Author Archives: Turks & Caicos Sotheby's International Realty

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About Turks & Caicos Sotheby's International Realty

Offering the very best Turks & Caicos real estate, Turks & Caicos Sotheby’s International Realty is the leading luxury real estate brokerage firm in the Turks & Caicos Islands. We provide an unprecedented level of product and market expertise in all facets of Turks & Caicos real estate properties, including condominium development, homes, villas and land. Turks & Caicos Sotheby’s International Realty is the result of a merger with Connolly Zahm Properties, which featured the CZP Collection – the finest collection of luxury condominiums – and Turks & Caicos Realty, which began operations at the beginning of 1990 and was a leader in luxury real estate properties, home and villa real estate sales, as well as, the most recent merger with Tropical Paradise Realty which brought seven more experienced real estate agents to our office strengthening our market position and our brand. TCSIR with its extensive experience, can optimally assist you in achieving your Turks & Caicos real estate ownership and Turks & Caicos real estate investment goals.

Turks & Caicos Real Estate Association – TCREA 2023 Annual General Meeting

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The TCREA Annual General Meeting of 2023, held on November 16th, 2023, at Opus, garnered a positive response with the Conference Room brimming with agents.

The Executive Members for 2022/2023 expressed formal gratitude as they concluded a successful year. The former Vice President, Robert Greenwood, Director & Senior Broker at the Regency-Christie’s International Real Estate extended thanks to each agent and broker for their contributions throughout the year. He encouraged everyone to strive for even greater achievements as they embark on a dedicated new era, emphasizing the importance of more volunteers for the association’s betterment. “I know everyone is busy, but the association needs you,” he stressed.

Joe Zahm, the President of Turks & Caicos Sotheby’s International Realty, acknowledged Veronica Delancy at Keller Williams Turks and Caicos Real Estate for arranging successful open house tours each year. Joe also highlighted the success of the TCREA/MLS, positioning it as one of the most sophisticated MLS systems in the Caribbean.

The TCREA Office Administrator and MLS Coordinator, Ashley Simmons later conducted the formal voting for the new 2024 Executive Committee. Several agents were nominated for the roles of President, Vice President, Treasurer, and Secretary. Following a mix of self-nominations and votes, the 2024 Executive Committee was announced:

  • President: Ian Hurdle, Founder & Director of The Agency Turks and Caicos
  • Vice President: Latoya Jones-Harvey, Grace Bay Realty
  • Treasurer: Richard Sankar, Turks & Caicos Sotheby’s International Realty
  • Secretary: Kirbymae Been Fulford, Christie’s International Real Estate
  • Ambassador: Toreth Jackson, Keller Williams Turks & Caicos

The AGM meeting adjourned with a strong sense of accomplishment. The newly elected President, Ian Hurdle, expressed his commitment to the role, pledging to follow in the footsteps of the outstanding presidents who preceded him.

The Beachfront Enhancement Project at The Strand

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The Strand is making incredible progress with construction and Turks & Caicos Sotheby’s International Realty is pleased to share the latest updates on the beachfront enhancement project.

The much-anticipated beachfront enhancement project at The Strand, which encompass the T Head groin and the pocket beach groins have now been completed. This significant addition to the resort marks a transformative milestone, introducing a unique amenity that will play a pivotal role in establishing the beachfront at the resort in Cooper Jack Bay.

The work on the T Head groin commenced in mid-September was successfully finalized within four weeks. The collaboration involved various stakeholders, including the marine engineers at CDE Group who helped to design the project, Ralph Dietsche and Wes Rambara of CBMS who oversaw the construction as well as Ian Astwood, from the Department of Planning and The DECR with their valuable guidance.

The Strand, satisfied with the completed work, said that they had already witnessed a natural accumulation of sand on the shores, enhancing the picturesque waterfront. “The next exciting step in the project involves the placement of 70,000 cubic yards of sand, scheduled to commence in January 2024”, said Managing Director, Developer & Project Manager John Fair. While they encountered some challenge, The Strand is delighted with the outcome to date.

