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Portsmouth, RI Portsmouth, RI 125 Acre Fully-Permitted Waterfront Development Opportunity Contact Information: Matt Fair Senior Vice President +1 401 273 2053 [email protected] Pete Hayes Partner +1 401 273 7426 [email protected] Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance Cushman & Wakefield Copyright 2020. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. CONTENTS Executive Summary 6 Investment Summary 8 The Opportunity 12 Neighborhoods & 14 Associations Newport Overview 27 4 hayessherry.com | n e w p o r t b e a c h c l u b confidential offering m e m o r a n d u m 5 EXECUTIVE SUMMARY Cushman & Wakefield Ɩ Hayes & S herry has been exclusively engaged to sell the remaining 108 “fully permitted” residential entitlements at the Newport Beach Club in Portsmouth, RI, one of the finest luxury waterfront developments on the East Coast. While a portion of the site has been built and sold, the remaining 108 permitted lots present an opportunity for a developer to complete this upscale community. Ideally located just 15 minutes from Newport, 30 minutes from Providence and 75 minutes from Boston, this exclusive residential resort features exceptional amenities and facilities that are second to none. On-site amenities include a Beach Club with 3 Resort-Style Pools, Private Beach, Equestrian Center, Tennis Pavilion, and Fitness Center. Entitlements include Town of Portsmouth approvals for a marina of up to +5,698 linear feet of slip space. The property offers a developer the opportunity to achieve an expedited “go-to-market” sales process with a variety of extravagant home styles including custom estates, unique villas and cottages, and upscale condominiums. Newport Beach Club is truly a once in a lifetime development opportunity. 6 hayessherry.com | n e w p o r t b e a c h c l u b confidential offering m e m o r a n d u m 7 INVESTMENT SUMMARY Address: 195 Newport Harbor Drive, Portsmouth, RI Site Size: +125 Acres Entitled Units: 108 Units (53 Declared/55 Undeclared) Community Amenities: Beach Club with 3 Resort-Style Pools, Private Beach, Equestrian Center, Tennis Pavilion, Fitness Center, 41-room ‘guest accommodations’ (potential conversion to additional residential units) 8 hayessherry.com | n e w p o r t b e a c h c l u b Beach Club with 3 Resort-Style Pools Pool area is immaculately landscaped and includes a poolside restaurant, private cabanas, children’s play area, and beachfront fire pit confidential offering m e m o r a n d u m 9 Private Beach Equestrian Center A quarter mile private beach with luxury beach chairs and umbrellas, Features indoor/outdoor riding facility and full service boarding stables cleaned and maintained daily 10 hayessherry.com | n e w p o r t b e a c h c l u b Tennis Pavilion Fitness Center Lighted area has four Har-Thru tennis courts, two paddle tennis courts, and Year-round facility with treadmills, stair machines and free weights with a warming hut with lounge and restroom facilities panoramic oceanfront views confidential offering m e m o r a n d u m 11 THE OPPORTUNITY Beach Village 20 Units Available 20 Declared Tennis Village Narragansett Bay 4 Units Available 4 Declared Equestrian Village 22 Units Available 22 Undeclared Hillside Village 13 Units Available 13 Declared Waterside Village 16 Units Available 16 Declared Guest Room Accommodations 41 Rooms Available 41 Undeclared Beach Club Residences 24 Units Available 24 Undeclared Marina Residences 9 Units Available 9 Undeclared Marina ±5,698 linear feet Approved by Town* Amenities Newport confidential o f f e r i n g m e m o r a n d u m 13 Neighborhoods & Associations Beach Village Tennis Village Equestrian Village Hillside Village Waterside Village 14 hayessherry.com | n e w p o r t b e a c h c l u b e q u e s t r i a n v i l l a g e h i l l s i d e v i l l a g e Equestrian Facilities t e n n i s v i l l a g e Tennis Club & Facilities hotel / condos waterside village b e a c h v i l l a g e Pool & Clubhouse Marina confidential offering m e m o r a n d u m 15 Beach Village – 20 Units Declared Beach Village features luxurious single-family homes crafted with seaside New England architecture, many offering sweeping views of Narragansett Bay. There are a total of 41 single-family land condominium units in the Beach Village master condominium, 21 of the units have been sold and 20 units are available (red outline) for development. Requires