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Realtors Limited

Barbados, WI Phone246 432 6930 Fax246 432 6919 Websitehttp://www.realtorslimited.com

Category
Real Estate Agents
Island
Barbados
Resort Area
Holetown

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At a glance

Realtors Limited is the longest operating Barbados real estate company. and has been at the forefront of Barbados property sales since 1952.

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Journalist’s Review

In Depth

Realtors Limited, founded in 1952, is the longest operating real estate company on Barbados. Owned and still managed by Nick Parravicino, a leading figure on the island, it has been at the forefront of Barbados property sales for all of that time and has built up an immense loyalty both among its staff and among the many wealthy foreign house owners who own property there.

Like many great businesses on Barbados, the company is a family affair - Nick Parravicino and his late wife Sheila, a secretary for Realtors at the time, took Realtors over in 1954 and have been the driving force behind it ever since. For many years they were a team of just three (members of staff), the third of whom was Noreen Patterson, Nick's sister, who took charge of the long-term rental department.

The real estate business was very different in the early 50s. Most of the sales were in the residential districts of the island and property was sold in Pounds, Shillings and Pence. Most of the real estate on Barbados was offered for sale by lawyers and every Friday there were auction sales in various attorney's offices. Nick would attend the sales and, for those properties that remained unsold, he asked if they would let him try to sell them by private treaty.

This is where it all started, but it took a while. The pace of the island in the 50s was much slower and Nick Parravicino is famous for saying that when the company first started, the only time the phone actually rang was when it was a wrong number. The development of the West Coast itself really began later in the 50s. To begin with the land was unwanted. In the earliest years Nick Parravicino sold the land where villas such as Moonfleet, Baggywrinkle & Focs'l stand today for 30 Barbados cents per sq ft! At the time a leading attorney commented: 'Nick, the Parravicinos are honest people. How on earth can you sell a piece of earth with sandflies, mosquitoes and the afternoon sun baking you for that kind of money?’ Today, land in that same area (Realtors is currently involved in a deal) is nearly Bds$200 per sq ft.

It is a similar story on the south coast of the island, which was developed for years. Land in residential local districts like Navy Gardens, Graeme Hall Terrace, Rendezvous Ridge sold for 50 Barbados cents per sq ft and the lots were between 10,000 & 20,000 sq ft. Today, a similar thing would sell for around Bds$20 per sq ft.

Soon it began to change however, as Sandy Lane started to be developed. Nick became friendly with Ronald Tree and was given the opportunity to sell land on the Sandy Lane estate. This was immediately successful and as Barbados's illustrious crowd of visitors began to put down roots on the island by purchasing property, so his business and roll call of famous clients grew. Among the first to purchase at Sandy Lane were Lord Kindersley, Henry Breck, Lord Rothschild and Lord Astor, all choosing to build on beach lands at Sandy Lane but in those days a four bedroom house would cost no more than Bds$200,000. Today, such properties would fetch several millions.

Another visitor was Oliver Messel, who gave up the theatre design world in London to live most of his life in Barbados. He and Nick worked together on many of the houses on the island, and Messel introduced many of his influential friends to Barbados. Although the houses he built still have their mark today, it seems that Messel was not the easiest of masters. He would build what he thought was lovely – and no doubt the owners of the house thought the idea was lovely too. But if Messel decided that the result was not quite what he wanted, he would have it all pulled to the ground and started over again! When HJ Heinz II bought Leamington and had Oliver Messel re-do the house for him he was heard to say that you had to have a ‘contented mind and a steady flow of money’.

In the early years Realtors was located in Bridgetown, at the corner of Roebuck & Coleridge Street, moving as it grew to River Road, St. Michael but in 1993 they made a move to the West Coast, where the majority of their sales and villa rentals were situated. They opened a second office in Hastings on the South Coast in May 2008, which is now located within their Palm Beach condo development. Nick and Sheila Parravicino had two sons, Michael and Roger, and now have 4 grandchildren. Michael trained overseas with Hamptons and returned to work alongside his father in 1975, running Realtors Limited. Sadly he died in 2002.

The company now has approximately thirty staff. Nick Parravicino still heads up the team as Chairman, while Suzanne Davis (who was Michael’s right hand for 15 years) is Manager of Real Estate and Business Development. Bruce Parravinco (Nick's eldest grandson) is Manager of Reservations and Property Management for the rentals side of things - Realtors Limited - and Samantha Weikel takes care of web administration and assists with marketing, alongside Allison Gill. There are three reservationists, seven administrators who oversee the smooth running of the villas that they manage and rent, five real estate agents, three secretaries, two receptionists and nine staff in the accounts department.

Buyer's Guides for Barbados Real Estate

Procedures for Non-Barbadian Real Estate Buyers - Land and property are available without restrictions to non-nationals but a non-Barbadian buyer must first get permission from the Central Bank of Barbados. This step is merely a formality.

