Brochure

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OFFERING
The Treasure Cay Resort
Marina & Golf Course
Development Properties
Treasure Cay Riviera, Abaco, Bahamas
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Treasure Cay Riviera
Table of Contents
Treasure Cay General Information
1
Map of Abaco
2
Map of Treasure Cay
3
Treasure Cay Ltd. Properties
Plot Map of Treasure Cay
Additional Plot Maps
4-5
6
7-11
Hotel/Resort
12-18
Marina & Administration
19-20
Restaurants & Bars
21-23
Aerial Photos of Hotel/Restaurant/Marina
24
Rental Shops and Shopping Centre
25
Aerial Photo of Clipper Cay
26
Maintenance Facility
27
Hotel Sites
28, 31
Golf Course
29-30
Comparative Development Sales
32
Aerial Photo of Treasure Cay (Waterfront Lots Indicated)
33
Aerial Photos of Columbus Cay
34-35
“Investing: Why the Bahamas”
36-39
Additional Contacts and References
This prospectus has been prepared for your reference by:
40-41
Treasure Cay: General Information
Boasting one of the top ten most beautiful beaches in the world,
this is a perfect family spot for all ages. Treasure Cay offers a
variety of activities including water sports, deep water sports
fishing, popular bone fishing, tennis courts or a round of golf on
the challenging 18-hole championship golf course. One of the
first loyalist settlements in Abaco was at Carleton Point, the most
northern point of Treasure Cay Beach.
The community name “Treasure Cay” is somewhat of a
misnomer, as Treasure Cay is in fact a long, thin peninsula
attached to the Abaco mainland and completely accessible by
vehicle. The gated resort community of Treasure Cay is the
second largest town in Abaco and the most relaxed one. The
majority of the town population consists of retired individuals,
enjoying a permanent or seasonal relaxed life style in tropical
surroundings. Whether you are looking for an Abaco vacation
rental beachfront home, beach villa, beachfront condo, or a canal
front home, or wish to retire, Treasure Cay offers a unique and
tranquil tropical getaway destination, with a lot of Bahamian
charm. There are no big city worries here, your only decisions
will be, “what to do today” and “how the weather will be”. You
truly set your own leisurely pace of living.
Treasure Cay is located on a peninsula, an extension of the
mainland of Abaco, and features world famous Treasure Cay
Beach, with its 3-1/2 miles of pristine, powdery white sand beach.
On the opposite side of the peninsula are the fantastic canal
waterways and first class Treasure Cay Marina with private
homes, condominiums, and the Treasure Cay Resort and Marina.
Tiny shops abound, offering everything from a full service
restaurant, bar, bakery, grocery stores, duty free shopping, dive
shop, boat rental, car rental, scooter and bike rental and golf cart
rentals can be found. To the north of Treasure Cay you can
arrange to see the Abaco wild horses, the farms, and the most
popular fresh water “blue hole” in Abaco, or stay in Treasure Cay
and play a round of golf at the Treasure Cay championship golf
course, arrange a charter fishing expedition from Treasure Cay
Marina, or simply sit at the beach, have a drink, eat a hamburger
and take a nap on the powdery beaches in paradise.
Page 1 of 41
W alker's C ay
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B A H A MA S
Man of W ar C ay
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ABACO ESTATE SERVICES
REAL ESTATE SALES z VACATION RENTALS z PROPERTY MANAGEMENT
S
Page 2 of 41
Columbus Cay
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ABACO ESTATE SERVICES
REAL ESTATE SALES z VACATION RENTALS
compliments of
Treasure Cay Map
Rock Point
Sea of Abaco
W
Sand Bank
Cays
S
N
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Windward Point
Sunrise Cay
Leeward Beach
Banyan Beach
Sandpiper Beach
(T
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8
1 Tennis Courts
2 Dive Shop
3 Shopping Center, Post Office, Bank
4 Community Center & Library
5 Marine Store
6 Batelco
7 Anglican Church
8 Catholic Church
9 Brigantine Town Houses/Villas
10 Ocean Villas
11 Mariner's Cove Condos
12 Atlantis Condos
13 Royal Palm Condos
14 Bahama Beach Club Condos
15 Royal Poinciana Condos
16 Treasure Cay Town Houses
17 Sandbank Landing
18 Medical Clinic
19 Tipsy Seagull Bar
20 Spinnaker Restaurant
21 Coco Beach Bar
22 Taxi Stand
Page 3 of 41
Offering
Treasure Cay Properties
Single Family
- 85 - Interior Lots- All approximately 10,000 Sq. Ft., 100 Linear Ft. Road, Majority between
Ocean Blvd. and Treasure Cay Drive
- 90 - Golf Course Lots- All approximately 10,000 Sq. Ft.
