New residences under construction, walking distance to the heart of Grace Bay and the beachfront!! Prices from $275,000 to $605,000.
Z-ONE is a thirty residence, multifamily investment and residential opportunity located in Grace Bay, Providenciales. With one of two 3-story buildings nearing completion, and the second building already well under construction, Z-ONE offers qualified investors the opportunity to acquire an investment property or full-time residence in one of the tightest rental markets in the Turks and Caicos Islands. Located in The Village at Grace Bay, the residences are conveniently situated just inside the western entrance, approximately a quarter of a mile from the heart of Grace Bay’s amenities, shops, restaurants, and bars. Only a few minutes walk to its famed beaches and in the neighbourhood of the luxury resorts along Grace Bay. Positioned on a sizable 1-acre site, the property consists of two stylish, modern garden-style apartment buildings comprised of six studios, twelve 1-bedrooms, and twelve 2-bedroom residences, with several commanding an ocean view. Each building is fitted with quality doors and windows and equipped with elevators. Z-ONE Residence’s common area amenities include gated entrance, car parking, pool, poolside restroom, gym, common area BBQ, external area security cameras, and emergency backup generator for the exterior common areas. The interior specifications offer top-of-the-line brands, boasting Kohler faucets, fixtures, fittings, and hardware, large format porcelain tile flooring, Caesarstone kitchen countertops and backsplash, and custom-milled cabinetry throughout. Specifications of hardware, equipment and HVAC are best-in-class. Tankless water heaters, wireless doorbells and radio frequency water meters are amongst many thoughtful extras evidencing that the project is built for the long term.
The Strand, Cooper Jack Bay – The Villa Pool Deck View
February 3.2022 – Providenciales, Turks & Caicos Islands
The Strand, Turks and Caicos, an exclusive residential resort community located on 2,230 feet of pristine shore frontage on Cooper Jack Bay, today announced the start of construction. Following the announcement of the new development in late 2020 and a very successful sales launch in 2021, the developers have received all permits and approvals and are underway building out single-family homes and several community amenities, including the marina and Beach Club. The project is expected to be complete by 2025.
With over $45 million in reservations and contracts to date, The Strand has seen incredible demand and is poised to sell half of its inventory by the end of spring 2022, positioning the property to become the premier private community in the Caribbean. Interest has been especially strong from young families who are looking for a second home in a safe and accessible destination with full-service amenities and five-star service. With rich airlift and a low tax environment, Turks and Caicos is an ideal choice for those seeking a second home island paradise.
With such strong demand coming from owners with young families, The Strand has also pivoted its residential design concepts to introduce three-bedroom managed villas, appealing to the needs of today’s buyers striving for flexibility and relaxed, resort-style living for their families. Priced at $3 million and situated directly on the water, these three-bedroom residences also increase rental opportunities for owners, solidifying The Strand as one of the best villa rental accommodations on the Island.
“The Caribbean, and Turks and Caicos in particular, now more than ever is seeing an influx of interest from a younger demographic, who are craving a special legacy home that can be passed down through generations,” said John Fair, managing director of The Strand. “The Strand is appealing to these active families due to the collection of shared sport and socializing amenities, such as access to the Beach and Racquet Club, a concept which does not currently exist in Turks and Caicos, and further creates opportunity for connectivity among owners and guests.”
Joe Zahm & Nina Siegenthaler Visit the Construction Site with Developer John Fair
An exclusive, sophisticated hideaway in a relaxed coastal setting, The Strand is the first of its kind on the Island with a limited collection of 46 luxury beachfront villas, custom residences, and homesites, alongside access to vibrant community programming and full resort amenities and services. The Beach Club flows into the centerpiece resort-style swimming pool, surrounded by native limestone, and the dramatic water’s edge restaurant and bar. Amenities include access to The Strand’s own Club Boats with a private captain, catamarans, kayaks, and paddleboards, as well as a tennis court, two pickle ball courts, and a state-of-the-art fitness center with a secluded yoga deck. Additionally, a la carte club services include in-home spa services, housekeeping, pre-arrival shopping, private chef and catering, airport transportation, landscape maintenance, an artist in residence program and security. In addition to the beachfront setting, the site offers 1,400 feet of canal and marina frontage, with a full marina and slips for owners, as well as several community yachts slips.
