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JMGM CEO, James Moses represented by Savills International proudly options a unique investment opportunity in Australia’s top holiday destination comprising of an IMB permit approved site for a 78 room luxury hotel and a further 35 private villas located on a sought-after shorefront lot on Canggu Beach, Bali, to a roster of globally-renowned hospitality brands.“Bali has long been a favourite holiday destination for Australians, but what’s missing is the luxury resorts of America and Europe. We want to set an unrivalled president for barefoot luxury here in Bali, offering Australians an elevated holiday destination closer to home,” says JMGM CEO, James Moses of the planned development.
Presented to the Australian property investment market by JMGM, developer of the $133 million dollar Horizon project in Gosford, the luxury development designed by European-based Lutolli Architects & Partners and preliminarily titled Tu Casa is an unrivalled beachfront resort, including a luxury 78-room hotel, 35 single and double-storied private villa’s, four individual restaurants with a total capacity for 400 seats, a beach club and after hours nightclub, indoor and outdoor pools, and a wellness retreat and day spa.
“We set out to acknowledge the spiritual ancestry of the land at Canggu, while bringing a contemporary, timeless approach to the design of the accommodation and shared spaces. Subtle accents in the design palette reference the natural surrounds, offset by striking individual white-coloured villa’s which draw similarities to world-renowned Grecian resorts,” says Lutolli Architects & Partners Principal, Blerim Lutolli.
The land certificate granted and IMB approved site, earlier scouted by exclusive members club Soho House, sits on the picturesque shoreline of Canggu Beach, one of the last waterfront properties available for development on the island, while tenders for the hotels day-to-day management operations have already been submitted by global operators Accor (The Mondrian, L.A.), Marriott International, IHG (The Kimpton Hotel Group) and Minor.
Post-pandemic interest has been strong with the projects broker agency Savills International receiving an overwhelming response to the opportunity’s first market introduction in early November.
“Some of Australia’s most active and well-known investors and developers are closely considering the opportunity, many from the Eastern seaboard, as the opportunity to secure a waterfront resort and day club is limited,” explains Savills Sate Director of Hotels, Nick Lower. “There is no other property of this size with a prime beachfront location available.” he continues.
Comparable’s on the island include Potato Head Groups luxury Katamama valued at $430,000.00 USD per key and the Tu Casa development boats 144 keys on the 1.1 hectare property, 50% freehold-owned and a 50% 50-year lease agreement in partnership with JMGM, who already oversee two privately-held holiday rental accommodations in Bali. An independent cashflow report conducted by Minors which examined two neighbouring hotel operators in the area forecast the freehold purchase and construction costs to be paid-off within three years of completion.
“With full planning approval signed-off by local government in Indonesia by January the fund raise is our last stage of the development. JMGM is excited to expand into the luxury hospitality industry.” ended Moses.
The Australian-Indonesian development is expected to break-ground in early 2022 with a projected completion date of late 2023. Investment opportunities and structures via Savills International close on November 22nd.