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Epidavros Hotel Feasibility Study, Greece

Navigator is developing an innovative project for a 1,200,000 m2 beachfront property adjaceant to old Epidavros, Greece.

The project concept includes the development of a holiday village / retirement village concept for full- and part-time residents, with on-site medical assistance, animation/concierge and technology services.

The project includes:

  1. Definition and design of an investment concept: Epidavros Estates. This comprises an integrated development based on an amphitheatric property development featuring single-floor and duplex units suited for third-age and family tourism and long-term residency. The development includes an on site medical clinic, dietician, physical fitness instructors, animators and other services designed for older European tourists / residents and their families. Additional infrastructure includes a fitness centre with an indoor and outdoor heated seawater pool for thalassotherapy and spa treatments, restaurants, an art gallery and specialised food and goods retail), and a fitness centre.
  2. Development of a hybrid income model, based on short-term and long-term rentals and time sharing.
  3. Development of a detailed financial model, including income generators at different stages and scenarios of development: room nights, catering, and services (excursions, treatments, etc).
  4. Modelling of sustainable development practice for the concept. This includes the integration of energy-saving building materials and methods into the property design, as well as inclusion of small-scale renewable energy (photovoltaic) technologies. It includes collection and use of grey water for landscaping; collection of biodegradable and recyclable materials using separate collection methods; advance waste treatment methods on site; and integration of traditional landscaping and architecture.
  5. Promotion of the investment concept to banks, equity funds, and individual investors.
  6. Project management for project implementation.

This project is in the pre-feasibility stage and depends on receiving regulatory permission for site development, expected in October 2012.