Friday, May 1, 2009

What A Difference A Year Makes

The rumor mill is swirling again around the cash-strapped, stalled and/or abandoned Banyan Plantation golf and villa project in Black Bess, St. Peter and it’s developer, Bacassa Developments (Barbados) Ltd. Only a year ago Bacassa was still boasting that it has secured premium beachfrontage on the prestigious Platinum/West Coast on which it was to construct a top-of-the-line beach club for the “uber-rich and uber-cool.” Well, something happened on the way to Coolville – a recession. Now the West Coast Blog has learned that Bacassa has sold the Turtle Nest property on Mullins Beach, not to Royal Westmoreland next door as originally rumored for expansion of RWM’s own beach club, but to a new duo of developers looking to build more condos. Apparently, RWM could not or would not come up with the rumored US $9M asking price.

So, it looks like Bacassa got some cash to service its debts on Battaleys Mews, Haymans and Porters but apparently not enough to do anything with their dream property - Black Bess. For that to happen the West Coast Blog has learned that Bacassa is hoping to secure massive concessions from government including bringing into the island cheap foreign (re: slave) labor to construct the luxury villas for the rich; and that they are musing (re: threatening) moving the project to St. Lucia if those concessions are not forthcoming. This week the Tourism Minister was heard making noises about Barbados needing more golf courses, and given the fact that nothing is happening at other large tourism related developments on the island, including Four Seasons, Bacassa could still get its way.

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1 comment:

  1. Condominiums are planned to be built on the beachfront property just south of mullins beach bar, they also bought the next 2 properties to the south as well which is why there will be condos going up, this is nothing new, has been known for about 4 months now from when i understood it.

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