- 13 - Canal/Waterfront Lots Approximately 10,000 Sq. Ft, 100 Linear Ft. Road (see pg. 33)
Multi Family
- 36 - Lots
o Large One Acre Lots behind Golf Course
o Canal Front, Inner Harbour, 18,885 Linear Ft., Lot 18,000 – 26,000 Sq. Ft.
o Interior Lots, 10,000 - 19,000 Sq. Ft. behind canal front interior harbour,
approximately 100’ road frontage
Hotel Sites
- 40 - Acres (on beach across from Golf Course), 1,900 Linear Ft., Average 825' deep,
road frontage both sides, NO BUILDINGS (see pages 28 & 31)
- 14.4 - Acres (Hotel Site) across from existing hotel, 900 Linear Ft. frontage front and
back, average 550 ' deep; upgraded to an open air restaurant and bar
- 21 - Acres (Block 159, 160) Smaller section across from golf course, broken 950 Linear
Ft., approximately 7 acres between road and beach (see page 31)
High Rise (Multi Family)
Zoned - back of golf course, Hole 5 and Rock Point Road
- 25 - Acres , 7 Lots, 1,750 Linear Ft. on 5th hole golf course, sided by commercial
property
Clipper Cay (see page 26)
Designated Multi-Family, 35.7 Acres, 61 Lots, 7,300 Linear Ft., Harbour Entrance, and Inner
Harbour Frontage
Golf Course (see page 29)
6,972 Yds., 18 Holes, Par 72, Approximately 275 Acres , 2,200 Linear Ft. roadside ocean view,
Holes 3 & 4 are directly across from two beachfront hotel sites
- Buildings include maintenance shed (3,000 Sq. Ft.), caddy shack (1,000 Sq. Ft.),
equipment storage
- 10 Acre Driving Range (Private. It is for sale. There is now NO Clubhouse).
Hotel (On Marina - Building Only, 2 Story) (pages 12-17)
- 95 Suites and Rooms, approximately 40,000 Sq. Ft., 600 Linear Ft. Harbour/Marina
Frontage, 30 Boat Slips in front of Hotel
- Hotel Reception in front of office building, 2 Story, approximately 5,000 Sq. Ft.
Reception and Administration/Accounts Office with backup generator
Marina (see pages 19-20)
- 150 Slips, 6 docking areas (can accommodate up to 150' vessels)
o Power 30/50 amp with water, cable, and telephones.
- Fuel Station with 5,000 Gallon gas storage and 5,000 Gallon diesel Storage currently
being supplied by Rubis; has a backup generator; located on Clipper Cay
Page 4 of 41
Offering
Treasure Cay Properties
Marina Manager Office, Marina Shop, Boat Rentals/Tours Office (see pages 19-20)
- 2,800 Sq. Ft. Building for Marina Manager, Marina, Shop, Boat Rentals Office,
Showers, and Bathroom
- 640 Sq. Ft. for Ice and Water Plant/Shop
Restaurant/Lounge, Open Air Bar with Marina Pool (see page 2 2 )
- Spinnaker Restaurant, 6,720 Sq. Ft. air conditioned, kitchen, bar, storage with backup
generator, seats up to 250
o Additional 2,240 Sq. Ft. outdoor waterfront marina view
- TipsyBar- approximately 3,000 Sq. Ft. Open Bar; Seating for 200, withClover
Shaped Marina Pool
CoCo Beach Bar and Grill (see page 23)
- Approximately 3,000 Sq. Ft., open air bar and grill seating for 150 with backup
generator
Rental Shops and Shopping Center (see page 25)
- 6,600 Sq. Ft. (12 Rental Shops), Hardware Store, Souvenir Shop, Laundry, Bike/Scooter
Rental, Bakery/ Ice Cream Shop, Souvenir Shop, Small Grocery Store, etc.
- 13,000 Sq. Ft. Shopping Center which contains Bahamas Electric Company, Royal
Bank, Police Station, Batelco, Liquor Store, Golden Harvest Grocery, Post Office,
Canvas Shop, Bahamas Water and Sewerage
Industrial Site (see pages 27 & 28)
- 11 Acres - Cable TV department, garbage collection, waste removal department, heavy
equipment department, garage and warehouse. Also on site is a Power Plant.