What’s next for The Strand? The Strand is looking forward to the clubhouse, which is nearing completion with windows and doors already installed and swiftly progressing to the floor finishes. The clubhouse will serve as the epicenter of The Strand with exciting surprises to be shared with owners and the community in due course.

A heartfelt gratitude is poured out to the dedicated construction team, the patient owners, and the Turks and Caicos Islands government for placing their trust in the vision of the project and for entrusting The Strand as stewards of this magnificent piece of Providenciales.

Explore more on The Strand at www.turksandcaicossir.com

Villa de Ligera: A Stunning Home with 150 Feet of Ocean Frontage on Turtle Tail

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Boasting an unobstructed ocean view on Turtle Tail, Villa de Ligera is one of the few homes on Turtle Tail with its own private beach.

On Wednesday the 8th of November 2023, listing agent: Patrick Staples along with Britney Gardiner-Whymns welcomed esteemed TCREA guests to this stunning property.

A successful vacation villa that sleeps up to 12 people, Villa de Ligera (Villa of Light) has a 5,320 sq. ft. interior with 2,950 sq. ft. exterior for a total 8,270 sq. ft. Uniquely positioned, this 2-story Villa boasts spectacular views of the sparkling turquoise waters of the Caicos Banks to the south and the tranquil views of the Juba Point Salina on the north side. Practically every room in the Villa has a view of the water! Built on 1 acre in 2003, this 6 bedroom, 4.5 bathroom Villa went through major renovations and upgrades in 2017 inside and out.

Besides the huge open living spaces and many sitting areas throughout the Villa, the main attraction is the oceanside exterior with a huge pool and patio, covered lanai, a gazebo, and outdoor BBQ area as well as an elevated white sand beach leading to steps that deliver you into the shallow turquoise waters beyond the pool. The property borders a dedicated green space to the east and enjoys unencumbered access along a stone pathway to a beautiful, natural white sand beach. The interior of Villa de Ligera is opulent with a soaring 2 story open space and a welcoming sitting area at the entrance that leads to a calming and well-furnished living room area uniquely decorated with rich hardwood on the wall and ceiling.

Find the full listing here.

Contact the listing agent here.

A successful Open House at Paparazzi: Turtle Cove, Providenciales

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Bradley Theodore,Tina Booroff, Michael Fenimore, Andy Stephens, Richard Sankar

Paparazzi hosted its first open house event on Friday, November 3rd and it was a hit. Invited agents and friends were cordially received by Richard Sankar, Michael Fenimore, and Simone Rigby, who showcased this remarkable prime, multi-level, multi-unit commercial property.

Brimming with opportunities, Paparazzi is location in Turtle Cove just below the Queen Angel resort and condominiums. This area is home to great restaurants such as Mango Reef, Baci’s and Sharkbite bar & grill making it an ideal location for a thriving venture.

This complex constructed in 2006 sits on 0.75 acres of land with 15,830 sq ft of interior space. This building comprises a downstairs casino floor, second floor restaurant and third floor night club all with elegant, modern outdoor patios. The ground floor which is currently set up as a casino is equipped with general reception area, private offices, bathroom facilities, roulette tables, flat screen TV’s and cash dispensing areas, all that an investor will need to start business immediately. The restaurant located on the second floor is immaculate. The unit is set up for romantic evening dining in the expansive dining room along with a small balcony for cocktails before dinner. This level is complete with a full bathroom containing high end fixtures and a commercial grade bespoke kitchen. The third level is the nightclub/bar area perfect for ending an enchanting evening with distant views of the Smiths reef and marina.

Find the full listing on www.turksandcaicossir.com

Contact the listing agents: Michael Fenimore and Richard Sankar

More from the Open House

CMEx To Honor Stan Hartling

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Stan Hartling is a recipient of the Turks and Caicos Islands Human Rights Commission’s Humanitarian Award for sterling service to humanity

Local resort and hospitality giant, Stan Hartling, who is also a prominent figure in the Caribbean’s hospitality industry, is set to receive an honor at the Caribbean Media Exchange (CMEx) Leadership Awards and Fundraiser on December 1, 2023, in Miami, Florida.

CMEx serves as a platform to recognize and celebrate individuals who have made significant contributions to the Caribbean tourism, hospitality, and communications sectors.

