BARBADOS DEVELOPMENT OPPORTUNITY
MULLINS RIDGE
5.2 ACRE
WEST COAST SITE
ST. PETER
The Site
The Opportunity About Barbados Looking Ahead
The Location
Property Description
The Site
Nearby Locations
Development Opportunities
Bid Process Contact
THE OPPORTUNITY
The subject site occupies 5.2 acres of land in a prime location on the west coast of Barbados.
• The site is elevated and has unrestricted views of the western seascape.
• Within walking distance to Mullins Beach.
• Suitable for residential development.
• The property is being sold by a bid process which concludes on February 7th 2025.
The Site
ABOUT BARBADOS
Situated in the heart of the Caribbean, Barbados spans 166 square miles of breathtaking landscapes, vibrant culture, and warm hospitality. Whether you’re exploring the lush botanical gardens, lounging on pristine beaches, or enjoying thrilling water sports like surfing and snorkeling, Barbados o ers an array of leisure and recreational activities that cater to every lifestyle.
Investing In Barbados
The Barbados Dollar (BBD) is securely pegged to the US dollar at a rate of 2:1, giving international buyers a clear understanding of the currency exchange and value. For buyers from the UK, the favorable exchange rate of the Barbadian Dollar to the Pound provides further incentive, making luxury properties here even more appealing when compared to other prime Caribbean destinations.
The Real Estate Market in Barbados: Performance & Growth
The real estate market has seen impressive performance in recent years, particularly in premium locations like the island's famous west coast, also known as the Platinum Coast. This region boasts some of
the most luxurious villas and beachfront properties in the Caribbean, attracting high-net-worth buyers from all over the world.
Demand for properties, especially along this Platinum coast, continues to rise due to its combination of tropical tranquility and easy accessibility to world-class amenities, golf courses, fine dining, and high-end shopping. The rental market also thrives, o ering investors lucrative short-term and long-term rental potential. With ongoing infrastructure development and government support for foreign investment, now is an ideal time to secure your place in this flourishing market.
Mullins Ridge
Eastry Gardens
Speightstown
LOOKING AHEAD
The West Coast enjoys sustained foreign demand for luxury residential real estate. The foreign market has been particularly strong over the past two years and active demand or interest from qualified purchasers in the foreign luxury segment soared to a ten-year high. The outlook for the upcoming winter season is positive with significant increases in airlift from the key UK market bringing record levels of UK visitors to the island. US visitors will also have a boost with the return of American Airlines flights direct from New York and in addition, Philadelphia.
In recent times, there have been several resales of villas including the sale of one of the most significant properties on the island. Development sales have also been strong with the redevelopment at Apes Hill, Royal Westmoreland and Westmoreland Hills in recent years. Other smaller developments close to west coast beaches, and along the east side of Highway 1, have also sold out o -plan.
THE LOCATION
Situated in Mullins, St. Peter, this property boasts a prime location on Barbados’ West Coast, renowned for its iconic high-value homes and luxury hotels. The property o ers convenient access to fine dining options, including The Fish Pot, Lone Star, Sea Shed and Pier One at Port St. Charles. It is just steps away from beautiful beaches, including the pristine Mullins Beach which is approximately half a mile from the site.
With the esteemed Singita Spa in close proximity, Mullins Ridge seamlessly blends stunning vistas with easy access to Barbados' finest beaches, restaurants, and amenities, making it the ideal location for development.
MULLINS RIDGE
5 minutes to Speightstown
2 minutes drive to the beach
5 minutes to golf
ST. LUCY
ST. PETER
ST. MICHAEL
ST. THOMAS
ST. GEORGE
ST. JAMES
ST. JOHN
ST. JOSEPH
ST. ANDREW
CHRIST CHURCH
ST. PHILIP
Speightstown
Holetown
Bridgetown
Oistins
Grantley Adams Intl. Airport
PROPERTY DESCRIPTION
Formerly the Eastry Hotel site, this elevated parcel is abutting two residential neighbourhoods to the West and the South. The western boundary is elevated above the Mullins Gardens Development, and extends along a cli side, providing unrestricted views of the west coast. The site encompasses approximately 500 feet of ridge frontage. Some of the land extends below the edge of the cli . Both the North and East boundaries abut open undeveloped lands.
