Eastern NP seeing resurgence in commercial activity
The eastern district of New Providence is seeing a resurgence in commercial activity, Chief Executive Officer of Bahamas Realty Donnie Martinborough said yesterday, adding that his company is engaged in the sale of Bydand House, where its offices are housed.
Martinborough in a press release pointed to the development of a new restaurant at the Nassau Harbour Club, the ongoing renovation of the Waterloo nightclub, the transformation of a 100-year-old home into the Wild Thyme restaurant, and Harbour Bay’s increasing popularity as a destination shopping plaza, as evidence that the eastern district of New Providence is experiencing a boom.
“We have never lost faith in the strength of the east,” said Martinborough.
“And with all of the recent activity in the area, we recognize this as a great opportunity for investors or businesses looking to expand in a growing market.
“In the last few years and in particular, the last few months we have seen more activity and commercial interest in the eastern district, and the Montagu area in particular, than we had seen for quite a while.
“Even we at Bahamas Realty are caught up in the exciting changes, with our own office building on the market to sell while Montagu is enjoying a resurgence in commercial development.”
Martinborough said in the release that his company is confident it will find the right buyer for Bydand House.
“As both tenants of the building, as well as being the leading commercial real estate firm on the island, we are in a unique position to broker the sale of Bydand House,” he said.
The release explains that Bahamas Realty’s commercial division, NAI Bahamas Realty Commercial, was selected to represent the sale of the “iconic” East Bay Street office complex.
“The property, located at 23 East Bay Street, known as Bydand House, is a functional office complex in a high-traffic, secure location,” the release states.
“The prospect represents an attractive investment opportunity with consistent occupancy rates and good tenants.
“The 1.46-acre property is situated in an established business district in the eastern district of New Providence and includes 6,484 square feet of office space in the main building, with two additional income producing annex buildings and more than ample room for building expansion.”
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