Barbados Property News April May 2012 by Hiltop Publications Ltd

EE NE FR NLI O &

Musson Realty- Page 52

The Crane - Inside back cover

Realtors - Inside front cover & Page 23

BARBADOS PROPERTY

NEWS www.barbadospropertynews.com • April 2012 - May 2012 • Issue 80

Endorsed by the Barbados Estate Agents and Valuers Association Inc.

Sapphire Beach Pages 24-25 1

Royal View, Royal Vi ew, St James Jam es

FOR FO R SALE SALE

Lar Large ge ttwo-storey wo-storey house house w with ith 5 bedrooms, bedrooms, 3 bat bathrooms, hrooms, breath breath taking taking vviews, located iews, lo cated close close tto o Royal Westmorland 8,848sqft Ro yal We estmorland on 8, 848sqfft of mature mature lland. and.

US$ S$550,000 550,000 RE REDUCED DUCED SHARA, St George G e o rg e SHARA,

FO RS ALE FOR SALE

Ashanti Condos, Ashanti C ondos, St Peter Peter

FOR SALE FO R SA LE

Great Gr eat llocation, ocation, ffantastic antastic ssea ea vviews, iews, high-end high-end finishing, pool gardens. fin ishing, communal dens. communal p ool and llush ush gar pt REDUCED Apt 3 bed A US$ US$ 6 600,000 00,000 REDUCED 5 bed P enthouse pr Penthouse private ivate pool US US$1.100,000 $1.100,000

Vi Visit sitt us us at at our our new new location location

Neils, Neils, St Michael Michael

FOR FO R SALE SALE

Large 5 bed 2. 5 bat h det ached hous e on appr ox. 2 Large 2.5 bath detached house approx. acres of land land iin n need of m inor rrepair. epair. C lose to acres minor Close transport links. links. US$ US$ 6 650,000 50,000 transport Church Bishops Christ Bishops Lodge, Lodge, Ch rist Church

FO R SALE SALE FOR

Church Church Point, Point, Holetown, Holetown, St St James. Jam es. (Opposite (O p p o s ite S Stt James Jam es P Parish arish C Church) hurch)

Luxury 3 bed, 3. 5 bath bath vi Luxury 3.5 villa lla with with p pool ool llocated ocated iin n quite and breezy breezy Du rantâ&#x20AC;&#x2122;s over quite Durantâ&#x20AC;&#x2122;s overlooking looking gol golff ccourse. ourse. Single sstorey to r e y m e a s u r in g a Single measuring approx p p ro x 3 3,000sqft ,000sqfft

A large la r g e 3 b bed ed 2 2.5 .5 b bathroom athroom ttraditional raditional Ba Barbadian r b a d ia n coral coral st stone one h house, ouse, w with ith e entertainment n te r ta in m e n t p patio a tio a and nd gar age on 69, 957sqfft of lland. garage 69,957sqft and. S Stunning tunning vi views ews overlooking eastt ccoast. US$ $9 950,000 50,000 over looking tthe he eas oast. US

Ar Are e you you looking looking tto o sel sell? l? p ro p e rty w ith u s ccall all 262 8093 List L ist your your property with us

US US$1,300,000 $1,300,000

Ma Maynard ynard Ridge, Ridge, St Peter Peter LONG LONG T TERM ERM RENTAL RENTAL

Vue-Mont, Vue-Mont, St St Peter Peter FO FOR RS SALE ALE / LONG LONG RENTAL RENTAL

Gurland Sandy Stt Ja James FOR Gu rland Hse, Hse, S andy Lane, S mes FO R SALE SALE

Unfurnished 3 bed, 2-bath, Unfurnished 2-bath, open-plan open pen-plan des design ign hous house e and 1 bed, 1 1-bathroom -bathroom apar apartment tment al alll wi with th ce ceramic ramic ttiled iled ffloors, loors, in q quiet uiet n neighbourhood eighbourhood minutes from Port Charles. m inutes fr om beach beach and Po rt St C harles. US US$ $1, 1,250 250 (h (house) ouse) US US$ $500 5 (a (apt) pt) per per m mth th

Mo d e rn 3 b ed 2 b ath detached detached vi lla w ith Modern bed bath villa with Co mmunal pool, Communal pool, tennis tennis ccourt. ourt. Gym, Gym, stunning stunning co untry & sea country sea views. views. US$1,300 US$1,300 per per month m o n th

