Barbados Property News - February - March 2020

EE NE FR NLI O &

BARBADOS PROPERTY

Island Gold - Page 9

NEWS

Altman Real Estate - Page 13

Ron Karp Realty - Page 40

www.barbadospropertynews.com • February - March 2020 • Issue 127

Saint Peter’s Bay

Page 19

Endorsed by the Barbados Estate Agents and Valuers Association Inc.

Editor’s Comments A new year and a new era for the UK with many challenges and changes. I have no doubt that this will impact our little paradise island but hopefully, now things are settled and a way forward is being planned, it will all be positive!

Barbados is exciting at this time. The weather is beautiful and the social calendar is full. Broadway to Barbados is back and if you haven't seen this show, you simply must put it on the calendar. Shows start the 25th Feb, running for about a week and the venue is the Frank Collymore Hall in Bridgetown. Tickets can be brought at Diamonds International so don't miss it! Polo has started and the Battle of the Sexes will be the Valentines weekend at Holders so come on over and see the action. Then of course we have the wonderful Sandy Lane Gold Cup on March 7th Pamela Hiles, Editor at the Garrison. It's the most prestigious race day in the Caribbean and quite the spectacle.

A big thanks to Lucy Agace, our environmental specialist on her informative article. We should all be doing our bit and more to help the environment. On such a small island it's vital that we play our part - stop the littering and start recycling!

Barbados is the place to be and certainly the place to live. Take a look at all the prestigious developments springing up on this island. It's a great place to invest. We have plenty of choice to buy or rent and if you need furnishings there are a large selection of shops with great selections. Visit us on www.barbadospropertynews.com.

On the Cover: Gajah Home

Publisher – Hiltop Publications Ltd, 11 Cottage Ridge, St George, Barbados, BB19071 Tel (246) 228-9122, Fax (246) 228-0243 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 – Coles 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.

If you would like to advertise in Barbados Property News call Pam at 228-9122 or 232-0692

P L AY Y O U R C A R D S R I G H T LY W D NE STE I L

FOR SALE Mayville on Sea, Christ Church 3 Bed, 2.5 Bath Luxury Home Also available for Rent US $1,995,000

LY W D NE STE I L

FOR SALE Bajan Heights, Royal Westmoreland 5 Bed, 5.5 Bath Luxury Villa US $5,000,000

FOR SALE Golden View 128, St. James 1 Bed, 1 Bath Apartment Floor Area: 700 sq.ft.

US $210,000

LY W D NE STE I L

FOR SALE El Sol Sureno Number 7, Christ Church 2 Bed, 2 Bath Apartment Floor Area: 1,350 sq.ft.

US $347,500

FOR SALE Porters Court 7, St. James 2 Bed, 2 Bath Villa Floor Area: 1,937 sq.ft.

US $460,000

FOR RENT Apes Hill Polo 17 3 Bed, .5 Bath Townhouse Furnished US $3,500 per month

FOR SALE The Hope #1, Christ Church 4 Bed, 3 Bath Home Also available for Rent US $875,000

FOR SALE Olivewood, Sandy Lane Estate, St. James 6 Bed, 6.5 Bath Luxury Villa Floor Area:16, 812sq. ft. Land Area: 1.86 Acres US $11,950,000

FOR RENT #4 Palm Avenue, Prior Park, St. James 5 Bed, 4 Bath Home Unfurnished US $5,000 per month

FOR SALE One Queen Street, St. Peter 2 Bed, 2 Bath Luxury Condos Floor Area: 1,550 sq.ft.

Ground: US $550,000 Top: US $700,000

LAND FOR SALE Land at Roach Village, St. George 3,903.03 sq.ft – 8,147.27 sq.ft.

