Havasu News tells MHProNews that the lease to the Beachcomber Resort was purchased by Peter Patel, under the name Sammy’s Island, LLC, a business incorporated at the end of December, after winning the auction that began with an opening bid of just over $7 million.
The new 38-year lease for 47.3 acres of lakefront Arizona state trust land takes effect February 1 and will require Patel pay either 4 percent of his bid price – around $1.2 million – or 10 percent of gross rental receipts to the state land trust each year. Every five years, the land value the rents are based on increases 5 percent.
On Friday, residents at Beachcomber were uncertain about what the future would hold but hopeful the new owner would listen to their desires and improve current facilities.
Bob Piekarski of Minnesota is an eight-year tenant at Beachcomber, but didn’t seem too worried about impending changes. On the contrary, Piekarski kicked back in a lawn chair on his porch, and grinned as he speculated which prospective improvements the new owner would bring to the resort.
“I think it’ll be even better with improvements,” Piekarski said. “A bigger clubhouse, modernized pool, more games and recreation events, and a workshop.”
The resort on the southern tip of the Island includes a manufactured home community consisting of approximately 200 lots, with monthly rents between $1,100 and $1,400. It also includes an RV park of more than 250 lots, with rents between $525 and $585, and nearly 100 boat slips. Some of the manufactured homes are owned by individuals rather than Beachcomber. ##
(Photo Credit: Beachcomber Resort)
Article submitted by Sandra Lane to – Daily Business News – MHProNews.
