NASSAU, Bahamas — A major US developer is targeting the purchase of Marriott’s 30-acre Barbary Beach landholding in what could be “a stepping stone” towards much larger efforts to revive Freeport’s economy, The Tribune reported o March 9, in an article written by Business Editor Neil Hartnell.
Multiple sources, speaking on condition of anonymity, revealed that Weller Development, which is presently spearheading a 235-acre waterfront redevelopment project in Baltimore, is negotiating the tract’s acquisition for transformation into a project featuring a marina with accompanying houses and bungalows, The Tribune reported.
“Tribune Business, though, was told that this investment could be just the first stage in a much bigger vision that could potentially see Weller Development fill the vacuum created by Hutchison Whampoa, and its Grand Bahama Development Company (Devco) affiliate, when it comes to real estate-based ventures that could regenerate Freeport’s and, by extension, Grand Bahama’s wider economy,” the article said.
The article added: “Several meetings are understood to have been held with the Prime Minister and the Government, with Dr Hubert Minnis pledging that his administration will ‘do whatever it can’ to help bring Weller Development’s vision and ambitions to life given that Freeport desperately needs an economic ‘game changer’ with several cruise line-led projects stalled due to COVID-19.
“This newspaper was told that Rupert Hayward, grandson of the late Sir Jack Hayward, is pushing the project from the Grand Bahama Port Authority’s (GBPA) side, with Fred Smith QC, the Callenders & Co attorney and partner, representing Weller Development. Erica Paine, of Graham, Thompson & Co, is acting for Marriott, with Robert Adams understood to be looking after the GBPA’s legal interests.
“Both Mr Hayward and Mr Adams declined to comment when contacted by Tribune Business yesterday, while Mr Smith could not be reached despite multiple phone calls being made and messages sent. However, the latter had previously indicated he was involved in the Marriott transaction, although he declined to provide details when contacted by this newspaper several weeks ago.” See complete Tribune article at http://www.tribune242.com/news/2021/mar/09/developer-targets-marriott-land-gb-stepping-stone/
