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Jamaica News - Real Estate - Sales  
Source: Jamaica Gleaner, Barbara Ellington - August  18, 2005
Huge new investments for Jamaica -Blackwell sells US properties
NOT MUCH has been heard about Chris Blackwell in Jamaica lately. That is about to change.

The hugely successful businessman, Hon. Chris Blackwell O.J. will, in 2006 invest $6.2 billion in his resort properties at Golden Eye in St. Mary, The Caves in Westmoreland and Strawberry Hill in St. Andrew.

The founder of Island Records with such music legends as Bob Marley, U2, Blackwell also runs Palm Pictures, an entertainment company, and the Island Outpost resort group, with properties in Jamaica, the Bahamas and South Beach, Miami. To fund the Jamaican investments, those Florida hotels were sold last year.

The canny investor has an eye for undervalued talent. At one point, he had 10 of the Miami hotels in his portfolio, bought when the properties and the areas in which they were located were in need of renovation. The properties were gradually redeveloped and sold off.

Mr. Blackwell said the expansion plan for the Golden Eye Resort and Spa is now at the phase where permits for sub-division and architectural drawings are being finalised. Construction will begin early 2006.

"We will be putting in 10 beach cottages, 10 spa cottages, 10 three and four bedroom villas, 10 huts and 32 suites. This original structure will remain intact," Mr. Blackwell said.

The additional villas and cottages have already been reserved by prospective buyers but are not yet sold he said. All are priced for very upscale buyers so the Golden Eye property, formerly owned by author Ian Flemming, will retain it's following of high-end visitors who prefer the luxury and privacy it offers.

Mr. Blackwell said owners can put their properties back under Golden Eye's management. The same idea will be replicated at The Caves in Negril, Westmoreland where three bedroom cottages are to be built.

"The idea is that people can come for several months at a time and live at their cottages. Technology allows you to live anywhere and continue running a company; these cottages are in a secure and managed environment, which is ideal for prospective owners."

At Strawberry Hill, the original intent - a retreat for Jamaicans and foreigners - will be maintained. But the 45-acre property will see the addition of a yoga deck to facilitate guests who have been demanding that facility.

The yoga deck will also feature a mini bar and offer a breathtaking view of St. Catherine's Peak.

There are no immediate plans to add to the present cottages that can accommodate 26 guests. There will be greater emphasis on attracting Jamaicans, especially with the new 'Unwind' package. This will include dinner, massages, sleep-over and breakfast prior to departure next morning.

In the long term more rooms will be added at Strawberry Hill and the spa facilities will be further expanded.


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