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Cockleshell Bay Marina, St Kitts, signs operating agreement with Camper & Nicholsons Marinas

News from Camper and Nicholsons Marinas at Boot Düsseldorf 2010 - Hall 14 / A02

Cockleshell Bay Marina’s owners, through Toronto based St Michael Development Ltd, have signed a 10 year operating agreement which commenced on 1 September with Camper & Nicholsons Marinas.

The partnership between the two companies covers the development and operation of the 153 berth Cockleshell Bay Marina on the southern coast of the Island, and brings a new level of quality and service to yachting in St Kitts, an island that is known as one of the most tranquil, clean and safe places in the Caribbean.

Work will begin in early January 2010 and the marina is scheduled to open in November 2012. It will be the centrepiece of an exclusive shore side development, and has been designed to cater for yachts up to 70m. There will be a select number of berths offered for sale with the remainder available for seasonal rental or visitors.

The development includes a fabulous Park Hyatt five star hotel, magnificent spa, and world class shopping and dining facilities. Luxury villas, as well as variety of real estate opportunities on the beachfront and surrounding hillsides, will combine to make this a high class and sophisticated destination. The south-eastern peninsula, where Cockleshell Bay is located, is starkly beautiful with barren salt ponds, vervet monkeys and wild deer.

Situated roughly 200 miles south of Puerto Rico, St Kitts benefits from frequent non-stop flights from key airports in America and Canada and is only four hours travel time by direct service from New York. There are also direct flights available from the United Kingdom.

Chris Kanhai, principal of St Michael Development, said, “St. Kitts' topography and culture, not to mention its waters teeming with game fish, make the island a popular place for sailors and yachters and this development will establish St Kitts as one of the Eastern Caribbean’s prime yachting centres.”

He acknowledges that only the best professional services will deliver the right product to customers together with a good return to investors. He comments, “The global reach of the Camper & Nicholsons brand together with its obvious technical and operational expertise confirms our belief that we have identified the right partners to help us achieve just that.”

Camper & Nicholsons CEO, Nick Maris, is delighted to add Cockleshell Bay Marina to the company’s growing network of premium branded marinas. He said, “We are familiar with yacht owners demanding the highest service standards in the marinas they visit, but it is not just about meeting the expectations of yacht owners, it is also about the investors in the modern marina market who expect the same service standards and professionalism they would receive ashore in a top class hotel. With the signing of this new operating agreement we will demonstrate that St Michael Development and C&N are dedicated to delivering that level of excellence.” Visit www.cnmarinas.com for more information on C&N’s marinas.

St. Kitts is a stunningly beautiful island of lush vegetation and pristine rain forests, with beautiful beaches, and is located in the Leeward Islands of the Eastern Caribbean. The population is about 46,000 and comprises a land area of about 65 square miles.

ENDS

Notes to Editors

Press enquiries: Jane Adkins, PR Co-ordinator E/ jane.adkins@cnmarinas.com T/ +44 (0)1935 813114 M/ +44 (0)7960 698 089

About St Michael Development Ltd

St Michael’s Development Ltd. (the ‘Developer’), a limited company located in Nevis and currently owned 100% by Chris Kanhai, a Canadian national. In 1998, Mr. Kanhai negotiated the purchase of the extensive site for a Five Star Resort, Residential real estate, and Marina components for this development.

About Camper & Nicholsons Marinas Camper & Nicholsons is widely recognised to be one of the World’s oldest and most prestigious yachting business names, with origins dating back to 1782 when boat building began at Gosport, in the South of England.

Camper & Nicholsons has specialised in marina and waterfront development for over 40 years and has provided services to clients in more than 25 countries worldwide. Projects range from small marinas through to developments of over 500 hectares.

Camper & Nicholsons Marinas International Ltd is a wholly owned subsidiary of Camper & Nicholsons Marina Investments Limited, listed on the AIM of the London Stock Exchange.

Jan 2010 (CNM027 – St Kitts)

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Release Date: 1st January 2010

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