Whaloss! Barbados Land At BDS$543 Per Square Foot!

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.
$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

BFP Comments…

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!

See: Barbados Land Sold At 16 Cents Per Square Foot! Keltruth Blog Exposes Land Fraud In Barbados

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16 Comments

Filed under Barbados, Barbados Tourism, Offshore Investments, Real Estate

16 responses to “Whaloss! Barbados Land At BDS$543 Per Square Foot!

  1. Hants

    For the sake of clarity, is the Caribee Hotel still a building?

    Would part of the price be for an existing building part of which is currently a restaurant?

    Anyway at that price expect more Condos.

    I say we need to build hotels on an offshore island with roads built for a Formula 1 racetrack.

  2. CENTIPEDE

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

    Adrian Loverage … if someone offered you BDS$543 per square foot, would you sell?

  3. CENTIPEDE

    Slight correction: Adrian Loverage … if someone offered you BDS$543 per square foot for your property, would you sell?

  4. Beefcake

    As far as I’m aware the building structure for Caribbee is still there. You need to estimate a price for the building itself before you can calculate the land price.

    Of course, asking prices and selling prices aren’t the same.

    One problem that the said property has is parking, and it will affect greatly any purchasing decision. In no way would Caribbee or Ocean View be allowed to be reconstructed in the exact same way under today’s standards.

    Another thing to consider is the following: if this is such a great opportunity, then why isn’t the current owner building the condos themselves or as a joint venture?

  5. nutcracker

    PERMISSION HAS ALREADY BEING GRANTED TO REBUILD THE CARIBEE HOTEL SAME ROAD EDGE AND EVEN FURTHER IN THE WATER PERMISSION WAS GRANTED BY OWEN ARTHUR

  6. John

    Beefcake
    August 24, 2008 at 12:44 pm

    In no way would Caribbee or Ocean View be allowed to be reconstructed in the exact same way under today’s standards.
    +++++++++++++++++++++++++++++++++

    If somebody had the money to buy the property you can be sure they have the money to reconstruct as and how they please, …… standards or no standards.

    This is Barbados.

    The one thing I will always remember about the Caribbee and Ocean View Hotels is the absolute ingenuity of Julian Hunte in being able to communicate his thoughts and feelings using the 8 foot plywood fence as a canvass for his message!!!

    … simply brilliant!!!

    He got in trouble with the Police (and rightly so) and had to go and paint it out but I remain in awe of that simple brilliant act that was based on his beliefs …. and conviction!!

    I wish I had kept the picture.

  7. Hants

    “Reclaimed beach” will be added to property just like the “reclaimed beach” at chefette holetown.

    Expect headland extensions and offshore islands in the future. Nuff new beach.

  8. 329.18

    Caribee Hotel still stands, but it could just as well come down:
    it’s too old, as it is.
    ———-
    Il Forno is the restaurant on the ground floor overlooking the boardwalk construction site, but fortunately most of that disappears at night.

    Il Forno is not bad but not great either.
    Nicer ambiance than fare.

    ——————
    The Asking Price is rarely the agreed price.
    Dey tryin a ting,nah!

    It’s a narrow tapering piece of rocky scrubland
    not worth anything like what they think it is.
    They’re merely hoping to get a West Coast price
    for a scrap of South Coast cliffside.
    Dey tryin a ting, nah!

  9. Ivan Taylor

    The land by the old Ocean View should be donated by the Haloute family to the people of Barbados, first it was a hotel of such history and such a landmark in Barbados, considering how much money the Haloute family have made here its time to give something back that will last forever
    OCEAN VIEW LAND for the People of Barbados
    TAKE DOWN the plywood barrier

  10. Anonymous

    The way for this government to institute a de facto moratorium on the blockage of sea windows is to increase the seaside setback from 10m to 20m.

    This would be much cheaper for them (and by extension, us) than expropriation.

    There is a statute of limitations on Town Planning permissions – they lapse after 4 years (I think). An ‘about face’ from the government after the lapse would not require compensation.

    The owners of Ocean View/Caribee may realise their permission will soon be up – with a reduced chance of renewal given the new political landscape …

  11. yatinkiteasy

    Simply not worth it…will never sell at that price..perhaps not even at half that price.!
    No parking…a 50 year plus old building….questionable rights to rebuilding.(particularly what was Ocean View)Me thinks de owners sees de writing on de wall and trying to cash out now…before de real estate crash comes…which it is . Same thing at Holetown Cheffette…also Haloute…imagine the family dinner conversations!

  12. 329.18

    The land of the old Ocean View should be donated by the Halout family to the people of Barbados,
    as a window to the sea
    with a covenant on it for all time henceforth!

    OCEAN VIEW land for the People of Barbados
    -and for the tourisses to see the sea

    TAKE DOWN the disgusting selfish plywood barrier that has deliberately blocked our view, like dog in the manger!
    Cannot believe it was ever erected in the first place!
    Sure evidence Barbados is UNreal!

  13. kate

    … and here was I waiting for the new Ocean View hotel “projecting” over the ocean/boardwalk – which I assumed had been conceptualised to allow just such a venture! Have you heard any outcries against this (boardwalk) monumental waste of the taxpayers’ money? I grew up on the south coast and we have always been able to walk from Accra to the Hilton … sometimes you get more wet than others but it’s still possible.

  14. liz

    Is the land that has been reclaimed, between the boardwalk and the Ocean View, part of the “new” Caribee property?
    If it is, how much will the owners have to pay the taxpayers for this sizeable increase to their property.

  15. Geo.

    I may be wrong
    but I believe that all shoreline properties are described(and measured?)
    down to the hi-water mark,
    there being no other logical geographical boundary to call a halt to it.

    Increase the land to the seaward side, and your land has automagically increased..
    down to the new hi-water mark.

    Properties fringing Carlisle Bay have increased phenomenally over the last three decades,
    thanks to B’dos.Hilton having altered the ‘profile’ of Needhams Point drastically,
    and thereby also altered the eddy pattern that comes around that point,
    swirling as it does into Carlisle Bay.

    This swirling pattern is well established in Oceanographic science,
    as also occurs around North Point,
    into the vicinity of Maycocks and Harrisons Pt.
    ———————————

    Question: will Government
    (who recently created/reclaimed Boardwalk Territory along the SW coast)
    claim that new territory for its own?

    Or will the matter slide(as usual) and allow present landowners to bring in their surveyors
    and draw up freshly-revised plans
    to be lodged with Town and Country Planning
    showing “new dimensions” Southward?

  16. Rumplestilskin

    All fairly irrelevant now.

    With the financial crisis in North America and now having real effect in the UK, France and Germany, it is doubtful that there will be any takers for such properties for a while, nor any further significant developments built for a few years.

    The gravy train is coming into the station for a rest.

    It is not pretty and will get worse.

    Heard the newsreader this evening rabbiti9ng some text that ‘there are some signs of improvement’ in the US economy.

    Quite amusing if it was not so sad.

    Things are far from bottom and the next few years will be edgy indeed.

    Ah well.

    Inshallah.

    Peace.