Island Luck eyes HQ at Montagu Hotel site

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Island Luck web shop chain is “contemplating” whether to construct a corporate headquarters for its expanding group on the site of the former Montagu Beach Hotel, Tribune Business can reveal.

Dirk Simmons, chief financial officer for Island Luck and Playtech Systems, which is headed by Sebas Bastian, confirmed that it was mulling possibilities for the site bordered by Higgs & Johnson and the Chinese embassy.

“That is something that is being contemplated,” Mr Simmons responded, when contacted by Tribune Business, after this newspaper was tipped to Island Luck’s plans.

He did not confirm, though, whether Island Luck already owned the site or was in the process of acquiring it, saying: “I’ll have to check the records.” Although stating that he would call Tribune Business back, no response was received prior to press time last night.

Several sources, speaking on condition of anonymity, suggested that Island Luck had already acquired the property, noting that one of its billboard advertisements had been located there.

The site is the last remaining piece of the historic Montagu Beach Hotel property, which was demolished in 1993.

The rest of the location is now home to corporate office buildings which, apart from Higgs & Johnson, are also home to the likes of the KPMG accounting firm.

The property now eyed for development by the Island Luck group has been overgrown and derelict for more than two decades, and its redevelopment would likely be welcomed by neighbours.

A corporate head office would fit in well with other real estate in the area, which includes the head office of Family Guardian, the BISX-listed insurer, and several realty firms such as Morley Realty and Coldwell Banker Lightbourn Realty.

It is also a prime location, sitting at the junction of Eastern and Village Roads, plus Shirley Street, with ample room for parking lots and office space.

The corporate headquarters plan is also another indication of the continuing wealth of web shop operators, especially Island Luck, which recently expanded by acquiring a majority 65 per cent equity stake in rival, Bahama Dreams.

Mr Bastian and Island Luck have also expanded into numerous other sectors of the Bahamian economy, including construction, property development and management (Brickell Management Group), and now into investment banking, securities and insurance.

Investar Securities, a newly-created broker/dealer and investment house, lists Mr Bastian as a director, while Paul Major, head of Brickell Management group, also sits on Investar’s Board as vice-president and secretary.

Investar’s website lists Hillary Deveaux, the former Securities Commission executive director who is now a consultant at the Ministry of Financial Services, as chairman.

Other directors include Scott Godet, principal of Scottdale Bedding and National Fence Company, who is a major landlord to the Government and heads the Post Office public-private partnership at the Independence Drive Shopping Centre; Jane Siebels, principal of Green Cay Private Client; and attorney Lowell Mortimer.

Management has been left to Investar’s president and managing director, Kevin Burrows, the former senior vice-president at CFAL.

Another group entity is understood to be BMG Insurance Agents and Brokers, which shares the same initials as Brickell Management Group, and is chaired by Mr Major, who is also head of the Bahamas National Festival Commission (Junkanoo Carnival).

BMG Insurance Agents and Brokers’ website lists Keith Major, the former Imperial Life insurance executive, as its managing director.

Brickell Management Group and BMG Insurance Agents and Brokers share the same address at 601 East Bay Street, while Investar Securities is based at 443 East Bay Street on property owned by Bethell Estates.

With Island Luck’s head office based at Collins Avenue, the attraction of bringing all these connected group entities together on one site will likely be a key consideration in plans for the former Montagu Beach Hotel site.

Comments

DDK says...

That would be such a crying shame. Probably why they want it. What a Bahamian disgrace.

Posted 14 March 2017, 1:30 p.m. Suggest removal

Islandgirl says...

Congratulations mr christie. Rather than creating a national lottery where the proceeds would have benefited the entire country (assuming the funds did not go the way of road traffic and other money), you legalized a long illegal industry and did not first confiscate the funds that were previously made. This has led to the massive enrichment of a few individuals while introducing the disease of gambling that is adding to poverty in this country. You are robbing the physicians and laboratories and pharmacies of entrepreneurship and the opportunity of reaping the rewards of hard earned and time consuming degrees, literally trying to give away their skills, yet turn around and bless this mess. You have no conscience, no creed, and there is no longer any doubt. You need to go. The pirates were never expelled. They continue to thrive in this country.

Posted 14 March 2017, 2:24 p.m. Suggest removal

Reality_Check says...

This comment was removed by the site staff for violation of the usage agreement.

Posted 14 March 2017, 4:38 p.m.

Well_mudda_take_sic says...