Commercial & Open Zone Properties
- 134 Acre - Columbus Island (outer creek - 13,400 Linear Ft.) (see pages 34 & 35)
- 3.1 Acre - Sunris e Cay (located on east end off Treasure Cay Beach Point) (see page 24)
- 10 Acres vacant commercial property
- 800 Linear Ft. at 4th Hole; Two-acre ocean view
Employee Housing
- 24 Unit Staff Housing Apartment Complex (located at Treasure Cay entrance).
ALL INFORMATION IS CONSIDERED ACCURATE, BUT NOT WARRANTED, AND IS SUBJECT
TO CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL SQUARE FOOTAGES ARE
APPROXIMATE.
Page 5 of 41
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Page 11 of 41
Offering
Treasure Cay Hotel Resort and Marina
Located on the Bahamian island of
Abaco, Treasure Cay Hotel Resort &
Marina serves up an impressive menu of
activities and accommodations ranging
from standard rooms to spacious 1, 2, or
3 bedroom suites. Golf, tennis, sailing,
scuba and some of the Bahamas’ best
fishing are a sampling of a day’s palette
of options. Savor fine dining at
Spinnakers or island favorites at the
Coco Beach Bar. As the sun goes down
the lights come up on the Tipsy Seagull
where the party continues with dancing
and live music on into the night. What
you’ll find is certainly precious when you
crack the lid on the treasures that our
seaside oasis has to offer.
The resort’s well protected, modern 150-slip marina is
touted as one of the nicest such facilities in the
Bahamas. Centrally located, the marina is within short
walking distance of the beach, hotel, grocery store,
restaurants and bars. It offers protected anchorage
and moorings, fuel, laundry and showers. Boat
rentals, bonefish outings and charters also depart
from our docks.
Considered one of the best in the Caribbean,
Treasure Cay rests on the edges of a three and a half
mile white sand wonderland. We invite you to kick
back and bury your feet and your burdens under a
bucket of beverages or basket of Bahamian bar-bites
from Coco Beach Bar. If you prefer to be on the
water, we have a wide selection of activities including
sailing and jet-skis.
Page 12 of 41
Offering
Treasure Cay
y Hotel and Marina
The Treasure Cay Hotel consists of 40,000 sq. ft.
making up 95 suites and rooms.
Thirty of the slips are located in front of
the hotel rooms.
The hotel includes a two-story, 5,000 sq. ft.
reception, administration, and accounts
office.
Page 13 of 41
Treasure Cay Hotel & Resort Amenities
Treasure Cay Resort offers
standard rooms, deluxe rooms and
1, 2 or 3 bedroom suites; with
choice of garden or marina views.
All rooms feature amenities to
ensure a comfortable island stay.
Suites also offer complete
kitchens, a living area with private
balcony and multiple bathrooms.
Amenities
Coffee Maker
Microwave
Mini Fridge
Toaster
Dining Ware
Internet
Cable Television
Iron
Ironing Board
Hair Dryer
Queen Sleeper Sofa (depending on
room)
Patio/Balcony
Grilling Area
Complimentary Weber Charcoal
Grills available nearby
Air Conditioning
Alarm Clock
Refrigerator
Maid Service
Telephone
Wheelchair accessible
Ceiling Fan
Meal Plan Available
Clock Radio
Page 14 of 41
Garden View Guest Room, featuring King or twotwin beds, Garden level, with sundeck patio with
seating for two, Breakfast bar (includes microwave,
refrigerator, coffee maker, toaster & dining ware with
an outdoor charcoal Weber Grill. Pool area nearby.
Single/Double Occupancy.
Garden & Marina View 2 Bedroom Unit, featuring 1
King and two-twin beds, 2 bathrooms. Garden level, with
private dock (fee), with sun-deck patio with seating for two,
Breakfast bar (includes microwave, refrigerator, coffee
maker, toaster & dining ware) with an outdoor charcoal
Weber Grill. Pool area nearby. Up to 4 persons.
Marina View Waterfront Guest Room, featuring
King or two-twin beds, Garden level, with private
dock(fee), with sun-deck patio with seating for two,
Breakfast bar (includes microwave, refrigerator, coffee
maker, toaster & dining ware with an outdoor charcoal
Weber Grill. Pool area nearby. Single/Double Occupancy.
