Barbados Developer Tests Market With 10,000 Square Foot Mega-Condos

Barbados Developer Tests Market With 10,000 Square Foot Mega-Condos

Residential News » Latin America Residential News Edition | By Scott Kauffman | July 9, 2012 3:39 PM ET

With five units already sold, a luxury multi-family property in Barbados called Portico is now testing the waters with a 10,000-square-foot unit. According to the developer's marketing agent, the "mega-apartment" is the largest apartment ever on the "platinum west coast" of Barbados.

"This really is an once-in-a-lifetime opportunity to purchase the largest apartment on the West Coast and in fact, the entire island," said Richard Young, Managing Director of West Coast Villas Sotheby's International Realty in Barbados. "Now is the perfect time to invest, when economic conditions favor UK homebuyers and confidence in the Barbados market is showing signs of great strength, with the luxury property market on the island bucking the global trend, and being considered a safe haven by many.

"The size of the plot, combined with its top of the range quality and finish, means that it holds enormous potential for a second or third home purchaser looking for the utmost in privacy in a truly special setting, or overseas investors looking to secure excellent rentals of up to $5,000 per night from high-end clients."

This unique apartment features six spacious bedrooms with two master suites, each with an expansive private terrace overlooking the Caribbean Sea. The en suite bathrooms combine handcrafted cedar wood closets, polished chrome fixtures and luxurious whirlpool tubs with chromatherapy lighting. Should the owner wish, any of the bedrooms could be easily converted to a cinema, gymnasium, nursery, library or office.

The living room spans over 60 feet, opening onto an 80 ft wide terrace via sliding glass doors. This outdoor living space features two mirrored plunge pools and an uninterrupted view of the Barbados coastline. The gourmet kitchen is complete with thick quartz countertops and stainless steel appliances; the second kitchen area can be easily converted to an entertainment bar and catering area, ideal for dinner and cocktail parties.

To date, most interest in Portico has come from the United Kingdom, followed by Canada, U.S. residents from the eastern seaboard, and then France and Italy, according to Young. Of the 10 units, five apartments are now sold, and the sixth the developer plans to move into himself. Four apartments remain for sale and potential buyers have the choice of creating the definitive ground floor 'mega apartment,' or purchasing the equally impressive 7,000 square feet of living space still available on the first floor.

"By going against the grain of more traditional developments that are available on the island, and recognizing the shortage of villas on the West Coast's beaches, I was keen to create a 'mega apartment' like no-one on the island has seen before" said Chris Salt, the developer of Portico. "With Portico, the idea was to create a world-class development with Portico, to rival the quality and finish of some of the very best developments in London and New York. I expect the remaining apartments to follow suit, by appealing to the kind of well-travelled, experienced, sophisticated and knowledgeable buyers that it has attracted before, and are looking for exactly the kind of exclusive, world-class lifestyle that Portico has to offer."

The 'mega apartment' layout has been made possible by the building's clever structural design, which allows the main living areas of two adjacent apartments to be combined. The owners of the penthouse floor have already made this exciting concept a reality, but there is only one opportunity remaining to create a mega apartment of this scale, by purchasing the ground floor, which offers an additional 3,000 sq ft of extended terrace area, totaling 10,000 square feet.

The Portico development also offers a stunning 80-foot-long infinity edge lap pool and split-level waterfront sun deck with steps down to Prospect Beach, as well as a large state-of-the-art gym, sauna and changing rooms for the development's select number of residents only. Amenities also include underground parking and resident storage units, 24-hr security systems, property management and concierge services.

The exact price for Barbados's largest ever multi-million condo-apartment is available on request.

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