St. Simons Island, Georgia to Offer Oceanfront Estate, Villas, Lots at J. P. King Real Estate Auction

(BUSINESS WIRE)--J. P. King Auction Company, the nation’s leading real estate auction company specializing in high-value properties, is managing the real estate auction of an oceanfront estate, ocean-view villas and beach-view lots on St. Simons Island. The real estate auction will take place on-site, Saturday, October 24, at 2:00 p.m.

“St. Simons Island provides the ultimate in coastal living,” said Craig King, president & CEO of J. P. King Auction Company. “It is one of Georgia's renowned Golden Isles and is well known as a resort community with top-tier golf courses, tennis courts, shopping, art galleries and a variety of restaurants.”

St. Simons Island properties include the following:

* The crown jewel of St. Simons Island, the Idea House is an oceanfront estate located in a gated community on the widest stretch of St. Simon’s beach. It contains three bedrooms and three bathrooms that are situated on 80+/- feet of beach frontage. The home was once designated as “Idea House” by Coastal Living. The most spectacular home site in Georgia, its upper-level master suite is designed with his-and-her baths and ocean views from the master suite. On the main level of the Idea House, two guest suites surround a state-of-the art kitchen and living area along with a wraparound deck that overlooks St. Simons beach. Below the home, the property features a cabana with a spa.
* Two ocean view Villas at Coast Cottages are selling absolute. The four-story villas contain four bedrooms and 4.5 baths. The entry-level floor features a dipping pool and parking garage while three bedrooms and three baths are on the next floor. On the main level is a large living and dining area with a state-of-the-art kitchen, a porch and a half bath. The oversize master suite is located on the top floor with a porch and large sleeping porch or office study. Each villa also features its own rooftop deck with expansive views of the ocean.

* Four ocean-view lots are selling absolute. Two lots with beach access are located within the Villas at Coast Cottages development. They were originally designed for two villas per lot or for a single family home. Additionally, two prime ocean-view residential lots are located on Bruce Drive, which is the prestigious East Beach area of St. Simons Island.

“We felt that the best way to market and sell these properties was through a high-end quality auction house such as J. P. King Auction Company,” said owner Denval Hamby. “We are working on another project that is nearby and decided the best way to move forward with these properties was by conducting an inventory close-out sale.”

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Revitalization Presses Forward on Jekyll Island, GA, First Redeveloped Condominium Hotel Opens Doors This Week

PRNewswire/ -- Although real estate development has stagnated in most parts of the country, it's moving ahead rapidly on Jekyll Island, Georgia. In October, the board of directors for the Jekyll Island Authority approved revitalization plans for the island paradise, and this week Jekyll Oceanfront Resort becomes the first redeveloped condominium hotel to open its doors to owners and guests on this state-owned barrier island.

"During the real estate boom in the early part of this decade, developers seemed to have overlooked Jekyll Island," said Tripp Snyder, Managing Partner, Jekyll Oceanfront Development Investors 1, LLC (JODI 1), "so the prices have remained extremely attractive for development. The hotel condominiums are absolutely some of the best investments on the East Coast because of the incredible affordability of Jekyll Island."

Lower construction costs have allowed Jekyll Oceanfront Development to rebuild and now sell these condo-hotel villas at a great value. They used the best architects, designers, and contractors available to update and enhance the former 1970's-style facilities to 21st-century standards. For example, the lobby of the resort is undergoing a complete re-design by noted interior designer Lisa Torbett, whose work has been featured in Architectural Digest and other prestigious design publications.

These beach-access and ocean-front villas are being offered for prices ranging from $100,000 to $495,000. Comparable condominiums with beach access on neighboring islands cost in excess of a million dollars.

"We're experiencing exceptionally strong investment interest," said Snyder. "Because beach-access real estate is a rare and limited commodity, this property is probably one of the safest purchases in the country today. At a time when many other investments have lost their luster, investment ocean-front real estate is highly attractive. For example, one potential buyer is purchasing three units. Many have told us that the value of property on Jekyll Island will only continue to appreciate."

"The new Jekyll Oceanfront Resort is an absolutely beautiful and affordable resort within steps of our pristine, highly desirable beaches," said C. Jones Hooks, Executive Director, Jekyll Island Authority. "The dream of revitalization is quickly becoming a reality here on Jekyll Island, and it's really exciting to see the transformation take place."

State law mandates that 65 percent of Jekyll island remain in its undeveloped natural state, and the revitalization plan places high priority on environmental preservation. "This is just the kind of project that Jekyll needs to revitalize the island," said former State Senator Ed Boshears.

The Jekyll Oceanfront Resort units are the first of their kind to be offered for sale on Jekyll Island. Once purchased, they will be available for rental by the Jekyll Oceanfront Resort's management team. The property is located on a beautiful barrier island that offers one of the best locations on the East Coast for a delightful and affordable vacation.

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