Almost two years ago – mid 2007, it became apparent that we were running out of space at our current offices in Turks & Caicos. With 8 staff , computers, equipment AND a showroom all cramed into 1,000 sq ft – it was time to start looking for options.
There was a building boom going on in TCI – new developments were popping up everywhere – should be easy right?
Grab a coffee or cocktail – this is a long post!
Well it should have been easy, but it soon became apparent that we couldn’t find the right kind of fit for our business. As photographers and cinematographers working with all the top resorts, hotels and companies in Turks & Caicos – we don’t rely on walk by traffic. Our business is often booked months in advance (weddings) and a lot of it is done over the telephone and via email. If we do need to meet with guests or show them samples and a portfolio, its easy to drive over and meet them in the lobby. So paying top rate for prime grace bay location just didn’t make sense, especially once you add on management fees as well.
Locations and other options outside of gracebay were just too far away – ok more than 10 minutes !!!! – which on Provo is HUGE!! Live here long enough and you’ll understand.
It was early 2008 that things then started to fall into place. Talking one day with our building neighbor Construction Advisory Services (CASL) it was clear that we could build ourselves for the same amount as buying one of those fancy units right in the middle of grace bay…interesting….then by chance (or fate??) building lots about a mile from grace bay and on my regular drive home from work each day came onto the market. Real Esate signs popped up, as did my interest.
So a call into Simon Padgett of REMAX, a few calls, some usual back and forth, negotiations, a few surprises (another story to be told) and we were now the proud owners a lot of land right on the main highway (great access and visibility), with views out over grace bay towards the ocean and still only a mile from the main resorts – hurrah!!
Now to start talking to builders, get plans made build this thing!!!! NOT SO FAST….
We started the design process, got an architect (OBM Ltd) and had inital drawings made. Then started to talk with builders to make sure we really could afford this thing…and it appeared that we could not….prices of everything on the island in construction were at an all time HIGH. Oil was at $150 a barrel and aiming higher, china was booming and taking all the surplus steel driving the prices of rebar up to an all time high, concrete block was almost like golddust – supplies were simply booked – yes they could build it – but not on our budget……
so ……we asked around…same story…asked again…. so called the staff in told then the project was OFF…postponed until we had saved more money…started to look at more rental space…sucks…
SIX MONTHS LATER
Then (sorry I told you this was a long post) – one of my team – Anita happened to have a new boyfriend (Tim) who worked for CASL next door – chatting over more drinks, they still felt it was possible to build cheaper than I had been told….
They were right…it was now Sept/Oct 2008 and the world was a very different place…..leman’s, bear sterns, AIG – it was all happening – oil was crashing, construction had died overnight as did new projects, builders suddenly were now calling me – was my project still on??
So Tim and I worked the numbers, put a plan together and started talking to some builders…the numbers looked better…much better.
Then a fateful meeting with one of the top builders in TCI – Projetech -Steve was interest in our project and wanted to help. They came with a great team, an amazing reputation for quality all at a price we could afford….it was going to be a “design and build”……turnkey – get it done kinda thing…..YES!
how could I say no ……let’s build a studio !!!
An amazing year 2008 – ups, downs and timings beyond belief….karma kicked butt !!! yah hoo!!!
Great Blog Andy! I cant wait to see the finished product!!