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Real Estate rentals, property sales and associated services in Barbados
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Eastern Land Developments - Page 23
BARBADOS
www.barbadospropertynews.com • August - September 2015 • Issue 100
Endorsed by theBarbados Estate Agents andValuers Association Inc.
Monkey Hill, Sugar Hill - Page 14
Vuemont - Page 21
Island Gold - Page 19 PROPERTYNEWS
FREE& ONLINE
I S S U E O N E H U N D R E D
Welcome to Barbados Property News – the 100th Issue – a milestonewe are mighty proud of! We hope, whether a visitor for the Crop OverFestival, or a local, you will find the contents interesting. You have plentyof choice for shopping and of course, a plethora of places to rent or buyin the future.With so much buzz about earthquakes in recent times it seems
appropriate to highlight hurricane preparedness as the seasonapproaches. Some people might feelhighlighting hurricanes in the region has anegative effect, but nothing could befurther from the truth. In much the sameway as insurance is a necessary
requirement for a wide range of risks, being prepared for somethingthat might never happen gives peace of mind and is pragmatic.There’s no point in trying to be prepared the day before a hurricaneor a major storm approaches because that’s too late and althoughwe haven’t had a direct hit for over 60 years we’ve had a few nearmisses and plenty of warning. We should never be complacent. Barbados Property News is a niche property publication that
highlights property sales and rentals, property services and a widerange of property products. It is published bi-monthly and providedfree throughout the island as a hard copy and on the Internet allover the world on www.barbadospropertynews.com.We hope you enjoy it and find something to meet your needs.
Pamela Hiles - Editor
Editor’s CommentsPublisher – Hiltop Publications Ltd,11 Cottage Ridge, St George, Barbados,BB19071Tel (246) 228-9122, Fax (246) 228-0243Email: sportingb@caribsurf.comwww.sportingbarbados.comwww.barbadospropertynews.comwww.caribbeanpropertymag.comwww.caribbeanmortgageservices.com
Editor/Advertising – Pamela L Hiles
Design and Art Direction – 809
Distribution – Hiltop Publications Ltd,Brian’s Print Brokerage
Printing – Coles Printery
The Material and editorial contained in thispublication have been deemed accurate at thetime of going to print. The views expressed aseditorial are those of the Editor unless statedotherwise. No part of this publication may bereproduced without the consent of thepermission of Hiltop Publications Ltd.
On the Cover: Monkey Hill at Sugar Hill
Pamela Hiles, Editor
If you would like to advertise in Barbados PropertyNews call Pam at 228-9122 or 232-0692
I S S U E O N E H U N D R E D
©2015 Wolseley. All Rights Reserved.
#6 Canewood Industrial EstateSt. Michael246-627-0580
US$160m C&WInvestment for Barbados- New Retail Brand, Flow unveiledas company begins significant roll out
Feature
C&W is investing US$160Min Barbados as the Companyrolls out its new retail brandFlow on the island as part ofits merger with ColumbusCommunications. Barbadosis the first country to launchthe newly combined retailbrand. Niall Sheehy, CountryManager of the ‘new’ Flow,
revealed a number of significant developments for Barbados.“What we have today is the product of two legacies working in
unison to meet our customers’ needs,” said Sheehy. Under thenew consumer brand Flow, the company has combined thestrengths of the former LIME and Flow organisations and ispositioning Barbados as the first country in the world with 100%Fibre-to-the-Home (FTTH) broadband connectivity.The FTTH network will allow the Company to bring new and
cutting edge services to itscustomers. As a start, customers willreceive telephone (mobile and landline) video, audio, televisionand just about any other kind of digital data stream using Flow’scomprehensive FTTH broadband connection. Sheehy indicated
that the consumers will benefit from bundling of products, newand exciting apps and the ability to access products and servicesfrom a variety of platforms, via its network.Sheehy also outlined other aspects of the company’s
investments in Barbados as the Company rolls out its newconsumer brand. “We have already moved into our new corporatehome in Warrens (formerly the Orange Mall) and on August 1, wewill officially transition from our Customer Care Centre at SkyMallto a new retail store under the Flow brand.This new retail outlet will serve as the touch-point for all our
products and services of the combined entity,” he said.“Customers will still be able to access a full Flow Customer ServiceCentre at Windsor Lodge (formerly LIME),” added Sheehy. “Thesechanges are part of a wider plan to ensure that our newlycombined company meets our stated goal of putting the customerat the heart of what we do.”Sheehy also informed that the company is currently
transitioning all of its products and services to the Flow brand. Henoted that the transition phase will take some time, during whichcustomers may still see communications using the former LIMEand Flow brands.
