Temenos Anguilla Hotel and Resort Back Up For Sale

The Wall Street Journal reports that Mr. Leandro Rizzuto, owner of CuisinArt Resort & Spa here on Anguilla, is selling Temenos Hotel and Resort for $24 million.

Temenos Golf Club
Temenos Golf Club

He had bought the complex and the golf course for $15 million in June.  If he does manage to sell the resort and real estate for $24 million, he effectively gets the golf course (which cost $50 million to make) for free and makes a profit of $9 million.

This Anguilla golf course is sensational and it is adjacent to the luxurious CuisinArt Hotel, a strong and free addition to the resort.

The remaining 32 acres and unfinished hotel and villas would need another $95 million to complete. It also comes with legal problems from villa purchasers who have put down millions in deposits (which have apparently been spent by the previous developer).

Details at the Wall Street Journal.