Great bath Gr eat property, property, great great price. price. This This 4 bed bed 4.5 4 .5 b a th detached luxury villa sits on acres off lland and detached lu xury vi lla si ts o n2a cres o and a nd has a G Gym, pool, beach cabana ym, games games room, room, salt salt p o o l, b each ca bana US$ $4 4,500,000 ,500,000 with golff ccourse views. ews. US with gol ourse and ssea ea vi

L Land and for for Sale Sale

Properties Properties for for Sale Sale

Long Long Term Term Rentals Rentals

Redmans Redmans Vi Village llage oppos opposite ite gas sstation, tation, m e s, 7,151sqft 7,151sqft St Ja James, US$144,000 Westport, 30, 000sqft, qui Westport, 30,000sqft, quiet et cul-decul-de-sac, sac, Jam es St James US US$300,000 $300,000 Westport, 30, 000sqft, quiet quiet cul-de-sac, Westport, 30,000sqft, cul-de-sac, Jam es St James US US$350,000 $350,000 Co ral Cliff, Cliff, 23,000sqft-overlooking 23,000sqft-over Coral overlooking w west est Co ast and and P SC, S P e te r, US $400,000 Coast PSC, Stt Peter, US$400,000 Va rious llots ots ffor or ssale ale iin n St Pe ter & St G e o rg e Various Peter George

Rendezvous Rendezvous Ri Ridge, dge, Block Block o off 4 x 2 bed bed apts apts Church US $450,000 Christ Christ Church US$450,000 rest, Block Block o bed apartment. apartment. Sunset Sunset C Crest, off 5 x 2 bed US $900,000 Jam es St James US$900,000 bath hous e wi th p ool & vviews ie w s Large 5 bed 5Large 5-bath house with pool US $1,600,000 Thom as St Thomas US$1,600,000 Westmoreland, 2 bed bed 2 .5-bath, vi ews Ro yal Westmoreland, Royal 2.5-bath, views US $ 1 ,2 0 0 ,0 0 0 St JJames am es US$1,200,000 Mo unt Standfast, Standfast, vi lla 4 bed, 4 bat h, vviews iews Mount villa bath, St JJames am es US $1,300, 00,000 US$1,300,000

Southern Southern Heights Heights s 2 bed 1 bath bath gr ground ound ffloor loor apt. apt. f/f, Ch Christ rist Ch Church u rc h US$650 US$650 Prospects, Prospects, 2 bed, 2. 2.5 5 bath bath co condo, ndo, shared shared pool, pool, ssea ea views, views, 1 m minute inute tto o beac beach, h, f/f. St James Jam es US$2,500 US$2,500 Sugar Sugar Hill, Hill, 2 bed, 2 bat bath, h, te tennis, nnis, co com mp pool, o o l, f/f, St St James Jam es US$3,500 US$3,500 Sandy Lane, 4 bed 4 bat m, p ool, ssea ea Sandy bath, h, Gy Gym, pool, views, am es US US$7,500 $ 7 ,5 0 0 views, cabana, cabana, f/f, St JJames Un/f Un/f = Unfurnished Unfurnished

F/f F/f = Fully Fully Furnished Furnished

Property Property Sales Sales / Holiday Holiday Re Rentals ntals / Long Term Term Rentals Rentals / Property Property Management Management / Appraisals Appraisals / Consultancy Consultancy

Of Office ffice :(+1 :(+1 2 246) 46) 432-7124 7124 Web: www. www.churchfieldrealestate.com c h u r c h fie ld r e a le s ta te .c o m

Cell :(+1 +1 246) 262-8093 Email: in info@churchfieldrealestate.com fo@churchfieldrealestate.com

Editor’s Comments During the year we collate a lot of information on other islands and particularly their real estate products for our annual publication, Caribbean Property Magazine. In the past few weeks this has been at the top of the priority list as it is always published in time for Easter. The process allows us to compare Barbados with other destinations and to see if our island is moving with the times and holding its own in a highly competitive market. The answer lies in the following pages, which feature some magnificent properties, spread across a wide spectrum of shapes, sizes, and design. There is little doubt that Barbados possesses some of the most prestigious properties in the region, but we also offer an extensive range of property to meet every pocket and lifestyle. The good news for buyers is that property prices have come down in recent times and most sales are negotiable. That has to be good for the industry as it adapts to a much-changed second home market. It is a new era in some respects but market trends dictate and local real estate has finally moved with the times. Please enjoy your copy of Barbados Property News now celebrating its 80th edition. Pamela Hiles Editor

On the cover: Sapphire Beach

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

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Create the home of your dreams.

