Connect with us

Bahamas News

Nation’s Largest Privately Held Island Goes on Online Auction

Published

on

Bahamas Tops Post-COVID Destination Choices

 

#TheBahamas, June 28, 2022 – It’s not often that a once in a lifetime opportunity presents itself twice, but that’s exactly what’s happened in the case of Little Ragged Island.

The remote isle in the southern Bahamas is back on the market and has what it takes to draw the attention of the world’s wealthiest seeking a private tropical haven for personal pleasure or development potential.

The isle with an exotic feel and easy access to multiple airports short boat rides away is the largest private island up for sale in The Bahamas, a 100,000-mile open ocean archipelago that has remained a coveted destination among those seeking luxurious, secluded and easily accessible getaways.

According to industry analysts, interest is expected to be high when the island hits the online auction site this week with bidding opening July 25 for four days.

While COVID took a significant toll on the tourism-dependent economy, pent-up demand in the wake of early pandemic lockdowns continues to drive a real estate boom that has swept across the country’s many islands and cays — famed for their turquoise waters and hailed by former NASA Astronaut Scott Kelly as the “most beautiful place from space.”

“Private islands in The Bahamas have long been regarded as a premier choice for anyone in search of the ultimate getaway, and St. Andrew’s or Little Ragged as it is commonly called is a fisherman’s and diver’s paradise,” said Sotheby’s Concierge Auctions Vice President of Business Development Danny Prell.

“Located in the Ragged Island chain, the 712-acre island, with its secluded coves and beaches is unlike anything on the market, away from it all, but only a two-hour flight from Miami. That lends a feeling of true remoteness, while maintaining advantages like easy access from key markets and an English-speaking local population.”

Bahamas Realty’s Stuart Halbert, the local real estate agent for the listing, said he believes development opportunities for Little Ragged are limited only to one’s imagination.

“This is the perfect blank canvas for a dream project such as a private residential settlement or a boutique resort with a large marina,” he said.

The award-winning agent said St. Andrew’s Island has great potential due to its topography, good elevations, beautiful beaches and superb fishing.  Halbert also noted that the island could be perfect for an eco-resort, describing the natural wildlife as “abundant” and noting that it has excellent snorkeling and diving potential.

Little Ragged Island’s location, just a mile from the Duncan Town airport, means great accessibility for transporting supplies to the island and accommodating workers while developing the island.

Though Little Ragged Island was grabbed up in an auction last year, global market conditions have landed it back on the market, presenting those who missed out on the initial opportunity with a second chance. It’s not the first time Sotheby’s Concierge Auctions has sold the same property twice. There have been cases, executives said, when a highly desirable property changes hands three times, all by online auction, one of the fastest growing marketing tools for exclusive properties in the real estate world.

“One of the reasons we have enjoyed the growth we have and now the affiliation with the famed international auction master of art and estates, Sotheby’s, not to be confused with the real estate franchise by the same name, is that we are extremely selective in what we accept to represent,” explained Prell. Quality and fair market pricing are prerequisites, he noted. And where once auctions were considered a last-ditch effort, today they are anything but. In fact, many in the rarified upper air of high-end markets rely on auctions to bring the most interesting, objectively-priced unique properties to market knowing that the curated database includes the top 1% of the world’s wealthiest and their representatives or agents.

“Of every 20 properties or estates offered to the online auction firm, Sotheby’s Concierge Auctions turns down 18,” Prell says.

“The 10% of properties we do take must have that special something that makes it Sotheby’s Concierge Auctions quality,” “Only then will one of our digital marketing and sales teams begin the process of preparing for the sale, always aligning with a local agent, working the database, understanding who the offering and the price point will appeal to, qualifying them for the bidding process which requires a deposit to participate and then watching the excitement unfold online.”

Once up on the Sotheby’s Concierge Auctions website, the sale of a property takes on a life of its own with a clock ticking and prices climbing. Sotheby’s Concierge Auctions has successfully auctioned off numerous properties in The Bahamas, while maintaining its commitment to working with Bahamian agents for each transaction. Little Ragged Island is selling without reserve.

To register or follow the auction, click on www.casothebys.com/auctions/r1-st-andrews-little-ragged-island-bahamas.

 

Caption: Twice in a lifetime opportunity – Little Ragged Island, also known as St. Andrew’s, is back on the market as a unique opportunity to own a piece of paradise in the southern Bahamas. It will be offered for sale to the highest bidder without reserve next month by Sotheby’s Concierge Auctions in conjunction with Bahamas Realty’s Stuart Halbert. The 712-acre island with two fresh water springs is the largest privately held island currently for sale in The Bahamas. Photo by Brett Davis for DPA

 

Release: Bahamas Realty

Continue Reading

Bahamas News

GBPA Statement from Ian Rolle, President

Published

on

Re:  GBPA’s Response to fire in the International Bazaar

 

#TheBahamas, August 10, 2022 – The Grand Bahama Port Authority is aware of the recent fire at the International Bazaar.

