The Real Deal Miami

CBRE marketing Bahamian island development site

The oceanfront site on the island of New Providence is 10 minutes from an international airport
January 21, 2017 04:00PM

A view of New Providence, the Bahamas, from  space (Source: NASA)

CBRE Group Inc. and a Bahamian realty firm are marketing New South Ocean, a large-scale development on the island of New Providence in the Bahamas.

The 384-acre development site on New Providence, which has 3,000 linear feet of ocean frontage, is less than a 10-minute drive from Lynden Pindling International Airport.

“Timing is now ideal to sell the property to a developer who can capitalize on the enormous potential of its many assets,” Paul Weimer, vice president, CBRE Hotels, said in a prepared statement. “New South Ocean is exceptionally well-located and is one of very few remaining large tracts of oceanfront land left on New Providence.”

The site of New South Ocean is adjacent to the Albany Golf Community, and the property has direct access to deep-sea fishing grounds.

New South Ocean also has been identified by the government as a suitable location for the island’s third casino license. Providence Island is the home of Nassau, the capital city of the Bahamas.

Property marketing just started and will continue for about six to eight weeks before agents call for offers.

Three agents of CBRE Hotels, a specialized advisory group within CBRE, are marketing the property together with Larry Roberts of NAI Bahamas Realty.