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, 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.

ALTMAN R E A L

E S T A T E

Smart Buy; Superb Benefits... Sapphire Beach Returns are certainly satisfying at Sapphire Beach. Featuring modern, competitively priced, beachfront units, this condominium complex is a great investment opportunity; and has been demonstrating attractive returns for owners over the last 12 - 18 months. Located on the island’s vibrant South Coast, Sapphire Beach is a popular choice among visitors to the island. Its steady demand can be attributed to the global trend towards condominiums and villas as visitors seek to create a “home away from home” experience when they travel. To date rental demand for these homes has led to some owners realising up to 5% (per annum) returns on their property. Analysis compiled by Terra Caribbean, based on rental information from Bajan Services, showed that at 65% occupancy, a 3-bedroom unit with a purchase price of USD$ 930,000 (inclusive of fees and furnishings) generated a net annual cash return of USD$ 50,000. These returns were realised after only 18 months of marketing, and with signs pointing towards increased occupancy rates, this figure is expected to grow. What is remarkable about Sapphire Beach is that returns from shortterm rentals exceed those from long-term rentals. This is a highly compelling reason for foreign investors to purchase, as unused nights can be utilised to generate a healthy return. The outstanding interior

quality of each unit, easy access to one of the island’s finest beaches and close proximity to the hub of South Coast entertainment – St. Lawrence Gap – make Sapphire Beach highly appealing to both owners and rental prospects. Each unit enjoys spacious living and dining areas, fully equipped Italian kitchens with granite countertops, a breakfast bar, stainless steel appliances and marble bathroom vanities. Private covered terraces overlook two lagoon-styled swimming pools, each affording stunning seaside views and ample room for dining alfresco. As an income property, one of the great benefits of every apartment is the ability to isolate sections while simultaneously using each division for varying purposes. An owner can enjoy a section of his/her property while renting the second or third bedroom as a hotel room to a visitor, if he/she so desires. A separate entrance to each section negates the need for owner and visitors to share the same space. This impressive flexibility allows owners to earn revenue while enjoying the comforts of their property. Owners can choose to enjoy the fine luxury living that Sapphire Beach offers, maximise their investment through a managed rental programme or simply enjoy the best of both worlds. As holidaymakers continue to seek value for money in these difficult economic times and condominiums continue to offer an enhanced guest experience, Sapphire Beach remains a smart property purchase for any real estate investor. For more information about this property or to arrange a viewing please call 434-9000 or email: infobb@terracaribbean.com. Visit www.terracaribbean.com

Does Sports Tourism boost Barbados real estate sales? Clarence Hiles looks at the connectionâ&#x20AC;Ś

Statistics over the past decade have shown that there is a positive correlation between high tourism arrivals and real estate sales. Perhaps it is stating the obvious as the more visitors that come to Barbados then there is a higher likelihood some will fall in love with the island and purchase a property. Last year was a better year for the Barbados tourism industry with a general increase across virtually all the sectors except cruise ship arrivals. Overall tourism was up 7.2% and of some significance to the real estate industry, villa rentals grew by 8.5%. (BTA Figures) The skeptics will refer to a poor 2010 prior to last year, but revival has to start somewhere and these are positive results. But could they be better, and is there a lost opportunity within sports tourism that impacts negatively on real estate sales and rentals? Sports tourism is a huge industry in its own right, and interestingly the BTA sees one of the main threats to Barbados tourism this year as the London Olympics and the likelihood that more British tourists will stay in the UK to enjoy this historic spectacle. It remains to be seen, but the threat is real. Lifestyle living is not a modern phenomenon, but the range of lifestyles that have been embraced in modern times is certainly unprecedented. In Barbados these include homes on golf courses, in marina communities, beside polo fields, and of course on magnificent beachfront locations where watersports activities are unlimited. The marketing opportunities also allow leading local real estate firms to promote and sponsor sporting events that will align them with potential