Stan Hartling is well-known as the head of the Hartling Group, which encompasses several notable properties, including the Shore Club, The Palms, and the Sands. He has achieved numerous accolades throughout his career, including the prestigious Humanitarian Award from the local Human Rights Commission, acknowledging his tireless dedication to serving the community.

Two Saturday’s ago, one of Hartling’s properties, The Palms, was transformed into sea of pink, with the hosting of the annual In The Pink Cancer Breast Cancer Awareness fundraising sale extravaganza. Later this year that same property is scheduled to host the TCI Red Cross signature event – Red Hot Fashion – a fundraising fashion show to raise well-needed funds for the Red Cross. That same property also hosted the last High School Career Symposium.

The 2023 CMEx honorees represent a diverse group of individuals who have made extraordinary contributions to the Caribbean and beyond. Among them are media pioneers such as Julian Rogers, a Barbadian based in Jamaica, and Pat Montague, a Jamaican-American based in Florida. In addition to media practitioners, heads of prominent regional tourism institutions will also be recognized at this luncheon awards ceremony.

Notable figures like Nicola Madden-Greig, President of the Caribbean Hotel and Tourism Association; Michele Paige, President of the Florida-Caribbean Cruise Association; and Dona Regis-Prosper, the first female Secretary-General & CEO of the Caribbean Tourism Organization (CTO) are among the esteemed honorees. The event will also include a live travel auction, with the proceeds dedicated to supporting tourism education and charitable causes within the Caribbean.

Other distinguished honorees include Rosa Harris, Director of Tourism of the Cayman Islands and Chairman of CTO’s Board of Directors, and Joy Jibrilu, CEO of Nassau Paradise Island Promotion Board, who is the first woman to serve in this role. Beverly Nicolson-Doty, formerly the CTO Chairman and Commissioner of the U.S. Virgin Islands Department of Tourism and now CEO of the Florida-based Figment Design advertising agency, will also be recognized.

The list of awardees also features pioneering hoteliers, including Ewald Biemans, Owner & CEO of Bucuti & Tara Beach Resort in Aruba, and Kevin O’Reggio, a Jamaican-American serving as the Strategic Account Director of Wyndham Hotels & Resorts, Inc.

CMEx is dedicated to strengthening the capacity of the media, government, the travel and tourism industry, and local communities to ensure that the Caribbean region and its people benefit from the essential tourism industry. The organization also extends its support to both Caribbean and American communities through the sharing of expertise, financial contributions, and in-kind assistance.

This year’s event emphasizes collaboration with various organizations to raise funds for educational initiatives aimed at empowering the region’s youth and tourism professionals. CMEx President Bevan Springer, who also leads Marketplace Excellence, a global public relations, marketing, and media company, expressed this commitment to supporting educational initiatives and the tourism sector in the Caribbean and beyond.

Source: https://www.newslinetci.com/

Introducing Frits & Jenny Hannenberg

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The Strand, Turks and Caicos is pleased to welcome the newest members to their team: Frits and Jenny Hannenberg.

This hospitality powerhouse duo will serve as our General Manager and Hospitality Manager at The Strand, which will be fully operational by Fall of 2024.

Frits and Jenny each have more than 20 years of experience in luxury hospitality. Most recently, Frits was the Managing Director of The Abaco Club on Winding Bay in the Bahamas and was the opening General Manager for The Shore Club. Together the couple have brought their hospitality expertise to luxury private islands including Fregate Island in the Seychelles and Mustique Island in St. Vincent.

The Strand is exceptionally delighted to welcome Frits and Jenny to our team, as their invaluable experience will play a key role in their daily operation.

More about The Strand

Overlooking the sapphire blue waters of Cooper Jack Bay with dramatic vistas and an awe-inspiring setting, The Strand is a hidden retreat complete with private Residences, Villas, and Estates, a swimmable shoreline, destination dining, and crafted experiences specifically for reconnection.

Active listings

Click here to find all current listings of The Strand.

