The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzi@tribunemedia.net

The Treasure Cay Resort Marina and Golf Course is seeking a buyer that will take the area to its “maximum potential”, Tribune Business has been informed.

Abaco Estate Services, the realty firm, has posted a listing offering the resort and“development properties” for sale at $59 million.

Ed Newell, a broker with Abaco Estates Services, told Tribune Business: “They want an investor or investment group that has a plan that will utilise the development areas to their maximum potential.

“Whoever buys it can’t just land bank it. They want someone with a development plan and they will hold them to it, as well as the Government. That’s a prerequisite to sell.

“You can’t just have the money; you have to have the development dollars and the plan. It’s selling for a very reasonable price to attract a buyer who can use a bit of equity in the development, and not just the land purchase.”

The property up for sale is currently owned by the Meister family, owner/operators of Dolphin Encounters. German-­born Ludwig Meister bought 1,500 acres of Treasure Cay in 1981. Today, the area includes an array of rental properties, privately owned homes, a 150 -slip marina, restaurant and golf course.

Mr Newell said: “Because Treasure Cay has already been established, this would only enhance the livelihoods of what goes into Treasure Cay on the island of Abaco, and put Abaco on the map as a Caribbean destination.”