The GBPA has engaged, and continues to engage, with operators of the International Bazaar, which include representatives of the Bazaar Association and several property owners, so that we can continue demolition exercises on the dilapidated structures and buildings.

The GBPA is acutely aware of the need to demolish derelict structures within the International Bazaar for the safety of all businesses and visitors. We have performed demolitions in the past at our own cost, most recently in February 2022 when we, in partnership with owners, demolished fire-damaged buildings in the Oriental Section. We have also written to numerous property owners of dilapidated structures over the years to sensitize them to the need to repair or demolish their buildings.

In addition, we have engaged the Government of the Bahamas in advance discussions to approve our requested amendments of the Building and Sanitary bylaws, which would enable GBPA to execute more demolitions in a timely manner and recoup the associated costs.

With the requested bylaw amendments in place, GBPA can continue to make consistent efforts to address the remainder of derelict buildings in the International Bazaar and other dilapidated structures within the city.

The GBPA itself has never owned any part of the International Bazaar but has historically subsidized the Bazaar for many years when owners were no longer maintaining its communal areas.

Continue Reading

Bahamas News

Beneath the Waves’ summer camp inspires young Bahamians to become stewards of the environment

Published

on

#TheBahamas, August 10, 2022 – While the waters near Great Exuma are renowned for their unmatched beauty, last weekend, more than 40 students spent a day with Beneath the Waves learning the deeper value of the marine ecosystems that surround their islands and act as a bedrock for the Bahamian economy and way of life.

As participants in the non-profit’s summer camp, the young students learned about mangrove and coral reef habitats and the many species that live among them.

They heard about some of Beneath the Waves’ research, including studies of sharks, seagrass and blue carbon, and research methods like underwater video surveys.

Coral Vita Conservancy, which has been working relentlessly to restore coral reefs off Grand Bahama, sent team member Joe Oliver , Director of Restoration Operations, to assist with the camp and provide in-depth information on corals in The Bahamas.

Team ECCO, a North Carolina-based ocean education organization, also provided in-depth lessons on invertebrates and fish.

Long after the taste of ice cream at the end-of-day party has faded, campers will remember learning how to tag a lifelike shark. And they’ll wear their camp t-shirts with pride, remembering this is the day they learned to value the water all around them and what lies beneath the waves.

Eleven-year-old twin sisters Kassidy and Kaylee Burrows described the camp as a highlight of their summer vacation.

“We had a lot of fun,” said Kassidy. “And we learned all about sponges, the water, mangroves, coral reefs — how they protect animals and how they protect the shore — and also about animals themselves, aquatic animals, for example, sea anemones, corals, sponges and sharks.”

Kassidy was especially enthused to share her experience with helping to plant new mangroves.

“We found out how mangrove seeds can actually disperse into the water,” she said.

“And I thought they were going to be small seeds, but, in my opinion, they looked like asparagus kind of.

“We also got to go in the water and plant new mangroves.”

Beneath the Waves’ scientists have been studying The Bahamas’ waters for more than a decade, having helped with the creation and management of conservation policies, including the legislation that made the country’s waters a shark sanctuary in 2011.

The non-governmental organization knows that in continuing efforts to protect The Bahamas’ greatest asset, its natural environment, community buy-in is vital.

And in that context, the value of helping young Bahamians gain these kinds of hands-on experiences and lessons, ones they’ll undoubtedly carry with them through life, can’t be overstated.

Kaylee Burrows is already brainstorming the ways she can apply what she learned in her future career.

While the mangroves piqued her sister’s interest, Kaylee said she was fascinated by coral reefs and the important role they play on a global scale, though she noted they don’t seem to be sufficiently appreciated.

“I learned that The Bahamas has some of the biggest coral reefs in the world,” she said. “We actually put pieces of coral on a pipe to help build a platform for the coral. The reason I chose coral reefs over all of the topics is because we the people of the Bahamas, don’t even recognize how important our islands are. These coral reefs are very beneficial to the whole world.”

Kaylee said she hopes to one day become a veterinarian and an author.

“As a vet, I can help not just land animals, but marine animals too,” she said. “As an author, I can write books on marine biology. I think this experience helped with my future career, and I’m forever grateful.”

Beneath the Waves Managing Director Jamie Fitzgerald said plans are underway to make the camp an annual event.

“We look forward to being able to work more closely with local schools in the islands we frequent, such as Exuma and Nassau, to develop educational materials around sharks and marine science, and to foster opportunities for internships and future careers for any aspiring Bahamian marine biologists,” Fitzgerald said.