Mariner Condo Waterfront Master Suite, 1, 2 or 3
bedroom combination avail. With private dock (fee),
Second Floor, with sunset harbor view private balcony
with outdoor dining area for 4, featuring a fully equipped
kitchen, dining area, living room with pull out queen sofa
and a King Master loft. Two or three Bathrooms. Outdoor
Charcoal Weber Grill. Pool area nearby. Up to 6 persons.
Page 15 of 41
Treasure Cay Hotel Resort Rates
Hotel- Accommodation
Garden View Guest Room
(Single/Double
Occupancy)
Marina View Waterfront
Guest Room
(Single/Double
Occupancy)
Garden & Marina View 2
Bedroom Unit (up to 4
Persons)
Hotel Condo
Accommodation
Mariner Condo Waterfront
Master (1 Bedroom,
Single/Double Occupancy)
Mariner Condo Waterfront
Master Suite (2 Bedrooms,
up to 4 Persons)
Mariner Condo Waterfront
Master Suite (3 Bedrooms,
up to 6 Persons)
Jan 1-Feb 28, 2015
Aug 1-Aug 30
Oct 22-Dec 31, 2015
(Closed Aug 31-Oct 21)
Mar 1-July 31, 2015
$149
$169
$159
$179
$229
$269
Jan 1-Feb 28, 2015
Aug 1-Aug 30
Oct 22-Dec 31, 2015
(Closed Aug 31-Oct 21)
Mar 1-July 31, 2015
$229
$269
$310
$350
$365
$395
Meal Plans: $75 per person & per day (FAP 3 meals) gratuity & VAT not included
$65 per person & per day (MAP breakfast & dinner) gratuity & VAT not included
$30 per child & per day (MAP breakfast & dinner) for children 10 & under gratuity & VAT not
included; Meal Plans are subject to 7.5% VAT per day
Energy Surcharge: $2.95 per person per night
Tax & Service Charge: Hotel accommodation rates subject to 16% hotel tax and 10%
service charge per night
Reservation: All reservations, payments, and request for information are to be forwarded
to US Agent: Treasure Cay Services, Inc. Ft. Lauderdale FL, 33316, Ph: 800-327-1584 or 954525-7711, Fx: 954-525-1699, email: [email protected], website: www.treasurecay.com.
Page 16 of 41
Transportation: Treasure Cay International Airport (TCB) taxi is $30 per couple
each way - 7 miles
Marsh Harbour International Airport (MHH) taxi is $85 per couple each way - 30
miles
Hotel Policies
Deposits/Payments: First & last night required
Cancellation: Reservations for accommodation, packages & meal plans cancelled less
than 14 days prior to arrival
date are non-refundable.
Children: Children age 10 and under are exempt from extra person charges
Extra Person: $20 per night available on hotel suites only
Crib: $6.00 per night
Telephones: In-room telephones available
Internet: In-room connection available, wireless in marina and Tipsy Seagull
Check-In Time: 3:00pm
Check-Out Time: 11:00am
Guests are permitted to bring dry goods or frozen foods, however, please be advised
that fresh fruit, vegetables and meats are restricted.
A valid passport is required for re-entry to the US from the Bahamas. Please
contact your local Bahamas Tourist Office or Immigration Department for further
details.
Page 17 of 41
Activities and Sports
Tennis
Scuba Diving
Snorkeling
Golf
Motor Scooter
Rental
$25 per hour, hard courts
Racket rental at no charge
Lessons available
Car Rental
Approx. $75/day
Treasure Divers – (242) 3658571
operated by Brent White
www.treasure-divers.com
Treasure Cay Hotel & Marina
guests 18 holes for $65.00
Lessons and Golf packages
available.
Public fees $90.00 for 18
holes. Power
cart fee $30.00
Bicycle Rental
$31.00 – 4 hrs.
$44.00 – full day $40 for
over 3 days
Green Turtle Ferry www.greenturtlecayferry.com
Green Turtle Ferry
Cornish Car Rental (242) 365-8623
Triple J Car Rental (242) 365-8761
Bodie’s Car Rental (242) 359-6681
$5.00 half day
$7.00 full day
$42.00 per week
Sport fishing
Please call (242) 3658250 for reservations.
Charters range from
$375 for half day to
$500 for a full day.
Charter prices include,
fuel, tackle, bait, and
ice.
