Via Bloody Bay Company

Even the real estate market is cashing in on the cryptocurrency craze, with an undeveloped tropical hideaway hitting the market in St Vincent and the Grenadines for 600 bitcoins.

The 13-acre beachside slice of Union Island is among the most expensive items to be sold using bitcoin, which is enjoying a huge surge in value right now: 600 is roughly the equivalent of £5.28m (as of 5 December).

A Caribbean island plot is for sale for 600 bitcoins
Via Bloody Bay Company

At the beginning of the year, one bitcoin was worth £759.45 but it reached a year high of over £8,200 on 29 November 2017, according to The Telegraph.

So what can you expect to get for your cryptobuck? The undeveloped plot of land is in the ominously-named Bloody Bay, and has direct access to the water and sandy white beaches. Plans for a single-family home designed by award-winning London practice, Seth Stein Architects are included in the sale. And the firm has also developed alternative plans if the future owner would prefer to build multiple cabins for their family and friends.

A Caribbean island plot is for sale for 600 bitcoins
CGI of the Union Island holiday home by Seth Stein Architects. Via Bloody Bay Company

Specifics about the unbuilt house are limited, but CGIs show a sandy stone and timber villa with a huge beachfront terrace and oversized windows. Bedrooms inside the island property will feature wooden floors, walls and ceilings and built-in desks and cabinetry.

According to the architect’s website, the practice is developing a masterplan for 50 acres of the Caribbean island, which will include a beach bar with overnight cabins, and individual houses on the hillside overlooking the Caribbean Sea.

A Caribbean island plot is for sale for 600 bitcoins
Via Bloody Bay Company

Union Island is home to 3,000 English-speaking residents, and is a short boat ride from Mustique – the private island favoured by celebrities including Mick Jagger and David Bowie. Other neighbouring islands include Richard Branson’s Necker Island and Canouan, which is home to the Pink Sands Club, a £150m private holiday resort.

A Caribbean island plot is for sale for 600 bitcoins
Beach bar CGI by Seth Stein Architects. Via Bloody Bay Company

If you’ve got cash, tough luck – the property can only be bought with Bitcoin. Interested parties can register with the Bloody Bay Company via email to find out more…

Read next: $15m Caribbean retreat Point House hits the market in the Turks and Caicos Islands
Clifftop WWII naval base hits the market in Scotland
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Commissioning editor at The Spaces.

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