 

Photo Captions: 

Header: Hands-on experience – Exuma students planting mangroves with the help of research scientists from Beneath the Waves  — just one of the many memorable moments from the non-profit’s summer camp that was held on July 23. (Photos courtesy of Beneath the Waves)

1st insert: Learning about coral — With the help of experts from Coral Vita, a Grand Bahama-based organization working to restore reefs near the island, students built plaforms for coral. (Photos courtesy of Beneath the Waves)

2nd insert: More to come  – Camp leaders and participants posed with the inflatable shark, as the first of what is hoped to be many Beneath the Waves summer camps came to an end. (Photos courtesy of Beneath the Waves)

 

Release: Beneath the Waves

Continue Reading

Bahamas News

Caribbean Rising: Regional Heads of Government Meet in The Bahamas Aug 16-17 to discuss Caribbean position on Climate Change Mitigation

Published

on

#TheBahamas, August 5, 2022 – The Bahamas will host the first Regional Meeting of the Heads of Government of the Caribbean in preparation for COP27 in Nassau, The Bahamas on August 16-17, 2022.

The inaugural event is being introduced by the Government of The Bahamas with the aim of devising a regional position on climate change mitigation ahead of COP 27 which will take place in Sharm El-Sheikh, Egypt November 6-20, 2022.

Invited participants include the Head of State from the following countries: Antigua and Barbuda, Anguilla,

Barbados, Belize, Bermuda, British Virgin Islands, Cayman, Cuba, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago and Turks and Caicos.

The Government of The Bahamas intends to establish the meeting as an annual event and will seek to have it instituted as a regular meeting on calendar of the United Nations Framework Convention on Climate Change Convention (UNFCCC).

“The Bahamas is introducing this conference as we seek to get results in the climate change fight,” Prime Minister Hon. Philip Davis, Prime Minister of The Bahamas said ahead of the talks.

“The Bahamas, along with the region, has lobbied year after year, meeting after meeting, as we sought for the world to acknowledge our vulnerable position.”

“This meeting will position the Caribbean region to take control of our fate and present a unified position to the world at COP27,” Prime Minister Davis added.

The meeting is also intended to establish a Caribbean response exclusive of the conventional Latin

America-Caribbean pairing in order to better reflect common geographical and geo-political issues of Caribbean states.

“What we’ve been lacking regionally is a strategy that would aid us in our negotiation process when we go to the conferences of the parties referred to as COPs,” says Rochelle Newbold, Special Advisor on Climate Change and Environmental Matters and Climate Tsar in the Office of the Prime Minister in The Bahamas.

“This year will be COP number 27 and, as a region, we have never put forward a strategy document or an intent of how we want to deal with the issues that we face within the region collectively,” Newbold added.

The conference agenda will also focus on renewable energy, energy security, climate adaptation, climate financing, loss and damage due to tropical weather systems and establishing a framework for the sale of carbon credits.

Delegates attending COP26 in Glasgow, Scotland in December 2021 signed off on a global climate agreement to reduce greenhouse gas emissions and counter global warming by limiting the temperature rise on Earth to a 1.5 degrees Celsius threshold.

The global warming phenomenon has been linked to more frequent and aggressive hurricanes in the Caribbean, which have subjected the region to billions of dollars in damage and bound countries to burdensome loan commitments.

According to the Assessment of the Effects and Impacts of Hurricane Dorian in The Bahamas report issued by the Inter-American Development Bank in March 2022,       damage and losses from Hurricane Dorian amounted to US$3.4 billion, a quarter of the country’s GDP.

A heat wave rolling across the United States and Europe is also being attributed to rising temperatures.

The UK recorded temperatures of over 40°C (104°F) for the first time in July 2022, according to local forecasters.

“We know that if we reach that 1.5°C and we exceed it, everything changes for everybody. While land-locked countries and large continents like South America will experience a change, island-states will experience that change three and four-fold.”

“With this meeting we will have all of those who face the same threat level sitting down together, discussing options, considering what is being suggested and how realistic this will be. For us, this is a fundamental thing that we should have been doing a long time ago,” Newbold said.

At the conclusion of the meeting, a Chair’s Summary will be made available detailing the scope of the discussions as well as key messages and ideas that emerge. Additionally, the region plans to launch an initiative at COP27 to advance advocacy efforts on behalf of Caribbean States.

 

Photo Caption: During the weekly Press Briefing, at his Office, on August 4, 2022, Prime Minister and Minister of Finance the Hon. Philip Davis announced that The Bahamas will host the Regional Caribbean Heads of Government Meeting, 16-17 August, 2022 at Baha Mar Resort.  (BIS Photos/Eric Rose)

 

For Press Inquiries:

Clint Watson, Press Secretary

Office of The Prime Minister

Commonwealth of The Bahamas clintwatson@bahamas.gov.bs

Continue Reading

FIND US ON FACEBOOK

TRENDING