January 24, 2012

A Private Island in The Bahamas…

Solace for the Hassled, Boundless Opportunity for the Visionary and Pinnacle Attainment

Many say the world is out of balance. Everyone wants to ‘find’ time, ‘find’ peace and ‘find’ privacy.

Psssst…. guess what there is a, not-so-secret, source offering discovery of these desired and all too often elusive elements. It is a ‘secret’ that Celebrities, fortunate folks and notable achievers, such as Francis Francis (we’ll get to him in a bit), have known for decades: private islands can be a path to personal reconnection.

Private Islands are gems of the sea waiting to deliver access to YOUR personal refuge. They hold the unique potential to create YOUR uninhibited personal nirvana according to your definitions AND in the current real estate market, private island ownership is more accessible than it ever has been. > ‘Bird Cay’, presents a gorgeous oasis in the south Berry Islands of The Bahamas awaiting its new owner and ‘creator’ AND that could be YOU!

Johnny Depp, Faith Hill and Tim McGraw , Eddie Murphy, David Copperfield and other recognizable celebrities and high-net worth individuals have embraced the lure and rewards of private ownership and these ‘safe havens’ constantly make headlines.
Necker Island, Sir Richard Branson’s Island, has been touted in headlines recently. Many marveled at how the allure of private island mystique trumped the loss of the main house to a fire in the summer while hosting Kate Winslet and did not deter Branson’s daughter Holly from accessing the perfect private island wedding location just as her father did over a decade ago.

Stories of the well-heeled and their private island experiences are always headline grabbers! The England’s youngest royal couple,
‘Will and Kate’ ,as they are affectionately known, chose a private island honeymoon location as their retreat from a media greedy public.

Private Island retreats and their ownership is not a new choice for wealthy and celebrity personalities. The romantic appeal of island ownership can be traced back to other high profile jet setters decades ago. This is the case of Francis Francis, a handsome Brit and heir to the Standard Oil fortune, who decided in the early 1940’s to buy his own island situated in the south Berry Islands of The Bahamas. He named it ‘Bird Cay’.

Naming a landmass that will grace global cartography can be cited as a distinctive and heady ‘perk’ of island ownership. However, do not be fooled. At this point in time, this was not an acquisition for the ‘faint-of-heart’! These gorgeous landforms set in azure seas may provide the optimal retreat, but in the 1940s their access and ease of development was not what it is today. There were no luxury jets into international airports and no limo in the wings to whisk you away to your luxurious state-of-the-art dwelling. While an island playground born of the owner’s fantasy can be easily accessed today, such as Nygard Cay in The Bahamas, requirements in the 1940s for the owners of these retreats was not just wealth, but ingenuity, a sense of adventure and a visionary spirit. Francis Francis was truly such a person. He embodied success through athletic achievement, financial gain and courageous and philanthropic efforts.

Truly the 40’s were a time that summoned adventurers. It was a time of war and Francis Francis was responding to the call through the manufacturing and marketing of ejection seats . This progressive company still provides these lifesaving mechanisms for 93 air forces worldwide. Francis Francis can be seen in this 1937 photo with fellow founders of the Martin–Baker Aircraft Company.

A tribute to Mr. Francis’ fearlessness and pioneering spirit was his participation in being one of the early ‘live’ test subjects. This practice involved bold souls willing to endure a 16 foot test rig built in the form of a tripod, one of the legs being in the form of guide rails. A seat was propelled up the guide rails by a gun, consisting of two telescopic tubes energized by an explosive cartridge. Studies were conducted to find the limits of upward acceleration that the human body could stand. As a result of the farsighted and intrepid efforts of men like Francis Francis, over 7,300 lives have been saved by Martin-Baker ejection seats to date.

The Bahamas possess an intoxicating beauty. However, Francis’ courageous spirit could certainly be attributed to what led him to embrace the undertaking of owning and developing his own island. Indeed, his pluck was evident at an early age. Among his accomplishments were winning the Swiss Open as an Amateur in 1936 and finishing twice as the leading amateur in the British Open. Ownership of four restaurants and nightclubs in London later in life surely provided additional preparation.
During the war Francis Francis purchased ‘Bird Cay’ from his sister, Joe Carstairs (Marion B.), another spirited soul.