Prices starting from US $37,500

FOR RENT Clermont Green 11, St. James 2 Bed, 1.5 Bath Townhouse Furnished US $1,250 per month

FOR SALE The Falls 4, St. James 3 Bed, 3.5 Bath Townhouse Furnished US $560,000

LY NT D CE CE RE EDU R

FOR SALE Half Way Tree, Sugar Hill, St. James 5 Bed, 5 Bath Luxury Villa Land Area: 28,974 sq.ft.

US $2,500,000

FOR RENT Maxwell Beachfront Apartments 3 Bed, 3 Bath Apartments Fully Furnished US $5,500 per month each

www.alleynerealestate.com Contact our experienced agents today.

Weston, St. James BB24032, Barbados W. I. Tel: (246) 432 1159 Fax: (246) 432 2733 Email: sales@jalbarbados.com

Arleta Small Spa Bubble Vase Starshine Console

Visit our shooroom & choose a wide selection of home furnishings & accessories.

Book your appointment with our design team today.

Ivory Storage Bench Williams Industries Complex, Warrens, St. Michael, Barbados

Ceramic Vase Rattan Wall Mirror Florence Oil Painting

info@natzinteriors.com fb.com/natzhomefurnishings Tel: 246 424 2661 Fax: 438 1248

R E A L E S TAT E S A L E S

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H O L I D AY R E N TA L S

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PROPERTY MANAGEMENT

w w w. a l t m a n b a r b a d o s . c o m

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P R O P E R T Y C O N S U LTA N C Y

Altman Real Estate is an international associate of Savills

US$550,000

US$497,500

Las Palmas | St. James

Sugar Hill B307 | St. James

Located on the west coast of Barbados is this newly renovated and well maintained 3-bed, 2-bath bungalow style home, which boasts a Jacuzzi, a newly remodelled kitchen with granite countertops and maple wood floors.

• Jacuzzi

• Gazebo

• Gardens

• Semi-furnished

Designed by renowned architect Ian Morrison, Sugar Hill B307 is one of the exquisite Tennis Village apartments at the Sugar Hill Resort. Positioned to enjoy the view of the lush green garden and sea views, this spacious 2-bed apartment is accented with coral stone finishes and features a modern kitchen with granite countertops.

• Furnished

• Gym

• Communal Pool

• Tennis

US$1,049,500

US$1,100,000

Glitter Bay 306 | St. James

Atlantic Rose | St. John Tucked away on approximately one acre of land, this east coast gem provides breath-taking vistas of the Atlantic Ocean beyond the cliff on which it stands tall. This 4-bed, 5-bath villa is an ideal holiday home with the potential to generate rental income.

• Unfurnished • Sea Views • 1-Bed Apartment

• Clubhouse

• Air-conditioned Bedrooms

Glitter Bay 306 (The Princess Penthouse) is a luxuriously furnished 3-bed villa within the beautifully landscaped gardens of the Glitter Bay Resort.

Spread over two floors, the bedrooms are inspired by Japanese, Chinese and New English design and the villa is complete with a spacious Italian kitchen.

• Sea View

• Tennis

• Communal Pool

• Beach Access

US$2,900,000

US$2,990,000

Aurora Lusso | Sugar Hill Resort

Ca Limbo | Sandy Lane Located near the renowned Sandy Lane Golf Community is Ca Limbo, a 4-bed villa with sprawling entertaining spaces and a charming detached 2-bed cottage. This exquisite villa not only offers comfort to its residents but access to the amenities at the Sandy Lane Property Owners Beach Facility.

Located in the gated Sugar Hill Tennis Community, this stylish 5 bedroom villa includes a fully-contained 2 bedroom cottage.

Furnished in a contemporary style, features include marble floors, high ceilings, and spacious living areas.

