Barbados Property News - February / March 2024

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Alleyne Real Estate - Page 7 Carlton Ridge 20 - Carlton View Estate, St. James 6 bed, 8 bath stunning villa and cottage with pool US $2,300,000

PROPERTY

Polo Ridge 7 - Holders, St. James 4 bed, 3 bath renovated villa on the polo field US $1,050,000

NEWS 6 UNITS LEFT

Island Gold - Page 10

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BARBADOS NEW

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Estates at St. George Commercial Centre

Eagles Nest – Grandview, St. Thomas - Page 19 4 bed, 4 bath villa set on almost 2 acres US $1,400,000

tenants to complement our Commercial bean's first active lifestyle community.

www.barbadospropertynews.com • February - March 2024 • Issue 149

Alora – St. James 2 bed, 2 bath residences minutes from beach From US $420,000

246 432 1159

sales@jalbarbados.com

e part of the community at The Estates at St. George. Conveniently ercial Centre provides an excellent opportunity to access residents of nity in the surrounding parishes. Urgent Care, Italia Coffee Shop, iMart are all located on the first floor, and additional tenanted space on the an interventional pain management clinic and Inkblot Psychological otherapy and assessment.

www.alleynerealestate.com

blic • Parking • ATM • Standby Power Facility • Standby Potable Water

nt on the second floor. m: 835 sq. ft. - 1,706 sq. ft.

month*

-8823

Endorsed by the Barbados Estate Agents & Valuers Association Inc.

Pages 2-3

Exclusive listings you will love.

GATED COMMUNITY, TURN KEY INVESTMENT

WALKING DISTANCE TO MULLINS BEACH

PORTERS COURT #2, PORTERS, ST. JAMES

"CHATTEL CASUARINA", MULLINS, ST. PETER

$ 575,000 USD

2 bed

2.5 bath

2,592 sq ft

$ 1,450,000 USD

5 bed

3.5 bath

26,407 sq ft

EXTRAORDINARY INVESTMENT OPPORTUNITY

SOUTH COAST BEACHFRONT CONDO

STAPLE GROVE PLANTATION YARD, CH CH

PALM BEACH, UNIT 104, HASTINGS, CH CH

$ 1,475,000 USD

5 bed

3 bath

88,939 sq ft

$ 1,550,000 USD

your new property is one call away!

CONTACT OUR TEAM AT (246)537.6930. www.realtorslimited.com

info@realtorslimited.com

3 bed

3.5 bath

2,268 sq ft

SCAN ME FOR A LOOK AT MORE

sales properties

@realtors_barbados

(246)537.6930

VILLA IBIZA Apes Hill Polo Estate

Villa Ibiza by Grove Group showcases a captivating blend of architectural magnificence and the island’s unique essence. It’s commanding position and meticulous design create an aura of grandeur, while the breathtaking Polo Ridge and Western rooftop sea views serve as a constant reminder of the beauty and nature. This residence pays tribute to the vibrant lifestyle and colorful atmosphere that Ibiza is renowned for.

Villa Ibiza offers the added benefit of membership to Grove Group Resorts, which provides access to a range of exclusive amenities such as The Beach Club on Speightstown Bay and Gym access at Westmoreland Hills. This resort-minded property management program enhances the experience of living at Villa Ibiza, providing owners with additional recreational options and facilities to enjoy.

4 Bedroom | 4 Bathroom | 1 Powder 4,062 sq ft

Bespoke Luxury Villa

US$3,650,000

www.grovegroupco.com (246) 571-5005

As Individual As You Are. retail furniture & accessory showroom • full interior design services comprehensive selection of fine linens, crockery & cutlery custom orders for furniture, arts & rugs Archer’s Hall, Queen’s Street, Speightstown, St. Peter, Barbados Open: Monday - Saturday, 9am - 5pm • T: 422-0400 • e: info@archershall.com archershall.com

FOR SALE

Maxwell Beach Villas 102 - Maxwell, Christ Church 2 bed, 2 bath stunning beachfront gem US $625,000 (furnished)

Cherry Avenue 86 - Sunset Crest, St. James 3 bed, 2 bath renovated villa in Holetown US $795,000 (furnished)

Hillington - Golf Club Road, Christ Church 3 bed, 3 bath family home in wonderful location US $695,000