Conveniently located on an undeveloped, unspoiled stretch of coastline on the protected south side of Providenciales, The Strand is built from the ground up in the most sustainable way possible. In partnership with Renu Energy TCI, a local leader in solar home integration, The Strand offers solar packages on all its villas, making this development one of the first ultra-luxury community with this level of sustainability in the Caribbean.
Each of the residences is perched oceanside with direct access to the water below and ocean-facing bedrooms with uninterrupted views. The design-forward residences—in collaboration with RAD Architecture, Inc. and Modus Operandi interior design—are carefully hand-crafted to celebrate the island’s laidback lifestyle. Current residential offerings include:
New three-bedroom Villas have been introduced priced at $3 million. Each villa is capable of renting as three separate lock-off suites – each complete with three oceanfront bedroom suites directly overlooking the ocean with magnificent views. These dramatic villas offer the best in carefree island living while maximizing rental income. Each villa has a private plunge pool, outdoor shower and two-person soaking tub.
Turn-key two-bedroom Villas are designed with lock-off units on separate levels, offering one and two-bedroom layouts. Each exotic villa has its own plunge pool and outdoor shower and soaking tub. An optional rooftop terrace includes an open-air kitchen, bar, and dining space. The Villas have more than 3,000 square feet of indoor-outdoor living space and are priced at $2.45 million.
Elegant four- and five-bedroom Luxury Residences feature a dramatic two-story great room overlooking the pool and the Caicos Banks. The main house has four oceanfront en-suite bedrooms, a handcrafted infinity pool, and a lush courtyard with outdoor kitchen. Certain lots include a courtyard plunge pool and spa, one-bedroom guest house, and family/flex room. Each residence has a built-in overlook at the iron shore edge and a grotto beach. Luxury Residences start at approximately 8,300 square feet of indoor-outdoor living space and are priced from $6.8 million.
Six-bedroom, seven-bathroom Grand Residences are the largest and most luxurious residences with 14,000 square feet of indoor-outdoor living space. The main house boasts five oceanfront en-suite bedrooms, including a spectacular second-floor master suite. An expansive great room opens to a formal outdoor terrace and handcrafted infinity pool with endless ocean views. The courtyard features a plunge pool and spa, outdoor kitchen, family/flex room, and one-bedroom guest house. Residences offer a built-in overlook at the shore’s edge and a grotto beach. Owners will be able to fully customize the home and landscaping. There are three Grand Residences priced from $10 million.
Six oceanfront lots are set aside for custom homes. Starting at $3.5 million, each has more than 100 linear feet of Cooper Jack Bay coastline to the front and 100-foot yacht slip in the rear, making these lots—ranging from 0.7 to 1.28 acres—among the most unique offerings in the Caribbean.
The Somerset On Grace Bay is an elegant and impeccably built condominium development located on a prime position on our award winning Grace Bay beachfront. Originally completed in 2007 it has maintained its splendor, gracing the shores of the beautiful beachfront and welcoming back repeat clientele through the years. This full-service resort appeases the most discerning of owners and guests and has become a popular condominium choice for real estate purchasers this past year, as noted in the “Year In Review Market Report 2021”.
Trafalgar Terrace under the arched pavilion serves as the grand entry point to the resort amenities, such as the signature lap pool, infinity edge pool, and beach beyond which are the center of attraction surrounded by the residences. The resort offers luxury, residential accommodation in a few options; The Cottages which overlook the Croquet and Event Lawn, The Stirling House Villas overlook the resort pools, and the stately Oceanfront Estates. There are only 16 Oceanfront Estates within four buildings whereby each residence expands the entire floor on each level in a lavish square footage of exquisite details including marble flooring, granite countertops, crown and base molding details, custom gourmet kitchens and the finest of fixtures and fittings featuring the charm and warmth of Caribbean British Colonial décor.
We welcome you to view our listings at The Somerset On Grace Bay.
