitons, a UNESCO World Heritage site.
The St. Lucia project is a niche, boutique resort meant to take advantage of the world class views and fill a void to offer a high end experience at more affordable pricing. The focus is to incorporate the views of the bay, Caribbean Sea, and World Heritage Site Pitons and special character of the property to give a true St. Lucian feel. The heavy vegetation and open space between villas lends itself to an environmentally centered hotel with ties to local foods and culture. Like St. Lucia, the resort incorporates steep hills, ocean, beach, rock formations in a dense forest environment.
The developer’s own passion for travel and love of experiencing new cultures mold the plan for the property. Although all Americans, the owners and partners have lived more than 13 years outside of the US and have traveled to almost 100 countries. They have done projects in the Caribbean and understand how to integrate the local “feel” into a resort to even the guests that want to isolate themselves from the country they are in. The goal is to not only economically benefit St. Lucia, but have guests develop closer ties to the country and people to build non-tangible benefits as well.
Construction and its Economic Benefits
Due to so many unknown factors and costs, the estimate of construction expenditures is broad. The chart below shows estimated costs of US$699,000 for construction and preopening preparation, but it could be off by US$100,000 or even more either way.
Significant parts of the hotel are salvageable at relatively low cost and hold significant value. Because of the owner’s aim to recycle, save, and reuse, we estimate labor to have a significant percent of total costs than if this were new construction. We place the labor at approximately 50% of expenditures. This would be an estimated US$374,000 of cash injected into the local economy. At a blended rate between skilled and less skilled labor of XCD 32/hour, we estimate this as 31,556 man hours of labor.
Duty free concessions are available through application to Invest St Lucia