Above: the former Sonesta in Bermuda
By the Caribbean Journal staff
The site of the former Sonesta Hotel in Bermuda has been sold, according to global brokerage Jones Lang LaSalle, which handled the transaction with Bermuda’s Rego Sotheby’s International Realty.
The 32-acre site was purchased by Peter, Alexander and Andrew Green from a US-based financial institution.
The Greens also own the Fairmont Hamilton Princess, which they purchased last year.
“The combination of the location of the site, its superior characteristics and the renewed interest by international investors in high-quality, resort development sites resulted in tremendous investor interest,” said Scott Cullen, senior vice president at Jones Lang LaSalle, who led the sales team along with Joshua Gleiber and Justin Bates, in a press release.
The property includes three pink sand beaches and is approved for 88 residential units and a resort hotel. Of those, 47 units can be purchased by non-Bermudians.
“The focus by the Bermudian government on attracting the international development community and its renewed concentration on attracting international tourists assisted with our marketing efforts,” Gleiber said. “We applaud the government’s efforts – both the prior administration and the current one – and thank them for their efforts in executing the transaction with the Green family.”