Mar. 26, 2019

For Sale as Going Concern. TT$6.0 million o.n.o.

Continuously maintained and upgraded with swimming pool, restaurant and bar located in the Plymouth/Bethseda/Adventure region. Adjacent to Arnos Vale, Turtle Beach, Fort James, Courland Monument, Mystery Tomb, numerous mini-marts, churches, multi-purpose Recreation Grounds and excellent views. 10 mins from Scarborough and 20 mins from Crown Point.

Serious offers are invited for immediate purchase of this fantastic property. TT$6m o.n.o. will be accepted. Potential Annual Income of TT$3million. Can be easily converted from a 16 room to a 24 room hotel on existing site. Another 16 rooms can be built on adjacent lot if purchased. Great Investment opportunity! Immediate income upon purchase.  

The hotel is situated on 19,044 square feet of freehold land in the heart of Plymouth. The property is completely fenced with two separate main entrances, bounded by three main streets and contains a two story L-shaped building with 9,981 square feet covered area. There are sixteen en-suite guest rooms, a large recreation room converted to a two bedroom apartment, manager and staff quarters, restaurant kitchen, dining room and bar, laundry areas, secure carpark and swimming pool.

Room occupancy rate averaged 45% over the past 6 years. This is well above the Tobago guest house/hotel average of 35%. It is expected that the occupancy rate will rise above 75% in the coming years when 2 new fast ferries are added to the seabridge and the Toco ferry port is built. Additional airlift is expected this year with the arrival of Sunwing from Canada.  

Freehold property being sold as a going concern and un-encumbered by the Owners, Changrela Ltd. A 10% down payment on the agreed price is required at the time of signing a Purchase Agreement. The balance is payable within 90 days.

Contact, 1 868 639 2961, 1 868 238 0168, or whattsapp 1 868 678 1685  for further information and site visit. Bids will be received up to the time this post is closed.