• Gym

• Sea Views

• Sea View

Head Office, West Coast

• Furnished

• Pool

246.537.0840

• Sun Deck

Limegrove

246.537.0864

• Jaccuzi

• Pool

altmanrealestatebarbados

• Tennis

• Gym

• Club House

realestate@altmanbarbados.com

Design Hub design for living

Millhouse & Home (246) 421-7968 WALKERSWORLDBARBADOS.COM

DREAM DESIGN STYLE INSTALL From a quick room refresh to a complete home makeover, we are are here to help, for free ! Designers, decorators and developers we’ll pull together ideas and concept boards for your clients, too. Contact us to set up a free consultation and choose from our wide selection of sources to achieve what you really want.

Free consultation Meassuring + space planning Concept Boards Paint+Fabric recommends Project cost+ product listing

PAY JUST ONE FLAT RATE DESKTOPS Business Centre provides ultra-modern office spaces that are fully-furnished to the highest standards and are outfitted with all the technology you need to get the job done. Best of all it allows you to reduce your operating expenses by as much as 80%.

There are no up-front cost, overheads or long-term commitments, simply rent as you need. Book online and choose daily, weekly, monthly or for an extended period. They have three meeting rooms that are rented by the hour with special rates for their tenants. This concept truly represents innovation – they have managed to give you quality in every aspect whilst keeping the cost affordable.

General Manager Mr James Bradshaw stated: “everyone should have access to professional services to grow their business but too often it is the monthly operational cost that contribute to most businesses failing before their first year of operation”.

Give them a call for a tour of their facility at Lower Estate, St. George.

T: (246) 538-3375 or visit their easy-to use website at www.desktops.bb 26

Amazing things to do in Barbados!

The entire Sunbury Plantation Great House property underwent a complete and extensive restoration during the summer of 2018 and can now proudly stand as a stunning world-class attraction right here in Barbados.

This historic property has an exclusive and wide range of antiques on display, some of them over 300 years old. The Sunbury antiques have been remerchandised and the collection has been highlighted by premier antique experts in Barbados as “the finest display of antiques in Barbados, probably the finest display in the Caribbean�.

The collection includes a 270 year old dining table impressively laid up for 28 guests in royal style! There is also a vast display of original Barbadian prints, old maps, and a wide range of various items from old Barbados.

Take a stroll through the enchanting gardens and meandering walkways, which have all been added/enhanced along with unique garden accents strategically placed throughout the gardens.

The new front courtyard layout at the entrance to the property laid out with original factory brickwork from the 17th/18th century is impressive and spacious, an ideal venue for that special event.

There is now also convenient parking on the property.

The new Carriage Bar & Restaurant in the center courtyard offers a wonderful range of Barbadian food and beverage options that everyone will enjoy. There is also a new unique retail shop with a wide range of items for sale.

Sunbury Plantation Great House offers daily House Tours of this historic property and also serves daily lunch and our popular Sunday Buffet Lunch at the Carriage Bar & Restaurant, and is the ideal venue for Weddings and Special Events with our spacious Pavilion that can seat up to 250 guests.

Welcome to Sunbury Plantation Great House!

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BUDGET YOUR WAY |

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PAY AS YOU GO WITH OUR 12 MONTH PLAN YOUR OWN PAYMENT DUE DATE EASIER BUDGETING

PAY YOUR WAY! In our CGI office • Online • Surepay • By mail or via the phone.

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Conflicts of Interest On a small island the risk of conflicts of interests arising is high. So what are they and what should we do about them?

Just what is a conflict of interest?

“A situation in which an individual/firm has competing interests or loyalties. Conflicts of interest involve an individual/firm who has two relationships that might compete with each other”.

There are different types:

Direct interests A direct interest is where, for example, an agent may personally buy or rent a property which they are listing.

Or perhaps where the agent receives a direct benefit such as a holiday or financial kick-back from a company that they have recommended or promoted to their Clients.

Indirect interests An indirect interest is where an agent, acting in the capacity of Valuer may assist a person or company to which they have an affiliation to. For example; an agent assisting an employee, friend or relative by providing a valuation report or valuation advice.

Alternatively, where an agent recommends the services of a friend or company to a Client.

