Business mogul Chris Blackwell has launched a US$ multi-million resort development on 100 acres of land adjacent to James Bond Beach in Oracabessa, St Mary that should gross at least US$100 million.

The residential resort is being built around Goldeneye and is named for the house where famed writer Ian Fleming penned his James Bond thrillers while living in Jamaica.

An artist's impression of the residential resort being built in St Mary by Chris Blackwell.

A winter 2008 completion is set for the project that will see the construction of approximately 90 rustic villas and cottages in a lush tropical setting. The exclusive high-end resort surrounding the Oracabessa Bay will feature such creature comforts as its own marina, swimming pools, spa, a natural secluded lagoon and offshore bar.

The Business Observer was unable to ascertain the exact expenditure by Blackwell but sale of the villas and cottages alone will rake in close to US$100 million for Island Outpost, the company behind the development.

Island Outpost also manages Caves in Negril, Jakes in St Elizabeth, Strawberry Hill in St Andrew and the original Goldeneye resort in St Mary.

Blackwell, who, as owner of Island Records is credited with putting Bob Marley on the international scene, previously operated Goldeneye as a boutique hotel with some six cottages and 10 rooms added to Fleming's original house.
This expansion to a high-end resort is being done around clusters of 10 villas and cottages each spaced over the sprawling property.

Roger Brown, director of development at Island Outpost, explained that each cluster will have its own ambiance based on the location, for example lagoon villas, cove huts and waterfront Bond suites. Cost of the units will average US$1 million each.
Additionally, 10 lots are being offered to purchasers who wish to have their villas reflecting their own style and character.

Construction, however, will have to be under the direction of the developers to retain the ambiance of the resort. For instance, no building should be higher than tree height. "We have a very strict planning code using our parameters, but we welcome individuality," Brown said.
"It's more a residential resort catering to different tastes but run as one complete village," he said.

Purchasers buying into the exclusive Goldeneye club should expect to pay a monthly maintenance fee between US$1,000 and US$4,000 to be in good standing, and the developers have instituted a rigorous selection process requiring, among other things, a three-year record of tax returns.

The project will be implemented in two phases, the first consisting of 40 villas and cottages with phase two having approximately 52.
Blackwell's worldwide overtures, capitalising on the Bond popularity, have reaped sweet success, as the Business Observer was told that 50 per cent of the villas in phase I have already been sold.

"Late last year, we went on the market to New York, Los Angeles and London and on that basis we received 50 per cent reservations on the units," Brown told the Business Observer.
"Response has been very encouraging and the Bond legacy is a favourable instrument for us, but it's not a Bond theme park," he emphasised.

"It's the birthplace for Bond, it makes it different. The Bond legacy gives you an edge, but we are respecting the Fleming legacy rather than a Bond brand," he added.

Purchasers in the exclusive club have come from all over the globe, including Jamaica where the property is being sold exclusively through Coldwell Banker, the local agents.
"We do have some investors from Jamaica," Brown confirmed.

Mortgage financing is available through FirstCaribbean International Bank/Canadian Imperial Bank of Commerce (CIBC) and Wachovia out of the US and investors will have the option of renting their villas under the management of Island Outpost.

Brown said that phase II was launched in Miami mid-January and the team would be continuing its worldwide trek to US cities Chicago and Atlanta as well as Dublin in Ireland; London, England; Paris, France; and Milan in Italy.

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