The Tobago House of Assembly (THA) has received no bids for the purchase of Sanctuary Villas in Black Rock.
In March, the Eco-Industrial Development Company of Tobago (E-IDCOT) invited expressions of interest for the sale of the sprawling but derelict property. Investors were also given options to pursue a lease, public-private partnership, joint venture or special-purpose vehicle arrangement.
Guardian Media sent questions to E-IDCOT about the status of the property, but the company declined to respond.
However, Secretary of Finance Petal-Ann Roberts on Thursday revealed that no offers had been made to purchase the property, which consists of nine villas and private pools.
Roberts said E-IDCOT had received two proposals but declined to reveal the nature of the arrangements, as they are still under consideration.
In 2015, the former People’s National Movement (PNM)-led THA jointly purchased Sanctuary Villas for $24 million and Manta Lodge Hotel and Dive Centre for $7 million. However, both properties were left dormant for several years and fell into a state of disrepair.
In 2020, then Chief Secretary Ancil Dennis decided to renovate the smaller Manta Lodge property in Speyside. The hotel, which reopened in 2024, cost taxpayers $29 million to renovate, while upwards of $60 million is estimated to be required to get Sanctuary Villas back up and running. - Stephon Nicholas
