Former MP lists Chub Cay property for 41M

Wed, Feb 25th 2015, 09:48 AM

Former Minister of Agriculture Ervin Knowles has decided to sell undeveloped property he owns on Chub Cay, property he said he has been amassing since the 1960s, and the listing agent has posted a price tag of $41 million.

The 164-acre property, known as called Frazer's Hog Cay, comes with plans for a $20 million to $25 million "billionaire's compound." Knowles said it had been his lifelong dream to build on the property, but time and other projects prevented that dream from reaching fruition.

Frazer's Hog Cay sits on the eastern end of Chub Cay, about 25 miles from Nassau. It is mostly raw land, although the Chub Cay International Airport does sit on the property along with some infrastructure and roads. Knowles is 81 and semi-retired from the construction industry.

Listing agent Eddy Martinez told the Wall Street Journal that architectural plans have been drafted for a compound that includes a roughly 22,000-square-foot, eight-bedroom, 12-bathroom contemporary home with a moat crossed by walkways. There are also plans for two smaller mansions and 16 Tiki-style bungalows on stilts that cantilever over the water.

Architect Enrique Rene Gonzalez of Gonzalez Architecture, based in Miami, Fla., said the compound would span about 20 acres and cost roughly $20 million to $25 million to build. Martinez said the property was appraised at $41 million in 2007. Another listing in the Berry Islands chain, a 24-acre property on Sand Dollar Cay, is asking $7.2 million, which Martinez pointed out is in line with their price on an acreage basis.

Click here to read more at The Nassau Guardian

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