Angostura’s Tobago tango

With its latest project, the Golden Grove Estate/Buccoo project, the rum company has ensured the property market remains buoyant and that real estate in the sister isle is no longer left to chance.

The "Greater Golden Grove Project" as it is sometimes referred to, is expected to culminate into one of the finest gated communities and resorts of its kind in the Caribbean.

The Samaan Grove lots range from 7,500 sq ft to 12,000 sq ft and are currently being sold at $85 per sq ft. When the lots were first offered for sale about two years ago, they were being sold at an amazing $40-45 per sq ft. Eighty percent of the lots have been bought by Trinidadians; the rest by foreigners. Only two of the plots have been bought by "full-fledged" Tobagonians.

According to Executive Manager, Properties, Kevin Kenny, Angostura has been pleasantly surprised at the enthusiasm with which the plots are being bought, having started the project only two years ago.

Capitalising on the surge in the price of real estate, some buyers have chosen the option of re-selling their plots, which, according to Kenny, is normal in the business.

The buyers have been given four years from the initial date of purchase to build their homes, he said at press briefing recently.

Initially, the environmentally sensitive project was met with reluctance by members of the community as well as some environmental activists who wanted to protect and preserve the natural surroundings

"There was a lot of mischief by those who opposed the project and who were protecting a lifestyle in Tobago that they don’t want to see changed," Kenny said.

In his view, nothing is wrong with development if at the end of the day it creates a comfortable habitat. He pointed out that no species were harmed during the development.

Kenny said while they were also told that nothing could be done on time in Tobago, he boasted that the Samaan Grove development had been completed four months before schedule and "with money to spare." The resort juxtaposes a glorious three km of sandy beach, with views across Buccoo Bay, Bon Accord Lagoon and Buccoo Reef. It also comes with natural surroundings : luxuriant lush mangrove forest and an abundant stands of samaan, coconut, bursera and other large hardwood trees.

When completed, the proposed development will comprise a five-star hotel, two luxury condominium complexes, a championship 18-hole golf course, large single-family villa lots, multi-family villa cluster units and an array of recreational amentities.

A sneak preview of the Golden Grove Estate was given recently when the media was invited to view models of the Homes of Samaan Grove Develop-ment.

Angostura has designated thirty of the four hundred and thirty acres of the Golden Grove Estate to the Samaan Grove project, which is being developed independently of the overall resort This though is still in the planning process and awaiting approval from the Environmental Management Authority (EMA).

As the first phase of the five-star integrated gated community, the one hundred and twenty-five homes of Samaan Grove will be put on the southern-most edge of the existing Golden Grove estate and will either back onto the proposed championship golf course and lakes on the northside or Canaan village on the south-side of the resort.

Samaan Grove can be accessed through the main gate off the Golden Grove Road.

With four Caribbean-style architectural designs customised to a range of different configurations the medium-sized single family homes, which vary in size between 115 sq m and 215 sq m, have been described as "a good investment" by analysts.

"The integrity of these designs ensure that the Samaan Grove properties maintain their value, while providing cost-effective construction options for the owner who may chose to re-design to comfort," according to Angustura. The basic Samaan Grove home consists of three or four bedroom units, living and dining rooms, kitchen, toilet and bath, plunge-pools and parking space for four cars.

An unfurnished completed structure has been estimated between TT$1.1million - TT$1.8 million dollars and could be cheaper or more expensive depending on the type of finishings used.

However, twenty-three new units would be available for sale within the next two weeks as the company has been given approval to develop a 6.6 acre parcel of land into lots.

Five of these lots have already been booked but not paid for.

The project has also provided sustainable employment for Tobagonians who make up at least 70% of the labourforce.

Kenny said that the only major work left to be done on Samaan Grove is the installation of a permanent electricity supply.