Above the Break
- May 31st, 2011
- in Yachting
Floating Above the Break
How Nanny Cay Village defies downward trends
For the past two years, the waterfront townhouses with docks at Nanny Cay Marina have thrived in a slowly reviving market, gradually appreciating in value along the way. The promising properties have flourished in an otherwise floundering global economy, begging the question: What has worked? Within Nanny Cay, where business bustles and the full-service marina caters to its clients, the Nanny Cay Village acts as a low-maintenance home to traveling yachters, savvy investors and resourceful families alike.
Nanny Cay Village sits in the heart of the marina and, once completed, will consist of 32 two- and three-bedroom townhouses, each with their own dock. To date, 22 homes have been sold, 16 of which have been completed and are occupied, with another 8 homes due for completion within the next 12 months. As of press time last month, there were 10 homes available for purchase at prices starting at $850,000. Homeowners and their guests get full use of all the facilities at Nanny Cay, including the beach, pool, two restaurants, shops and all the marine and yard facilities for their boat(s).
So who is buying these homes and why? Chris Smith of Coldwell Banker, who’s tasked with selling the remaining units, said, “Our typical buyer at Nanny Cay to date has been that couple who has been sailing in the BVI for many years,” he continued. “This couple probably keeps a boat down here, and can afford a much more expensive, larger villa but he doesn’t want one. He’ll want a bigger boat. She, on the other hand, would like to be land-based—and the happy compromise is to buy a well-designed waterfront townhouse where he gets to park his yacht in the marina and his RIB outside his front door.”
Hill Branscomb, a US resident who has purchased a two-bedroom unit that is currently under construction and will be completed by November of this year said he was was hooked on the idea to move to the BVI, after trolling its azure waters. “After sailing in the BVI for several years my wife, I fell in love with the place and wanted to find a way to spend more time here as we approach retirement,” he said. “We are both still working and we didn’t need a maintenance headache. We were looking for a place that would allow us to show up, relax and enjoy without any hassles. We wanted to be able to lock it up and leave, securely store the boat, maybe rent the place out, if we choose to, when we’re not using it to cover some of the expenses.”
For Hill, the dockside homes offered the perfect accommodations. “We can stay home for a few days, take the boat out round the islands for a week when the weather’s just right, and then come back home to unwind," he said. "We love being able to stick our runaround boat right off the deck. What else could we ask for?”
Nanny Cay offers owners an entirely optional rental program which is managed through Nanny Cay Hotel. Most of the Nanny Cay Village homeowners said they purchased in part because they knew their home could be looked after and rented out—even when they’re off island. After speaking with Gareth Thomas, who purchased a three-bedroom home at Nanny Cay Village, we discovered that there is another set of owners who live and work in the BVI and who have chosen to call Nanny Cay Village their full-time home. "The Nanny Cay complex has really come alive in the past 10 years, and is now one of the most popular places to be at the weekend,” he said. “You will see the kite surfers, windsurfers, young sailors learning to sail and regatta hard cores all sharing the waters peacefully. With the amenities, a safe place to bring up small children, along with a professional approach to management, it was an easy choice."
For many vacationers and residents alike, the laid back Caribbean lifestyle in the BVI is addictive. And for happy Nanny Cay homeowners, life seems just that much easier within the inclusive marina.
Nanny Cay Village Summary
Waterfront Townhouses with Docks
Price range – From $850k
For more info contact:
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