By: Staff Writer
March 19, 2021
A luxury British Virgin Islands (BVI) developer had “best start in 10 years” with finding buyers despite the COVID-19 pandemic, with predictions that the BVI market will “remain hot.”
Shaylene Todd, sales and marketing director for Oil Nut Bay, BVI told Caribbean Magazine Plus about Oil Nut Bay and the new Ocean Neighborhood. She said that interest has been strong for the new Ocean Villas because the neighborhood is positioned right at the ocean’s edge.
She said: “Positioned right at the ocean’s edge with zero setback, these tropical retreats are unlike anything you will experience Caribbean-wide. Floor to ceiling glass doors and windows frame endless ocean views and open up onto an expansive overwater deck and sparkling infinity swimming pool. A calming coastal colour pallet is perfectly paired with elegant beach-inspired accents for a setting that is entirely soothing and serene.
She admitted however that: “Sales were a bit slow right when the pandemic hit and the BVI shut down, but our sales team quickly pivoted to virtual showings. We had a full house at Christmas, which led to several sales and our best start in 10 years, both in land sales and new construction. Sales have been strong as Oil Nut Bay is a perfect fit for prospective homeowners who are gravitating towards more remote, isolated, low density multi-generational destinations with well-spaced homes and private amenities and grounds.”
Oil Nut Bay’s developer, David V Johnson, a real estate developer of over 30 years and the chairman of Victor International Corporation, based on Michigan, USA had searched for over 10 years trying to find the perfect locale for this luxury development. Mr Johnson also owns the YCCS Clubhouse & Marina, also in Virgin Gorda, BVI as well as property holdings in Michigan.
Oil nut Bay will include just 117 homes at completion. There are six remaining Ocean Villas, including three three-bedroom turnkey Ocean Villas, with the first priced at $5.95M, land and home included. The remaining three are on offer as blank slates upon which to create the ultimate dream home. The home sites in this neighbourhood range from $4.45M-$7.95M and can house 3-6 bedrooms,” said Ms Todd.
The property also has beach club amenities, including facilities for snorkelling and other water sport activities, tennis, horseback riding, plus a 93 berth marina anchored by the property’s signature over water restaurant, Nova.
Ms Todd also said that: “The $5.95M Ocean Villa price is a one-time only offering for the first spec home sold in the neighbourhood. The land cost for the other homes starts at $4.45M for land only. We are making the one-time all-in price for the first spec home incredibly appealing for a lucky buyer, as it will be easier for others to purchase once they see a model.”
She added: “Two new turnkey and fully-furnished villas are also available in the Marina Village with pricing starting at $3.95m. Homes are located a quick walk away from the marina and the main amenities in the Marina Village, and owners will have access to everything at Oil Nut Bay. And our last remaining beach lots are available in the Peninsula neighbourhood where owners can build their dream home in under two years.
Ms Todd predicts that the real estate market in the BVI will “remain hot” and “the demand for second homes in beautiful locales will continue. People will continue to prioritize health, wellness and family. Oil Nut Bay will continue to be in demand due to its exceptional setting, sustainable nature and privacy.”