October 21, 2016
Developers make final payment on lands at Mt Wynne/Peter’s Hope

The Canadian developers who have proposed a tourism development at Mt Wynne/Peter’s Hope have made the final payment for the 36 acres of land.

This was disclosed by Prime Minister Dr Ralph Gonsalves during a call to the Shake-Up programme on WE FM on Tuesday.{{more}}

The developers had initially made a $3 million payment and have since paid the final $4 million to the National Properties Ltd.

“The transaction is being made complete now because of the deeds and all of the rest of it, but they have paid their money. So, they would be in possession of the land,” the Prime Minster stated.

He noted that the next step for the developers would be clearing the land and preparing for construction.

Gonsalves once more noted that while the land was sold for XCD $7 million, there is much more money to be made during the construction of the proposed 50 villas and 200 room hotel rooms.

“You have 36 acres of land at $7 million; that is almost $200,000 an acre and then you look at the stamp duties which you will have on the 50 villas when they are constructed on the 31-acre plot. That will take you up to $7 to $8 million.

“Then, of course, the… 200-room hotel which is to be built and the construction work which people will get and then, of course, the trucking; then you will have farmers to supply produce. It will make a big difference down in Central Leeward and South Leeward and also North Leeward,” he noted.

He said there is the possibility that the project would create “a lot of jobs and a lot of wealth for people” because of the linkages with tourism.

The sale of the land to foreign investors is being opposed by the opposition New Democratic Party.(CM)