Small Boat
JIC Rentals - (242) 365Rental
8582
Rich’s Rentals - (242)
365-8582
Golf Cart Rental Bluemarlin - (242) 3658687
Cash’s Carts - (242)
365-8771
Getting Here
By Air:
Treasure Cay Intl. – MYAT 26.44°N 77.23°W
Runway –6,900’x150’
2,500’ New Asphalt –Numbered and Overrun on Both Ends
Marsh Harbour Intl. –MYAM 26.30°N 77.05°W
Paved Runway – 5000’x100’
Page 18 of 41
Offering
Office
Marina Off
ffice and Fuel Station
The Marina Manager’s Office is a
2,800 sq. ft. building with a backup
generator.
The marina includes 150
slips with full services,
four docks, and will
accommodate 150’
vessels.
The fuel station holds 5,000
gallons of gas, 5,000 gallons
of diesel, has dock and street
pumps, and has a backup
generator. It is located at
Clipper Cay and is easily
accessible.
Page 19 of 41
Offering
Treasure Cay Marina
In addition to dockage, the marina offers both
diesel and gas fuel with the lowest fuel prices in
Abaco and new extended hours as well as protected
anchorage and moorings, laundry and shower
facilities, marina and grocery stores, duty-free
shopping and cable television. The docks also serve
as a departure point for bonefish outings, boat
rentals, charters, and guided excursions and sizable
annual fishing tournaments.
Reservations
Marina & Fuel Manager: Cliff Bootle
Marina & Fax (242) 365-8250
US Private line (954) 636-2776
24 hr. Cell (242) 577-0373
Marina Rates
Winter Dockage Specials- September through February
28, 2015:
$525 per month under 70 ft., $1,050 per month over 70 ft.
Transient: 0 – 69ft = $2.15 per ft. per night
70ft + = $2.55 per ft. per night
Anchorage: $10 per night Moorings: $20 per night
Long-Term: Month: $1.50 per ft. per night; Over 70 ft.:
$1.90 per ft. per night
Water
0 to 39 ft. = $10 per night
40 to 49 ft. = $12 per night
50 to 59 ft. = $15 per night
60 to 69 ft. = $18 per night
70 ft. + = $20 per night
Electricity
30/50/100 amp service available
0 to 29 ft. = $15 per night
30 to 39 ft. = $20 per night
40 to 49 ft. = $25 per night
50 to 59 ft. = $30 per night
60ft + = $0.60 per ft. per night
(Boats using 50 amp chords; rates quoted are per 50 amp
chord)
*As of January 1st, 2015 ALL rates, memberships & services in
the Bahamas will be subject to a new Government Tax (VAT)
at the rate of + 7.5%.
Page 20 of 41
Dining
Whether overlooking
the marina or looking
over a picnic table at the
expansive ocean, you’ll
find the dining options
at Treasure Cay to be
both flavorful and
colorful. True Bahamian
dishes compliment more
traditional fare on
menus that evolve with
fresh island ingredients.
Themed menu events
each week, such as the
famous “Pizza Night” on
Thursdays at The Tipsy
Seagull, bring the
community together.
The Spinnaker is positioned
within lush tropical gardens
and in full view of our world
class marina. Serving
breakfast and dinner, the
menus are internationally
themed while inspired by our
noted Bahamian chef. Visit the
Spinnaker lounge for a predinner cocktail, afternoon or
evening beverage, or a
fabulous night cap dessert.
Mere paces from the water’s edge sits
the captivatingly laid back Coco
Beach Bar & Grill. Renowned for its
Bahamian drink specialties and local
grilled favorites, this casual beach
facility features weekly
entertainment, picnic tables, lounge
chairs, thatched shades and a watersport cabana for Hobie cat, kayak,
and banana boat rentals.
Page 21 of 41
Offering
Spinnaker Restaurant & Tipsy Bar
The Spinnaker is a 6,700 sq. ft.
air conditioned restaurant
lounge, kitchen, bar, and storage
area included with a seating
capacity of 260 persons. The
Spinnaker also has an individual
standby generator.
The Spinnaker also includes an
additional 2,240 square feet of
outdoor waterfront seating.
The Tipsy Bar is a 3,000 sq. ft. open
bar and grill with a pool.
Page 22 of 41
Offering
Coco Beach
h Bar and Grill
The Coco Beach Bar and Grill
is a 3,000 sq. ft. open beach
bar. It seats 150 persons and
has a SPECTACULAR view!
The Coco Beach Bar and
Grill has a backup
generator.
