Modern villa with rental cottages for sale in Ahangama

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Mar 5

Written By Max Duddy

A really well-conceived and finished villa ‘complex’ with a principal house and two very well styled and equipped private rental villas

For sale - Guide price USD 490,000

Extent - 62 perches (0.4 acres)
Built up square feet - 4,000 square feet (approx.)
Principal villa - two-bedrooms, open-plan kitchen, dining, living area, pool, private garden, gated driveway with covered parking
Two stand-alone one-bedroom guest/rental villas - sitting room space, kitchen, bathroom, private garden and private swimming/plunge pool
Much sought-after residential area of popular Ahangama on Sri Lanka’s South Coast
1.2km from the beach - 3 minutes drive
Prime surfing location giving very good occupancy for the rental villas - excellent commercial opportunity
Reference - 77

Brochure

Overview

Well conceived and equally well finished, this unique setup offers a principal two-bedroom villa and two entirely self-contained private villas with high occupancy throughout the season on Sri Lanka's South Coast.

All three units are designed in a contemporary style with open-plan layouts, modern fittings and cool terrazzo floors. The two-bedroom villa is home to the current owners and offers a comfortable space with a good-size lounge and kitchen opening, through glass sliding doors, to the dining terrace, pool and garden.

The master bedroom is on the first floor and the architecture is such to allow for a poolside third bedroom to be added should the new owners wish.

Both the rental villas are very attractively designed and finished, with generous space for one-bedroom units, including all the amenities required to be entirely self-contained. They boast well-kept private gardens, the first with a good-sized pool and the second with a neat plunge pool.

With occupancies around 90% in the season, they are clearly in high demand.

Ahangama has, in a relatively short time, become the darling of the South Coast’s surf and creative hospitality scene. For many years a bit of a drive-through village for most visitors, and not especially on the map for Sri Lankans either, it’s undergone a transformation since being recognised as having some of the best surf breaks (and hidden beaches to go with them) on this Southern stretch of coastline.
New cafes, bars, restaurants and co-working spaces have popped up rhythmically and it now nicely combines local life with relatively low-key tourist development.
That development has driven price appreciation on the beachfront and that’s happening inland too as more buyers look for opportunities a little more affordable.
The owners of this property actually saw the trend before most and have spent several years developing their concept, finishing it to a high standard and building - as well as their own home - a hospitality product that is proving much-loved and commercially successful.
The villas are within very easy reach of beautiful beaches with 15 good surfing locations within a 10 minute drive.

The UNESCO World Heritage site of Galle Fort - with its maze of boutiques, cafes and gem stores - is a 30 minute drive and, via the Southern Expressway, Colombo and the International Airport are no more than 2.5 hours away.

That Expressway also makes journey times towards the East, for National Parks and beautiful empty coastline, more easily managed.
The properties are offered as seen with all furniture, much of it custom-designed and produced, included within the guide price mentioned.
As above, the owners have taken care to develop the properties to a high standard and have overseen installation of three-phase electricity, municipal water supply with well-water backup and solar hot water heating with electrical backup.
The property sits near the end of a quiet but relatively smart residential area and so access is good, largely on well and smoothly tarmacked roads.
As said, the owners have developed their rental business over several years and have a smooth operation in place with a good understanding of market demand. As one-bedroom, self-contained units with private gardens and pools the rental villas offer something almost totally unique in this area and so rent exceptionally well in the season.
The owners are happy and open to sharing more of the economics and potential of the business as required but, if managed to similar high standard by new owners, it’s likely a buyer would earn a significantly positive yield on investment.
The owners do have an agreement in place with a management company to oversee the operation of the rental villas for periods when they are away from Sri Lanka. That option would be open to new owners.