Questions that should be asked to establish whether an individual or firm is conflicted; - Could the individual/firm make indirect financial gain at the expense their Client?

- Does the outcome of the services provided by an individual/firm benefit them directly?

- Is the individual/firm representing two Parties whose interests are in conflict with each other?

- Is the individual/firm representing the same Client in two capacities, the outcomes of which conflict?

Example A company is marketing a property for sale and presumably aiming to achieve the highest value obtainable for their Client. If the same company were to act in providing a valuation of the

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BEAVA REAL ESTATE NEWS same property, could they act impartially? Could the company act as an Expert Witness in Court and claim the upmost transparency in this event? This is unlikely to be capable of satisfactory management. This conflict should be declared to the Client and, in the event the conflict can be managed, suitable measures put in place.

One potential source of conflict management is a ‘Chinese Wall’. A Chinese Wall is a term describing an information barrier within an organisation that was erected to prevent exchanges or communication that could lead to conflicts of interest. However, the onus is on an organisation to provide clear and convincing evidence that measures were put in place to ensure that no disclosure could occur. It is simply not enough to say that a ‘Chinese Wall’ exists.

Disclosure When should an agent or Valuer disclose a conflict of interest?

All conflicts or potential conflicts should be disclosed by an agent in writing at the earliest opportunity. The conflict should be disclosed to the party/parties and the consent of the party/parties sought, assuming the conflict can be managed.

If the conflict can be managed; written disclosure and written consent to proceed with an instruction should be sought.

However, in the instance the conflict of interest arising means an agent cannot represent their Client in a proper manner, particularly in the event of a direct conflict, the agent should recuse themselves from the engagement immediately.

What are the dangers of ignoring conflicts of interest?

- Integrity risk - Reputational risk - Credibility risk - Legal challenge by the parties to the transaction - Insurance may not protect the party if they failed to handle the process properly - The individual may be subject to discipline by the professional body/bodies of which they may be members of.

The principle of transparency is at the core of good practice.

The more open you can be with all parties to a transaction, the less likely that you will be accused of a conflict. This sounds easy, but there are often situations where the conflict is not obvious at first glance! If you are unsure….declare it….be transparent!

Putting the Environment at the forefront

by Lucy Agace, Sustainability Consultant Contributor I wonder, as we move out of the twenty tens and into a new decade the twenty twenties what will the old one be remembered for and where will the new decade take us? Hopefully we say goodbye to years of living in ignorant bliss, (of not knowing what it really costs (us and the environment) to provide the things we consume or where the waste they make ends up) and also to clever marketing; that feeds our weakness for convenience products and fuels over consumerism.

If 2019 was the year of hard decisions, cutbacks and higher costs then 2020 must be the year of real change. Positive changes are taking place all over the world as we get set to embrace our environmental realities and how to tackle them. A time to reflect about how we will approach the changes that need to take shape in our everyday lives, no matter how difficult they may be. This new decade will be the turning point to the entire future of Barbados and the world. There is every reason to be positive about the future so long as we don’t think it’s someone else’s job to do it.

We will all be required to play our part to assure the growth, safety, ecological balance and survival of Barbados as we know it today. I mean today and not even yesterday, because the world is changing fast and it will soon be out of our control to effect the outcome. That said l’m here to point out ways in

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which we can make a difference in our daily lives and become more sustainable.

In the last issues l talked about the various ways we can be mindful of how to reduce the use of water, a highly valued natural resource. This issue I want to discuss energy and how we can cut our energy bills. But first I want to return to our water consumption because I missed one simple way to reduce the use of water at home. Most stand alone properties in Barbados are supplied with a tap before the water meter and some also have them after the meter. By turning down both or one of these taps to reduce the flow into the property will reduce how much water you consume. This may not be possible in low water pressure areas. But if you do have high water pressure then turning down the inflow will help cut your bill and reduce the strain on the taps/faucets around the property.