sales and rentals opportunities. It seems a win-win situation to promote sports tourism, but unfortunately some of the product has lost its gloss, and the knock-on effect will dilute much of the overall benefit. We have some magnificent golf courses, marketed as world-class in many mediums, but the three best courses on the island are privately owned and not openly available to potential golf tourists and by association potential second-home purchasers. Are we not missing a huge opportunity to promote real estate sales? It is unlikely that cricket and hockey visitors will look for a second home close to the Kensington Oval or the Astroturf at Wildey, but in the past both venues have attracted large numbers of visitors and from their midst many have returned and some have even bought second homes or rented villas. At present touring cricket teams are priced out of top venues like the Kensington Oval or the 3Ws Oval at the University and another opportunity to provide a lifelong memory is lost. The Astroturf at Wildey has been out of operation for over a year needing vital maintenance. Modern hockey is played on Astroturf and visiting teams are aghast at being asked to play on poorly prepared and dangerous grass pitches. The flagship tournament, the Annual Bankâ&#x20AC;&#x2122;s International Festival, is on a sharp decline with many visiting teams unlikely to return because the pitches are such poor quality. Is this the way we promote sports tourism? Lifestyle living and sports tourism are closely aligned, but we seem to have lost the plot in recent times. Clarence Hiles is a Mortgage Broker with real estate, tourism, finance and sporting interests. He is the feature writer in Sporting Barbados and the Editor of Caribbean Property Magazine. He can be contacted at Clarence@caribbeanmortgages.com

Your mortgage has possibilities, whether you’re in the market for a new home or simply a renovation you can afford. Finance up to a maximum of 30 years Flexibility to meet when it’s convenient for you Variable rates or fixed rate options Property and related insurance products Online mortgage calculators

Sandra E. Padmore Home Financing Specialist Tel No.(246) 234-3815 E-mail: sandra.padmore@scotiabank.com

Call Sandra today! 6) 234-3815 *Trademark of The Bank of Nova Scotia. dra.padmore@scotiabank.com

Discover what’s possible

Barbados’ first MLS Have you signed on? As most of you are probably now aware, the Barbados Estate Agents and Valuers Association (BEAVA) will soon roll out Barbados’ first Multiple Listing System (MLS). In fact, many of the BEAVA-registered agents would have benefitted from one of four training sessions held this past January and two more ‘formal’ sessions are scheduled for April for remaining agents, stakeholders, and members of the public. We cannot stress enough, the importance of having every single agent on board the MLS train and it is with this in mind that we have once again decided to bring you more information in this publication on the system that is to benefit all involved.

- Offers Market Exposure for Sellers Multiple Listings create optimum market exposure for sellers, going of course beyond exclusive listings but even beyond what can be achieved through open listings with many different offices. By definition a Multiple Listing is open to all agents to sell (hence it is called “Multiple”). In terms of how this would be understood by a typical home seller in Barbados, what it means is that when he signs a Multiple Listing, he is effectively giving an exclusive listing to BEAVA’s entire real estate community.

- Allows Independent Agent Representation The MLS business model makes it possible for both the Seller and the Buyer to be represented throughout the entire selling process by a single agent whom they know and trust. This creates safety and security in the marketplace and facilitates negotiations leading to a sale.

- It will strengthen the role of BEAVA

The information below informs you of the invaluable benefits of this system. It is an edited excerpt from one of our MLS documents and which was prepared by Realty Servers Limited, the Canadian firm that shall be hosting our MLS server.

The MLS strengthens the role of the association that is providing the MLS service and in time it leads to 100% membership in that association by all real estate agents. This then improves the industry, as the association is in a stronger position to enforce behavior standards for all practicing agents and to protect their collective interests.

- MLS Brings Certainty of Commissions

- Marketplace Efficiency

Multiple Listings were invented to better secure the obligation to pay the commission. For this reason “Multiple Listings” are similar to “Exclusive Listings” in that they provide for the undisputed payment of the commission upon the sale of the property. The listing agent is not required to prove to the seller that he was the “procuring cause of sale”.

An MLS strongly encourages cooperation among all agents. This improves productivity for the real estate industry and reduces inefficient activities, redundancy and waste.

- It Provides for Marketplace Transparency An MLS creates a database of known sale prices, therefore true market values are better understood by Agents, Sellers and Buyers.

- It’s a great Convenience to Buyers By consolidating all properties for sale in one place (a national website) it becomes much easier and more convenient for buyers to shop for the ideal home.

- Comprehensive Reports The MLS database contains comprehensive and detailed records of listings and sales. With these records all forms of computer generated reports can be derived. These reports can identify marketplace trends and facilitate well informed decision making.

