Leading boutique beach hotel - Tangalle
Price - USD 4,200,000
Plot size - 5 ACRES
Development status - Operational boutique hotel - option to extend
REF - BKP 001
A rare opportunity to acquire a very well-performing hotel on prime beach-land that will most likely appreciate significantly in value in the short-medium term.
The property sits on an elevated 5 acres at the southern tip of Sri Lanka running directly to the ocean. Views north overlook the Rekawa Lagoon.
Strong revenues, scope to expand further, and a well-established operating team make this a uniquely attractive investment opportunity.
Buildings and facilities include:
16 large, stand-alone mid-luxury bedrooms (average floor area c76 sq. metres).
Ocean-facing poolside restaurant and fully licensed bar
33-metre infinity swimming pool and separate 12 metre pool
Amphitheatre, snooker room, sittings rooms, library
Spa with two treatment rooms and bathroom
LOCATION - REKAWA, TANGALLE
Rekawa sits in the centre of the island’s south coast, some 90km beyond the tourist hub of Galle.
Development has stretched along that coastline with hotels and rental villas now plentiful up to and even beyond Matara, to which point the Southern Highway now reaches.
Ongoing extension of that highway (planned to reach Hambantota in mid-2020) will improve access significantly - markedly cutting journey times from Colombo and Galle. Land values will likely increase sharply as a consequence.
This beach site - quieter than those further west and within easy reach of inland National Parks - offers an ever-more compelling tourist location.
FURTHER PROPERTY NOTES
As above, the property is in excellent operational condition and has scope to be developed further.
The immediate beachfront land is under-utilised; revised planning conditions suggest the possibility of development nearer the reservation line. Existing accommodation units cold be extended and the main public building (restaurant, library) is structurally sufficient to offer 3 large prime accommodation units over-looking the ocean.
With 16 units operating at good occupancy, though, the property functions well as a profitable boutique hotel.
Excellent reputation and very good B2B relationships significantly enhance the commercial value of the property.