- bedroom(s) + bathroom(s)
- floor space + land size
This 96 unit pool villas complex is located in Ungasan, on the southern tip of Bali, Indonesia, overlooking the Indian Ocean. The 8 hectare site is set back from the cliff on a hillside, 52 of the units (54%) have stunning ocean views. The complex has been designed to be a luxury villa resort complex, and is complete with spacious lobby, 2 restaurants, Spa, and large common pools.
The complex is 92% complete, with all exterior structures finished. The work remaining is interior finish and furniture on 65% of the units. The complex is already operating and accepting guests in 32 units.
The seller/developer is seeking a complete buyout at a price of $43,000,000 As Is, or $48,000,000 and the developer will complete the project. If bought as is the buyer should anticipate finishing costs of $5 Million to $8 Million. The other expense to be factored in is the cost of advertising and marketing at an estimated $600,000 to $1,000,000.
The property was appraised at $70,000,000 USD in 2009 and property values in the area have increased significantly. Land value on ocean view properties has increased by 35% to 45% over the last 30 months.
Utilizing the Buy/Sell/Leaseback model, the property could potentially be sold off as individual villas for between $80,000,000 to $105,000,000 USD. We anticipate that sales will average in the middle range at $90,000,000. This anticipates sales prices that are below that of other resort villas in the area in developments by Banyan Tree, Bulgari, Kandara, Anantara and Karma Kandara calculated on price per square meter.