02.04.2012Colliers International is delighted to announce that it has been retained as exclusive business and real estate development advisors to Instant Sport. The Spanish engineering company has developed one of the most exciting new leisure products on the market - Wavegarden. Wavegarden is a man-made wave attraction that creates ideal conditions for surfing and a broad range of other wave sports. It can be developed in existing shallow lakes and lagoons or in purpose built ones, creating the most natural waves for surf enthusiasts and a wonderful spectacle for visitors. A Wavegarden facility provides a beach environment and a world-class surf spot, all-in-one. It is ideal for resorts, leisure parks or as a central feature in large scale mixed-use developments. The ideal size of the lagoon is c. 250m x 80m but smaller and larger versions are feasible. The facility can be enjoyed by beginners through to top surfers with the ability to adjust the size and strength of the waves for different levels of experience. Seán Young, Director of Destination Consulting at Colliers International: “We are delighted to be involved with Instant Sport. Wavegarden is the most exciting leisure attraction concept I have seen in over 10 years there is nothing else like it on offer at the moment. "Wavegarden provides the ability to create new surfing destinations anywhere in the world, offering perfect waves without the need for coastal tides. It is very cost effective and has minimal environmental impact. I can see this exciting product being of interest to land owners, developers, government agencies and investors who are looking for a commercially viable leisure attraction that will provide competitive differentiation and help increase tourism.” Fernando Odriozola, Sales & Business Development Manager at Instant Sport: “The initial reaction to Wavegarden has been incredible. We have already received prepayments for five Wavegarden facilities in America, Europe and the Middle East. Colliers’ skills, experience and coverage make them the ideal partner for us and with their help we are aiming to drive rapid growth and expansion of Wavegarden around the world.” Key Points: Ideal site size – 4 to 5ha Technology allows the creation of waves of any size but a maximum wave size of 2 meters is recommended. The lake/lagoon must be drainable at least once a year and maintain a constant water level with a maximum fluctuation of 10cm allowed. Lagoon has capacity for 10 to 15 expert surfers and 40 beginner surfers at one time All wave making machinery is below water allowing for the creation of a lake/lagoon in a very natural setting without apparent human construction. As such, Wavegarden could potentially be developed in agricultural land or other land with development constraints. Minimal environmental impact, minimal energy consumption and minimal civil work. Estimated capital cost of total facility (including creation of artificial lagoon but excluding cost of land) c. €5m - €6m. Estimated IRR (excluding land cost) – 15% to 20% depending upon location A safe environment for surfing and other wave sports.