DPM: Port Lucaya Marina sale represents rising tide for Grand Bahama
NASSAU, BAHAMAS — The request for proposals (RFP) for purchase of the Grand Lucayan on Grand Bahama will close on March 2, according to Minister of Tourism, Investments and Aviation Chester Cooper.
The government has been actively seeking to sell the property since walking away from the deal proposed by the Royal Caribbean Cruise Lines/ITM Group.
According to the Davis administration, that deal was not “in the best interests of the Bahamian people”.
The government is seeking to sell the resort for $150 million.
Last month, the minister said there were six credible buyers, with more coming to the table.
He said the government was retaining a broker to manage the sale.
The pre-qualification process was expected to be completed within six weeks, before a shortlist is developed.
Cooper has said potential purchasers must have a clear vision for the resort property and significant financial resources, as well as share the vision for Grand Bahama and outlook for tourism on the island and The Bahamas at large.
Asked about prospects of a sale of the Port Lucaya Marina, which is located in the area of the Grand Lucayan, Cooper said any new investment for Grand Bahama is positive, but he did not have details on that potential sale.
The sale of the Freeport marina is “under contract”, James Sarles, principal of James Sarles Realty and the realtor representing Port Lucaya Marina’s purchaser, told a local daily.
Cooper said the potential sale represents a rising tide for Grand Bahama that will “float all boats”, including the Grand Lucayan.
“The announcement in relation to the Port Lucaya and the Port Lucaya Marina and the Port Lucaya Hotel Development is a positive one,” he said.
“We have not yet received applications for this investment, given its foreign component, so I am not at liberty to disclose any information.
“We don’t have any details on it as yet.
“But anything that will put investment and shovels in the ground [for] the island of Grand Bahama to have the recovery, we would be in support of.”
He added: “A rising tide will float all boats and we look forward to hearing more about the investment.”
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