Anguilla's, if not one of the world's, most luxurious hotels is up for sale. The greater part of the real estate comprising the Cap Juluca resort will be sold at a public auction May 2, 2012.
The auction will take place as part of a restructuring process toward debt obligations owed to the original developer. "The opportunity to buy a world-renowned property of this quality and distinction is very rare," said David Kaufman, principal of real-estate auctioneer DK Realty Partners. "I fully expect Cap Juluca to draw strong interest from qualified investors around the world."
Due to a default on payments under terms of a settlement agreement between the current owner of the asset and Charles Hickox, the original developer of the property, the real estate assets are being sold at a public auction pursuant to Anguilla law. The settlement agreement was entered into in October 2010. The auction will have no effect on the operations of the hotel; a smooth transition is planned.