NEW

Malabar Manor – Westmoreland, St James 4 bed, 4.5 bath west coast villa with sea views US $2,750,000 (furnished)

NEW

Carlton Ridge 20 - Carlton View Estate, St. James 6 bed, 8 bath stunning villa and cottage with pool US $2,300,000

Polo Ridge 7 - Holders, St. James 4 bed, 3 bath renovated villa on the polo field US $1,050,000

6 UNITS LEFT

REDUCED

Cordia Avenue 221 - Sunset Crest, St. James Block of four 1-bed apartments in excellent location US $650,000

let local knowledge work for you

Eagles Nest – Grandview, St. Thomas 4 bed, 4 bath villa set on almost 2 acres US $1,400,000

Alora – St. James 2 bed, 2 bath residences minutes from beach From US $420,000

246 432 1159

sales@jalbarbados.com

www.alleynerealestate.com

EDITOR’S COMMENTS

Editor’s Comments The weather further north has been shocking. I can’t remember this many named storms hitting the UK and Ireland in my lifetime. If you had any doubts about climate change, you must now realise that the world’s weather is changing and very unpredictable. Here in Barbados we have had strong breezes with swift showers and cool nights. A nice change! The island continues to be packed with visitors after the Christmas rush and cruise ships are visiting us on a daily basis.

The big news is the the ICC TTwenty World Club is set for June and Barbados will have nine matches, including the final. It’s a huge tourism boost for the island at what can be a quiet time. We are expecting a large influx of media personnel and supporters. So let’s Rally Round the West Indies, put our best foot forward and show the world that Barbados can step up to the challenge of this massive event!

The PGA Tour and Barbados have signed a partnership with the BTMI promoting the island and it’s many courses to millions. It’s great news and Barbados is the first island in the Eastern Caribbean to form such a relationship with the PGA Tour.

Congrats to the developers of the Rockley Residences on their relaunch. Read all about it on page 27. This project is in an excellent location on the south coast bordering Rockley Golf Club and set to be a sell out quickly!

Grove Group Headquarters in Holetown are due to open soon. See how these developers are growing on the west coast and branching into private projects.

Barbados is an amazing place to live and invest in. Continue to follow us on Instagram and Facebook and remember, BPN is on line www.

On the cover: Grove Group barbadospropertynews.com.

If you would like to advertise in Barbados Property News - call Pam at 232-0692

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Credits Publisher – Hiltop Publications Ltd, Corner Hood Road and Navy Gardens, Ch Ch, Barbados Tel (246) 232 0692 Email: sportingb@caribsurf.com www.sportingbarbados.com www.barbadospropertynews.com www.caribbeanpropertymag.com www.caribbeanmortgageservices.com Editor/Advertising – Pamela L Hiles Design and Art Direction – 809 Distribution – Hiltop Publications Ltd, Brian’s Print Brokerage Printing – COT Printery The Material and editorial contained in this publication have been deemed accurate at the time of going to print. The views expressed as editorial are those of the Editor unless stated otherwise. No part of this publication may be reproduced without the consent of the permission of Hiltop Publications Ltd.

INTRODUCING

GOLDEN ACRE TOWNHOUSES PHASE 2

These sophisticated 2 & 3 bedroom townhouses offer a “barefoot chic” lifestyle, with extended indoor living flowing on to lush outdoor spaces, all within a 3-minute walk from the gorgeous white sands of Alleyne Bay. Private plunge pools, open plan layout, modern finished kitchens and bathrooms with spacious bedrooms facing magnificent West Coast views.

Contact us today to find out more.

Contact - Gaël Hopkin | t: 1-246-432-1800 | e: corporate@hopkingroup.com w: www.ghconstructionbb.com | a: Sunset Crest, 24015, St. James

Countryside East

Residential Lots for Sale, located in the parish of St Thomas, with panoramic views of the countryside.

Lots sizes 8184 to 13,877 sq. ft.

Prices range from $140,000 to $315,000.

Phone: (246) 425-4064

salesinfo@eldbarbados.com

Fax: (246) 425-0086

www.eldbarbados.com

Save money when buying or selling property in Barbados You’ll receive personalised support from a dedicated account manager - a currency expert who can keep you up-to-date with the latest currency movements and help you make your transfer at the right time.

