The victim has been named by local news reports and friends as marina owner and manager Robert Hathaway. It is understood he was found by a neighbour at around midday on Sunday. A police spokesman in Gros Islet said investigators were awaiting the outcome of a post-mortem examination.
He said: “The body of a British national was found where he lived in Grand Riviere, Gros Islet.
“We are treating his death as a homicide.”
He said the post-mortem was due to be carried out on Monday afternoon.
He said: “We will be getting in touch with his family in the UK.
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“We don’t yet know if he has any next of kin on St Lucia.”
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Keats Compton, president of the Marine Industries Association of Saint Lucia and a close friend of Mr Hathaway, said: “I heard the news late yesterday. It’s really horrific.
“Apart from anything else, Bob was a pal of mine. He was on the executive committee of the (Marine Industries) Association and he was an integral part of it.
“I’m also concerned because the yachting fraternity is very close-knit, and the fact that this kind of thing can happen – if it’s not reported properly it can do the industry quite a lot of damage.”
Mr Compton said he had known the victim for more than 10 years and he would be following the police investigation closely.
Asked about a possible motive for the murder, he said: “It was a big shock to me but it’s a bit early to make any speculation.”
Mr Hathaway, 66, founded the Marigot Sunshine marina catering for smaller sailing yachts and superyachts.
His business website says he studied engineering at the University of Cambridge before going on to a career in local government.
At 37, he spent a sabbatical year cruising the Mediterranean, prompting him to change careers and become operations director of a yacht building and repair company in Southampton.
It says he sailed to St Lucia in 2001 and bought land in Marigot Bay, going on to found his business five years later.
A CV posted on the site gave his marital status as divorced and says he was vice-president of the Caribbean Marine Association.
His Facebook page says he was originally from the village of Codford St Peter in Wiltshire.
A spokeswoman for the Foreign and Commonwealth Office said: “Our staff are supporting the family of a British man following his death in St Lucia, and are in contact with the St Lucian police.”