est. 2007

Barbados Underground

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South Coast Of Barbados Catches The West Coast Fever

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Realtor's Website where the Caribbee property is being advertised.

Offering you the chance to own a piece of prime South Coast beachfront property in Barbados – Caribbee Hotel and adjoining lands are being sold as commercial property. Approximately 46,000 sq. ft. $25,000,000 – Barbados Advocate Saturday 23rd August 2008, page 25.

So I then went to the website of the real estate agent mentioned. Sure enough, the same description – Sale Price $12,500,000 with underneath ‘rates are quoted in U.S. dollars’

BDS$543 per square foot.

This is perhaps a classic example of why we have lost 29 hotels over the past fifteen years. Of course, I could not blame the owners. They see the opportunity of realising a massive profit where some buyers appear to be willing (and able) to pay almost any price.

But where is our long-term tourism future heading?

Adrian Loveridge

16 responses to “South Coast Of Barbados Catches The West Coast Fever”

  1. CENTIPEDE Avatar
    CENTIPEDE

    What’s the problem? Please explain it for me. Thanks.

  2. David Avatar
    David

    @CENTIPEDE

    Not sure if you read Adrian L’s submission carefully his last sentence sums up the concern for Barbadians ” But where is our long-term tourism future heading?”

    It the property value starts to move upwards with the leap suggested by the Caribbee sale what do you think will happen?

    THINK BIG!

  3. The scout Avatar
    The scout

    How can a government stop such a sale if there is one? When government got involved in Gems, it became an still is a big political issue. My understanding is that this was to come to the assistance of small hotels and help them steady their operations. It’s funny, you’re dammed if you do and dammed if you don’t.

  4. Waterboy Avatar
    Waterboy

    Scout, GEMS, far from assisting small hotels offered predatory pricing that actually hurt the smaller hotels. GEMS never turned a profit in fact all it did was bleed and continue to bleed the taxpayers and they do not even publish up to date financial ststements.

  5. CENTIPEDE Avatar
    CENTIPEDE

    Thanks for the explanation David…

    “Where is our long-term tourism future heading?” I beg to suggest NOBODY has the answer to that question. We are living in an environment which changes faster from day to day than a bullet from an AK-47.

    By the way Dave … if you were offered BDS$543 per square foot for your property … would you sell?

  6. Bush tea Avatar
    Bush tea

    David,
    I feel that the problems lies in a lack of vision.

    By that I mean, lack of a long term plan of what we want for this country in the next 30 years.

    If you don’t know where you want to go, then there is no right or wrong direction, however, if we had a sensible national strategic plan in place, then it would be clear where we need to go, when we are making wise decisions and when foolishness is about to happen.

    …as you know, one of Bush tea’s CORE strategic ideals for this country is that ALL BEACHES SHOULD BE assessable from the nearest coastal road to all residents and visitors to this island.

    The ONLY exceptions being public hotels and tourism plant and private operations WHICH PAY TAXES COMMENSURATE with the NATIONAL value placed on obstructing such windows to the sea….

    Anytime that Bush tea becomes Prime Minister, job number 1 will be the national strategic plan and then this will become law within the first year.

    PDC – don’t even bother to respond cause Bush tea will be raising REAL taxes from those who feel important enough to live on Barbados’s best national asset. LOL.

  7. David Avatar
    David

    @CENTIPEDE
    We accept that this is a rhetorical question. John Citizen can’t be faulted if he or she makes a decision in their best interest. it brings into focus the point which Bt has made, land in Barbados i.e. 166 Square Miles must be declared a national resource. The current free for all policy that land must fetch its highest economic value is an unsustainable position, certainly from a social perspective.

    We are on board with the idea that a national plan must be put put it place that would protect the interest of Barbados and not the interests of Altman, Parravicino, Bjerkham and the others who benefit from the enormous commissions on the property deals. What has happened in the past is unfortunate but we must slam the door on the pass and establish a more sensible land resource policy in Barbados. So far the current government has been saying the right things but we have not seen any change to the status quo.

  8. CENTIPEDE Avatar
    CENTIPEDE

    da cocoa tea
    is a poison to me
    every time I drink it
    I don’t know where I be…. LOL 🙂

    I would agree that all BDS beaches should be accessible to Bajans, altho I must observe that a majority of Bajans don’t seem too interested in the beach/sea. What a shame. If you went to Hawaii (for example) and see the highly organized beach activities there… from canoe racing back up… it would surely make you wonder why sea sports are not popular here.

    But on the other matter. I would also agree some long-range ‘plan’ is indeed a good idea, however with the world changing as fast as it is, how realistically effective can a long-term plan be?

  9. CENTIPEDE Avatar
    CENTIPEDE

    David @ BU.com “we must slam the door on the past and establish a more sensible land resource policy in Barbados.”

    OK – here’s a deviation that may carry this thread in a new direction and maybe we’ll see 1000 posts…. none of which I will reply to….. 🙂

    “we must slam the door on the past and stop this constant carping about ‘slavery’ which does nothing more that anchor us in yesterday and stop us from looking forward.”

  10. Adrian Loveridge Avatar
    Adrian Loveridge

    Waterboy,

    Absolutely spot on. We were (and still are) victims of that predatory pricing and still Hotels and Resorts Ltd have not made their accounts available since 2001!

    Losses have been quoted at $200 million plus.

    Imagine if that monies had been spent on creative marketing or hotel plant improvement?

  11. Avatar
    Anonymous

    i couldnt care less what they sell it for , it just means my land on the beachfront will be worth more thats all , not a bad thing

  12. David Avatar
    David

    Hope BWWR is watching this unfolding situation. If this property is sold for this hideous value advertised it should make us understand why Allard may want to get his hands on the beach from property in Maxwell.

  13. me Avatar
    me

    Are we a capitalist country or are we communist…

    I think like all things there willl come a ponit where the prices will stabilise. My only concern is that the government( hence the tax payers) should be receiving a higher percentage of these types of sales.

  14. David Avatar
    David

    @me

    We may practice some things to be found in a Capitalist System but Barbados cannot truly be Capitalist. We have always been under the impression that our system is mixed. What makes Barbados very different to a Capitalist System is the almost 100% dependence on government to fuel growth in our economy.

    Do you think property prices will stabilize on their own? In N. America and elsewhere property values go up and down(cyclical). Have you ever observed property prices sliding downwards, ever? Even in the early 90’s when people were losing their homes we had cash rich Barbadians and Foreigners who found creative ways to buy-up property.

    Barbados has to create its own model which is the point we think Bush tea has been harping on. If there is no intervention by government in the management of our precious real estate resource it will have social and economic implications. History is there to show that the rich will move on when things sour and leave a shell behind.

    Sustainability should be the buzz word!

  15. Sargeant Avatar
    Sargeant

    Sorry to interrupt the thread

    For anyone in B’dos via Zoom

    http://www.thestar.com/Business/article/487096

  16. adrian loveridge

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