When the war ended he moved with his theatrically renowned bride, Patricia Francis (nee Leonard) to The Bahamas and worked to settle their private island. Initially, the brave hearted Francis and his operatic and theatrically talented wife lived on their freighter “The Mereghan”. It was anchored just off of the point of ‘Bird Cay’ until the first buildings were completed. Today, the remnants of his personal republic built from harnessing the raw materials of rock quarried from the island can still be seen on the island.

During a glamorous and glittering era of Bahamian history, ‘Bird Cay’ was where Francis chose to raise his children and entertain his friends from the likes of the Duke of Windsor to Greta Garbo
; all while practicing golf on a custom-designed driving range.

Today, ‘Bird Cay’ remains an Exotic Private Island Paradise. Now in the center of a new Marine Reserve for the Berry Islands similar to the Exuma Cays. Prices in the Land and Sea Park in Exuma have skyrocketed and the same is anticipated for the new Berry Island Reserve. ‘Bird Cay’ represents a wonderful investment opportunity as this environmental treasure gains notoriety and stature around the world.

Just as with Francis Francis, ‘Bird Cay’ presents a haven of beauty and tranquility. This 250 acre tropical island at the south end of the Berry Islands chain is just 30 minutes by air from Nassau. Naturally protected on all sides by neighboring islands and sand banks, ‘Bird Cay’ offers an excellent marina opportunity for the right investor with the adventurer’s soul. Chub Cay lies just west of this island prize and has a 5,000 foot airstrip with regular and chartered flights to Nassau that conjures visions of private resorts, exclusive clubs, and exceptional restaurants. With over 4.75 Miles of water frontage
‘Bird Cay’ offers sandy beaches, crystalline waters, spectacular ocean views, gentle prevailing breezes, numerous trails, tropical palms, casuarina trees, as well as citrus and coconut groves. The privately owned island of Whale Cay (Read a bit about “Joe”, Francis Francis’s sister, “The Queen of Whale Cay”) to the east includes an additional 4,000 foot paved runway and harbour. Proximity to the Great Bahama Bank and the Tongue of the Ocean makes this an excellent fishing, sailing, and scuba-diving paradise. Given the considerable flowing grass land, homage can be paid to Francis Francis via the creation of a few easily be constructed golf holes on the island.
Today, ‘find’ your tropical paradise and tailor it to your vision. Now is truly THE time to have a look at Bird Cay, Bahamas. (Read PIN’s article on “Why there’s Never Been a Better Time to Buy a Private Island” ) Engage your inner celebrity or your visionary and entrepreneurial spirit.

Consider all of YOUR possibilities – business retreat, family compound, or a stunning island resort. Ignoring this opportunity would ‘be for the birds’!

November 29, 2011

Kerzner transfers Atlantis resort to Brookfield

Filed under: Investment — johnchristie @ 7:21 pm


UPDATE 1-Kerzner transfers Atlantis resort to Brookfield
Tue Nov 29, 2011 6:57pm GMT

NASSAU, Bahamas Nov 29 (Reuters) – Kerzner International Ltdunveiled on Tuesday a debt-for-equity restructuring that will transfer ownership of its Atlantis mega resort in the Bahamas to a Toronto real estate and asset management company.

The resort owner and operator, which has been locked in negotiations with lenders over its $2.6 billion debt mountain for some time, said in a statement it was transferring equity ownership of Atlantis and its One & Only Ocean Club properties in the Bahamas, plus the One & Only Palmilla in Mexico, to Brookfield Asset Management Inc .

Brookfield is exchanging $175 million worth of Kerzner International’s debt in return.

The deal effectively transforms Kerzner International into a resort management company, as opposed to its previous status as an owner-operator.

It will continue to manage the Atlantis and two One & Only properties for Brookfield, and focus on growing both brands worldwide.

