Surfworks Myrtle Beach is a 17-acre surf and adventure park featuring the most successful artificial wave technology in the world. Surrounding the surf pool will be a tropical beach-themed atmosphere with a mix of retail, restaurants, bars, and accommodations. The surf park will not only be an attractive destination for local residents but also capture some of the millions of leisure tourists that visit Myrtle Beach every year. The project is now in the permitting process and has opened its Series-B capital raise to accredited investors.
Surfworks Myrtle Beach has opened it’s Series-B capital raise and this is available to accredited investors. To learn more about this opportunity, click on the button below.
Multiple Revenue Sources
Truly innovative best-in-class surf experience and unique visitor attraction with high quality design and multiple revenue sources, including several food & beverage venues, retail, surf schools & camps, video & photo sales, sponsorships, events and accommodations.
20 million annual overnight tourists within easy access of site and staying an average of 6-nights (88% travel by car).
Surfing is innately addictive and encourages repeat trips. Numerous other activities for the whole family to enjoy - Water Slides, Rock Climbing, Beach Volleyball, Skate Boarding, splash pad, playgrounds, lawn games, pools, and hot tubs.
Ideally located between Topgolf, Convention Center, Cubs Minor League Baseball, and Broadway at the Beach (#1 outdoor shopping and entertainment venue in the US with 13m annual visitors)
The park will open all year round with pricing varying by season. Lighting will allow night surfing. Pricing will be competitive when compared to other leisure attractions.
(Market Research by Colliers International)
200,000 paying visitors in a stabilized year
62% of visits will be to surf with remaining visits made up of people coming to watch, eat and/or enjoy the other activities around the lagoon
120,000 surfers will purchase 152,000 surf hours (51% of available capacity)
KEY PERFORMANCE INDICATORS
(2 Years Build + 5 Years Operation)
Capital Budget: $53m
Year 5 Income: $25.4m
Year 5 Expenditure: $17m
Project Level IRR 21.4%