Clearly impacted by the economic downturn, the build of the property is behind what was the schedule, but it is not financed, so it can complete. The issue now is to begin selling the units.
The ocean side building has a lower level unit and three floors of 1 bedroom units along with an upper level 2 br penthouse. The 1 br units are constructed so as to be lockout capable. A buyer then would be advantaged to own both units on the other three floors. In total there are then 8 units in each of two buildings and 6 units in a three story building.
The finish touches and details to the current state of construction indicate clear quality.
The exterior view
The Penthouse Layout
The View over Shoal Bay
So what is the business Proposition? Well, without giving up my conversation with the owner, he has been very realistic about his approach to this property. I also feel that he is a straight shooter letting me know the facts without the fluff.
The most difficult thing for the owner would be for one person to want one unit. That just does not make sense, but in these times, that might be all there is. The benefit is where are the 6 or 8 people willing to take a whole building or where is the one person willing to take a whole building?
The best proposition right now is to find 8 people willing to take the ocean side building in whole as it lays for a price and for those people to want to have a place on Anguilla. With that proposition, the value is right. The released capital to the owner would allow him to finish(under agreement to do so) the other buildings with the cash provided while the "investor" group finished the other building. Ultimately he will make margin on the other two buildings while offering the first group a deal closer to "costs". This is what the present market will bear.
The One Bedrooms with Lockout
Pool Level Two Bedroom Two Bath Best Value for Living
And the Bedroom
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