The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

A Western New Providence gated development pegged at $50m has reserved one third of its lots in its first month on the market, with marketing expected to ramp up in the next month.

Ryan Knowles, founder and chief executive of Maison Bahamas Real Estate and also the director of sales for Windsor Lakes development near Adelaide, told Tribune Business that the development has placed 25 of their 179 lots on reserve in its first month on the market.

This comes at the start of site works along with clearing roadways and infrastructural works, including man-made lakes.

He said: “That process obviously takes a number of months and right now I think we’re at about 80 percent of the roads being cleared, and driveable, which is nice.”

He continued: “So when we have prospective buyers who want to see the community, we can actually drive them through it and take them to their future property and over the next 12 months the rest of the infrastructure will go in for the utilities and the roads.

“By this time next year, we’ll start to see people constructing homes and starting to get ready to, hopefully, start to move in by the end of next year and early 2025.”

The first 25 lots have been reserved and official marketing will “ramp up” now as the development had a “successful soft launch”, Mr Knowles said.

Matt Sweeting, chief executive at 1oak Bahamas and also an exclusive sales and marketing representative for Windsor Lakes also said that there is “considerable interest” from locals and international market for lots, “but also home packages in this community”.

Robert Myers, principal of Windsor Lakes, said: “Everything is running along. We are doing all of our ground prep, earthmoving and excavation of lakes and roads and the building sites.”

He added: “The next phase is that Matt [Sweeting] at 1Oak along with Maison Bahamas have teamed up to handle the sales. So they should be going out this week to a bunch of the brokers and agents to look at co-brokering.

“At the moment where we’re taking reservations and within the next two to three weeks we expect to be able to place the infrastructure bonds and then be able to sell property.”

Windsor Lakes is offering a “design and build,” your own home package as well as prospects can come in and select one of the pre-designed homes they have to offer. “In that regard, you would have a bunch of selections, so you would close on the property and then you could engage us to build those homes or you can bring your own design and we can we can also price build in those homes,” Mr Myers said.

However, if persons want to bring in their own contractor, they have to ensure that the contractor is qualified and approved by the developer.