Page 23 of 41
Page 24 of 41
Offering
Rental Shops
p and Shopping
pp g Centre
6,600 Sq. Ft. Rental Shops
Hardware Store, Souvenir Shop, Laundry, Bike/Scooter Rental, Bakery, Small Grocery Store
13,000 Sq. Ft. Shopping Centre
Bahamas Electricity Corporation, Royal Bank, Police Station, Batelco, Liquor Store, Golden
Harvest Grocery Store, Post Office, Canvas Shop
Page 25 of 41
Page 26 of 41
Cable TV/ Garbage Collection/ Heavy
Equipment
p
Dept.
p Garage
g and Warehouse
Government Owned and Operated:
Batelco – Bahamas Telecommunications Corporation
BEC – Bahamas Electricity Corporation
Water and Sewerage Corporation
Treasure Cay Ltd. Owned and Operated (within TC only)
Cable TV
Garbage Collection
Page 27 of 41
Page 28 of 41
Golfing in Paradise
Treasure Cay’s fabulously designed Dick Wilson gem stretches a healthy 6,985 yards from the
back tees with fairways framed with thick island vegetation. Classically styled elevated green
complexes are well protected and can be hard to hold when the winds are up. Not to worry, though,
the resort’s chilled island vibe will keep your rounds relaxed. There’s plenty of time for a couple of
rounds a day as they tend to average 3 hours. Tee times can be made through the resort. Special
island golf events and unlimited play packages are updated regularly.
Page 29 of 41
Offering
Treasure Cay Golf Club
Page 30 of 41
Page 31 of 41
Comparative Development Sales
While there are new developments starting in the Bahamas every week, Treasure Cay still has numerous
tracts still available for development at affordable pricing.
THE ABACO CLUB AT WINDING BAY—
Approximately fifty miles from Treasure Cay
on the mainland of Abaco is a 520 Acre
International private member (members only)
Golf Club and Sporting Retreat with
residential lots, both beachfront and
overlooking the ocean. More than 3.5 miles of
oceanfront, several select locations on higher
ridges, just 60 home sites have been identified
for Members who wish to design and own
their own homes. Each site has more than 200
feet of frontage and breathtaking views of the
beach, ocean, and golf course. Onsite
clubhouse, restaurant, spa, and beach bar.
Marsh Harbour, a twenty minute drive away,
is the closest commercial area and there is no
marina onsite. More at theabacoclub.com.
Beachfront lots are currently selling for $3.1
million to $3.9 million.
BAKER’S BAY GOLF & OCEAN CLUB—
The Baker's Bay Golf & Ocean Club is a private, property owners
only club community perched on the northern 600 acres of Great
Guana Cay in the Abaco family islands of the Bahamas. Nestled
between the turquoise Sea of Abaco and the Atlantic Ocean, the
community features picturesque home sites, luxurious island
cottages and colorful beach bungalows that blend in perfectly with
the rich cultural heritage of the Abaco Islands. Amenities include a
Tom Fazio-designed oceanfront golf course; club-owned
watercraft; a private family beach club; and a world-class spa and
fitness facility. Additionally, Baker's Bay is home to a picturesque
seaport village where your family can experience all the nuances of
Bahamian culture. Walking the cobblestone pathways, our
members come across a lively waterfront cantina, as well as
inviting shops and boutiques. More at bakersbayclub.com.
Beachfront lots are currently selling for $8 million to $10 million.
Page 32 of 41
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Page 35 of 41
Investing in Tranquility
Investing: Why The Bahamas
Published: The Bahamas Investor Magazine
Author: Simon Townend
What makes Bahamas a more desirable place to invest than Bermuda, Cayman or
Caribbean jurisdictions?
There are very few countries in the world that do not promote their jurisdiction as an
optimal place in which to invest. Any regular reader of Bahamas promotional material and
media will likely be able to come up with 10 good reasons to invest here.
In fact, this magazine has itself featured a two-page advertorial outlining key reasons to
invest, which include:
• proximity to the US
• a common time zone with New York and Toronto
• a peaceful and stable democracy since 1729
• an independent nation with compliant legislation
• no local taxes on capital gains, inheritance, corporate or personal income
• proactive incentives for investment
• highly trained professionals
• essential public services and
• modern infrastructure and
• an ideal climate and lifestyle.
These are all “great to haves,” but many countries competing with The Bahamas in its core
industries of tourism and financial services can boast the same. An investor looking to
invest in The Bahamas is seeking more than just the selling points above. The investment
has to make commercial sense and provide a suitable return for the risk of making an
investment.