(B (BARBADOS) ARBADOS) LIMITED

Carter’s Grove Ticks All the Right Boxes We live in an era when virtually everyone dreams of owning their home. It is a product of the modern world where material benefits and quality of life far exceed what our predecessors had to endure in tougher times. We don’t need to apologize for it, we need to enjoy it and take advantage in a positive manner. This is just as important in Barbados as it is anywhere in the world. To own your home is a big achievement and while most people buy with the benefit of a mortgage, it is an investment into your future and can create a lifestyle that has many benefits.

Value for Money It may seem tough for first-time buyers to get on the property ladder, but in many cases it is a question of prioritizing your ambitions and setting plans in place to achieve them. Financial planning in your Fifties is just as important as in your Twenties so buying real estate is not governed by age. That said, many tenants look back over the years at the money they have spent paying rent and lament the missed opportunity. Quite often the cost to repay a mortgage would have been less than a monthly rent, and after 25 years you own your home, not fill the pockets of your landlord. Buying your home is not just buying a lifestyle it is an investment that will become a valuable asset once you have cleared your mortgage. Or if you decide to move to a bigger and better home, it will be collateral that you can sell and have a bigger deposit as you move up the market.

The Barbados Property Market Over the past decade the Barbados Property Market has reflected the general global scene with property prices steadily increasing until the 2008 economic meltdown and four years of softening values ever since. However, throughout the decade properties in the lower and middle market have maintained, and in some cases, increased their values,

largely because of supply and demand. In simple terms there are more people looking for property at purchase prices less than $400,000 than the supply available. That should mean immediate appreciation for people buying new property after construction.

Carter’s Grove Carter’s Grove ticks all the right boxes for home seekers in the $346,000 to $385,000 price range. This small development of ten homes is located in a quiet cul-de-sac just off Enterprise Main Road in Upper Carter’s Gap. It has a rural ambience and the ten three-bedroom detached units are all on separate individual freehold lots. Four properties are currently under construction and three have reached roof level. The design is open plan in concept to maximise approx. 1,100 sq ft of floor space and personal preferences can be customised. Space is available for a carport and lots vary in size from approx. 4,400 to 6,000 sq ft. A sales package is available and extras can be accommodated on request. Mortgage finance is also available from a number of lenders and free mortgage broker services are available from Caribbean Mortgage Services (Clarence@caribbeanmortgages.com) to ensure getting finance is not a problem. Purchasers can get up to 100% funding if they qualify. Carter’s Grove will appeal to a variety of people including first-time buyers, people who love the Enterprise/Atlantic Shores area and returning nationals looking to buy a piece of the rock. The purchase price includes buying the land and construction, both of which must be done at the same time. It is estimated the project will complete in late 2012 or early 2013. Located within two minutes drive from beautiful Miami Beach and Atlantic Shores and four minutes from Oistins fishing village, Carter’s Grove is also within easy access to all South Coast amenities and the Grantley Adams International Airport. It offers a wonderful opportunity to buy your own home and enjoy the rewards of a healthy lifestyle.

For more information call 230 9215 or email Clarence@caribbeanmortgages.com for a sales or mortgage package.

Altman Real Estate Company Inks Agreement with Global Real Estate Company A local real estate group with regional reach has formed a partnership with one of the world’s leading real estate brands, Savills plc. Altman Real Estate Group, a leader in luxury real estate for more than 30 years, is now an international associate of Savills. The global real estate services provider has a network of more than 200 offices and maintains a significant presence in Europe, Asia Pacific, Africa and the Americas. According to Paul Altman, Managing Director of the Group (pictured left), the new relationship will see Altman, a

Real Estate News

leader in luxury Caribbean real estate, aligned with the largest publicly owned real estate company in the UK. “Our association with Savills brings exciting changes to the fore for our Real Estate, Villa Rentals and Property Consultancy businesses. Having signed the agreement for Barbados, Canouan, Grenada and St. Lucia, we stand to improve our positioning within local and regional markets,” he said. Altman also noted the formation of a Savills Caribbean, Central and South America Desk in its London office, headed by James Burdess— a Caribbean real estate expert with more than a decade of experience. As an international associate of Savills, the Altman Real Estate Group participated in that company’s first-ever Caribbean Property Exhibition in London from November 2 to 3, 2011. The Exhibition attracted a cadre of property owners, vendors and stakeholders in the real estate industry from across the Caribbean and the United Kingdom. Another such event is being planned for Barbados in April, with the aim of attracting an even more targeted group of buyers, sellers and other key people within the local real estate industry.