Vendors are liable for the property transfer tax which is charged at the rate of 2.5% of the purchase price. There is no purchase tax for buyers.

All money brought in for the purpose of purchasing property must be registered with the Central Bank of Barbados. The Central Bank guarantees repatriation of this amount on sale of the property.

It is advisable to employ the services of an attorney-at-law and a reputable real estate agent to handle these transactions. Legal fees are approximately 1-2% of the purchase price - plus VAT.

Mortgages  - These can be arranged through various banks but you have to prove that you are capable of repaying the Mortgage from personal income (not rental income).


Important Notice

No description or information given whether or not in this review and whether written or verbal information about Barbados may be relied upon as a statement or representation of fact. Neither DefinitiveCaribbean, Realtors nor its joint agents have any authority to make any representation and accordingly any information given is entirely without responsibility on the part of Realtors or DefinitiveCaribbean.

Commercial Sales

Below you will find a small sample range of the properties that Realtors Limited have for sale on Barbados:

  • Brighton Terrace

    Price: US $1,250,000
    Brighton Terrace

    Commercial property being sold as a going concern catering business. Sale includes a three bedroom house, out buildings, two offices and an operational restaurant business in Mall 34.

    Location: Barbados, WI

  • El Sueno

    Price: US $1,300,000
    El Sueno

    This distinctive 3 bedroom, 3 bathroom property can either be bought as a home or for use as a commercial venture. Located amidst a very popular area close to all amenities and famous beaches at Worthing, El Sueno sits on 3,663 sq ft of a 23,870 plot. Unique features include old-fashioned black and white floors and a wooden staircase leading to a tower.

    Location: Barbados, WI

  • Radnor

    Price: US $2,500,000
    Radnor

    Built in the 1800’s, Radnor is a traditional Barbadian Plantation House with an elegant driveway surrounded by tropical gardens. There are four bedrooms, three bathrooms, a formal dining room, sitting room, living room, family room and large patio. The grounds at Radnor are ideal for entertaining and there is a tennis court on property too. Land Area: 130,680.00 square feet (approximately).

    Location: Barbados, WI

  • Waverly and Staten

    Price: US $1,350,000
    Waverly

    Waverley and Staten are two lots in the up and coming commercial area of Hastings in Christ Church. The building at is in need of repairs and lies on approx. 24,500 sq. ft, whilst Staten is approximately 31,000 sq. ft. of land. Both stretches offer great views of the Barbados beaches and are on a prime location for developers and investors.

    Location: Barbados, WI

Condo/Townhouse Sales

Below you will find a small sample range of the properties that Realtors Limited have for sale on Barbados:

  • 14 Ridgeview Estate

    Price: US $447,500
    Ridgeview Estate

    A pleasant 3 bedroom, 2.5 bathroom townhouse with a private plunge pool, 14 Ridgeview Estate has an open plan kitchen with living/dining area, a cloakroom and combo washer/dryer. The master bedroom has a patio overlooking the pond. Estate amenities include a communal pool, small gym, tennis court and children's playground.

    Location: Barbados, WI

  • 2 Mango Court

    Price: US $395,000
    Mango Court

    Charming 2 bedroom townhouse in the peaceful residential area of Porters, St James. Spacious living area, modern kitchen and a communal swimming pool

    Location: Barbados, WI

  • Coral Cove

    Price: US $1,400,000
    Coral Cove

    6 Luxury apartments and condominiums for sale on a superb West Coast beachfront location. Each spacious unit offers an excellent level of privacy looking out to the sparkling Caribbean sea.

    Location: Barbados, WI

  • Palm Beach

    Price: US $1,050,000
    Palm Beach

    op quality condominiums set in the heart of the South Coast, next door to the Amaryllis Resort. Fifty nine residences with the option of two or three bedrooms, each featuring en suite bedrooms, a spacious master suite, large outdoor terrace, open plan living and dining area, kitchen and utility room.

    Location: Barbados, WI

  • Villa Del Ray Apt. #1

    Price: US $495,000
    Villa Del Ray

    Stylish and elegant ground floor apartment at Sunset Ridge. Large communal pool, easy parking and landscaped gardens in a peaceful residential area.