Cottage 1BStirling House E206Stirling House 203Welwyn Estate D-102
2021 Turks & Caicos Real Estate – Exceeding Wildest Aspirations!
The headline for our 2020 Year End Report read: “2020 Turks & Caicos Real Estate Market Closes Like a Champ”. Then, with each quarterly report throughout this past year, we witnessed record breaking sales and it became clear that we were heading for a historic year. And what to say about a supernova year where our annual sales volume increased 158.5% from $290M to $751M!! Where Single Family Homes accounted for a whopping $369M, up 137% over last year’s $155M, with average prices up 30%, from $1.72M to $2.25M. And where Condominium sales, led by the completion of The Ritz-Carlton, improved by 282%, from $59M to $225M, with a 33.5% increase in average price from $1.03M to $1.38M! With regard to the Condominium sector, we went well over a decade without a new Grace Bay vertical development, so The Ritz-Carlton fulfilled a huge gap in the market. With other projects in the pipeline, including Point Grace Phase 2 by Grace Bay Resorts, The St. Regis by the developer of The Ritz-Carlton and perhaps the long-awaited Andaz Residences, we should see some consistent Grace Bay condominium development. Demand continues to be frenetic for quality upper-level beachfront units with owners holding dear to their places. Days on market are short with high elasticity in price for the better inventory. The new projects will help to fulfill over a decade of pent-up demand and increase its share of all sales beyond the existing 30%. From Trophy properties to managed and stand-alone villas, Single Family Homes owned the day, accounting for 49% of the total market. Significant sales included Turtle Tail Estate at $20.25M, Coral Pavilion at $15M, Beach Enclave Grace Bay at $10.2M, Villa Chill at $10M (all Listed and Sold by TCSIR) and Villa Salacia at $16M (Sold by TCSIR). Several off market properties, at significant price points, transacted that were not recorded on MLS. New Development sales posted on MLS accounted for only 18% of gross sales volume in this segment, with most New Development sales still pending as the aforementioned figures do not account for the $460,000,000 in Pending and Conditional transactions on our MLS, led by South Bank, Rock House and The Strand. Raw Land sales also fared well, with a 115% year-on-year improvement, from $63.7M to $137M and a 54% increase in average price from $370,807 to $573,009. So, what to say, beyond wow! The colossal numbers aside, TCI continues to enjoy the excellent fundamentals we so often have written about, where quality, ease of access and use, freedom of movement and open outdoor space are treasured. We envision a strong 2022 ahead, albeit with some inventory restrictions, featuring a healthy balance of new development condominiums and villas, and perhaps some traction on our private islands. As always, we thank our team, clients, customers, industry colleagues, and the broader private and public sectors for their amazing adaptability, tenacity, and grace in navigating the Covid world. We never dreamed that through all of the significant challenges, we would exceed our wildest aspirations in 2021.
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
Building on the record breaking first half of the year, Q3, historically our slowest quarter, gained a whopping 319% over Q3 last year ($158,905,323 vs. $37,891,750), with year-to-date sales volume up over 150% over the first three quarters of last year ($496,710,829 vs. $198,330,657). These numbers represent historic events, of course, and with Canada and other countries now open for travel, we expect a strong fourth quarter with the caveat that all this great sales volume is resulting in constriction of inventory.
Led by a slew of trophy sales, and luxury villas (managed and standalone), single family homes have accounted for 56% of the total market y-t-d ($280,874,064 with an average price of $2,246,993) up 161% and 17% respectively. Condos account for 19.8% of the total market ($98,745,262) up 196% y-t-d). This number will normalize as new development condos at Ritz Carlton Grace Bay and Rock House are posted as closed. Raw land sales also displayed strong performance and have accounted for 21% of the total market and is up 123% year-on-year with an increase of 45% in average price from $397,363 to $576,371. Significant sales in Q3 included Coral Pavilion $15M, Footprints on the Beach $8.1M, Beach Enclave North Shore V4 $5.5M, Beach Enclave Long Bay V6 $5.45 and Hawk’s Nest Villa $2.77M.
Turks & Caicos Real Estate Sales Continue at a Breakneck Pace!
