BARBADOS HAS ATTRACTED millions of dollars in new investment from a British firm involved in real estate development.
Prestbury Investment Holdings Limited, which is planning to build five US$25 million luxury villas in Holetown, St James, has also acquired two dozen homes at Battaleys Mews, an upscale housing development in St Peter. The development fell into receivership and was put up for sale two years ago.
Prestbury Investment partner Ben Walford told BARBADOS BUSINESS AUTHORITY from London that “regarding Platinum Bay, we remain as committed as ever to developing this amazing prime site and to investing in Barbados”.
He also revealed that the firm was keen to cash in on Battaleys Mews.
“Indeed, we have substantially increased our holdings on the island with our recent acquisition of 25 houses at Battaleys Mews, Mullins, where each three-bedroom house and the shared social area including a swimming pool, tennis court and fitness centre have been comprehensively renovated and relaunched,” he said.
“The houses are being marketed through Chesterton starting from US$595 000, which we think represents exceptional value and has resulted in several units being either sold or under offer within weeks of our relaunch.”
In terms of the Platinum Bay project, which will occupy the site where Chefette once had a restaurant, this will involve the construction of five detached beachfront villas, which the developers said will “set it apart from other residential developments in Barbados”.
News of these developments come at a time when real estate agents and developers in Barbados are reporting renewed interest at the “upper end” of the real estate market, with overseas buyers said to be keen to buy luxury homes here.
