Barbadas real estate agency is selling the land it owns for £2.1m, with a reported profit of up to £400,000.
The buyer, which is the former owner of the Barbadovas mansion, bought the land for £3.2 million at the start of the year.
It was originally set aside for development but is now being marketed by a group of local families.
The property is located in the hills of Barbadocas, in the centre of the country, near the capital.
Rental rates on the property ranged from $1,700 to $1.3 million per week, with rents ranging from $700 to £2,000 per week.
It has three bedrooms, four bathrooms, three large bedrooms and two small bedrooms.
The estate agency had planned to redevelop the site for a commercial project but the developers are currently working on the redevelopment.
The land was once home to a private residence and has been used as a residence by the former owners.
Barbados has a population of around 5,000, with the capital city of Barra and the neighbouring city of Marabou having around 2,000 residents.
It is also home to the US embassy.
The home is owned by the company B&R Real Estate.