By Liam Gladstone  10/02/2007 

Set against the clear blue waters of the Caribbean Sea, the 2000 acres of Grenada’s Ronde Island leave a powerful first impression. “It’s the ultimate paradise,” describes the island’s exclusive agent, Trevor David, ” and a blank canvas waiting for the right artist.” The striking cliffs, pristine tropical forests and rolling green hills evoke a younger earth, and in fact, that this highly desirable island is untouched by development comes as a surprise to many international real estate specialists. Chris Krolow, CEO of Private Islands Inc., is among them. “With billions of dollars being pumped into resort projects in the surrounding areas, it’s amazing that the property has remained undeveloped,” he says. “This is the largest private island available in the entire Caribbean- just imagine the possibilities.”

Clues to the island’s latent potential can be found nearby, in the neighbouring country of St. Vincent and the Grenadines. Lying just northward along the Grenadines chain, one island in particular may offer a glimpse into Ronde’s future- Mustique. The premier tropical destination for the world’s most discriminating elite, the exclusive enclave has stunning beaches, luxurious hideaways and a reputation for ensuring the ultimate in privacy for its celebrity visitors. Not only is the 1400-acre Mustique home to a thriving resort of 65 secluded villas, but also two hotels, a permanent population of 500, and the hottest nightclub in the Grenadines. Ronde Island shares the same gorgeous climate, warm Caribbean waters and at just a 3-hour flight from Miami, a highly convenient location for tourism. Numerous natural bays for harbours and an additional 600 acres of land even magnify the possibilities.

With the potential for hotels, marinas and even full-scale resort towns in mind, the question remains of how to evaluate a property on the level of Ronde Island. “Value assessments are always difficult for private islands due to a general lack of comparable properties,” according to Alexis Pappas, Director of Operations for Private Islands Inc. “And Ronde Island is literally incomparable. Nothing on the market even comes close.” But while private islands typically carry a premium, mainland real estate in the Caribbean may offer insight into Ronde’s true value. On the relatively unremarkable eastern shore of Grenada’s main island, 50-acres lots are routinely listed for upwards of US $5M, and in the resort towns that line the coast, even luxury condominiums can command US $2M. Seen as a more relaxed alternative to glitzier Antilles isles like St. Barts and Antigua, Grenada has a faithful following among those looking for a peaceful, beautiful place to vacation- and increasingly, live or retire.

 As the broker for Ronde Island, Trevor David gives his perspective on the challenges he and his clients faced when evaluating the property. Comparing the island’s beauty to a work of art or stunning piece of jewellery, David asks, “When a Jackson Pollock sells for more than US $140M and a single diamond is estimated at twice that amount, how do you put a price tag on one of nature’s wonders- and what would amount to your own kingdom?” It’s this universal sense of Ronde Island’s potential that makes the property so attractive, and in the eyes of many, more than deserving to be the most expensive on the market. Problems which were known to curtail the usability of other islands that have held that title, such as limited flatlands, remote locations, and heavy development restrictions, are not concerns with Ronde. With an accommodating host government, a prime locale near the USA, and room for resorts, hotels and thousands of residences, David conservatively estimates the investment potential of the island at more than a billion dollars. 

Looking back to the property that shares many of Ronde’s qualities, Krolow offers his own take on the island’s value. “Return Mustique to its natural state; add hundreds of acres, multiple natural harbours, and striking views of neighbouring undeveloped islands. Islands like this rarely become available, and are priced commensurately.” The virtually limitless opportunities for development aside, the island’s broker suggests an additional, less material motive for would-be owners. “On my first visit to Ronde Island,” says David, “I was overwhelmed by its beauty- it felt like heaven on earth.” He smiles, “What is heaven worth to you?”

It has come to our attention that an unscrupulous individual has spread rumours that Ronde Islands has been taken off the market. This is not the case, and is merely an attempt by a dishonest agent to compromise the marketing of this property. Please disregard any statements that the island is unavailable unless it has been marked as such on Private Islands Online

Filed under: Featured Island, Island Industry, Regional