Record-Breaking Residential Sale for Turks & Caicos – Sells Off-Market at $33.5 Million

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Sole E Mare

12 Beds | 13 Baths | 20,000 Sq. Ft.

$33,500,000

Tranquility Lane, Providenciales

As continued evidence of the high demand and dearth of existing high-end homes for sale in the Turks & Caicos Islands, the recent off-market sale of Sole E Mare on Leeward’s coveted north shore is a testament to the continued growth and desirability of the best-in-class real estate in the jurisdiction. True to its name evoking sun and sea, the home sits on an impeccable white sandy beach known as Pelican Beach which is an extension of world-renowned Grace Bay.

Sole E Mare’s idyllic site features a 270-degree view from its point with over 220’ of frontage, sitting proud of its neighbors to the west and enjoying a sunset-facing view of Grace Bay and its iconic barrier reef.

The sale marks the first residential re-sale above $30 million in the TCI and was the culmination of a painstaking rebuild process and exceptionally well-executed design, showcasing the type of design and construction that was simply not to be found even five years ago in our jurisdiction. A recently completed beach revetment and additional new investment point to continued upward trending price values in the area.

The majority of high-end sales this year to date occurred in the pre-construction, luxury new development, sector which is actively servicing the discerning demand for high quality homes amidst an otherwise very limited inventory of available and completed homes – and vacant waterfront sites. The potential time involved and challenges that can accompany a custom project of this nature increased the attraction of this turn-key newly completed masterpiece for its new owners and led to a swift closing.

About this amazing estate

The 12-bedroom estate spans about 12,000 interior square feet across the main house and a guest house/caretaker house, and 20,000 total under roof (including vast covered terraces) with more than 30,000 sq. ft. of finished areas including a 100’ long all-mosaic pool featuring 440’ of full surround infinity-edge. A dining table custom-made with a live edge solid slab of 100-year-old wood, hand-picked by the sellers and even personally trucked from its source, was a feat in and of itself. A signature staircase, private salon, extensive outdoor entertaining and lounge areas, solar panel and Tesla power wall system for uninterrupted green energy, are amongst the many exquisite design elements and forward-thinking features throughout.

Selling Agent

Nina Siegenthaler

Vice President Turks & Caicos Sotheby’s International Realty

T: 649.946.4474

C: 649.231.0707

nina@tcsothebysrealty.com

Sold Date

October 2023

2023 Turks and Caicos Real Estate – 3rd Quarter Year-To-Date Comparison

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The Third Quarter Trends Sharply Upwards

While most market followers focus on Closed transactions when evaluating real estate markets, brokers, consultants, and developers take an even closer look at Conditional and Pending transactions. Conditional transactions are Accepted Offers not yet Under Contract (Pendings) and both are really a harbinger of things to come.

Quarter 3 (usually our slowest quarter) outperformed expectations and further indicates that we are increasingly a year-round market and less of a seasonal market insofar as real estate activity is concerned. Led by Single Family performance, Conditional dollar volume is up a whopping 443.65% Q3 2023 over Q3 2022 ($124,223,600) vs. ($22,850,000). Pending transactions are up 8.13% ($136,524,800 vs. $126,257,357).

This sharp rise is a real eye-opener during our typically slowest quarter, so let’s examine why: Many of these Conditional transactions are on the strength of our New Development projects led by Arc, South Bank, The Strand, The Loren, with The Point by Grace Bay Resorts and St. Regis soon to be substantially adding to the mix when their listings officially come to market. So, we should continue to see substantial rises in our Conditional Sales as our big projects pre-sell and start construction in 2024, with the Hyatt Andaz just breaking ground. This leads to our biggest differentiator in times of scarcity of (existing) inventory, and that is our awesome New Development pipeline, which promulgates our sustainable growth and satisfies a market hungry for luxury properties in TCI.

Regarding Closed transactions across all segments of the TCI market, our Q3, Y.T.D. numbers are up 10% over 2022 ($526,828,182 vs. $475,699,009), with Average prices up 49.76% ($1,572,621 vs. $1,050,009) and up 130% in the Single–Family segment ($3,492,489 vs. $1,492,127)! This is another “wow” moment and can be best explained next time you take a ride over to South Bank, The Strand, Peninsula Estate, Beach Enclave North Shore Ph 2 and others and see so many gorgeous new villas either just completed or nearing completion which have contributed to the closed numbers.

