We have been quietly busy at The Strand getting ready for groundbreaking. The entitlement process through COVID has been grueling but we are finally at the end of the process and ready to start building. In that light we wanted to update you on the progress:
~ Excavation of the Marina is underway and we will start building the road base for paving Cooper Jack Road within the next week or two. ~ Water and Power has been brought to the site and distributed along Cooper Jack Road and Seaview Drive. All of the transformers have been ordered. ~ Building permits for the Luxury and Grand Residences should be delivered this week with earthwork and construction starting immediately thereafter. ~ Building permits for the Villas A and B buildings, the amenities and infrastructure including the beach creation are expected by the end of the year. ~ We have approximately $50 million under reservation and contract and land sales will be starting within the next week. This is right where we wanted to be for the start of construction, between 20% and 25% pre-sales on a dollar value basis. Now that we are ready to start and have a strong handle on our costs, we will be very aggressive selling through the upcoming season and our current sales activity is the strongest it’s ever been.
Come and visit to see the progress firsthand. We always enjoy showing the property so come on down and have a glass of wine on the sales deck or view the property from the water on The Strand’s Boston Whaler!
Warm regards, John Fair Developer & Managing Director
For all of its challenges, 2021 has seen the South Bank family grow as people choose to call our relaxed and soulful marina community home. As South Bank comes to life with over 50 sales and reservations, we have elected to take the time to focus on construction, ensuring the highest level of service and quality for our owners. To achieve this, we will be pausing sales until the upcoming winter season.
Link here to view construction updates for each neighbourhood in South Bank.
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With 60% of the Boathouses now reserved and sold, the site preparations are well under way to allow for a commencement of the foundation works by the end of August. The ground levels of the Boathouse Peninsula have been raised to the final floor slab level and the excavation of the adjacent yacht basin are complete.
While Building A is fully sold out and only one corner unit remains, the Buildings B through E are also enjoying strong demand.
With start of construction, all 2 bedroom Boathouses are now offered with the rooftop terraces included. Additional square footage has been factored into the rooftop design making it over 600 sq. ft. in size. The possibility of offering an adjoining door between the two units to create a total of 5 bedrooms remains.
Prices range from $885,000 – $1,350,000.
The Lagoon Fully Sold Out
With the Lagoon neighorhood fully sold out, construction is well underway. Eleven villas have commenced, and by the end of August all eighteen will be under construction scheduled for completion by end of Q4 2022.
The Lagoon islands have been created and landscaped and gym and spa buildings will follow in due course.
Ocean Estate Over 60% Sold Out
South Bank is pleased to announce that over 60% of the Ocean Estate villas are sold out, with only one or two of each villa design remaining.
Construction at Ocean Estate Bluff Villa 03 and Shoal Villa 04 is underway with foundations poured and signature pool footings installed. Shoal Villa 08 will be complete in the Fall. Shoal Villa 11, 12, 15 and Reef Villa 17 site clearings are scheduled imminently and Banks Villa 16 is nearing ground floor level completion.
Beachfront – Beach Enclave North Shore – Phase 1 Completed and Phase 2 In Development
It all started with a desire to create a legacy built on a strong foundation, exemplary fundamentals, a strong professional team and an extraordinary location. The developer’s vision was to combine a home environment with the services and amenities of a condominium. Vacation home-owners wanted more than a piece of real estate, they wanted bespoke services and dedicated home management services. The Beach Enclave design ethos with low density and floorplans that seamlessly blend indoor with outdoor living spaces, modern but warm décor combined with fun amenities, maintains its successful path. Since the first launch of Beach Enclave North Shore in January 2014 the developers continue to strive to create new and lasting experiences and dream vacation homes. Now with five phases of development in three amazing locations, it is no wonder that the dreams of many vacation home-owners have come true.
Wanting to appeal to a broader market of home buyers, Beach Enclave developers introduced The Club at Beach Enclave Long Bay with four Beach Houses and a boutique condominium, The Club Residences. Now completely sold out with the Beach Houses nearing completion and The Club Residences due to start construction imminently the developers have cleared ground for the Phase 2 of Beach Enclave North Shore. Utilizing the same architect as The Club at Long Bay, the developer has taken a dramatic beachfront location and carved into the limestone shelf to seamlessly connect the Beach Houses to the surrounds. The exposed limestone functions as a design feature and acts as natural barrier offering privacy between the homes. The expanded resort amenities on this North Shore location include an elevated oceanfront Club Lounge with an indoor/outdoor bar and restaurant, lounge decks enhanced with water and fire features, an upgraded oceanfront Fitness Center and Yoga Deck, a lighted tennis court, kids club, and a one-of-a-kind luxurious Enclave Gardens, teeming with Caribbean fruit trees, all for the exclusive use of owners and guests.
We wanted to share with you the various milestones achieved by Beach Enclave in the making of the brand. We welcome you to BE a part of this incredible journey.
