Le Paradis Beach, Golf & Marina Resort is a 608 acre multi-phased five star master-planned luxury destination resort on St. Lucia which is un-finished. Le Paradis project envisaged development in four phases but was unfortunately stalled in 2008, went in receivership in 2009 and Phase 1 was 52% complete.
Le Paradis development is located in Praslin which is on the south-eastern sea board of the island, about 20 minutes away from Hewanorra International Airport.
Key Features of Le Paradis Resort
- Le Paradis elevations are from sea-level to 620-feet above sea-level. Every residence is guaranteed to have phenomenal vistas of the bay, marina or ocean.
- An 18-Hole Championship Masterpiece designed by the Legandary Greg Norman.
- The Award Winning, Upper-Upscale Starwood-Westin Hotel and Resorts would be the Hotel-Operator for the Ocean Point and Ocean Reef Collection.
- The Ocean Point and Ocean Reef Collection of Residences are Fully Furnished with Luxurious and Designer Furniture, Fixtures and Equipment.
- 608 lush and pristine acres of 5-Star luxury residences, amenities and services.
- Troon Golf managed signature course designed by Greg Norman. 18 Ocean View Holes on what is expect to be among the most photographed courses in golf.
- Le Paradis’ golf clubhouse site 275-feet above sea-level and boasts breathtaking views of the bay, the marina, the residences, ocean and horizon.
- A 42-berth Marina accommodating yachts up to 200-feet in length and a Luxury Marina Village will be part of Le Paradis’ second phase.
- Nature trails and eco-tourism activities on the property and the surrounding areas.
- Also in phase 2 (the “Sophisticated Phase”) will be a along with a 5-star Boutique Hotel, an Accredited Wellness Medical Spa & a Commercial center with upscale shopping boutique.
Le Paradis Hotel in St Lucia for Sale
Late 2008 the Bank experienced severe liquidity constraints and on January 31, 2009 the project went into receivership.
- Sale Price – USD$29M
- Current asset value is over USD$250M
- Substantial construction and grading occurred with records indicating over USD $85,000,000 in expenditures.
- 18 buildings in various stages of completion exist on the site. 15 of which are salvageable.
- Tax concessions granted by the Saint Lucia Government remain in force.
- The original resort was marketed on a condominium concept and that approval had been advertised as granted by the Government of Saint Lucia (GOSL) for several financial incentives including:-
a. Income tax and withholding tax exemption on rental income earned.
b. Alien landholding licence fee waiver.
c. Waiver of Income Tax.
d. Stamp duty exemption.
e. Vendor’s Tax exemption.
- Le Paradis is identified as a flagship development for the tourism industry of Saint Lucia.
- This project is viewed as an important catalyst for economic development of the surrounding communities.
- Queens chain lease is current.
- All utilities are either in the vicinity or adjacent. Final connections of the services will be required after project completion and inspection. A sewerage treatment plant will be required.
- All necessary approvals or waivers from the Development Control Authority, the architectural, engineering and golf course designers can be readily obtained.