Old T-Water for Sale.. Empty your piggy banks!!!

[originallovebirds]

My husband and I were sitting at home tonight having dinner with Big Roy who owns Cafe GOA and got to talking about the old T-Water hotel. Its for sale!!! Only $3.5 million US. We went to the T-Water for years and have such great memories of the hotel. When we are in Negril we still go wander around the abandoned property. Surprisingly the gift shop is always closed, but the locals still have the bar opened. Here is a link to the listing of this beautiful property on Century 21, so empty out your piggy banks.
Happy Day

http://www.century21jm.com/nmcms.php...11&mls_id=2232

[poolguywindsor]

Although it is 3 acres as usual the price for land or business in Negril are no deals, I guess its all relative as to how much money you have.

[Tom Hudson]

$2.5M more realistic, based on condition of existing structures, substantially all of which need to be torn down and replaced.

With a $2.5M US purchase price, the demolition and construction costs + operating costs, you have to have 60%+ occupancy year-round at $100US/night just to service the debt and break even (with 50 rooms) . You need more occupancy to create positive cash flow.

60% occupancy ain't easy year round

Yes, I've done a full fledged financial projection on this (and other) Negril property.

[poolguywindsor]

Good work Tom, I am only at the point of looking whats there and doing a quick calculation in my head, so far have not seen any thing worth the time and hard work.

[Miss Anna]

Xtabi also for sale for 2.6 millions, looks more realistic to me.

[ohliz]

Hopefully someone buys it, it's been an eyesore, and security issue, for too long IMO.

[northcoast]

Was just watching an episode of House Hunters Int'l. yesterday & someone in Nicararagua wanted to purchase an old colonial house in the capital city....the asking price was $270,000US. They came in to the real estate office with a big stack of money....$205,000US and put it down on the table. The agent called the sellor....money was accepted & deal DONE!!.....don't know if that would work in Ja. or not (we're talking so much more $$), but I guess it's worth a try if you have the money & want the place.

[Marko]

They came in to the real estate office with a big stack of money....$205,000US and put it down on the table. The agent called the sellor....money was accepted & deal DONE.

that was made for TV.......
just the risk of carrying that much cash would be utter madness in a third world country
never mind the logistics and pain the ass carrying that much cash.......
a Cashiers Check works just as well as cash without any risks.........

personally I would love to see that eyesore taking care of........
it's just a really a horrible way to leave an old icon that gave us travelers so much pleasure....
really disgusting mon......

Cool Runnings, Marko

[Marblehead]

You'd have to be stupid rich to throw that much money at it. Very sad to see so much prime real estate squandered like that. Especially for those of us who were introduced to Negril by staying there ('84 & '86).

[originallovebirds]

Hi,
The Century 21 website no longer shows the T-water for sale. Does anyone know if it sold or just taken off the market?
Thx