Although many of us would expect Covid 19 to trigger a reduction in second home demand, nothing could be further from the truth on the Caribbean Island of Turks & Caicos. The Sotheby’s Turks & Caicos office reportedly closed $70M in sales during the month of June. Some speculate that the high sales are the result of the reduced stamp duty on the islands, but is there something more significant driving these high sales volumes?
by Turks and Caicos Sotheby’s International Realty
Phase 2 Beach Enclave Long Bay
Vasco Borges, Developer and Founder of the Beach Enclave brand, is proud to announce the highly anticipated Phase 2 of Beach Enclave North Shore, which expands upon the original, award winning Beach Enclave boutique private villa resort.
Phase 2 offers ten tropical minimalist two to four-bedroom homes, sitting atop a magnificent, beachfront, elevated perch, with one of Providenciales’ most jaw dropping views of the north shore and the reef barrier, providing the perfect combination of elevated views and access to a virtually private beach.
“The homes are built to take full advantage of the topography. The first story of the Beach Houses are carved into the limestone shelf, seamlessly connecting them to the surrounds. Entry to the home is provided from the second level, so you have ocean views from 47′ of elevation in your master bedroom. The exposed limestone functions as a design feature, and acts as a natural barrier offering privacy between homes. The Ridge Top Houses set behind the Beach Houses, take full advantage of the position on the top of the ridge with 60′ of elevation from the first story and 70′ from the second.” – Vasco Borges, Developer, Beach Enclave.
With 35′ of elevation the Beach Houses range in size from 2,885 gross sq. ft. for the two bedroom to 4,080 gross sq. ft. for the three bedroom. Prices for the Beach Houses start at $1,895,000.
The Ridge Top Houses are superbly positioned to protect ocean views and privacy and range in size from 2,918 gross sq. ft. for a two bedroom to 4,817 gross sq. ft. for a four bedroom. Prices for the Ridge Top Houses start at $1,650,000.
“We are thrilled to be launching Beach Enclave North Shore Phase 2. Yet another amazing project with Vasco Borges and his team. On the heels of great success in Phase 1 next door, and a building reputation with two further locations in nearly sold out Long Bay, and sold out and soon to be complete Grace Bay, the phase 2 homes open the acclaimed BE Villa enclave concept to a wider and highly interested audience.” – Joe Zahm, Broker and President, Turks & Caicos Sotheby’s International Realty.
A menu of pre-designed options is available.
The expanded resort amenities include an elevated oceanfront Club Lounge with an indoor/outdoor bar and restaurant, lounge decks enhanced with water and fire features; an upgraded oceanfront Fitness Center and Yoga Deck; a lighted tennis court; kids club; and a one-of-a-kind luxurious Enclave Gardens, teeming with Caribbean fruit trees, all for the exclusive use of owners and guests.
As real estate elsewhere has dropped, the Caribbean nation has seen records broken despite the global pandemic, according to Mauricio Umansky, founder and CEO of real estate firm The Agency.
“We have definitely seen some extraordinary prices,” he told FOX Business.
South Bank is a low density 31-acre residential resort and marina community along 2,200 ft of beach and iron shore including a unique peninsula located on the southwestern end of Long Bay beach, offering some of the finest views over the Caicos Banks.
Sales volume of single-family homes in Turks and Caicos during the first quarter of 2020 outpaced the same period of 2019, and condo sales outpaced the two previous years to date, according to a Sotheby’s International Realty report.
Turks and Caicos is conveniently close to the U.S. and boasts some of the world’s best beaches, according to Umansky. The country also uses the U.S. dollar and has no property, income or capital gains taxes. The real estate market was already seeing big growth there last year, and it benefited from publicity around the sales of luxury homes that had belonged to Prince and Bruce Willis.
Wealthy Americans looking to vacation in Turks and Caicos were more likely to rent before the pandemic, so they could spend a summer there and then jet off to another luxury locale the next year, according to Umansky. But he said the pandemic has made the rich realize they want to own a second home outside crowded cities so they have someplace comfortable to stay in the event of a similar event.
“So there’s a big trend, they want to have a place to sequester and to have that second home if this happens again, and to have a home where the whole family can go, not just a little apartment that they don’t all fit in,” he said.
Turks and Caicos officials did close its borders in March as a result of the pandemic. The country has remained relatively unscathed by COVID-19, with just 12 cases and one death among the popular of 39,000 people, according to the World Health Organization. As of June 15, officials said there were no active cases of the illness in the country.
Beach Enclave’s newest boutique resort offering – the first true luxury boutique resort in TCI.
The Turks and Caicos government also incentivized real estate purchases during the pandemic by offering a 50 percent cut in stamp duty, waiving custom duties on construction materials and cutting planning fees by half, the Caribbean Journal reported.
Now the border is set to reopen on July 22 when Providenciales Airport reopens. The Grand Turk Cruise Center is also scheduled to reopen on Aug. 31.
With real estate outpacing the market in 2019 even during the pandemic, Umansky said he’s expecting even more growth once visitors can return.
“It’s back on and we’re selling,” he said. “It’s pretty incredible.”