While the aforementioned points certainly contribute to the sustainability of a business
model, when it comes down to conducting a detailed due diligence, where can The
Bahamas really offer a competitive advantage? What is it that makes The Bahamas a more
desirable place in which to invest than another country in the Caribbean region, or other
international financial centres such as Bermuda or the Cayman Islands? The following is a
quick rundown of some of our most distinctive and significant strengths in our two key
industries, tourism and financial services, and the synergies generated between the two.
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Investing in Beauty
Pure volume of prime real estate.
The Bahamas has an established market with significant opportunity for growth across
700 islands and cays. Recently, the country has been seeing unprecedented inward
development in tourism, into the many billions of dollars. Throughout the Bahamian
archipelago there lies opportunity for development, preferably sustainable and ecofriendly. A huge amount of beachfront or oceanview real estate remains to be developed.
As Donald Trump said, “Real estate is always good as far as I’m concerned!”
A knowledgeable counterpart
Each investment is a negotiation. The government of The Bahamas understands the
business intimately and any serious investor with the track record, management team
and financial capability to successfully complete a project will be taken seriously. It is
normally easier to negotiate with an informed counterpart. The investor woes we
sometimes hear tend to come from those who have not fully thought out or presented
their plans, have inadequate funding or expertise, or have elevated expectations when it
comes to concessions. The Bahamas knows the tourism industry extremely well, easing
the load for investors.
No need to reinvent the wheel
There’s an old adage that states: pioneers get arrows in their backs. Fortunately, investors
in The Bahamas do not have to be pioneers. The Bahamian portfolio of product is hugely
diverse, allowing investors to benefit from an existing infrastructure and a thorough
understanding of the offerings by regulators and industry marketers. This product ranges
from the magnificent aquatic enticements and casino at Atlantis, to luxury mixed-use
resorts such as the One&Only Ocean Club on Paradise Island, Four Seasons in Exuma,
Winding Bay in Abaco, the forthcoming Ritz-Carlton on Rose Island and the Conrad in
Bimini. Also on offer: a world-famous golf course designed by Ernie Els and Tiger Woods
at the Albany Golf & Beach Club. There is also something for those seeking a quieter
existence, such as the eco-friendly Tiamo in Andros, bonefishing lodges, and Out Island
barefoot experiences.
Outstanding beauty
The geographical product is out of this world; you can see the Bahama banks clearly from
outer space. There are few places in the world with beaches and seascapes that can match
those in The Bahamas, and certainly there is nowhere else with the sheer expanse of
stunning beachfront that The Bahamas possesses. Appropriately, the islands are named
after that which makes them so beautiful. Christopher Columbus dubbed the
country baja mar (Spanish for shallow water) in 1492, upon observing the huge expanse
of sandy shallow-water banks.
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Investing in Serenity
An experienced and proud workforce
Labour is not cheap in The Bahamas, but the levels of expertise and experience exceed those in
many competitive jurisdictions, as does the friendliness of the Bahamian people. Most
Bahamian resorts are staffed primarily by Bahamians who are proud of their product, unlike
some competitors whose hotels are staffed by imported labour.
Infrastructure
The Bahamas already receives approximately five million visitors annually, and has the air and
seaports to manage this traffic effectively. Indeed, the country’s major airport gateway [has
been] upgraded with new and renovated terminals in order to handle the expected future
increase in passenger traffic. Airport management company Vancouver Airport Services Ltd
(also known as YVRAS), [was] appointed to see the airport facility through its $300 million
expansion programme. The major cruise port, Nassau Harbour, is regarded as one of the most
beautiful in the world, with natural harbour flow through, clean water and a large turning
basin.
An attractive jurisdiction for lenders
Lenders understand and like The Bahamas. Virtually every development project is financed
with some leverage. In a recent survey conducted by KPMG corporate finance, The Bahamas
was noted as the most popular destination in the region to lend into by the majority of the
banks surveyed. Why? In addition to the reasons noted above, major lenders to the hospitality
industry in the region recognize The Bahamas as being a well-established jurisdiction for
tourism. Furthermore, non-traditional lenders are financing a variety of Bahamian projects, as
The Bahamas has a sufficiently prosperous industry to be deemed a key player by the
syndicates in New York, Toronto and elsewhere.
Financial services
The Bahamas is also a long-established and well-recognized financial services centre with
particular competitive strength in the private banking and trust environment, and an extensive
suite of related products and services.
The Bahamas is one of the largest private banking locations in the world. According to the
Bahamas Financial Services Board website, “The Bahamas is home to some 250 banks and
trust companies, of which 125 are subsidiaries of institutions from 28 originating countries.
With combined balance sheet assets of $300 billion, and having over $1 trillion in assets under
administration, financial services make a significant contribution to the Bahamian economy.