Sir Allan Fields, Chairman of Cable & Wireless (Barbados) Limited, celebratesthe launch of Flow Barbados with Managing Director, Niall Sheehy.
Niall Sheehy, Managing Director of Flow Barbados.
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John Reid, President of C&W’s Consumer Group.
This aerial acrobat was a hit with the VIP crowd.Legendary saxophonist Arturo Tappin kept the crowdrocking.
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In a recent interview with aprospective overseas buyer heexpressed surprise at the smallnumber of potential lenders andamazement that the island has nonational bank. He was not swayedby explanations of economies ofscale and the problems of the oldBarbados National Bank and felt
any nation worth its salt should have its own bank. After all, bankshold the key to the financial welfare of any country and its citizensand if they are serving their own interests rather than the country’sinterest then there is a huge disconnect. Yes, the Central Bank ofBarbados has a strong influence in operational matters,regulations and compliance, but it has little effect on policy andthat’s where Barbados will always lose out.The government’s shares in the Barbados National Bank weresold off to Trinidadian business interests over a decade ago andin due course the bank was named Republic Bank. It has stronglocal representation on its board and plays a significant role inlocal banking, but it is essentially a Trinidadian bank operating inBarbados. The same can be said for Bank of Nova Scotia, CIBCFirst Caribbean, Royal Bank of Canada and First Citizens Bank.And therein lies one of the biggest challenges in local banking atwhat happens at Headquarters determines what happens downthe line and in recent times a lot has been happening. The Barbados economy needs a vibrant construction industryand by association a robust real estate market where propertiesare built and sold to both local and overseas buyers. Yes, there aremarket challenges, but these challenges are primarily in attractingoverseas investors. Pre-2007 there was no problem in attractingoverseas investors, but the whole picture dramatically changed inthe ensuing eight years and although signs of improvement areapparent both internally and externally, we are waiting for it tohappen rather than being proactive. But where does the
responsibility lie? Yes, the real estate industry and the associatedprofessional services could do a lot more to promote easier andcheaper purchase procedures, but the big players are Governmentand banks. The Government has taken no significant role in thereal estate industry and ignored appeals for lower land tax, stampduty, tax concessions for new buyers and developers. Instead theyhave raised taxes to supplement their overall strategy to tax thecountry out of our economic crisis. And what of the banks? Branch closures, staff reductions, repositioning strategic servicesto offshore locations and tighter lending terms and conditionsleaves nobody in any doubt where they stand when it comes toausterity measures. Barbados is not alone in this trend as severalother Caribbean islands are feeling the impact of Canadian banks’retraction in the region and at least one of the big names hasopenly expressed the possibility of complete withdrawal. In thelight of this general trend is the need for a Barbados National Banknot essential?A local bank can stimulate key economic industries with the clearpurpose of improving the financial welfare of the country,something an overseas bank has neither the inclination nor thefinancial motivation to do. In the economies of scale we are smallfry compared to large North American towns, so the policies andvision of overseas owners are understandably different. Hence theneed for a vision and strategy that puts Barbados interests at thetop of the list.We need a local bank!
Clarence HilesEditor
Clarence Hiles is a Mortgage Broker with over 40 years experiencein banking, real estate, marketing and journalism. He has writtenmany article of local business and can be contacted at 230 9215 orby email at [email protected]
Absence of local bankleaves a vacuum
Finance
44
On Saturday June 13th 2015 theJADA Group successfully launchedits new subsidiary company JADAImprovements. JADAImprovements services focuses onMinor Works, Planned andReactive Maintenance andRenovations for both domestic andcommercial clients. The Quarter-Deck pool island at Port Ferdinand,
St. Peter was transformed with a spectacular light show and finedining samplings from the venue’s dock-side dining Restaurant13 59. During the event Philip Tempro, Managing Director of JADA
Group (pictured below far left) stated that over the 20 years ofbeing in business JADA had come to realize that there is a lackof support surrounding programs like minor works,maintenance and renovations in Barbados. “It has becomeJADA’s goal to bring these programs to the forefront byassembling a team of professionals fully equipped to meet theirclients’ needs in these areas and save them money”. He alsomentioned that technology like mobile apps would play animportant role going forward, in executing these programs tocreate an immediate response which saves their clients time. Jeff Mager, General Manager of JADA Improvements later
commented that his team has been chosen specifically, because
JADA Improvements LaunchesAn efficient and fully mobile service to effectively undertakeand manage Minor Works contracts, Planned and ReactiveMaintenance programs and Renovations.