Sol Kerzner, Kerzner International’s chairman and chief executive, said: “This transaction will permit Kerzner to move forward as a management company, allowing us to get back to what we do best — designing and managing world-class destination and luxury resorts under the Atlantis and One & Only brands.”

Kerzner International will continue to own rights to both brands, and Kerzner said Brookfield and the company were in agreement to maintain employment levels at the two Bahamian resorts, along with marketing and capital investment.

Kerzner said the agreement, which requires Bahamian government approval, would “substantially reduce our debt and streamline our balance sheet and operating structure.”

The restructuring is expected to close by 2011 year-end.

November 18, 2011

Ocean Club – Paradise Island, Bahamas OPEN HOUSE November 25th & 26th, 2011

Filed under: Around the Islands,General,Investment,Life Style,Our People,Real Estate — johnchristie @ 4:03 pm
HG Christie Listing JS00138 Open House Invitation

This is a gorgeous home with a highly desirable address at an amazing price!

This is a Magnificent Beachfront Home in The Bahamas, custom built and located in prestigious and renowned Ocean Club Estates on Paradise Island. Come see for yourself this Thanksgiving Weekend. Attend the Open House being held Novemeber 25th & 26th from 11AM to 1PM EST.

Sitting on a cul-de-sac lot provides a great advantage – for this 4 bedroom/4.5 bathroom Mediterranean style residence. This home sitting at the point of Ocean Club Drive features a 6,200 sq. ft. professionally-designed interior that brings back the elegance of Old World craftsmanship accented with fine furnishings and rich hardwood floors.

Did you say you like to entertain and cook a little???? – Head to the gourmet kitchen!
Cooking not your thing so much? Then retreat to one of the formal rooms with intoxicating views or just relax beside the infinity edge pool and enjoy the well landscaped garden.
Looking to feel like the MASTER of your opulent island retreat? Check out the master suite which encompasses most of the second floor!

This IS the location where the rich and famous come to play. A home of this quality and pricing is a rare find in Paradise Island. It defines luxury island living and is offered fully furnished. We look forward to seeing you at the Open House next week.
“>”>Check out the full listing here:

November 10, 2011

CHRISTIE’S NEW YORK POST-WAR AND CONTEMPORARY ART EVENING SALE REALIZES $247,597,000 (£153,510,140 / €178,269,840)

Filed under: Investment — admin @ 12:01 pm

16 NEW WORLD AUCTION RECORDS

ROY LICHTENSTEIN’S I CAN SEE THE WHOLE ROOM!…AND THERE’S NOBODY IN IT! FETCHES $43,202,500–A WORLD AUCTION RECORD FOR THE ARTIST

Last evening’s Post-War and Contemporary Art Evening Sale at Christie’s in New York achieved $247,597,000 (£153,510,140 / €178,269,840), demonstrating the continuing appeal of this category among collectors worldwide. Thirty-three works sold above the $1 million mark and 16 new world auction records were established. In total, sell-through percentages were very strong, with 90% sold by lot and 87% by value.

“The world’s top 10 collectors were present in the saleroom tonight… (Read More)
http://www.christies.com/features/auctions/1111/post-war-contemporary/

October 21, 2011

HG Christie Sponsors Participant In 2011 Abaco Kayak Challenge

Saturday, October 15th, 2011
Abaco, The Bahamas
This past Saturday a Kayak Challenge was held by Friends of the Environment, a local environmental group in Abaco, Bahamas.  The highly successful event was organized to support both the Abaco Cancer Society and Friends bringing joy and a sense of community to all involved.

On a cool and blustery morning, with a sizeable 2-3 foot chop on the water, a few dozen brave kayakers departed Abaco Beach Resort for a grueling 7, 12 or 20 mile kayak challenge down the coastline of the Sea of Abaco; their motivation drawn from a desire to raise much needed funds.

HG Christie proudly sponsored Rachael Aberle, wife of Abaco agent Neil Aberle.  Rachael competed admirably in the event.  Despite challenging conditions she and her teammate, Penelope Menzies, completed the seven mile challenge in a little over 2 hours.

