frank jermusek | abaco club is sold in bahamas
TRANSCRIPT
SOLD
by Frank Jermusek
534-acre Abaco Club in The Bahamas
The 534-acre Abaco Club in Great Abaco has been sold.
The community in Great Abaco, The Bahamas was purchased in an all cash deal earlier in January by
Southworth Development. According to the developer, the purchase was a true partnership, with half the cash
coming from Southworth and from a group of residents, including some professional golfers.
In a press release, a spokesperson for the group of homeowners involved in the purchase agreed, “We have found the perfect partner in Southworth. Their track record of investing in and developing world-class communities offers us a real sense of security that The Abaco Club on Wind Bay will become the
pinnacle of barefoot luxury in The Bahamas."
The amount of the sale has not been disclosed.
Previously owned by a Marriot affiliate, the Abaco Club is the second property managed by Ritz-
Carlton to be bought by Southworth. !!
Southworth has been involved with other major courses recently, including the PGA Golf Course and adjacent community on Cat Island in the Bahamas.
The Abaco Club boasts a course an 18-hole, par-72 course designed by Donald Steel and Tom Mackenzie that spans two miles of beach and approximately four miles of course. While the course is unique in that its erratic topography differs from most courses in the Bahamas, Southworth has budgeted $50 million in
improvements over the next three years.
Such improvements would likely be to cater more towards the professional golfers who reside there with amenities like a professional-grade practice facility. The
practice facility would also, of course, be available to amateur or recreational golfers belonging to the club.
The purchase is expected to bring an economic boost to the area. According to Prime Minister Perry Christies, “Renewed interest and long-term investment in the property will benefit Great Abaco and The Bahamas in the form of increased home building, tourism and jobs.”