So to the task of reducing our electricity consumption. Prime Minister Mia Mottley has committed to the long-term goal of net zero emissions by 2050 and becoming a fossil fuel-free country by 2030. The installation of clean renewable energy in the form of masses of solar panels on the island is under-way, however take-up of installations in the private sector needs to increase to meet these gallant targets. If we are to meet these targets and in fact the targets set out at the 2015 Paris Agreement then we need to embrace solar technology as much as we can.

One of the most effective ways to reduce energy bills and reduce carbon emissions is to install solar panels that heat your hot water at the very least. The price is coming down for solar panels and there are more suppliers and installation companies in Barbados now than there were when they first arrived on the island over 10 years ago.

If you are considering or in the process of building a villa, or any building come to that, then you are obliged to heat hot water using solar power panels. All the local architects will, I’m sure, advise clients to incorporate as much solar energy as possible. With the island suffering from some quite substantial power cuts at the end of 2019 being able to store electricity at home could become very important.

Whether you install a system that stores power and or sends it to the national grid could be a financial decision for the most part. This is probably the best solution if at all affordable.

However, with regards to an existing property there are some practices that you can initiate to reduce power usage. Firstly make sure all you light bulbs, whether inside or outside, are

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So what is Solar Energy and why is it so important to mankind?

Sunlight or solar energy is by far the largest source of energy received by Earth. At current values the supply is vastly in excess of the world’s current and anticipated energy requirements. If suitably harnessed, this highly diffused source has the potential to satisfy all future energy needs. Solar energy is extremely attractive as a renewable energy source because of it’s inexhaustible supply and it’s nonpolluting character, in stark contrast to the fossil fuels coal, petroleum, and natural gas.

Unfortunately, though solar energy itself is free, the high cost of its collection, conversion, and storage still limits its

exploitation. Flat-plate or solar panels are the most common devices used to capture solar energy and convert it to thermal energy. These are used for heating water and house heating. The efficiency of the panels ranges from 20 to 80 percent, depending on the design of the collector.

Another form of capturing solar power is by using solar cells or photovoltaics. Classic crystalline silicon panels and emerging technologies using thin-film solar cells can be installed by homeowners and businesses on their rooftops to replace or boost the conventional electric supply.

These supplies can also be stored in batteries for later use.

LED. I would like to mention that there have been some recent warnings about the possible negative effects the ‘blue light’ emitted from LED bulbs can have on our health, mainly eyes.

But recent studies by various government organisations and the European Commission have found this not to be the case.

Please check and make up your own minds. I can tell you that LEDs are up to 85% more energy efficient. Please consider using motion sensors on outdoor lighting, only having them on when absolutely necessary, and ensuring lamps are pointing downward and properly shielded so that the light isn’t causing light pollution.

Fridges and freezers use a lot of power so make sure you have them set to the optimum setting to suit what you are storing and perhaps how many times you open the door. If you are going away, some fridges now come with a holiday setting, it keeps the power usage very low for the period you are away.

Pumps and Filters for pools also use a lot of power and these need to be set to their minimum run period to keep the pool clean. It is worth discussing this with your pool maintenance company first. I have found that turning the time period down reduced my power bill by 20% which is not a small sum.

And it’s not just about saving money, it’s also about reducing our power demands. Although Barbados BLP do incorporate solar energy as part of the island’s supply (you can view this on their website) it remains important to keep usage 35

FOR SALE C O T TA G E , S T. G E O R G E

A five bedroom, four bathroom approx. 5,000 sq ft home with an additional self contained granny flat, double garage, storage rooms, office and swimming pool in the highly accessible area of Cottage, St George. The house is fully tiled with porcelain and ceramic tiles, all bathrooms and kitchen have been refurbished, wrought iron throughout and security system. High ceilings and open plan living areas make this lovely property cool and bright. Fully fenced with gardens, the land is approx. 14,000 sq ft. Price $1.3 mil Bdos. For further information call 2320692.