W G NOLLIN SE

Carter’s Grove Carter’s Grove at Enterprise, just a few minutes from Oistins New ten home development in quiet cul-de-sac Three bedroom detached properties

Prices starting at BDS$ 346,000 Plots 4,000 to 6,000 sq ft. Special mortgage packages available

Four properties already under construction, two reserved and four available to purchase.

For more information call 230 9215

Terra Caribbean releases definitive property guide A free comprehensive source of credible information on the Barbados real estate market is now available. The Red Book® 2012 provides current and reliable information on real estate in Barbados, showcasing a broad spectrum of residential, commercial and luxury properties available on the local market. The property guide, produced by local real estate Managing Director of Terra Caribbean firm Terra Caribbean, is now in its Andrew Mallalieu (left) and Hayden fifth year. Hutton “Since the original publication professionals across the real estate, legal and finance industries have come to recognise The Red Book as the definitive source for credible industry data,” said Managing Director of Terra Caribbean, Andrew Mallalieu. “Each year we focus on improving the content and presentation of information. This year we’ve added the Luxury Homes section which highlights properties at the highest end of the market,” he said. The Red Book also features in depth articles from knowledgeable and experienced professionals in the real estate industry. This section of the guide, entitled “The Pink Pages” provides useful information on topics such as law, finance, insurance, sustainability and more, for those

Real Estate News

interested in expanding their knowledge and understanding of real estate. Featured writers in The Pink Pages this year include commercial industry stalwart Richard Edghill of Edghill Associates who speaks about the changing real estate landscape in Barbados and respected attorney Michael Alleyne, partner at Barbadian law firm George Walton Payne & Co. who discusses compulsory acquisition of property. Director of Brokerage and Advisory Services at Terra Caribbean, Hayden Hutton, provides a comparative analysis of the condominium market in Barbados while Managing Director Andrew Mallalieu opens The Pink Pages with an insightful update on the real estate market highlighting emerging trends. Anyone who picks up The Red Book quickly gets a clear, well-informed overview of what’s happening in the Barbados real estate market. "The Red Book is a reflection of Terra Caribbean’s mission to provide the best information to assist in making informed decisions related to property in Barbados,” said Andrew. For more information visit www.terracaribbean.com

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Hurricane, Security & Sun Protection

CIBC FirstCaribbean at Sunset Crest - an innovative new service model FirstCaribbean ushered in a new era in banking on the West Coast of Barbados, with the opening of its retrofitted branch at Sunset Crest on Monday March 19. Managing Director and Senior Coverage Officer, Daniel Farmer, and Branch Manager, Erica NurseConnell, were both on hand to welcome the first clients to the location, which has been redesigned Branch Manager, Erica Nursein line with the cutting-edge branch Connell, assisting visitors at the newly prototype unveiled in Wildey last renovated CIBC FirstCaribbean year. Sunset Crest Branch on the island’s CIBC FirstCaribbean’s Sunset west coast. Crest location now boasts a number of self-serve facilities including multiple Instant Teller™ machines and an internet banking kiosk. Access to the network of tellers is available through a ticketed queuing system with ample seating. Wealth management services will be provided in an upscale lounge-type environment featuring fully-outfitted meeting rooms. Mr. Farmer described the new banking model as another milestone along the journey the bank has begun to revolutionize the banking experience of its clients. “Our main focus is connecting with our clients and strengthening our relationships with them. Their feedback will help us to tailor the right products and services that can help each of them to achieve what matters to them. “As our CEO, Rik Parkhill, has promised, we will keep the lines of communication open through traditional means, as well as new channels,

Barbadians and visitors alike now enjoy multiple Instant Tellers TM, cash counting machines and ticketed queuing with ample seating at the redesigned Sunset Crest branch CIBC FirstCaribbean.

such as our recently-established presence on twitter. The relaxed and welcoming atmosphere of our new-look branch will provide just the right environment for that communication with our clients to continue.” He added that beyond the impressive architecture, cutting-edge technology and sophisticated ambience, all clients can look forward to a high quality of service that can help them to achieve their financial goals.

Lifestyle images, a self-serve retail banking area and a no-line, ticketed queuing system, are among the hallmarks of the ultra-modern branch facilities of CIBC FirstCaribbean’s Sunset Crest branch.

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