Water Island Project Brief

On approximately two thirds of the site it is proposed that the existing hotel be renovated and up to a further 26 units be constructed along with a Swimming Pool, Tiki Bar/ BBQ, and General Store. On the remaining southern one third portion of the site there is the potential to construct 2-4 high end villas, or a further 8-10 rental units.

BBK is offering land acquisition and development of 3.8 acres of land with a semi derelict 12-bedroom single-story hotel, located on Water Island, within the Territory of the United States Virgin Islands (U.S.V.I.).

Location

Located on the southern portion of Water Island in the United States Virgin Islands, BBK’s property is adjacent to the marina basin in Flamingo Bay. Panoramic views are exceptional; to the North there are 200 degree views, to the West there are views of Puerto Rico, Culebra and Vieques, to the East there are views of St Thomas and St. John beyond.

Tenure

Freehold – with vacant possession.  Architectural designs/plans may be included with purchase.

The property is jointly owned between two parties. There is no mortgage held on the property. All documentation is satisfactorily drawn and there are no unusual, or onerous restrictions, easements, covenants or other outgoings which would adversely affect the value of the relevant interests.  All information regarding tenure will be openly available to any interested parties.

Eco-friendly developments are in vogue, and important to the present owners. This project will work towards being an eco-friendly, sustainable development, and at the same time attempt to be as self-sufficient as possible.

The attached scheme does not include the development of almost an acre of land to the south of the main site.  This area can be included in the development in order to construct a further 8+ rental units.  Alternatively this area can be subdivided into 2-4 housing lots. With spectacular views to the East, these are very saleable lots likely to generate prices in the region of 2x $210,000.  If preferred these villas could be constructed, and sold from plans, or sold once
completed. Alternatively, the existing owners would be willing to sell the property minus this almost one acre.

Transport

Water Island is located ½ mile south of St Thomas, in Charlotte Amalie Bay and, access is easy via ferry (regular 10 minute service from Phillips Landing on the island). Saint Thomas’ International airport operates direct flights to mainland U.S. and many of the other Caribbean islands (allowing easy access to Europe), including the British Virgin Islands, St Maarten, Puerto Rico, and the Dominican Republic.  Saint Thomas also has two ferry ports with services to the British Virgin Islands, Puerto Rico, and many of the other surrounding smaller islands.

Currently most transport on the island consists of Golf Carts!