Market review and feasibility study: Leeward Marina Village, Turks and Caicos Islands, Caribbean
- Client:
- Johnston International
- Architect: PLC Architects
- Services required:
- Masterplanning,
- Feasibility Studies and Market Research,
- Marina Design
Scheme description
Located at the eastern extremity of Providenciales, the marina site has an exclusive location at the centre of the Leeward Development, a residential scheme based around a series of inter-coastal waterways. Leeward enjoys an outstanding setting and is a destination that appeals to both British and US citizens.
The objective of the client was to establish a clear strategy for the future development of Leeward Marina and the associated mixed waterfront development and also to test their assumptions with regard to the target markets.
Role of Marina Projects
Commissioned to undertake a full market review and feasibility study for the proposed marina and waterfront development at Leeward. The study included a review of the target markets for the introduction of a marina on this developing Island, including research into the potential transient market from vessels on passage between south Florida and the Caribbean — an established superyacht and leisure craft route.
In order to fully assess the potential of the site and to test a broad range of conclusions and findings from previous research and study work, Marina Projects undertook a targeted field study of both the local and wider markets. The detailed study involved up to date research into the world-wide super yacht routes, large boat market trends, expectations of owners and skippers and the potential for utilising the Turks & Caicos Islands as a convenient transient stop over or possibly as a boating destination in its own right. The conclusion of the study refocused the client’s view of the market position which directly influenced the development of the masterplan.
The feasibility study and market report, including business plan data, market positioning, masterplan recommendations and option schemes, was submitted to the client. The client has since appointed architects and re-worked the masterplan encompassing international best practice and standards. Construction work on the $15 million waterfront development and marina scheme is now in progress.
The findings of the study were adopted by the client and provided valuable input to the overall masterplan process and formed the basis of the ongoing Leeward Marina Village Development. Importantly, the financial plans, projections and reports produced for the marina business by Marina Projects assisted the client in the securing of the overall development funding and progression of the scheme.