St Martin Private Island With 27 Acres Of Prime Beachfront Hotel Development Land For Sale

$40,000,000

Property ID: S609
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    St Martin Private Island With 27 Acres Of Beachfront Land For Sale

    This spectacular oceanfront property is located on a secluded, private peninsula in the French West Indies, on the French-side of the Caribbean Island of Saint Martin, within the island’s most exclusive residential enclave of Les Terre Basses.

    The property was selected in the early 1980’s as the location of the former La Belle Creole, a 5-Star Conrad Hilton International Hotel. This highly acclaimed resort was the pride of the island, and featured 162 keys in 22 separate buildings, with a total of 190,000 square feet. La Belle Creole closed following Hurricane Luis in 1995 and never reopened. Nestled in a stunning Baie Nettle cove, with fabulous views of the capital city of Marigot, the site is widely acknowledged to be Saint Martin’s premier resort development land.

    Residual buildings, now in a state of disrepair, will be demolished by the new resort’s developer. Architectural elements, poured in place concrete walls covered with a native stone facade and stone walkways, may be repurposed. The local French Government is supportive, understands the importance of tourism to island commerce, and will facilitate a new development.

    The following Property Overview and Development Highlights provide a focused snapshot of the features and characteristics of the site. This offering consists of 26.7-Acres of fee-simple “as-is” land and represents a ground-up development opportunity.

    • 108,225 M2 (26.7-Acres)
    • Ocean frontage: 579 M (1,889 linear feet) with three distinct white-sand beaches.
    • Condition: Property to be delivered as-is. The peninsula building site is protected on three sides by the sea and non-developable land zoned N2.
    • Price Guidance: $40,000,000
    • Zoning: U-6: Resort Hotel
    • Approval timeline: The government’s concept approval application process is guaranteed not to exceed 60 days. A development site plan and project description are necessary for concept approval; working drawings are required for the building permit.
    • Offshore Island development permitted: Owned by the French Government. Previously the local government has voiced their intent to consider the approval of “day use and non-permanent construction” on the island.
    • Lagoons: Local Government will permit repairs to seawall, cleaning the lagoons, and rebuilding the causeway connecting the offshore island to the hotel property.
    • Casino: Subject to the operator’s application and review, the Government has expressed their support for a Gaming License and Casino at this location. Currently 12 Casinos on the Dutch Side; Zero on the French Side.
    • Incentives: Substantial French Government financial incentives for the development of hospitality projects in the French Overseas Territories are available. Including a 30% rebate of construction and land costs to the property owner upon completion of a hotel project without residences for sale.
    • Tax Holiday: No income tax until developer’s investment costs have been recouped.
    • Property Tax: No property tax during construction and the first 5 years of operation.

    What can be developed?

    On-island Land Use Consultants and Architects maintain that because of the “special nature” of this redevelopment property (considered to be the island’s absolute best location for a new hospitality project), St. Martin’s Building Regulations may be amended to exceed current standards. Previously (as an example), on November 18, 2019, the local government approved 52,884 M2 (569,239 Sq. Ft.) new construction on the footprint of the old hotel, plus recreational areas on other areas of the property.

    Property Features

    • Beach View
    • Lagoon Views
    • Mountain views
    • Sea view
    • Waterfront view

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    St Maarten

    • 0% Property Tax.
    • 0% Capital Gains Tax.
    • 4% Property Transfer Tax and 1.5% Notary fees.
    • 2 months Security Deposit for rentals.
    • As a buyer or tenant our service to you is complimentary!
    • We are available 24/7 and we speak 9 languages.

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    Transfer Tax

    4%

    Property Tax

    0%

    Capital Gains Tax

    0%

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    Ritika Asrani

    Owner / Head Broker

    +17215261819 ritika@c21sxm.com

    Ritika Asrani will call you as soon as possible

    No obligation phone call. Think of me as a friend in paradise!





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