some additional infrastructure work. 16 hayessherry.com | n e w p o r t b e a c h c l u b confidential offering m e m o r a n d u m 17 18 hayessherry.com | n e w p o r t b e a c h c l u b Tennis Village – 4 Units Declared Centered around the Tennis Pavilion, these well-appointed cottages and villas overlook the tennis and paddle courts. The contemporary floorplans and finishes in these three- and four-bedroom homes include stunning open kitchens with modern features ideal for family gatherings and entertaining. There are a total of 23 residential lots, 19 of which have been built and sold with 4 lots remaining (red outline) for development. The additional 4 lots are available for immediate construction and do NOT require additional infrastructure work. confidential offering m e m o r a n d u m 19 Equestrian Village – 22 Units Undeclared The Equestrian Village features 24 permitted single family lots surrounding the Equestrian Center. Two of the lots have been sold and the remaining 22 lots (red outline) are available for sale. The 22 remaining lots will require additional infrastructure such as roadways and utilities. 20 hayessherry.com | n e w p o r t b e a c h c l u b Hillside Village – 13 Units Declared Hillside Village is composed of 18 oversized, elevated lots with sweeping views of the resort and Narraganset Bay. Five of the lots have been sold leaving 13 units (red outline) for future development. The 13 lots will require some additional infrastructure work. confidential offering m e m o r a n d u m 21 Waterside Village - 16 Units Declared Waterside Village is currently approved for up to 16 condominium units. O n e 16-unit building is fully approved and available for immediate construction. The building shown on the site plan (green solid) is fully approved and available for immediate construction. See renderings below for potential examples of product type. 22 hayessherry.com | n e w p o r t b e a c h c l u b Guest Room Accommodations - 41 Rooms Undeclared Newport Beach Club is currently approved for 41 guest accommodation rooms shown on the site plan (red solid). These rooms will require further review and infrastructure as well as final approval from the Town of Portsmouth as to the configuration and location of said rooms. These will require additional infrastructure. confidential offering m e m o r a n d u m 23 Beach Club Residences 1-2 24 Units Undeclared Marina Residences 1-3 9 Units Undeclared The Beach Club and Marina Residences include 33 undeclared units, shown in conceptual location (purple solid). The number and character of these units has been revised by and through several amendments to the Development Documents. These units can be developed subject to final approval from the Town of Portsmouth as to the configuration and location of said units. Construction of these units will require additional infrastructure. 24 hayessherry.com | n e w p o r t b e a c h c l u b confidential offering m e m o r a n d u m 25 Slip approvals are as follows: Boat Length/Number of Slips (164 Total/±5,698 linear feet) o Marina - 164 Slips / ±5,698 linear feet 80ft/2 slips o 60ft/21 slips The Newport Beach Club has been approved by the Town of o 40ft/19 slips Portsmouth for the construction of a marina on-site. Per the o 36ft/22 slips Development Agreement, marina slips are subject to final approval by CRMC and the Town of Portsmouth. The proposed marina is o 30ft/60 slips the last amenity at the Property. Construction of the marina is o 24ft/26 slips dependent on State permitting and need not be built. o 60ft (transient)/1 slip o 50ft (pump out)/1 slip o 16ft (PWC/sailing school)/12 slips 26 hayessherry.com | n e w p o r t b e a c h c l u b NEWPORT OVERVIEW Newport is established as one of the most popular vacation destinations in New England. The coastal communities that make up Newport County feature miles of unspoiled beaches, scenic trails, distinctive shops, renowned restaurants, diverse accommodations and world class events create an atmosphere that is one of a kind. confidential offering m e m o r a n d u m 27 Cliff Walk Wide Array of Cultural Unique Restaurants, The Cliff Walk is a 3.5 Mile elevated path along Activities Shopping, and Nightlife the coastline in Newport, home to some of The summer months of Newport feature a wide Newport is home to a wide array of restaurants Newport’s famous mansions.
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