Real Estate News
of their experience and abilities, from a clients’ needsperspective, rather than randomly grouping constructionprofessionals together. This way the team can better understandthe project and would have a more intimate relationship with theclient to ensure the best quality results.Specially invited guests were treated to special tours of Port
Ferdinand’s luxurious rooms and amenities including water taxishuttles. They were able to take in the relaxing settings of thenew Sandbox Tree Spa and impressive Games Room whereguests were able to try their swing using the Golf Simulator. During the night the company also launched its new website
(www.jadaimprovements.com) and Facebook fan page(facebook.com/jadaimprovements).
46
The earth tremors in July mayhave passed and everyone is backinto a normal routine, but thehurricane season is upon us andwith it comes the threat of severedamage. It is interesting that many
Barbadians do not see publicityabout the hurricane season asanything other than an annual ruse
because they certainly don’t do much about it. Ask your friendsand neighbours what hurricane preparedness measures theyhave taken and I suspect most will have very casual, flimsy andthrowaway answers. The truth is most people do nothing, andtheir complacency comes from the fact that we haven’t had adirect hit since 1955. We’ve had a few near misses and somegeneral panic, but the hard facts are that no direct hits meansmost people feel the island is either protected through divineinfluence or just lucky. And statistics support the reasons forthe complacency, as according to the experts in the hurricanebusiness there have been fewer major hurricanes in the last 40years than before and even less in recent times. Indeed, as weenter the 2015 hurricane season the top meteorologists inFlorida are predicting a below normal season of activity becausethe high winds associated with El Nino will hinder hurricaneformation.Hurricane preparedness is a form of insurance and althoughthe risk might be seen as low is it any different than life cover orcritical illness cover? We hope and pray never to need it, but ifwe do, have we prepared properly and dealt with all the issuesinvolved? To do nothing isn’t very smart and it places a lot offaith in either divine protection or lady luck. OK, the odds maybe high, but the outlay in being prepared is relatively small andmakes common sense. After all, the potential damage could becatastrophic, and this covers personal injuries, physical damageto property and financial ruin. The most important part of hurricane preparedness is to havea plan. We know the potential horrors involve storm damage,high winds, floods and storm surge at sea level. We thereforeneed to review our property and make the necessary adjustmentsto ensure we are prepared for the most likely risk. Homeprotection, tree trimming, secure areas to sit out storms,stocking essential requirements, evacuation centres, poweralternatives, IT alternatives etc, all come into play and need tobe addressed within the plan. To do nothing is not an option, yetthe smartest people in Barbados are just as complacent asanyone else so relatively little is done. Having a plan should also involve having insurance in place.
No Room for Complacencyin Hurricane Season
Feature
Most people have personal and property insurance, but noteveryone knows the cover they have or specifically how it relatesto hurricane damage. It may shock some people to find out theircover is minimal or has restrictions, and the only way to find thisout is to ask your insurer. This should involve a propertyinspection and while this may be an inconvenience it is anintegral part of hurricane preparedness and should limitpotential risks. A good insurer will point out areas of high risk,including trees. This is especially important with tropicalproperties where there are lots of verandas, windows, patios,glass doors and outdoor equipment. We live in a society where nutcases drive on the road withoutcar insurance, property owners don’t insure their propertieswhile others don’t insure them to their full value to reduce cost.These people may be in a minority, but when it comes tohurricane preparedness the vast majority of property owners donothing. This may not be high risk given the improbability of adirect hit, but it is still a serious risk that must be addressed oryou could face financial ruin in a worst-case scenario.However, it may be too late to shut the gate after the horse hasbolted.
