Summary
Very rarely do properties of this 5 star calibre come on to the market in the Cook Islands and because borders are now open between Rarotonga/New Zealand, timing is perfect to buy. Owners retiring.
Location Details
RAROTONGA - COOK ISLANDS. Beautiful tropical island paradise, and these absolute beachfront villas make the very most of this idyllic location on the edge of the very famous Muri lagoon which has a Shops, Night Markets and Restaurants all close by
Potential
These 5 villas are currently running as part of the larger property RUMOURS LUXURY VILLAS & SPA however there is the opportinity to purchase the whole property including 2 more villas, (also beachfront) managers flat, kitchen, office, laundry. Total price for both is NZ$9.5,00.000. These 5 villas are around 120 square metres each in size, 3 absolute beachfront and the other 2 beachside but only a few steps on to the white sandy beach and marketed for NZ$7,000.000 but in conjunction with the smaller property (also listed) NZ$9.500,000.
Skills
Great for an investor as the property is currently run with in house Managers, (if required) and small superb staff. As an investment it really stacks up very well and provides a ROI that is highly desirable. Price for the villas/business/infractrucure is NZ$7,000.000. There is immediate ROI as the borders are now open between Rarotonga/New Zealand, occupancy is running solidly for all of 2021 and forward bookings coming for 2022. The other two villas on an adjacent property are also beachfront and are run under the one brand currently.
Hours
9.am - 4pm Monday to Saturday, closed Sunday, but on call if needed.
Lease
All property in the Cook Islands is Leasehold. No exceptions. This property has arund 40 years lease remaining with ROR
Employees
Currently 7 staff plus managers but due to overwhelming bookings, could take on one or two more comfortably.
Reason for Sale
This property is very lucrative, but the owners are now 70 plus and wanting to retire.
About the Business
This boutique 5 star property comprises 5 - 120 sq m absolute beachfront villas set on an idyllic location in Rarotonga, and has won many awards over the years. (Can be viewed on the main website of www.rumours-rarotonga.com ) These 5 villas each have two bedrooms, two bathrooms, a large living area, kitchen and some unique features throughout the villas. Each beachfront villa has it's own private courtyard, swimming pool, spa pool, and waterfalls off rocks into the pools. The other 2 beachside villas have all this less the Spa pools. These villas can be viewed on www.rumours-rarotonga.com website. They are referred to as the RUMOURS ROMANCE VILLAS, and full information is provided there. Property also includes inhouse laundry, kitchen, office, carpark and small managers flat. Villas are maintained to an extremely high standard to keep our positioning intact on the island of Rarotonga. Our website has videos loaded that will give a good idea of the 5 star quality provided. If purchased in conjunction with our smaller property - then it will be a full "going concern" with Brand etc. Total price NZ9.500.000 for both properties.
Full support will be given to the successful purchaser during transition time.
History
Villas are well established internatonally, and to keep our NO.1 position as a top end 5 star accommodation provider, they have been maintained to a very high degree as our nightly rates would testify to. CURRENTLY SITTING AT NO. 1 IN OUR CATEGORY ON TRIPADVISOR, and also just been given the award of us being in the TOP 1% FOR LUXURY ACCOMMODATION IN THE SOUTH PACIFIC. The property could either stay managed as part of the Rumours Brand, or purchased and run separately as an owner/business.
Connect with us