We successfully completed on the purchase of two prime West Coast Barbados properties ‘Aquamarine’ & ‘High Tide’ (circa US$6.2m), in May 2007.

We followed that success by completing on a third key property, ‘Turtle’s Nest’, adjacent to the above two properties, in Q1 2009 (US$5.5m).

Negotiations have commenced to acquire the fourth property in this amalgamation phase.

If all four properties are acquired, the properties combined will provide 100m of beach frontage and an unrivalled beachfront development opportunity on the prime West Coast of Barbados. This links very nicely with our Mullins Ridge 1 development, also managed by the St Vincent Group, by providing an exclusive private beach access point for the new property owners as part of that development. Both the Mullins Beach and Mullins Ridge 1 & 2 developments will benefit financially from a sought-after link to an exclusive beach facility that will be built as part of the development plan.

Gillespie & Steel have been appointed as project architects to the scheme and their initial proposals indicate potential for up to 20 apartments of between 2,500-4,000 sq ft each. It is premature to comment on anticipated sales price points for each dwelling at this stage.

The Gross Development Value (GDV) for this project is circa US$80 million.

Disclaimer:

The information on this website is published by St. Vincent Capital Limited which is authorised and regulated in the conduct of investment business by the Financial Services Authority number 403089.  St. Vincent Capital Limited is a company registered in England and Wales number 4685568 and its registered address is 3 Beeston Place, London SW1W 0JJ.

Information regarding past performance is not an indication of future performance.  The information contained herein has not been audited or verified by a third party and should not be seen as an indication of future returns.  This website is directed only at certain categories of persons to whom unregulated collective investment schemes may be promoted under the relevant UK regulatory legislation, namely (i) persons outside of the United Kingdom, (ii) persons falling within exemptions set out in the UK Financial Services and Markets Act (Promotion of Collective Investment Schemes) (Exemptions) Order 2001, and (iii) persons falling within the exemptions set out in the UK Financial Services Authority’s Conduct of Business Sourcebook.

The St Vincent Group comprises numerous corporate entities that are needed to ensure that investments are structured to maximum advantage in terms of compliance and absolute returns.