Jim Gillette is best remembered for his days as the frontman for the ’80s hair band Nitro. Now, this rock star-turned-real estate entrepreneur has turned to developing real estate in the Turks and Caicos Islands. And his latest project, The North Caicos Yacht Club, will be showcasing some of the most luxurious properties in the area when they are up for auction next week.
The North Caicos Yacht Club is a residential/tourist commercial marina development composed of 97 residential lots and 10 tourist/commercial lots on 154 acres of land located just across the breezeway from the world renowned spa resort of Parrot Cay. The development features a continuous state-of-the-art vinyl sea wall, docks on each property, interconnecting canals, underground utilities, and a European-style bridge finished in coral stone.
Some of these lots will be offered through a luxury real estate auction to be held on July 28. Four villas and thirteen beach and canal lots will be up for auction, while two of the beach villas and five beach canal lots will be sold at Absolute Auction. The auction will be facilitated by U.S. luxury auction boutique firm Albert Burney, Inc. and Turks & Caicos real estate firms Avalon Partners, Ltd. and Prestigious Properties. Owner financing will be available on all auction properties. Gillette and his partners who are responsible for developing The North Caicos Yacht Club have invested close to $30 million in project infrastructure.
“This is my home. I live here full time with my two young sons,” Gillette says. ”I am completely invested in the success of The North Caicos Yacht Club because it is my home.”