The country’s private banking and trust business accounts for nearly four-fifths of its financial
services business, which contributes about 20 per cent of gross domestic product.”
The site goes on to note that “The Bahamas also has over 80 insurance companies, with assets
approaching $700 million. Seven hundred and twenty-plus investment funds have assets under
management totaling in excess of $205 billion. The Bahamian ship registry is one of the world’s
most prestigious and currently it is ranked as the third-largest ship registry in the world, with
merchant ships representing some 42 million gross tons.”
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Investing in the Bahamas
Big names
Many high-calibre financial institutions have a significant presence in The Bahamas,
including HSBC, Credit Suisse, Pictet Bank & Trust, UBS, SG Hambros, Cititrust,
Ansbacher, JP Morgan, Royal Bank of Canada, Scotiatrust and CITCO. This impressive
array of reputable institutions means new entrants can feel confident that Bahamian
regulators and the professional community understand the financial services business
and can provide the necessary support.
Stable and solid growth
The Bahamas adapted extremely quickly and decisively to a significant global shake-up
of the financial services industry earlier this decade. This meant a change in the way
financial services regulation was administered—a change for the better. The Bahamas is
now reaping the benefits, as a spate of new high-profile banks and financial institutions
is choosing our islands as an attractive location from which to conduct business. Very
recently, for instance, one of the fastest-growing private banking businesses out of
Europe, EFG International, set up shop in The Bahamas.
Top-tier service providers
The industry is serviced by the largest global accounting firms, including KPMG,
PricewaterhouseCoopers, Ernst & Young and Deloitte & Touche, as well as other midtier firms, which have significant on-the-ground resources and are able to tap into
global networks to serve their clients effectively. These firms can provide an array of
advisory services outside of the traditional audit space. The legal profession also has
deep roots and strong connectivity with the major financial services centres.
People power
The Bahamas Financial Services Board says it best: “People power continues to be a key
ingredient in providing continuity and consistency of services. The Bahamas has a large
skilled labour pool, well-educated and committed to professional development, and
driven to perform…an available pool of well-qualified international and Bahamian
professionals means The Bahamas can offer long-term working relationships with
resident expertise.”
There are several generations who have grown up in The Bahamas during the time that
it has been a financial centre, and new ideas and enhancements continue to be made to
the product. The industry is growing in a well-managed and orderly fashion, fostering
the type of environment that is attractive to sophisticated investors.
A great place in which to invest…
In conclusion, The Bahamas continues to look for ways to build its competitive
advantage, develop new products, and better service the needs of tourists and financial
services clientele. The foundation has been laid, and the framework put in place, to
make The Bahamas an attractive place for investors to grow their assets.
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Additional Contacts
Frederick F. Gottlieb & Co.
Mr. Frederick F. Gottlieb- Attorney
Mrs. Ximena Thompson- Attorney
P.O. Box AB 20405
Bay Street,
Marsh Harbour, Abaco, Bahamas
Ph #: 242-367-3120
Fax #: 242-367-3118
E-mail: [email protected]
Rhonda L.C. Hull & Co.
Mrs. Rhonda Hull- Attorney
P.O. Box AB 20415
Don Mackay Boulevard,
Marsh Harbour, Abaco, Bahamas
Ph #: 242-367-2030
Fax #: 242-367-2018
E-mail: [email protected] or [email protected]
Website: www.lchull.com
Related Websites
Bahamas Financial Services Board
www.bfsb-bahamas.com/
Bahamas Government
www.bahamas.gov.bs
Bahamas Ministry of Tourism
www.bahamas.com / www.tourismtoday.com
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References
"Baker's Bay Golf & Ocean Club." Baker's Bay Golf & Ocean Club. N.p.,
n.d. Web. May 2015.
"Barefoot Luxury in The Bahamas." The Abaco Club. N.p., n.d. Web. May
2015.
Townend, Simon. "Investing: Why The Bahamas." The Bahamas
Investor Investing Why The Bahamas Comments. The Bahamas
Investor Magazine, 18 Jan. 2011. Web. May 2015.
"Treasure Cay Beach Marina & Golf Resort | Bahamas Resort." Treasure
Cay Beach Marina Golf Resort. N.p., n.d. Web. May 2015.
This prospectus has been prepared for your reference by:
Broker – Ed Newell
Ph: (242) 365-8752
Cell: (242) 357-6570
Toll-Free: 866-653-7164
Email: [email protected]
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