With strong demand and very scarce existing condo inventory, this aspect of the market continues to struggle (sales volume down 43.62% Y.T.D.), as there is very little re-sale activity and owners are holding on with a tight grip. When we do see quality re-sales come up, they sell quite quickly and often at record numbers. Two recent Shore Club sales are illustrative, as they each sold for over 25% higher than prior markers. However, as discussed above, these numbers should normalize as our new projects reach critical mass and start the construction and completion cycles.

As we continue to shepherd our new projects and succeed in all aspects of the market, we look forward to welcoming you back as we approach the holidays, and…introducing you to the Future of Real Estate in November.

Find Turks & Caicos Sotheby’s International Realty past Market Reports link here.

Link to PDF Report

Digital Flip-Book Link Here

About Turks & Caicos Sotheby’s International Realty
Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Over 40% of Arc Sky Villas now reserved

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Arc by Piero Lissoni, the final residential offering at South Bank

Arc, the final residential offering at South Bank, designed by master of contemporary architecture and interiors, Piero Lissoni, was inspired by the daily patterns of villa lifestyles and a sense of place. Arc not only embraces but also elevates the essence of secluded villa living, providing an unparalleled experience on the breathtaking oceanfront, nestled amidst nature yet welcoming the vast horizon.

Since sales opened, we have seen a substantial interest with six reservations, including the sale of all four-bedroom residences. Following this successful Founders Launch phase, introductory prices have since ended, and the remaining unit prices are available on request.

Each Sky Villa offers a unique layout and distinct design moments. Only two two-bedroom residences, a select number of three-bedroom and the final five-bedroom penthouse remain available for purchase.

The South Bank resort offers a range of diverse and relaxing amenities for all owners and guests to enjoy. With two signature restaurants and bars, cozy beachfront cabanas, a fire pit lounge, a marina, a second fitness center, an over-water spa, tennis and pickleball courts and two resort swimming pools, there is always somewhere to relax or explore at South Bank.

Contact us to discover more about Arc’s elevated waterfront living, designed by one of the world’s most renowned designers and serviced by one of the leading hospitality experts in the Caribbean.

See all active listings here.

See the latest availability here.

Please contact the following listing agents to arrange a private consultation.

Joe Zahm

President/Broker

c 649.231.3534 I joe@tcsothebysrealty.com

Nina Siegenthaler
Vice President/Associate Broker

c 649.231.0707 I nina@tcsothebysrealty.com

Patrick Staples
Real Estate Professional

c 649.432.3222 I patrick@tcsothebysrealty.com

Courtney Chapman
Sales Associates

c 649.431.9517 I courtney@tcsothebysrealty.com

Investing in the Turks and Caicos Islands

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Turtle Tail, Providenciales, Turks and Caicos Islands

Real Estate investment historically has proven to be a very profitable venture in the Caribbean and particularly in the Turks and Caicos Islands. 

Profitability can be realized through the generation of rental income, providing a positive cashflow or when selling an appreciated property at a profit. Whether you are a savvy venture capitalist or a discerning individual investor, real estate is a smart way to diversify your investment portfolio. However, identifying the ideal investment property and the right investment model, long term versus short term, are key factors when making a real estate investment decision.

Why investing in the Turks and Caicos Islands?

There are several benefits for investing in the Turks and Caicos Islands. The islands offer a unique combination of some of the world’s most beautiful waters, a diverse and intimate group of islands and cays, a historically low tax environment, high quality properties and wonderful accessibility from the United States and Canada, as well as one-stop flights from London. Here are some investment and lifestyle benefits:

  • No Income Taxes on revenue generated from property
  • No Capital Gains Tax on property transfers
  • No Estate or Inheritance Taxes
  • The United States dollar is the primary currency
  • No Corporate Taxes or Exchange Controls
  • A one time Stamp Duty charge
  • Steady appreciation in property values.
  • Steady increase over the past decade and is a top destination for travelers with many repeat visitors

Read more on the Turks & Caicos Sotheby’s International Realty latest Buyer’s Guide.

