Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama...

9
TOM MCMANUS 2017 Grand Bahama Island Investment Opportunity

Transcript of Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama...

Page 1: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development

T O M M C M A N U S 2 0 1 7

Grand Bahama Island Investment Opportunity

Page 2: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development

Overview

Lying just 75 miles off the coast of Florida, Grand Bahama Island offers carefree living with a small community feel. Easily fly into Freeport from numerous locations in the United States and Europe to encounter pristine white sand beaches offering an array of water activities including sportfishing, sailing, snorkeling and scuba-diving in crystal clear turquoise waters. With more than 300 sunny days each year and an average annual temperature of 75 degrees, nearly every day is perfect for taking advantage of all there is to see and do. Additionally, freedom from most types of taxes – property, income, capital gains, inheritance and corporate – makes this locale even more enticing.

Considerable resources have been devoted to land planning along with the creation of a unique master plan regarding this particular investment opportunity. There has been a significant investment made in infrastructure, which allows for immediate development on several key sites.

As you will see in the following analysis, opinion of values along with existing improvements are approximatively $40,000,000 (USD) in total valuation. This includes more than 200 boat slips at the Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development for an additional 277 dwelling units.

Development opportunities consist of luxury townhomes, single-family residences, multi-family housing, commercial development, and expanding the marinas.

Page 3: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development

Valuation

Asset Acres Total SFCOMPS. ($5 - $9

PSF)

Opinion of Value Improvements Total Value Zoning Approved

DevelopmentTotal Units Available

Grand Bahama Yacht Club

9.68 421,660.8 $9.00 $3,794,947.20 $13,000.00 $16,794,947.20 Marina Marina 123 104

Port Lucaya Marina 10.6 461,736.0 $9.00 - $5,000,000.00 $5,000,000.00 Marina Marina 110 -

Site A (GBYC Marina Village)

6.11 266,151.6 $9.00 $2,395,364.40 $2,500,000.00 $4,895,364.40 Tourist Commercial Townhomes 65 50

Site B 2.16 94,089.6 $6.00 $564,537.60 - $564,537.60 Tourist Commercial Townhomes 96 96

Site C 3.13 136,342.8 $6.00 $818,056.80 - $818,056.80 Multi-family High Rise Townhomes 48 48

Site D 5.50 239,580.0 $8.00 $1,916,640.00 - $1,916,640.00 Multi-family High Rise Single Family 8 8

Site E 5.28 229,996.8 $8.00 $1,839,974.40 - $1,839,974.40 TC/MFHR Condominium 30 30

Flying Fish Restaurant

0.44 19,166.4 $9.00 $172,497.60 $850,000.00 $1,022,497.60 Tourist Commercial Restaurant/ Commercial

- -

Tract J 6.19 269,636.4 $8.00 $2,157,091.20 - $2,157,091.20 Tourist Commercial Multi-family 45 45

Beach Club 7.62 331,927.2 $8.00 $2,655,417.60 - $2,655,417.60 Community Beach None - -

Bank Site 1.89 82,328.4 $7.00 $576,298.80 - $576,298.80 Multi-family Commercial - -

Medical Center 5.87 255,697.2 $5.00 $1,278,486.00 - $1,278,486.00 Retail/ Commercial Commercial - -

64.5 2,808,313.20 $18,169,311.60 $21,350,000.00 $39,519,311.60 292 277

Page 4: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development

Development Sites

Page 5: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development

Grand Bahama Yacht Club

Slips Owned

306

426

427

431

508

510

514

523

524

532

601

602

607

608

701

702

703

704

705

Total slips in GBYC Marina → 123 Sold → 19

Available → 104

Page 6: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development

GBYC Dock Sheet

Slips Sold -- 19 out of 123 slips

A-Dock B-Dock C-Dock D-Dock E-Dock G-Dock

LEFT RIGHT LEFT RIGHT LEFT RIGHT

201 303 304 403 408 505 502 601 701

202 305 306 405 410 507 504 602 702

203 307 308 407 412 509 506 603 703

204 309 310 409 414 511 508 604 704

205 311 312 411 416 513 510 605 705

206 313 314 413 418 515 512 606

315 316 415 420 517 514 607

317 318 417 422 519 516 608

319 320 419 424 521 518

321 322 421 426 532 520

323 324 423 428 531 522

325 326 425 430 524

327 328 427 432 523

329 330 429 438 525

331 332 431 439 526

333 334 433 440 527

335 336 434 441 528

337 338 435 442 529

436 530

437

Tier A -- 3 out of 6 M/Y slips

(boats up to 110 ft.)

Tier B -- 17 out of 19 slips

(boats up to 80 ft.)

Tier C -- 22 out of 25 slips

(boats up to 60 ft.)

Tier D – 62 out of 73 slips

(boats up to 45 ft.)

Page 7: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development

GBYC Projected Dockage Revenue

Grand Bahama Yacht Club is comprised of 123 slips of which 19 have been sold under a 99 year lease purchase, leaving an inventory of the 104 slips.

Our analysis is based on the 104 remaining slips totaling approximately 5,800 LF.

The following represents conservative assumptions on occupancy and pricing. Our dockage pricing is $1.00 to $1.50. Our analysis shows 80%, 60%,

and 50% occupancies.

Page 8: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development
Page 9: Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development