ZURA Bermuda - Boutique Hotel and Residences is under construction and progressing rapidly on the property formerly known as Surf Side Beach Club, on the south shore in Warwick.
The initial phase will have 18 hotel residences providing up to 46 hotel rooms. Also featured as part of the initial phase will be a new poolside restaurant with exceptional ocean/reef views and the intimate new Spa AZURA. Phase 2, already approved, has the ability to create up to 23 additional hotel rooms for a total of 69 keys.
Clearwater Development Ltd., comprised of a Bermudian team of veteran hospitality and real estate professionals, is behind what is largely a new concept for Bermuda.
Bermudians and overseas buyers can purchase a two- or three-bedroom condominium or free standing Bermuda Villa ranging in size from 1,650 to 2,400 square feet. Prices range from $799,000 to $1,995,000, with each hotel residence being whole ownership (999 years leasehold). The residences are designed to allow each bedroom to function as a fully private hotel key. The owners can rent their entire residence, or any part of it through the AZURA Hotel management company. They may live in their residence on a full time basis if they wish, while still generating revenue by renting individual bedrooms through the hotel. A typical newly constructed or "like new" renovated hotel room includes stunning ocean views, 450+/- square foot interior and 100+/- square foot private verandah or garden, ensuite bathroom, and many including kitchen or kitchenette. Nightly rates are projected to be in the $275 to $475 range depending on season.
One major benefit of purchasing a residence at Azura is that the hotel concessions that have been granted allow owners participating in the hotel program to receive the very attractive purchase pricing, have land tax waived for five years, and enjoy duty free pricing on furniture, fixtures and fittings. And for overseas buyers, the property license fee is waived. Work commenced in fall 2016 with the initial priorities being landscape and common area enhancements, expansion and improvements to the pool and restaurant area, renovation of the reception/lobby building, and major restoration of the cliffs and beach area, including renovations to the sea walls and construction of elevated and protected beach areas. This work is nearing completion and construction of the residences is underway. Initial occupancy by hotel residence owners and hotel guests is scheduled for early 2018.
Many of the existing buildings are going to be retained, and those are being thoroughly renovated. In addition, spectacular new 3-bedrom villas are being built. These villas will have 10-foot ceilings with floor to ceiling glass facing directly over the beach and ocean. They also have substantial vegetation on the roofs, which creates added green space and amenity areas for owners and hotel guests.
For information on the hotel and residential opportunities call 441-232-9000 or email@example.com.