Back at the beach, participants were welcomed by fans and supporters.  Cheers filled the air as the kayakers made their way back to shore in exhausted and triumphant paddle strokes.   Climbing ashore the sound of the beach’s soft, sandy crunch against the plastic hulls marked the end of their personal adventure.

Supporters who weren’t up for the challenge this year stayed on the beach and enjoyed the all-day party. Food, drink, music and merchandise.

One of our own ‘cheerleaders’ , Hope Town HGC agent Robbie Bethel, ended up loosing his voice as a result of his enthusiastic efforts.

Beginning at 7 in the morning the event continued throughout the day.  As the shores of the Abaco Beach Resort filled with all types of paddled craft and exuberant community support several thousands of dollars were raised.  This resounding success has spurred on the intent to hold the event annually.  HG Christie was proud to support this worthwhile cause and looks forward to next year’s opportunity to be involved once again.

Kudos to Friends of the Environment, Rachael and the Abaco Community!!

May 31, 2011

MLS Market Update – First Quarter 2011 By Dwayne Wallas.

Filed under: Investment — johnchristie @ 8:40 pm

As we can all bear witness, the world’s real estate markets have been seeing a very diverse range of performance indicators.

Some market areas show strong stabilization, recovery and price rises; while other areas are seeing the exact opposite. Take for instance reports from San Diego and New York are very positive, but reports from other areas of the US are not so rosy. There seems to be a similar pattern around the world and through the Caribbean. One major improvement is a significant absorption of the “condo glut” which hit areas like Miami and Las Vegas. So what is happening in the Bahamas?

The real estate market in the Bahamas is feeling a similar mixed pattern as the rest of the world. Some areas, such as those around the ‘Bahamar Resort’ in New Providence, are currently very hot – especially in the rental market. This can be attributed to a direct result of the ground breaking and ongoing development of the hotels on the Cable Beach strip. On the other end of the spectrum less developed islands, such as Long Island or Cat Island, are experiencing diminished activity from buyers. Notably, Nassau has managed to maintain a level of consistency in activity through the past tumultuous years.

In meetings and discussions with my professional colleagues at HG Christie, we have all spoken to a prevailing shift of attitude, or lack of confidence in smaller or emerging settlements, from the typical buyer as they gravitate towards more established communities.
New developments lacking a solid plan and sound financial position to complete proposed works are not attracting buyer or investor interest.

While signs of improvement emerge in small glimmers, it is still a challenging market for sellers and a exceptional time for buyers and savvy investors. Opportunities to choose and negotiate the best deal possible remain.

The following figures and facts obtained from the Bahamas MLS tell a supporting story to the previous observations:

Total number of listings on the Bahamas MLS during January 1, 2011 to March 31, 2011: 1,422
Total number of sales occurring in that period from January to March: 13

That means that should present conditions prevail it could take 27 years to sell all the listings on the MLS at the current Rate of Absorption.

However, it I would be remiss if I did not speculate the possibility that a hard hitting reality has made at least 50% of the listings on the MLS grossly overpriced and unable to turn in these, and possibly any, market conditions. So, if I take that out of the equation, we could still be looking at a 13 year supply of listings for the entire Bahamas market.

Hmmmm….. Lets break this down a bit. Let’s go by island and see which islands in the Bahamas are ‘hot’ and which are not.

For all of the following statistics the period of March 31, 2010 to March 31, 2011 was used. This time frame provided the opportunity to take into account an entire year that could emcompass seasonal ups and downs in the markets.

Nassau & Paradise Island
Listings: 343 Sales: 63
Absorption rate: 5¼ units per month or a 5+ year’s supply of listings.

Grand Bahama
Listings: 100 Sales: 3
Absorption rate: ¼ unit per month or a 400 year’s supply of listings.

Abaco
Listings: 335 Sales: 12
Absorption rate: 1 unit per month or a 27 year’s supply of listings.

Eleuthera
Listings: 73 Sales: 4
Absorption rate: 1 unit per month or a 219 year’s supply of listings.

Exuma
Listings: 103 Sales: 6
Absorption rate: ½ unit per month or a 206 year’s supply of listings.

