Status of Coral Beach Tennis Club
And Horizons Cottages
Update December 22, 2013: Finally after 10 months in receivership, both Coral Beach andáTennis Club and its sister property Horizons Cottages have been taken over by New York based CBC 2013, which is a subsidiary of Three Wall Capital and ROC Group (an investment group).
Update December 15, 2013
The redevelopment plan earlier announced by Brickman Associates who own the properties (both Coral Beach andáTennis Club and Horizons Cottages) had been scrapped, showing economic downturn as the reason. Subsequently both properties went into receivership which has now come to an end. A new buyer is yet to be found while both properties now remain closed.
Update: Mar 12, 2010
Brickman Associates owns the Coral Beach Club
and the Horizons Cottages
in Bermuda. Brickman and the Four Seasons Resorts and Hotels have recently made a joint statement that they will redevelop the Coral Beach Club area and the Horizons Cottages to build fractional or timeshare resorts.
There will be ownership residential units as well as rooms for hotel guests. The project is planned to start this year. As per the complete project plan, there will be 60 fractional and ownership units at the existing Horizons, and 20 fractional units and 150-room Four Seasons Hotel at the Coral Beach Club.
Roderick O'Connor, principal of Brickman, said: "It is our intention to commence the initial phase of the redevelopment later this year. Our plans for the initial phase include renovating several existing structures, and beginning construction on the amenity buildings and new hotel rooms". He also mentioned that the company was working closely with Four Seasons Hotels and Resorts on the redevelopment, but were also focusing on maintaining a high quality experience for the existing Club members.
Presently Horizons and Coral Beach Club together cover some 52 acres of land area, of which 49 percent is 'developable' land and 51 percent is classified as conservation zones. The developers intend to preserve the Coral Beach and Horizons clubhouses, but renovate the interiors.
The fractional residences will be of traditional Bermudian style having intimate Bermudian cottage colony resort tradition. Developers plan to retain the existing areas of open space, agricultural land and woodland and coastal reserve.
More tennis courts to be added to the existing four, and there are also plans for a tennis and fitness club, spa, kidsĺ club and conference center with ballrooms and a function lawn. There are also plans for squash courts, a yoga lawn, a lap swimming pool and up to four hotel swimming pools with poolside bar and grill.
The new resort will however bring in changes on South Road to have new access points and a pedestrian underpass near the entrance to Coral Beach, at the top of the hill.
Check Bermuda News
for latest updates on what's happening in the island.