THE SITE
The site, spanning approximately 5.2 acres of undeveloped land, is relatively flat and a slightly irregular shape. With previous residential approval, the Eastry Hotel once operated on the property. In 2009, a new application was submitted for subdividing the land for residential development, however the project was never initiated.
The parcel is easily accessible via Mullins Main Road, which connects to Highway 1. Vehicular access is currently provided via a shared private road, with Eastry Gardens development holding a right of way. Additionally, there is a narrow footpath extending to the southwest boundary of the site, providing a secondary access point o the Mullins Road.
* There is an additional copy of the site plan which illustrates two minor encroachments of a neighbouring fence on a small area, which is in the process of being resolved. Further details on this can be provided by Terra Caribbean
NEARBY LOCATIONS
LUXURY ACCOMMODATIONS
Surrounded by some of the island’s most renowned luxury hotels and resorts, just minutes away, you'll find:
Sandy Lane - Synonymous with luxury, this iconic resort boasts world-class golf courses, a renowned spa, and fine dining, making it a favourite for discerning travelers.
Port St. Charles - A luxury marina resort located on the stunning northwest coast of Barbados. It features a picturesque setting with beautifully designed villas overlooking a serene lagoon/marina. The resort o ers a range of amenities, including a beach club, fine dining, and water sports.
Saint Peter’s Bay - O ering refined beachfront villas, Saint Peter’s Bay combines Caribbean charm with modern amenities, ideal for families and those seeking a relaxed yet upscale escape.
Royal Westmoreland - A prestigious gated community, o ering luxurious villas, a championship golf course, private beach club, fine dining, and world-class amenities. With 24-hour security and stunning tropical landscapes, it provides an exclusive lifestyle on Barbados' sought-after west coast.
With these prestigious resorts and others just a short drive from Mullins Ridge, the property o ers an unparalleled location close to the finest Barbados has to o er.
DEVELOPMENT OPPORTUNITIES
One of the few remaining West Coast sites of this scale and proximity to pristine beaches and amenities.
This site o ers attractive development opportunities. There is great potential for further subdivision, allowing development of luxury townhouses, standalone villas, or a combination of both.
Recent activity in the market demonstrates a strong demand for luxury near-beach homes along the west coast.
The Site
BID PROCESS
December 4th 2024 - Launch
Register interest with Terra Caribbean, sign a confidentiality agreement and review the additional property information, including the relevant Bid Documents.
Terra Caribbean will facilitate site tours for registered parties.
Registered parties will be given the opportunity throughout the sales process to query any aspect of the o ering and to complete any reasonable due diligence required.
February 7th 2025 - Bid Deadline
The deadline for all bids to be submitted is February 7th 2025.
All bids should be submitted in accordance with the Bid Documents. A deposit of BDS$100,000 will be required with each bid.
There is no price guide for bids.
February 8th to 21st 2025 - Bid Selection Process
The bid selection process will be from February 8th to February 21st 2025.
The successful bidder will be advised in writing within seven (7) days of the maturity of the Bid Process.
The successful bidder will have two weeks from this date to exchange the Purchase and Sale Agreement and pay the 10% of the agreed purchase price. Completion of the sale will be set to take place no later than April 30th 2025.
NOTE: All parties should register with Terra Caribbean to receive the full details of the sales process.
The Terra Group is an established and reputable real estate leader with local and regional o ces across the Caribbean. Comprising, Terra Caribbean, Terra Luxury, and Blue Sky Luxury, the group o ers clients a comprehensive suite of real estate and holiday rental services. With a fully integrated approach to real estate and the largest combined portfolio of properties in Barbados, more clients trust the Terra Group to expertly handle and guide them in the sale, purchase, and rental of Caribbean properties.
KEY CONTACTS
Additional information is available on request. Site visits can be arranged on request.
Hayden Hutton
M +1 (246) 266-2266
E: hayden.hutton@terracaribbean.com
Kristina Evelyn
T: +1 (246) 826-0663
E: kristina.evelyn@terracaribbean.com
Dominique Harris
T: +1 (246) 266-3771
E: dominique.harris@terracaribbean.com