Of course, Turks and Caicos isn’t the only vacation spot to see a boost in interest among wealthy homebuyers amid the pandemic. The Bahamas have also seen a “very solid rise in their real estate sales,” according to Umansky. He also spoke to FOX Business about the rise in popularity of ski towns like Aspen, Colorado and Park City, Utah as year-round getaways. And a run on vacation homes in traditional escapes for the rich and famous like the Hamptons has been well-documented.
Real estate in general is also recovering and getting closer to catching up with last year’s pre-coronavirus market, Umansky said.
“That gap is narrowing on a daily basis,” he said.
Amayara Resort – Located on the secluded Northwestern tip of Providenciales, bordering a national park.
“Since the reopening of the construction site on May 11,the safety of our working men and women on site has been prioritized, following local health guidelines…whereas these guidelines have added unexpected new steps to our processes, the construction continues unabated and the project is advancing well….the project has advanced considerably, with several homes reaching roof level and the resort main pool and its adjacent building advancing”-Mark Durliat, CEO and Principal of Rockhouse
“Rock House is perfectly positioned to complete and open in 2021to meet the growing demand from buyers seeking their own retreatswhere privacy, space, high quality of design and service are likely to be even more sought-after. A selection of elegantly designed cottages, each with their own private pool, will enjoy access to the superb amenity set of the newest boutique resort coming to Turks & Caicos.” Nina Siegenthaler, Vice President of Turks & Caicos Sotheby’s International Realty
As you may be aware, Turks & Caicos has remained a safe haven throughout its closure period, since the end of March, with a minimal amount of COVID-19 cases to date, due to swift action taken by the Turks & Caicos Islands Government and Governor.
In April, Beach House 2 sold, with construction slated to commence imminently.
We have also seen construction re-commence on Beach Houses 2 and 3 which broke ground in December and are slated for completion by Q1 2021.
View our latest construction video.
Beach Enclave is committed to securing the sale of the last remaining Beach House 1, and delivering a construction-free living experience to early Beach House buyers and resort guests, and as such is offering the below incentive until the end of June to create a time-sensitive opportunity to qualified buyers during this time:
$150,000 discount to the list price of $2,795,000 (3BR) and $2,995,000 (4BR)
$25,000 credit towards design options such as an outdoor summer kitchen or resort amenities
Coupled with the Turks & Caicos Islands Government’s reduction in Stamp Duty for land acquisitions completed prior to the end of June (from 10% to 5%) the incentive results in more than $200,000 in savings. The Club Residence is starting in 2021. The stamp duty savings will likely apply to a sale of any Club Residence through an Extended Payment Agreement.
February 2, 2020, Providenciales, Turks & Caicos Islands. Construction of the first home at South Bank, a 5-bedroom Ocean Estate Shoal Villa with signature Serenity pool, has commenced on Lot 8. Sales in process include, Ocean Estate Lots 3 and 4 which will see construction of the first and only-of-its-kind 5-bedroom Bluff Villa, and a 4-bedroom Shoal Villa, over the coming months. Only 1 Shoal Villa lot remains in Ocean Estates I.
The Ocean Estates I is positioned over Long Bay Beach and a striking iron shoreline with varying elevation. The Ocean Estate Villas range in size from 4,500 – 7,500 total sq. ft. and are offered in 3 different layouts from 4 to 6-bedrooms with lot sizes from .5 – .77 of an acre. Dedicated boat docks are available for boats up to 65 feet.
Prices start at $4.45
Six Boathouses Under Contract
The Launch has seen sales in process on 6 Boathouses, with scarcity building in the 2-bedroom + rooftop terrace design type.
The Launch is a community of 1 – 3-bedroom Boathouses, with dedicated boat docks for boats up to 26 feet directly off of the rear terrace, and private access to the Launch central entertainment courtyard which will feature a lap and relaxation pool, sun loungers, BBQ areas and hammocks. The Boathouses range in size from 1,500 – 2,250 total sq. ft
Prices start at $795,000.
First Lagoon Villa Sale Underway
Lagoon Villa 12, located on the eastern side of the boca to the Lagoon is now sold, with a further 5 sales in process. The Lagoon II Villas, on the western side of the boca, feature private dock space for boats up to 30 feet.
The Lagoon Villas have been designed for contemporary family living with outdoor decks that connect to a generous beachfront swimming lagoon. The Villas have taken inspiration from the beach houses of Malibu and offer two roof designs – a pitched butterfly and flat roof option.
Ranging from 3 – 4 bedrooms under roof or 4 – 5 bedrooms via a 1-bedroom guesthouse option, the Lagoon Villas range from 3,000 – 3,500 with lot sizes from .24 – .55 of an acre.
Prices start at $1.85M.
Phase One Infrastructure Works Nearing Completion
Underground utilities, site boundaries, landscaping and community roads are nearing completion. Stay tuned for Phase 2 works, which include excavation of the swimming lagoon, lounging islands and boat basin. The Marina at South Bank will also feature a new sundry shop, parking areas, and refueling facility, in addition to new parking areas, a new main dock and floating docks.
Turks & Caicos Real Estate | Caribbean 