Clarence HilesEditor
48
For six months out of the year,from June to November, we in theCaribbean live under the threat of ahurricane making landfall withsometimes no more than a fewdays’ notice. Despite this threat,many of us in Barbados believethat we will continue to be sparedfrom the damage that has inflictedso many of our Caribbean
neighbours. This common attitude can leave many of usunprepared and scrambling to protect our homes from thepotential damage that a passing storm brings. To ensure thatyou and your family do not fall victim to this scenario, it isessential to assess all risks and take the necessary steps tomitigate them.The basic rule of hurricane preparedness is that the building
envelope should remain secure to ensure the safety of the family,eliminating the likelihood of water & wind damage to the inside& contents of the home. The three areas that are most vulnerablein creating breaches in the building are the roof, windows &doors. Homeowners can feel secure in their homes by usingestablished and tested methods of hurricane protection thatguard against the effects that hurricanes are known to cause,such as missile impact and extreme wind pressures. Hopefullythis preparation will negate the need for last minute scramblesto nail plywood sheets over window opening or use risky andoften ineffective measures, such as taping glass to windowpanes.Ideally the preferred form of hurricane protection is taken into
consideration when designing one’s home. This provides theperfect opportunity to incorporate hurricane protection into thelook and feel of the home as well as ensuring that the proper
HurricanePreparedness
Feature
allowances have been made for the installation of theseproducts. Consumers should seek to use products that havebeen tested and certified as Florida Building Code Compliant.These products are not only designed with hurricane conditionsin mind, but are tested by third parties to ensure that the productstands up to the promises under hurricane conditions. Windowsand doors that meet this specification use special laminatedglass that is installed into the window frames with structuralsilicone. Laminated glass installed like this will stay in place evenif an object strikes it and causes it to break.For those homeowners looking to introduce retrofit hurricane
protection into an existing home, there are also a number ofother secondary products in the market to help protect thebuilding from being breached during a hurricane. Products suchas aluminium roller shutters, top hung & side hung shutters canbe installed after the building is constructed, and can provideadequate levels of protection to critically vulnerable areas thatare not outfitted using laminated glass products. The essential component in deciding what products to use is
to perform a careful evaluation and determining the type ofsolution that is right for your home and budget. Homeownersshould take time to assess their home’s key areas of vulnerabilityto hurricanes. Classically, windows and doors openings havebeen identified as essential areas to protect, since the costliestdamage is likely to take place inside the house due to entry ofwind and rain. For those persons that do not feel comfortablewith this exercise, there are professionals there to help. It costsnothing to receive quotations, and request more detailedinformation. For further information or to set up a free siteevaluation, evaluate different options or request more detailedinformation contact Oran Ltd at [email protected] or 436-6863.
Justin Oran
“WE’VE BEEN THERE”WE KNOW THIS HOUSE, LIKE WE KNOW EVERY HOUSE WE INSURE…
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Harbour Industrial Park, St. Michael, Barbados | Tel: (246) 436 6863 | Fax: (246) 436 8807 | [email protected]
Oran’s Royal Guard Impact Window Systems include: All vinyl welded frames and sashes co-extruded weatherstripping on casement 7/8” laminated insulated glass silicone glazed to assure strength and structural integrity aluminum reinforcement in sashes on hung
and slider windows multiple installation methods Miami Dade County/Florida Building Code approved for large missile impact.
Feel Safe and Securewith Oran’s Hurricane Impact windowsprotecting you and your home!
and slider windows 7/8” laminated insulated glass
Oran’s Royal Guard Impact Window Systems include:
multiple installation methods and slider windows silicone glazed to assure strength and structural integrity 7/8” laminated insulated glass
Oran’s Royal Guard Impact Window Systems include:
Miami Dade County/Florida Building Code approved for large missile impact. multiple installation methods silicone glazed to assure strength and structural integrity
All vinyl welded frames and sashes Oran’s Royal Guard Impact Window Systems include:
Miami Dade County/Florida Building Code approved for large missile impact. aluminum reinforcement in sashes on hung silicone glazed to assure strength and structural integrity co-extruded weatherstripping on casement All vinyl welded frames and sashes
Miami Dade County/Florida Building Code approved for large missile impact. aluminum reinforcement in sashes on hung co-extruded weatherstripping on casement
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FOR MORE [email protected]
Tel- 230 9215Or visit website- www.carters-grove.com
58
BEAVA NewsReal Estate News
BE AN EXHIBITORAT THE BEAVA REALESTATE & HOMEEXPO! On Saturday October 03rd, the Warrens, St. Michael area willcome alive from 10 a.m. to 5 p.m when BEAVA hosts its RealEstate and Home EXPO. This event promises to be exciting and informative as dozensof exhibitors showcase and demonstrate their latest productsand services in and outside of CIBC First Caribbean’s newestbranch at the Autodome. The location is of course home to the EXPO’s PlatinumSponsor, CIBC First Caribbean who has been a steady supporterof BEAVA’s initiatives over the past two years. The institution
came on board at the association’s first EXPO held at the YachtClub two Octobers ago and has, since then, sponsored all of theongoing members’ workshops thus far this year. BEAVA President Suzanne Davis is heading TEAM EXPO asplans take shape for the association’s major event for the year.The association has secured a number of partnerships includingFLOW, TMR Sales and Services Limited and Consumers’Guarantee Insurance Co. Ltd. and invites everyone who tradesin real estate or home supplies and accessories to register andsign up for a space at the EXPO. Exhibitor costs are $450 for non-members and $350 formembers. Each vendor is assigned a 6-ft table with trestle andtwo chairs, and will enjoy the benefit of free wireless connectivity,compliments CIBC First Caribbean. Throughout the afternoon,customers are invited to take advantage of several on-the-spotpresentations by sponsors in air-conditioned comfort. To book your space, email [email protected] or call theBEAVA office on 836.0650 / 624.1811.
