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port st. charles marina
Preferred
vendor
n Republic Bank Barbados
Ltd.
One of the longest serving banks in
Barbados, Republic Bank Barbados Ltd.
has been in existence for over 30 years.
Formerly Barbados National Bank Inc., it
boasts one of the largest ABM networks
on the island and ten conveniently located
branches. The Bank offers an array of finan-
cial services such as personal, commercial,
lending, premium, corporate, and investment
banking. Its wholly-owned subsidiaries, Re-
public Finance & Trust Barbados Corpora-
tion and Republic Funds Barbados Limited,
offer funds management, lease financing,
and merchant banking services.
A group of investors with the JADA Group is
building another marina called Port Ferdinand,
just north of Port St. Charles. Austin describes
Port Ferdinand as “an engineering feat, running
inland, with a bridge that opens for boat traffic.
It is another competitor of ours, as it is a new
build, beautifully designed and furnished, but
they don’t enjoy as much beachfront as Port St.
are pretty unique in what we offer;
we are stretched across the beachfront, our prop-
erties are one bedroom up to five bedrooms, and
you can put your boat right outside.”
There are no plans to expand structurally at
Port St. Charles – the emphasis is on keeping the
standards high at this already fabulous resort.
Austin states, “My main goal is to manage the
resources we have here, and manage our sales.
We’ve been doing quite well on the sales front,
because even though we are an older, mature
property, we are established with a community
and a lifestyle that’s been built up over time.
There is nothing for people to wait ’re
re complete. The only queries are
mostly about, “How often do you paint?” In terms
of procedural things, we are going to be offering
drinks on our beach soon, and keeping up with
the impeccable service level that people expect.
No grand plan for changes.When it isn’t broken,
don’t worry to fix it.”
Port St. Charles’ relationship with the Republic
Bank is an extremely valued one. Austin shares,
“They helped up secure a bond to complete our
last three phases. After 9/11, we hit a snag and
didn’t know where the money would come from.
Since we were selling off plan, and then building,
we had no takers in the last three blocks. But we
knew it would be sold once people’s confidence
returned. So, we shut down construction for a few
months, but we didn’t want to lose momentum.
Republic Bank secured a bond from Trinidad for
30 million U.S. dollars and that is what finished
our product.” Port St. Charles also credits its suc-
cess to important long-term suppliers including
CGM Gallagher Insurance Co., BA Holiday, Expe-
dia,Williams Industries, and Preconco Limited.
Graduating from building entry level homes
–one, two, and three bedrooms starting at
$500,000– to selling homes up to $6.5 mil-
lion, Port St. Charles created confidence as it
progressed, succeeding beyond expectations,
because the community was built with the build-
ings. By the time it was finished, this well-planned
development was mature and sought after.Many
of those who bought in at entry level have seen an
ROI of more than 100 percent; affording the oppor-
tunity to sell at the best time of the year.
Austin sums up Port St. Charles as “an example
of how it should be done. In terms of planning
the development, rolling out the development,
and pre-selling it in phases. Some people might
call it conservative, but it allowed for changes
along the way. It lent itself to creating a lifestyle
that grew and developed.When complete, it was
easily sold to everybody. They felt welcome.”