Mr. William Tacon, the receiver of the Temenos project, and Mr. Adam Aaron, the Chief Executive of Cap Juluca, have announced that an agreement has been reached whereby the Temenos golf course will continue to be run by Cap Juluca after the expiry of the previous agreement on 30 June 2010.

Partial view of the Temenos Golf Course

The course will remain open for play during the summer months, even though that is traditionally a quiet time for the tourism industry in Anguilla. Mr. Tacon, of Zolfo Cooper in the British Virgin Islands, said, "This is a major benefit for Anguilla. My team and advisers have work closely with Cap Juluca's to achieve this positive result. We have worked in conjunction with the Government and have listened to their views. The golf course will assist us as we identify potential purchasers for the entire project, a process which is continuing according to plan". He added that Cap Juluca has done an excellent job in maintaining the course through the peak holiday season and that the bank syndicate has made a significant financial commitment to achieving this result.

Mr. Aaron said, "The Anguilla tourism industry can market itself with confidence as a great destination with a unique golfing experience. The market is still challenging but this provides a well deserved boost".

The Government of Anguilla was also very pleased with the decision to keep the course open. Mr. Haydn Hughes, Parliamentary Secretary, Tourism, who, with his colleagues, has worked tirelessly on this matter, said, "The Government of Anguilla is delighted that the future of this important national asset has been secured in conjunction with the receiver and Cap Juluca. This is another significant step in the development of our tourism industry and has demonstrated that Anguilla will continue to diversify its tourism product and offer world class golfing".

Smiths Gore and CB Richard Ellis, the brokers retained by the receiver for the sale of the project, will be calling for offers to be made by 24 June. Dominic Murray of Smiths Gore confirmed that the golf course enhances the sale prospect for the development. He noted, "We are pleased with the interest in the project to date, but much hard work is left to do in bringing a suitable developer to the table who can take on the task of completing Temenos". He also noted that the Government of Anguilla will play a major role in any successful transfer of ownership to a new developer and there is steady progress on the matter which should result in an agreement that will benefit all parties: government, lending syndicate and the people of Anguilla.

For further details contact:
William Tacon - + 1 284 494 9600

Adam Aron - +1 264 497 6666

Dominic Murray - +1 284 494 2446
- Press Release

| Printer-friendly page | Send this article to a friend |

World News