The Bahamian government this week announced that it has sold the historic Lighthouse Yacht Club and Marina to a collection of local marina and hotel developers. The sale to an entirely Bahamian consortium of investors was applauded as a win for the local community.
The Lighthouse Yacht Club and Marina was currently a 31 Slip marina named for the 1800s lighthouse that marked the entrance to the Fresh Creek Channel in Andros. In 2016, Hurricane Matthew destroyed the club and marina that operated there and it never reopened. This purchase creates the opportunity to redevelop, restore and reopen the property to boaters and the public.
The consortium of developers is led by Brian Hew of Coconut Bay Ltd and Dana Wells of Graham Thompson. Beyond this purchase, Coconut Bay owns and operates Kamalame Cay in The Bahamas and Graham Thompson is the largest commercial law firm in the Bahamas.
According to Eyewitness News in the Bahamas restoration is scheduled to begin in Q4 of this year and operations should resume in 2022. The team behind the purchase expects that the Lighthouse Yacht Club and Marina will employ about 70 to 100 people during construction and 60 to 80 full-time employees when it ultimately reopens.
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