By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

DEMOLITION of the Port Lucaya Resort started yesterday, clearing the way for a major real estate development.

The 80-room resort in Freeport closed several years ago and has significantly deteriorated. The property catered mainly to yachtsmen and boaters at the Port Lucaya Marina.

UK investor Peter Hunt recently acquired the Port Lucaya Marketplace and the adjoining resort property for $5.5m from the Port Group Ltd, an affiliate of the Grand Bahama Port Authority. Mr Hunt plans to make significant upgrades at the Port Lucaya Marketplace, which is a popular retail location and tourist attraction. It features 40 stores and boutiques, 14 restaurants, six bars, and three nightbars/lounges.