Located just a mile south of the heart of Governor’s Harbour on mainland Eleuthera, Turtle Bay offers an extremely rare investment opportunity for an investor or group of investors to acquire a ready-to-build, income-producing multi-family project.
The 4.74-acre development has been subdivided into 16 residential lots ranging in size from 7,330 sq. ft. to 22,000 sq. ft. Permits have been issued for construction on each lot and surveyor plans have been prepared to identify lot boundaries. The project has received BIA (Bahamas Investment Authority) approval. Each lot is served by a dedicated underground water and power supply, avoiding unsightly overhead power lines, with phone and internet provided by ‘fibre to the property’ lines resulting in super-fast broadband. The property is conveniently accessed on the west side via Queen’s Highway and extends west to the Bayside. The shoreside has been graded and a covered cabana and decking area has been built, the communal platform is perfect for boat mooring, fishing, and water-based activities. A ladder allows direct water access for swimming and diving.
Two completed homes, Coral Point and Lucaya, are included in this offering and have been issued with the required certificates of occupancy. Situated on a 22,000 sq. ft. lot with 100 feet of ocean frontage, Coral Point is being offered fully furnished. The 1,993-sq. ft., open plan concept home features 3 en-suite bedrooms and a ground floor powder room for added convenience. Similar to Coral Point in design and size, Lucaya is situated on a 22,000-sq. ft. and is being offered unfurnished.
Standout features of these elegantly designed homes include impact windows and doors; 9-foot ceilings with crown molding and tray or paneled details; and, stone flooring in great rooms, kitchens, dining rooms, and ground-floor bedrooms. Both kitchens feature solid granite countertops and stainless-steel appliances; solid core cabinets featuring full-extension drawers, wall cabinets with concealed lighting; and, custom-designed shelving and display units. Both ground-floor master suites have sliding glass doors leading to expansive terraces that overlook private swimming pools, landscaped gardens, and the ocean beyond.
In the 10 months since it was completed (May 2019-March 2020), Coral Point has grossed over $77,000 in rental income, demonstrating the high demand for short-term vacation rentals in the increasingly popular Governors Harbour area. This low-density settlement offers fine and casual dining, shopping, and banks all within a short drive from Turtle Bay, as well as an abundance of natural, outdoor space for hiking, biking, and exploring.
Features and Details
- MLS ID: 42116
- Region - Country: Caribbean
- Island: Bahamas
- Locale: Eleuthera-Governor's Harbour
- Island Type: Ocean Island
- Listing: For Sale
- Bedrooms: 6
- Bathrooms: 7
- Lot Size: 4.742 Acres
- Price: 3,700,000
- Currency: USD
- Location: Beach Nearby, Oceanfront, Ocean view, Waterfront, Water view
- Agency Name:: Damianos Sotheby's International Realty
- Agent Name:: Christopher Ansell