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Grenada’s Secret Underwater Gallery Revealed

June 25, 2009Article by Ray Withers

The hidden underwater sculpture gallery off the coast of Grenada is one of the island’s best-kept secrets – and just one of the reasons investors should consider Grenada real estate.A must-visit destination for divers, the gallery 24 feet under the clear, warm pristine waters of the Caribbean, is a stunning work of art and a haven for sea life.

The sculptures are standing in as a new reef system after hurricanes wiped out the natural habitat for many sea creatures in coral reefs.In 2006, Jason De Caires Taylor, an artist and diver, began casting cement statues and sculptures and immersing them in Moliniere Bay, just off the cost of Grenada in the West Indies.

“Hurricanes have wiped out a lot of the coral in Grenada, and the places that weren’t damaged got all of the tourism, causing further degradation. The sculpture park eases the strain a bit,” said Taylor.
The largest sculpture, Vicissitudes, is a ring of child statues holding hands.“It’s a comment on how children are affected by their surroundings and absorb everything around them,” said Taylor. “As the coral grows, they change in complexity.”Images of the remarkable undersea gallery are on view at Taylor’s web site.

Diving is just one of the attractions making Grenada climb the ranks towards one of the Caribbean’s top tourist destinations.The former Spice Isle has all the ingredients for a superb holiday – with miles of white sandy palm fringed beaches, sub tropical forest and a mountainous interior.The island has easy air links with many US and European cities and the cost of living is very cheap compared with other holiday destinations.

The Grenadine government is carefully controlling tourism and resort development to try and keep the island an exclusive and uncrowded destination.From £71,550, investors can buy accommodation with a 70% loan-to-value mortgage with returns predicting net yields of between 11.3% and 14.3%

Owners can play out their tropical island fantasies with four weeks personal use per year.Bacolet Bay, Grenada, will feature a holistic spa created by the renowned designers of the Armani spas in Tokyo, Dubai and Milan. This resort features a beachfront wedding chapel, and crèche.Currently, Grenada has a handful of five-star hotels and resorts. Occupancy rates stand at 89% during the peak season, whilst a conservative estimate for future occupancy rates over the year is 65%.

Bacolet Bay is on the ‘quiet’ side of the island, away from the busy capital St George’s and the regular fleet of cruise ships that drop off day-trippers, but still only a short drive away from the hustle and bustle of the city, its bars, shops and restaurants.

Author

Ray Withers

Ray has over 17 years’ experience in the international property market and bought his own first international property investment back in 2002. Aside from running Property Frontiers, Ray has been involved in residential, hotel, student and commercial property investment and development in both the UK and overseas and co-wrote "Where to Buy Property Abroad - An Investor's Guide". As Founder and Trustee of the Frontiers Foundation, Ray is directly involved with many of its projects to ensure they have a direct and tangible impact in individual communities across the globe. He is passionate about property, travelling, scouting out new opportunities and finding time to spend with his young family.
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