Yes, yes! But notice how you do not hear either the Dimwitted Doc (Minnis) or the inept two-faced lawyer (McCartney) stating in emphatic terms that they would repeal in its entirety the legislation passed by Crooked Christie's PLP government in an effort to 'legalize' the corrupt racketeering activities of the numbers bosses.

Posted 14 March 2017, 4:57 p.m. Suggest removal

DDK says...

Many of us have noticed and wish to know why! URGENTLY!!!

Posted 15 March 2017, 1:41 p.m. Suggest removal

Porcupine says...

Islandgirl,
Now if only we repeat what you said here, over and over until the Bahamian people understood what has happened. Once they understand how our country has been screwed by christie and others they will then certainly vote for...........
Islandgirl, you are 100% right in your observations.
It is the Bahamian people I am losing faith in for continuing to support these criminal "leaders:.

Posted 15 March 2017, 5:53 a.m. Suggest removal

DDK says...

Tell 'em Sister!

Posted 15 March 2017, 1:39 p.m. Suggest removal

Gotoutintime says...

Where is Sebas going to build his Bank??

Posted 14 March 2017, 2:56 p.m. Suggest removal

Sickened says...

Island Luck needs to build their headquarters in a marshy swamp that will slowly suck it in and remove it from sight forever.

Posted 14 March 2017, 3:03 p.m. Suggest removal

John says...

When it was revealed, or alleged that Perry is on the Board of Directors of the Playtech company which is the parent company of Island Luck that's when the man lost his cool and gave y'all the middle finger.

Posted 14 March 2017, 5:05 p.m. Suggest removal

sheeprunner12 says...

Yep ........... who really owns these webshop companies???????? ....... the 2017 election campaign financing trail will reveal this in due time

Posted 15 March 2017, 6 a.m. Suggest removal

sheeprunner12 says...

Interesting choice of site for Island Luck HQ ......... The Bootleggers' Bucket of Blood

Posted 15 March 2017, 5:58 a.m. Suggest removal

truetruebahamian says...

When I found that a portion of a building that I manage was sublet to island luck it was beyond belief that either island luck or the tenant who did the illegal subleasing would not think to contact the owners or manager of the property to verify the acceptability of this arrangement. That is the way they appear to think and operate. I have no patience for that type of activity and lack of respect for laws of tenancy and respect for the owner. They were both summarily evicted. The undesirable element that would hang around and litter the area, bother other tenants and the customers of those other tenants immediately moved on elsewhere.

Posted 15 March 2017, 8:56 a.m. Suggest removal

ohdrap4 says...

one time we had minor medical emergency after 5pm and had to go to a doctor's office adjacent to a webshop in a shopping center.

the doctor's office was packed, and some ahead of us had more serious issues to deal with, so we had to wait several hours.

while we observed the clientele in and out of the webshop, we were scared having to leave there after 10 pm.

the doctor's office does keep a security guard by its entrance.

Posted 15 March 2017, 1:19 p.m. Suggest removal

Islandboy242242 says...

I'm not the biggest fan of Island Luck and the number's peeps but there isn't anything Historic left on this location, if someone wanted to preserve a small piece of the hotel it could have been done before implosion. Same as building The Pointe on an old Fort site, mind you even that was probably destroyed after it was filled in etc over the past 100+ years. Just fill it in and cover it with concrete & tar that seems to be the name of the game nowadays.

Posted 15 March 2017, 9:37 a.m. Suggest removal

TalRussell says...

Comrades! How can it possibly escape you that here we have an ambitious young native man's, who started off delivering barefooted the Tribune to the homes Montagu's wealthy residents is about to change the "once grand" big pink Montagu Beach Hotel, over to The Free Town Financial Complex.
Do I have furnish you with pictures of Montagu Beach's past history to further illustrate my point? I didn't think I'd have to.
My Dear Comrades, these are the kinds native man's makes good types stories that can win not only a single constituency's House seat, but a majority government.

Posted 15 March 2017, 1:29 p.m. Suggest removal

Gotoutintime says...

Tal--Are you pushing Sebas for PM??

Posted 15 March 2017, 2:13 p.m. Suggest removal

truetruebahamian says...

I have no respect sympathy or support for these numbers villains. They have no honour.

Posted 16 March 2017, 8:26 a.m. Suggest removal

DDK says...

I was and am rather surprised to see the continued advertisement of a certain "games" house on the front page of this paper. Would have thought that was a bit out of keeping with The Tribune's usually high standards.

Posted 16 March 2017, 4:03 p.m. Suggest removal

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