    Location: Barbados, WI

Land Sales

Below you will find a small sample range of the properties that Realtors Limited have for sale on Barbados:

  • 20 Prior Park Crescent

    Price: US $425,000
    20 Prior Park Crescent

    Ideal for someone looking to build their own family villa, 20 Prior Park Crescent is close to the banks, schools and shops of Holetown and Speighstown as well as the world famous beaches and restaurants of the west coast of Barbados. Land Area: 94,859.00 square feet (approximately)

    Location: Barbados, WI

  • Coral Cliff

    Price: US $640,000
    Land for sale in Barbados, Realtors Barbados Limited

    Giving wonderful views of both the countryside to the east and the coast to the west this prime piece of land in St. Peter sits on a breezy ridge overlooking Port St Charles - a great spot for a family looking for yachting facilities. Land Area: 21,542.00 square feet (approximately)

    Location: Barbados, WI

  • Fortescue

    Price: US $112,500
    Fortescue

    Fortescue is a flat piece of approximately 16,403 sq ft of land. The Palm Court area in St Philip is a peaceful neighbourhood with minimal development at the moment and offers beautiful views to the sea and cooling breezes all year round.

    Location: Barbados, WI

Villa Sales

Below you will find a small sample range of the properties that Realtors Limited have for sale on Barbados:

  • Anchorage

    Price: US $2,900,000
    Veranda at Anchorage, Realtors real estate

    Beautiful villa adjacent to the world famous Sandy Lane Golf Course and a short walk away from Sandy Lane Beach. The property is elegantly furnished, has a large swimming pool, a double garage and also includes a cabana at Sandy Lane Property Owners’ exclusive beach facility.

    Location: Barbados, WI

  • Bottoms Up

    Price: US $376,000
    Bottoms Up

    Bottoms Up is a front row villa with spectacular sea views at Atlantic Rising - a quiet, residential neighbourhood in St Philip. This particular two bed, 2 bath unit offers landscaped gardens, white picket fences, a garden with pergola and coral stepping stones as well as space to add a small pool. A short walk through the garden leads you to one of Barbados's most pristine and untouched beaches.

    Location: Barbados, WI

  • Emerald Manor

    Price: US $1,300,000
    Emerald Manor

    A well presented four bedroom home in the peaceful area of Pleasant Hall. Elegant rooms, swimming pool, pool house and terraced patio. Floor Area approximately 3,973 sq. ft. Land Area about 2500 sq. ft.

    Location: Barbados, WI

  • Jamoon

    Price: US $4,800,000
    Jamoon

    A spacious newly built seven bedroom house of the highest quality, situated on the exclusive Sandy Lane Estate. Cleverly furnished with a blend of modern and antique furniture throughout the open plan design of the property. Large secluded swimming pool with decking area.

    Location: Barbados, WI

  • La Casa

    Price: US $2,400,000
    La Casa

    Built in 1974 and refurbished in 2007 La Casa is a peaceful villa with three bedrooms, two bathrooms, a cloakroom, a light oak kitchen, a courtyard and a dining room in the main house as well as a two bedroom, two bathroom cottage hidden in the garden. Both buildings share the private pool area and provide easy access to the facilities at Sandy Lane. Floor Area: 3,314 square feet (approximately) Land Area: 43,560 square feet (approximately).

    Location: Barbados, WI

  • Mahogany Grove

    Price: US $360,000
    Mahogany Grove

    A very pretty, gated, three bedroom villa located on the prestigious Sandy Lane Estate. Elegantly furnished, good entertaining areas, lovely gardens on 49,982 sq.ft. plot. Floor Area approximately 4,595 sq. ft.

    Location: Barbados, WI

  • Tortuga

    Price: US $4,950,000
    Tortuga

    An impressive three bedroom property with two private pools and tropical gardens. Located on the popular Turtleback Ridge, this property offers spectacular views of the west coast and the ocean. A must see.

    Location: Barbados, WI

  • Windy Ridge

    Price: US $5,500,000
    Windy Ridge

    A unique villa in the exclusive neighbourhood of Turtleback Ridge, Windy Ridge offers marble floors, hand-painted high ceilings, glass doors, patios, wet bar, infinity edge pool with Jacuzzi, gazebo, and beautiful views of the Platinum Coast over mahogany trees and royal palms. This 4 bedroom, 7 bathroom property sits high on a ridge, so the view can not be obstructed by future development. Floor Area: 7,072.00 square feet (approximately)

    Location: Barbados, WI

Commercial Sales

  • El Sueno

    El Sueno
    Price: US $1,300,000
  • Waverly and Staten

    Waverly
    Price: US $1,350,000

View all Commercial Sales

Condo/Townhouse Sales

  • Palm Beach

    Palm Beach
    Price: US $1,050,000
  • 2 Mango Court

    Mango Court
    Price: US $395,000

View all Condo/Townhouse Sales

Land Sales

  • Coral Cliff

    Land for sale in Barbados, Realtors Barbados Limited
    Price: US $640,000
  • 20 Prior Park Crescent

    20 Prior Park Crescent
    Price: US $425,000

View all Land Sales

Villa Sales

  • Bottoms Up

    Bottoms Up
    Price: US $376,000
  • Emerald Manor

    Emerald Manor
    Price: US $1,300,000

View all Villa Sales