Other Bahama Islands
Listings: 41 Sales: 2
Absorption rate: 1/6 unit per month or a 246 year’s supply of listings.

This is certainly an interesting exercise. Certainly one that makes you go “hmmm…”, and does not necessarily paint a very rosy picture, plus presenting the data in this method and does not allow for improvements to or adjustments in market conditions. Additionally, it is necessary to keep in mind that the Bahamian real estate market is maturing market. However, it does demonstrate that even amidst global challenge Nassau’s real estate market continues to chug along steadily. This bodes exceptionally well for future growth and activity as world’s economy settles.

Another market worth taking a look at is Grand Bahama. The numbers polled for the period above show that the activity in this market has been hit hard. This is possibly due to a ‘triple punch’ of imposing factors encompassing the world’s economic condition, pressures from the government and the embattlement with the heirs of the St. George estate. However, while the rate of activity in this exercise does not reflect Freeport’s historically vibrant market and notably high sales volume, there appears to be some very strong light beaming at the end of Freeport’s tunnel. The parties involved in the Port’s ownership appear to be resolving issues and a potential buyout in the works could bring renewed development and energy. Additionally, as the world economy slowly improves, it appears that the government will be providing better support in the near future. Freeport’s exceptional infrastructure make it poised for exponential growth and recovery.

After these markets, the Abaco market presents the healthiest investor confidence. In our current exercise, a 27 year supply of listings is not a good position to be in, but if you remove the percentage of the non-serious sellers, those who are ‘just fishing’, from the equation, a 13 year supply is about right for such a small island community. Indeed, a closer look reveals that a 13 year supply is very similar to the ‘pre-bust’ market levels.

Also showing exceptional potential is Eleuthera. This naturally beautiful island is in a relatively healthy position for growth. While Exuma is still in recovery mode from the boom/bust of the Emerald Bay Four Seasons marriage. Yet, Sandals is beginning to breathe life into this other phenomenally gorgeous locale.

In closing, I urge readers to remember that the numbers presented here do not include sales that occur outside of the realm of the MLS. The Multiple Listing Service of the Bahamas remains in its infancy stage and the transparency that it is bringing to the marketplace is still being absorbed by its participants.

What to take home? If you are selling, make sure you price very aggressively or not at all. If you are buying, now is your time. If you are investing, you should be picking up the phone to call me now.

March 2, 2011

Expansion slated for Bimini Bay Resort


March 1, 2011 – The Nassau Guardian reported that an 80- to 100-room boutique hotel expansion is being planned for the Bimini Bay Resort and Marina, with developer RockResorts http://rockresorts.com/eyeing a 2014 opening for the hotel and amenities to come on stream by summer.

RockResorts features a variety of luxury hotels – from snug mountain hideaways to colorfulhigh-desert sanctuaries to dazzling island retreats – in spectacular locations throughout the U.S. and Caribbean.

The expansion of the Bimini Bay Resort will feature a RockResorts Spa, additional restaurants, a beach club and environmental and sustainability projects on the island. Once the RockResorts hotel and spa are developed and completed, the entire resort will be branded as a RockResort, according to a statement sent to Guardian Business yesterday.

Currently the existing Bimini Bay 350-room resort boasts the largest deepwater marina in The Bahamas.

Check out some listings we have in Bimini

February 23, 2011

What a dive: The underwater realm that inspired James Cameron’s new 3D film Sanctum

Monday, 21 February 2011 09:17

By Chris Hall / Daily Mail UK

This is a real photograph from one of the most mysterious environments in the world:

80ft below the surface, the Cascade room in Dan’s Cave, on Abaco Island in the Bahamas, is one of the most sensational chambers in the cave system

80ft below the surface, the Cascade room in Dan’s Cave, on Abaco Island in the Bahamas, is one of the most sensational chambers in the cave system

No, it’s not a still from Sanctum – although James Cameron’s new diving film was inspired by a near-catastrophic expedition by the man who took these pictures, Wes C Skiles.