With Currencies Direct you can: • Fix and target exchange rates, making your money go further • Buy currency in advance and hold it in a digital wallet until you need it • Receive regular currency updates so you never miss out on a great rate

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Sasha de Vere-Drummond, Key Partnerships Manager +44 7743984306

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+44 020 7847 9244

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© Currencies Direct Ltd, One Canada Square, Canary Wharf, London E14 5AA, United Kingdom. Registered in England & Wales, No.: 03041197. Currencies Direct Ltd is authorised by the Financial Conduct Authority as an Electronic Money Institution under the Electronic Money Regulations 2011. Our FCA Firm Reference number is 900669.

Our EU services are provided by Currencies Direct Spain. © Currencies Direct Spain, E.D.E., S.L., Avenida del Mediterráneo, 341, 04638 Mojácar, Almería, Spain. Registered in the Commercial Registry of Almería under the Spanish tax ID number B04897930. Currencies Direct Spain, E.D.E., S.L. is authorised by the Bank of Spain as an Electronic Money Institution under Law 21/2011 of 26 July and Royal Decree 778/2012 of 4 May. Our registration number with the Bank of Spain is 6716.

Interested in RENTING COMMERCIAL SPACE at The Estates?

We are looking for tenants to complement our Commercial Centre in the Caribbean's first active lifestyle community.

The Commercial building is a core part of the community at The Estates at St. George. Conveniently and centrally located, The Commercial Centre provides an excellent opportunity to access residents of The Estates and the wider community in the surrounding parishes. Urgent Care, Italia Coffee Shop, iMart Pharmacy and Convenience Store are all located on the first floor, and additional tenanted space on the second floor houses Artmed Inc., an interventional pain management clinic and Inkblot Psychological Services which offers private psychotherapy and assessment.

• Central location • Open to the public • Parking • ATM • Standby Power Facility • Standby Potable Water

Commercial spaces for rent on the second floor.

Spaces ranging in size from: 835 sq. ft. - 1,706 sq. ft.

Rental Rate: BDS $4.50 PSF /month* CAM: $1.50 PSF /month*

T: 427-4663 (HOME) or 233-8823 E: TheEstates@sagicor.com theestatesatstgeorge.com *SUBJECT TO VAT

F E AT U R E

F E AT U R E

DESIGN. BUILD. LIVE. The highly successful team of Suzanne Koshnoodi and Max Mulligan

developer alongside her husband Max, has led a natural calling

are expanding again! This dynamic duo behind Grove Group is putting

providing her with a wealth of invaluable knowledge and expertise

the finishing touches to their new headquarters in St James – close

in design.

to the Chattel House Village, Holetown. With three more exciting Grove projects in the pipeline, the developers have been so popular that they

“Our focus is on delivering the highest level of craftsmanship and

are now adding private projects to their portfolio.

attention to detail, ensuring that each luxury villa we create is a true masterpiece. From the initial design phase to the final construction

Grove Group is a property development & hospitality company,

and beyond, we strive to exceed our clients’ expectations. We are

operating exclusively on Barbados’s West Coast. Their pre-

fortunate enough to have the background and the experience to

development, Construction, Furnishing, and Hospitality operations

execute DESIGN. BUILD. LIVE. service providing reassurance to

are all executed by their in-house teams. The Design Centre office in

homeowners their dream home become a reality,” says Suzanne.

Holetown will serve as a showcase for the duo’s exceptional attention to detail and design.

Villa Ibiza being their first Bespoke property for purchase and an additional two within Apes Hill, the duo has been approached multiple

“From our Holetown Design Studio, we have made our DESIGN.

times to be a part of independent projects in the likes of Royal

BUILD. LIVE. services available for existing or future Barbados

Westmoreland and Sandy Lane.

West Coast homeowners seeking a personalized and trustworthy team to secure their investment and vision”, says Max. Despite

With The Grove Beach Club in Speightstown Bay, St Peter due to open

not having a formal interior design degree, Suzanne’s extensive

this coming winter, Mullins Grove 2.0 on track, and their Hospitality

background collaborating with fashion designers, beauty brands,

operation growing, Grove Group are continuing to position themselves

hotels, and the arts, coupled with her years of experience as a

as one of the top developers on the island.

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The Know Your Client Form and the “Why” Real Estate Agents need the information.

