Scout’s Place hotel, bar and restaurant in Windwardside, Saba.
SABA--The Caribbean Netherlands Pension Fund Foundation PCN has completed the purchase of Scout’s Place in Saba. With this purchase, PCN realised its second investment in Saba within a few months. The acquisition includes the hotel, including the bar and restaurant, as well as an adjacent plot in Windwardside.
Scout’s Place is considered a unique establishment in Saba, with a long and rich history, and is well-known and loved by both locals and tourists, said PCN board chairman Harald Linkels, who said in a statement that he is “very enthusiastic” about the purchase.
“PCN has previously stated that it wants to invest more in the three BES [Bonaire, St. Eustatius and Saba – ED.] islands. This second purchase in Saba fits in perfectly with the local investment policy, as determined by the fund. In addition to an intended positive return for the fund, it is of great importance to PCN that with the purchase and planned renovation, an economic and social contribution to the community of Saba is realised,” Linkels said.
He also thanked Scout’s Place owner Barbara Tooten for her efforts in the realisation of the transaction, as well as others who made an important contribution to it.
The investments are made via Caribbean Netherlands Participation Company PMCN, a 100-per-cent subsidiary of PCN. PMCN director Walter Blijleven made the preparations and conducted the negotiations for the purchase of the hotel.
“Due to unfortunate circumstances, Scout’s Place has lost some of its appeal in recent years. Our commitment is aimed not only at restoring Scout’s Place to its former glory through refurbishment and modernisation, but also by expanding it over time. This will have a significant impact on Saba’s economy. In addition to securing employment for now and in the future, we expect that Scout’s Place will once again succeed in attracting tourists to Saba.”
Now that the purchase is a fact, PMCN wants to start the renovations in the short term, striving for optimal involvement of local parties. Discussions are held with various parties for future operation.
“The completion of this purchase, in the midst of the COVID-19 era, indicates PCN’s determination to make a vital contribution to the future of Bonaire, St. Eustatius and Saba and our confidence in the future of these three beautiful islands,” said Linkels.
https://www.thedailyherald.sx/islands/pcn-completes-purchase-of-scout-s-place-in-saba