This is a real photograph from one of the most mysterious environments in the world. You could visit Abaco Island, in the Bahamas, and have no idea that beneath you lies this vast network of caves, accessible by as many as a thousand ‘blue holes’ – submerged vertical caves peppered with entrances to this forbidding domain.

Exploring these passages is the diving equivalent of climbing K2 – you’ve got to be exceptionally well trained and well prepared. Even then, safety is no guarantee; Wes C Skiles died during a dive last summer. Sanctum is dedicated to him.

Of the 1,000 or so blue holes in the Bahamas, fewer than 20 per cent have been investigated, and almost none fully explored. It’s a perilous mission to undertake; the caves are pitch black, vast and labyrinthine: the deepest blue holes can be 600ft deep, and the connecting caves run on for thousands of feet in all directions.

Divers maintain a taut safety line at all times. Without it, it could be nigh on impossible to find your way out before your air supply runs out. Divers carry three tanks of nitrox mix – one to use on the way in, one on the way out, and one for emergencies – and three lights, which are used to communicate as well as navigate. Standard practice states that if any one light fails for any diver, the whole dive is called off.

In Sawmill Sink, another of Abaco's blue holes, bacteria colour the water a violent red, and signal the presence of hydrogen sulphide clouds

February 22, 2011

Bahamas Breaks Ground on $3.4 Billion Baha Mar Resort


February 21, 2011 10:22 PM

An official groundbreaking was held in the Bahamas on Monday for Baha Mar, a 1,000-acre, $3.4 billion resort, gaming and entertainment complex, slated to open in late 2014. Present at the ceremony were T. Brent Symonette, deputy prime minister; Vincent Vanderpool-Wallace, minister of tourism and aviation; Li Ruogu, chairman and president of the Export-Import Bank of China; and Hu Dingxian, ambassador of the People’s Republic of China to the Bahamas.

The upscale resort will feature hotel properties from Rosewood Hotels & Resorts, Morgans Hotel Group and Hyatt Hotels & Resorts, and will also feature a world-class casino hotel, for a total of 2,250 new hotel rooms. Baha Mar will also include the Bahamas’ largest convention center, with 200,000 square feet of space. Other facilities will include a 50,000-square-foot retail village combining an upscale shopping experience with Bahamian arts and crafts, branded restaurants and entertainment venues, and a 20-acre Eco Water Park and pool experience, three spas and an 18-hole Jack Nicklaus Signature golf. Baha Mar will create 12,000 new jobs generate more than $305 million in annual wages, raising the average annual income for a Bahamian family from $29,000 to $33,500, according to the project organizers, who added that the resort will contribute almost $1 billion to the local economy in its first year.
For more information, visit www.bahamar.com

February 16, 2011

The Bahamas Women’s Open

The Bahamas is well known in the world of Sports, especially Track and Field. However, Tennis has been making a major splash, thanks to our very own Mark Knowles (son of Vicky Knowles-Andrews and brother to Samara Albury, HG Christie’s 2010 Top Producers for Nassau and Paradise Island)who has been representing the Bahamas on the International circuit for almost two decades.

Now for the first time in our history, the Bahamas is set to host a major International Women’s Professional Tennis tournament, The Bahamas Open.

The International Tennis Federation has awarded the Bahamas a one-year sanction to host a Pro Women’s tennis tournament, in anticipation that the Bahamas can be a regular tour stop on the International tennis circuit.

This historic event will take place on March 14th, 2011 to March 19th, 2011. The qualifying rounds will start on Friday, March 11th, 2011. The top 100 women pro players in the world are invited to this event, and there will be Singles and Doubles. Almost half of the top 15 in the world are expected to participate in this event as well, even though this is not a mandatory event for them.

The Bahamas Open will feature a classic display of professional tennis for the first time in our history. No other country in the Caribbean have held a tournament of this size either, and the Bahamas is coordinating with our neighbors to host this once-in-a-lifetime event, for the benefit and enjoyment of all. And, even though the prize money is only $100,000.00, the emphasis is on staging a memorable tennis classic, that the world will recognize the Bahamas as a major player in international tennis.

Read more…

http://www.thebahamasopen.com/

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