CBRE HOTELS ARRANGES SALE OF WORLD-RENOWNED FAIRMONT ROYAL PAVILION IN BARBADOS
Miami, FL – September 26, 2014 – (RealEstateRama) — CBRE Hotels arranged the sale of The Fairmont Royal Pavilion beachfront resort in Barbados, a world-renowned, year-round tourism destination with a reputation for friendliness. London & Regional acquired the property from Ivanhoe Cambridge. CBRE represented the seller.
“This property includes a 2.78-acre beachfront lot that is ripe for development,” said CBRE’s Christian Charre. “In addition, the Fairmont branding offers strong distribution channels and guests’ loyalty. Assets of this quality, prestige and reputation rarely come to market, and the property’s high underlying real estate value is supported by a robust residential market.”
Set on more than 17 acres of landscaped tropical gardens, The Fairmont Royal Pavilion offers 72 luxurious guestrooms with magnificent sea views, as well as a three-bedroom villa. Guests can enjoy the Palm Terrace Lounge and Bar, fine dining at the Palm Terrace restaurant and the informal Café Taboras poolside bar and restaurant. The property features 400 yards of frontage to powder white beaches, an outdoor freshwater swimming pool and Jacuzzi, and two floodlit tennis courts.
The Fairmont Royal Pavilion is prominently located in the exclusive St. James Parish along the desirable “Platinum Coast” of Barbados and is just 12 miles from Grantley Adams International Airport. Barbados is one of the Caribbean’s leading tourist destinations and is one of the most developed islands in the region. It attracts more than a half-million visitors each year.
CBRE’s Miami-based Christian Charre and London-based Owen Pritchard represented the seller.
CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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