The Abaco Club on Winding Bay is now 100 percent owned by Southworth Development, a Boston-based company, which plans to immediately invest a further $10 million into the property, according to a press release issued by the company.
The release said that work has already begun at the property, described as a private community “featuring luxurious island homes, a 2.5-mile white sand beach, the best golf course in The Bahamas and a host of other five-star amenities”.
“Southworth purchased the interest of the member-investor group that originally partnered with the company to acquire the club from Marriott Vacations Worldwide, which had operated the property as a Ritz-Carlton Club location, in December 2014,” the release states.
“In the near future, plans also call for the creation of an on-property market, expanded food and beverage offerings, the launching of the club’s marina and boat slips in Little Harbour, upgrading of the club’s spa and fitness facilities, expansion of its beach toy recreational offerings, the building of several new residences and more.”
Scott Andrews, a member-investor in The Abaco Club, said in the release that Southworth seems “committed” to a secure future for the site.
David Southworth, founder and CEO of Southworth Development, said in the release: “When we first looked at The Abaco Club, we knew it was some place very special.
“The community had everything money can’t buy, and we were delighted to have had the opportunity to help guide the club forward. Now, with the full support of the member-investor group, we’ve embarked on the process of adding everything else worth buying – things that we believe will make The Abaco Club the premier private club community anywhere in the tropics. It’s tremendously exciting, and we can’t wait to share our vision for the club with the world.”