As members of BEAVA (Barbados Estate & Valuers Association) we are governed by, not only the Rules of Ethics set in place by our Association, we also follow the regulations put in place by our Government and by extension the FIU and the Compliance Unit of Barbados.

This is to benefit Barbados on a whole – our people, its businesses and its reputation. Money Laundering and Combating Terrorist Financing is a serious matter for Barbados, and BEAVA members take the guidelines put in place for the greater good. It protects you, it protects us, and Barbados.

Not only do persons selling their property, but purchasers also have to complete the BEAVA Know Your Client Form. (KYC).

During the business at hand – your agent will guide you as to when this is to be done, what will be required, and ask pertinent questions and make notes. This information is kept on record for over five years as it may be required by the Compliance Unit in the future.

Agents do not share this information unless a transaction is upcoming – ie: Your property is being sold / or you have found that perfect property, and it is needed by a Lead Agent in a cobroke scenario. Here again, we do not share this information. It is private and confidential, and we treat it as such.

Imagine Barbados without a Compliance Unit, or the FIU to oversee the ins and outs of finance and all that surrounds it.

Bankers, Attorneys, Accountants and other DNFBP’s (Designated

Non-Financial Business Professionals) all have to conduct their due diligence practices. When was the last time you made a large deposit, opened a bank account or tried to transact other business and did not have to present some form of identification, proof of address and in the case of business – your documentation supporting such business…. Not in these times! It is now the norm and will continue to be so.

Barbados cannot afford to be Black or Grey Listed and we all need do our part to help economically. These listings do affect us, and we cannot ignore the requirements. It’s a must! We cannot drop the baton.

We, as Real Estate Agents, and other BNFBP’s going forward in this time of uncertainty where money laundering and combatting terrorist financing is concerned, all need to do our best. There are consequences to pay if we do not comply – none of us want our address to be that of a 6 x 6 cell – certainly not our idea of fun.

Help us all to better Barbados – Know that we will ask for this information and let’s get back on track to being Beautiful Barbados.

BEAVA Agents are here to assist you with your Real Estate needs. We undergo training which includes Anti-Money Laundering and Combatting Terrorist Financing is concerned.

Choose a Registered Real Estate Agent through BEAVA and feel confident you are working with informed, and professional individuals.

Frontline Trading BPN Jan 2024 half page ART VECTOR.pdf

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F E AT U R E

Rockley Residences Welcome to Rockley Residences - offering a perfect retreat for island living!

These two- and three-bedroom condominiums, set amidst 3.25 acres of lush landscape, have been thoughtfully designed for comfort and style.

Each residence will enjoy spacious, single-level open plan living, ensuring a comfortable living space with ample storage.

Conveniently located on the vibrant South Coast, and enveloped by the serenity of mature trees and vibrant gardens of the Rockley Golf & Country Club, Rockley Residences promises a harmonious living experience.

Surrounding a communal pool, each unit is designed to offer scenic views, either overlooking the refreshing pool or the picturesque golf course, creating a tranquil retreat right at your doorstep. Situated within four fourstorey buildings, the development comprises 16 three-bedroom and 24 two-bedroom units, ensuring a sense of exclusivity within this sought-after Rockley neighborhood. Embrace the safety and tranquility of this peaceful community, where every stroll through the neighborhood becomes a delightful experience. Welcome to a place where nature, community, and comfort seamlessly intertwine.

With a prime location for recreation and relaxation at Rockley Golf and Country Club, you can expect excellent rental potential, with existing units already in high demand. Act swiftly, as there is limited availability, with only 40 condos, ensuring exclusivity and a unique sense of community.

Secure your unit now with a US$5,000 reservation deposit. Plus, be among the first 20 to reserve and enjoy an exclusive US$5,000 discount.

