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With high user capacity, relatively low capital expenditure and manageable operating expenses, the financials for the Cove - as mapped out by Colliers International Destination Consulting - provide the pathway for a profitable business.
Available for small and large footprints and fully customizable this innovative sports facility built around surfing represents a sound investment as a stand-alone or mixed-use development, providing a potential annual EBITDA of over 2m € per year and an IRR above 20% (calculations for a stand-alone facility).
|1.8 m WG COVE||2.1 m WG COVE||2.4 m WG COVE|
|Approx. facility Investment*||Aprox . 14m€||To be defined on a project by project basis|
(8 sec interval)
|Up to 1000 expert waves|
|User Capacity/hr||100 surfers|
|Estimated EBITDA**||Above 2m €|
|Estimated IRR**||Above 20%|
* The capital investment includes: Lagoon site preparation and erection, wave generating system, water treatment system, main buildings, outdoor areas and service building, online booking system, development costs and contingency and facility launch.
** Estimates, as calculated by Colliers International Destination Consultants, are for a complete, stand-alone installation (in Spain), excludes land costs and will vary depending on the specifics of each location. Calculations refer to a 7 year exit, with capital leveraged at 50%.