The highly debated multi-million dollar Pierhead project, slated for the heart of Bridgetown, is receiving further review and work from the firm that owns the property.
Neal and Massy, one of the Caribbean’s largest and most successful conglomerates, has put a consultant to work and a decision will soon be made on whether the project should be done jointly with the Barbados government or if should be done independently.
This is the word from Gervase Warner, President and Group CEO of Neal and Massy. Neal and Massy took majority ownership of Barbados’ largest conglomerate in 2007, Barbados Shipping and Trading (BS&T).
The Pierhead Project has been rekindled since Neal & Massy’s acquisition of BS&T. In order to identify options for a new Neal & Massy/BS&T led initiative, an adviser has been retained to interact with various consulting parties, as well as the Barbados Government, to prepare a high-level plan.
Pending the result of the consultation and the development of the concept plan, decisions on the next step, whether to work independently or jointly with the Barbados Government, will be taken.
Near the end of 2009, renowned realtor Paul Altman gave an update on the project and said: “The Pierhead project must get started – this project on its own has the ability to kick-start the entire redevelopment of the town and especially to wake up development of the entire Carlisle Bay area. It must get started!”
The well-known property developer explains that if it had been implemented ten years ago, it would have been completed today.
At the time, Altman had also expressed the view that the master plan was prepared about thirteen years ago. He also believes that the old buildings standing along the Pierhead are “begging to be rescued” and the start-up funding required is “totally affordable”.
The once popular Escape Hotel and Spa on the Platinum Coast of Barbados is being transformed to be home to the upscale Waves Resort, which is set for opening in February 2010.
One of the exciting features of the new resort which will complement the already multi-million dollar valued west coast of the island is the luxury Virgin Lounge, which is popular among jet-setters and top international business executives.
With $14 million in investment, the property is set to bring 70 rooms and suites, three restaurants, four bars as well a Spa with eight treatment rooms, a sauna and steam room and two outdoor massage pavilions and about 11 to 13 suites. This should be a welcomed addition to the island’s tourism product.
Since being closed in mid-2009, the hotel has been under construction with major upgrades to the west coast property.
The four-star luxury property will also bring the all-inclusive service as a main feature in its product offering. Moreover, the partnership which has been sealed with Virgin Holidays as part of a twelve-year contract is a major stepping stone for the property.
The new Waves Resort will become the second such resort world-wide to feature a Virgin Lounge, where guests will have a full-service leisure center in the heart of the resort.
The stylish luxury lounge will also offer Virgin Holidays customers a space of convenience and relaxation. With all of today’s modern technological conveniences, the new property is set to be a major attraction to the already bustling west coast.
The west coast of Barbados has once again revealed another multi-million dollar property development that has already received international acclaim.
Portico a condominium development that sits on the Platinum Coast of Barbados officially opened its doors at Prospect St. James on February 1st 2010.
Portico Barbados was recently awarded the prestigious 2009 Best International Apartment by International Property Awards in association with CNBC Arabia, as well as two five star awards for Best Apartment in the Caribbean and Best Development on the Caribbean.
In 2008, the property was also honoured with three prestigious five-star CNBC Americas Property Awards in 2008 for Best Architecture, Best Development and Best Apartment (Penthouse) in the Caribbean; Portico is distinguished by its outstanding finishes.
Speaking to local media Chris Salt, CEO and Chairman of Aberconi Ltd, owners of the project, explained that there is continuing investor interest in Barbados.
The property CEO noted that the west coast property has been gathering international attention. He said, “Portico is getting that exposure, we have journalists coming in from the Guardian (Newspaper), London, New York Times which want to do a feature on us. I will be telling those people about the positive experience that I have had in Barbados”
While highlighting the fact that the project was started in 2007, he explained that the newly completed property has 21st century technology, the obvious being high speed Internet, cinema surround sound, GPS phone system but the technical team has surpassed this with a card that knows what floor you are going to and also you can control your lights etc from any where in the world by using your cell phone,” he stated.
He added, “the project is a true testament of Barbadian talent because even though we have brought in materials from literally all over the world, the Portico project was conceptualised, designed and engineered and constructed principally by people working for Barbadian companies”.
He maintained that Barbados now has a world beating product which we can all be proud of. It also demonstrated clearly that this world beating professional expertise is already right here on the island.
Salt also told the local media that his team has two other projects in the pipeline and they will definitely again be looking no further than Barbados when assembling the speciality teams for these”.
The new condo development will feature 10 ultra luxurious 3,500 sq. ft. penthouse and garden apartments, the price range for the units are between from BDS $9 to over 12 million.