The TCI real estate market is seemingly ‘too hot to handle’ as we witness yet another record-breaking quarter in sales volume along with pending/under construction sales not recorded within this amount! This first half of the year has just closed out with a staggering $328M in sales volume which is normally TCI’s yearly sales volume – in a very strong year! That’s a 105% increase over last years 2nd Quarter with an average price increase of 26%. All segments of the market saw increases contributing to this incredible spike in sales. Significant sales noted in this 2ndQ were, Turtle Tail Estate $20.25M, Villa Salacia $16M, Casa Tremer $7.995M, and The Estate at Grace Bay Club G504 $5M.
The tourism industry is also witnessing record numbers in occupancy during this time as Turks & Caicos continues to flourish and to fulfill its destiny as a leading and premiere upscale destination in the Caribbean. The resilient Turks & Caicos real estate and tourism market has sustained economic growth and real estate sales for the past eight years, and we expect to see continued growth, with new and exciting projects in the pipeline. To continue reading, click link to download full report.
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.
Following a breathtaking fourth quarter of 2020, the TCI real estate market has just closed an historical quarter of business with nearly $128,000,000 in closed transactions, up 60% over the same period last year with average price increases across each sector. What’s more, there are over $463,000,000 (you read that right!) in pending and conditional transactions and this leaves out another circa $100M in new development sales at the Ritz-Carlton Residences (set to open this summer), South Bank, Beach Enclave, Rock House, The Strand and other new Development projects.
There is a lot to unpack. First, it is clear for the post-COVID world that ultra-luxury and luxury markets have fully endorsed Turks & Caicos Islands as a preferred warm weather destination. Also, a vacation property is now much more than simply a lifestyle investment, but a life investment and often an integral part of work, play and community, contributing to taking our market to the next level. To continue reading, click link to download full report.
We’re all familiar with the trademarks of traditional Caribbean architecture. Wrap around verandahs, louvered windows, stone walls, arched doorways and colourful shutters functioning as both embellishment and protection. These homes have long served as staples of our history, peppering the shorelines and hilltops of Providenciales, from the original settlements, to the first wave of foreigner migration to T&C’s shores, with builds pioneered by the Ward family.
With development now taking on more of a steady rolling swell, rather than a crest with peaks and troughs, the last decade of T&C’s home design has seen the emergence of a more contemporary aesthetic. As a personal example I (FINALLY) made the transition from an open air home with louvered windows and gorgeous breezes through most of the year, to hurricane rated glass windows and an eco-friendly air condition system 🙂 As an avid lover of traditional Caribbean design, I never thought I’d say this, but I haven’t looked back since.
My example is a humble residential perspective of someone who feels deep roots to this timeless aesthetic, but with a steady influx of international buyers, I’m not alone in my pursuit of home design with an increasingly modern tilt. Below are 3 architectural firms that are truly transforming the landscape of Providenciales and redefining how we think about Caribbean design:
London and TCI based firm Blee Halligan Architects cut their teeth as development partner to Windward on the Blue Cay project and have continued this partnership on the South Bank project and The Peninsula at Emerald Estate, four standalone contemporary Beach Houses on the exclusive northeastern tip of Leeward, which are undeniably the showpiece properties of the collection. Blee also works on private projects throughout Providenciales, building on their design ethos of building in nature; designing for specific geographic, climatic and cultural nuances of the locale.
Beach Enclave is known for outside the box thinking, enter stage left, the first ever South American architectural firm to design in the Turks and Caicos. Hired to create minimalist low impact designs for the Beach Enclave Long Bay expansion and Beach Enclave North Shore second phase, Jacobsen Arquitetura successfully provided integrated designs to two seemingly varying sites. Linear design using natural materials, space and light, combine to create comforting ordered spaces with zero distractions to evoke a feeling of calm, provided by both the clean interiors and tropical views the designs overlook.
With over 20 years’ experience designing homes in Turks & Caicos as well as an international presence in Ireland and Great Britain, James Hamilton Architectspride themselves on empathetic design, with their clients needs at the heart of their process. A browse through their website will illustrate the numerous projects they’ve been involved in, and the varied nature of the homes they can produce. A personal favourite is Villa Fred, which marries the softness of cedar shingled roofing, order of symmetry and more modern linear elements like planked roofing, recessed lighting and pocket sliding doors opening to expansive views.
Turks & Caicos Real Estate | Caribbean 