At first I thought it must be a misprint!
‘Caribbee Beach Hotel and land, Hastings, Christ Church’.
‘Offering you the chance to own a piece of prime South Coast beachfront property in Barbados’
‘Caribbee Hotel and adjoining land are being sold as commercial property’.
‘Approximately 46,000 sq. ft.
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?
BDS$543 per square foot sure puts a new perspective on the lands sold by the Board of Directors of the Kingsland Corporation for 16 cents a square foot!