Ronald E. Davis – Chairman and Project Development Board Members: Dr. Geoffrey F DeCaires, MD

Richard C. Gill BA (Hons), FRTPI

Stephanie A P King, FCCA Gordon Bayne

Highlighted features: • Kitchen Appliance Package: Refrigerator, Stove, Dishwasher, Microwave, Washer & Dryer • Elevator in each building for convenience • Air conditioning in all bedrooms • Unrestricted parking and dedicated Water Storage Tanks • Onsite management for peace of mind • 9-hole golf course at your doorstep • Club House Bar and Restaurant • Communal Swimming Pool and Sundeck for Rockley Residences • Four Tennis Courts for sports enthusiasts • A short stroll to Worthing and Accra beaches • Two-minute walk to the supermarket, restaurants, bank, doctor, and convenience store • Close proximity to St. Lawrence Gap nightlife

2-bedroom 1,300 sq. ft. approx. starting at US442,500 3-bedroom 1,800 sq. ft approx. starting at US$565,000 Real Estate Services: Luxe Caribbean Properties (Luxe) is the lead agent representing Rockley Residences for the sale of the condominium units.

Visit our website at www.luxecaribbeanproperties.com and request Rockley Residences Email: info@luxecaribbeanproperties.com Office: (246) 233-5893

The Project Team: Project Manager and Architect -Peter Sandiford, M. Arch, B.E.D.S, Dip. Eng., ARB, BIA Quantity Surveyor: Nicholas Blades, BSc (Hons) Quantity Surveying and Commercial Management Legal – Fitzwilliam Stone & Alcazar- Mr. Michael Fitzwilliam

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F E AT U R E

CIBC First Caribbean Unveils Rebrand To CIBC Caribbean Honouring Heritage While Looking To New Era Of Growth, Innovation And Service Excellence

CIBC FirstCaribbean yesterday unveiled its rebranded regional bank, CIBC Caribbean, promising it is not just a “cosmetic change but a strategic move to position ourselves as a modern, forwardthinking institution.”

Speaking during the evening ceremony at the bank’s Barbadosbased head office, Chief Executive Officer Mark St. Hill said the decision to rebrand “reflects our dedication to adapt and evolve with the needs of our clients and the dynamic landscape of the financial industry. In an era of rapid technological advancements and changing customer expectations, rebranding is not just a cosmetic change but a strategic move to position ourselves as a modern, forward-thinking institution”.

St. Hill told the audience, which included Barbados Prime Minister and Minister of Finance Mia Amor Mottley, CIBC President and Chief Executive Officer, Victor Dodig, members of the diplomatic corps and scores of excited bank staff, that the bank is on the cusp of “a new era of growth, innovation, and service excellence through our rebranding initiative”.

“Our new brand identity is a testament to our heritage, symbolizing the values that have been the cornerstone of our success for the past 100 years. At the same time, it embraces a fresh, contemporary look that signifies our readiness to embrace

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the future. We want our clients to feel a renewed sense of confidence in our ability to meet their financial needs, coupled with the assurance that we remain rooted in the principles that have guided us since our inception,” St. Hill said.

Barbados’ Prime Minister Mia Amor Mottley, the featured speaker at the event, thanked CIBC’s President and Chief Executive Officer Victor Dodig for “having the confidence in this country to recommit in this way [for us] to be a serious part of the global brand of CIBC. It was so easy for you to choose anywhere else, but you chose Barbados, and you chose to recommit after some difficult years and that has not escaped us as government or a country. I’m sure it has not escaped your employees as well.”

“I believe that your commitment to the country was reflected not just this year with the rebranding but when your bank took the decision to come back into the domestic market and to purchase $100 million in BOSS bonds…that was a huge step of confidence,” Prime Minister Mottley said. She also praised the bank for thinking “outside the box” and being “innovative” as lead arranger and lender for the Barbados Blue Bond.

She thanked the bank’s employees as well noting that it was clear “there is an abundance of talent and genius and that this bank has tapped into it”.

F E AT U R E

The rebranding event commenced with a flag-raising ceremony conducted by members of the Barbados Cadet Corps whose smartly attired cadets unfurled 10 national flags which fluttered proudly in the evening breeze, representing the territories where the bank is located as well as that of parent company Canada, and the corporate flag.

The rebranding ceremony was punctuated with performances from the island’s leading entertainers RPB, the band Two Mile Hill as well as dancers and stilt walkers. The event concluded in dramatic fashion with the bank’s old corporate logo hovering in the night sky then slowly transitioning to the iconic new CIBC brand, to cheers from the hundreds of staff and specially invited guests.

The Prime Minister along with executives and staff members also placed items representing the bank’s milestones over the years as well as a letter from the youngest member of staff, into a time capsule to be opened in 50 years.

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Everything you need to succeed.

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