Active land listing on Providenciales

Providenciales is the most well-known of the Turks and Caicos Islands and is at the heart of economic activity, with a wide range of businesses as well as world class hotels, restaurants, retail outlets, golf, tennis and other sports facilities. The island offers residents, businesses and investors state of the art technological services, cable television, high speed internet as well as banks, legal and accounting firms and off-shore finance specialists. The national parks, secluded beaches, marinas and typical Caribbean settlements offer alternative tourism and other business opportunities in addition to the world-famous Grace Bay, seat of most of the tourism infrastructure. We’ve narrowed down six active listings for you. Please see below.

Prime Grace Bay Beachfront

Representing the only beachfront land available on the entire stretch of Grace Bay beach for private villa or hotel and tourism development, this nearly 3 acre-site boasts best-in-class pristine beachfront. With the surrounding precedents of single family residences, it is ideally slated for a low-density tourism related opportunity. There is no other land offering on the entire northern shore of Providenciales like this! Surrounded by high-end luxury residences and walking distance to Turtle Cove to the west and Wymara and West Bay Club and Grace Bay hotels and restaurants to the east. Full listing here.

2.9 Acres

286 Ft Ocean Frontage

$19.5M

Turtle Tail Beachfront

Turtle Tail Beachfront Introducing a rare opportunity to own a beachfront paradise in the coveted Turtle Tail, Turks & Caicos. Embrace the breathtaking vistas of the Caribbean Sea from your doorstep and create your dream haven on this pristine canvas. With direct access to the powdery white sands and crystalline waters, indulge in a lifestyle of tranquility and luxury. This exclusive beachfront gem presents an unrivaled chance to experience the best of island living in one of the world’s most sought-after destinations. Full listing here.

0.77 Acres

110 Ft Ocean Frontage

$2.1M

Elevated Turtle Tail Oceanfront Lot

Discover the majestic shoreline of Ocean Drive within this prestigious and exclusive Turtle Tail neighborhood. Elevations are over 40’ of elevation. Lot 58 is a rare and generously sized 1.11 acres, with magnificent 145’ of linear ocean frontage. Surrounded by significant homes and embracing jaw-dropping views of the southern shoreline and endless Caicos banks at all times of day, the site is slated for an exquisite home and site with ample opportunity to create one’s idyllic island lifestyle. Full listing here.

1.11 Acres

145 Ft Frontage

$2.33M

Turtle Tail Oceanfront

This coveted location provides commanding vistas of the resplendent turquoise waters spanning the Caicos Banks. The area has become a focal point of burgeoning demand and escalating value as discerning purchasers actively vie for opulent assets within this prized setting. Noteworthy is that the most substantial estate transaction within the vicinity has already exceeded the benchmark of $20 million. Full listing here.

0.83 Acres

160 Ft Frontage

$1.6M

Leeward Canal Font

Canal front land with expansive frontage located in the prestigious Leeward Development. Close to school, shopping, golf course, restaurants, grocery and Grace Bay. All utilities to lot line. Leeward Gardens host to 56 canal lots. Excellent for the boating enthusiasts. Full listing here.

0.61 Acres

200 Ft Frontage

1.59M

Long Bay Hills Oceanview

This beautiful ocean view lot located in Long Bay is a short distance to Long Bay Beach, neighboring multi-million dollar villas and the new Southbank development and marina. With its low-density residential zoning and high-end residential character this lot would be the perfect site for you to build your own peaceful oasis or a luxurious vacation rental, just a short drive to all amenities in Grace Bay including shopping, professional services, supermarket, banks, watersports, and an array of 5 star and casual dining restaurants. Full listing here.

3.1 Acres

Oceanview

$1.25M

Invest Turks and Caicos is dedicated to providing free and confidential advice and support, including: information on the local business climate; facilitating the investment process through liaison with key Government Departments; advice on Government incentives and concessions to investors; introductions to local service providers/suppliers; advice on immigration matters, including permanent residence certificates; and specific ongoing support following the set up of a business. Find out more on www.investturksandcaicos.tc

For more listings throughout the Turks and Caicos Islands, feel free to visit our website www.turksandcaicossir.com to get in touch with our expert Real Estate Associates.