If you are interested in commercial property in Barbados, you will find that there are a variety of commercial land options to purchase or rent as well as established commercial property such as office space.
Perhaps you are interested in land for agricultural use; again this is available for purchase or rent. Land for agricultural use is designated as such and you will need to check before your sale or lease agreement goes through to confirm the property is designated for such use.
In this section, we will look at commercial land or property that is available for sale or is available to lease. Perhaps you are interested in investing in Barbados land to resell or property on the island to lease out on a commercial basis. If this is the case then please read the article on Barbados real estate investment opportunities.
Here, in the Barbados Commercial Real Estate section of our site, you will find details on the real estate laws pertaining to commercial property and details on the change of use procedures, which must be adhered to for commercial use.
Maybe you are thinking of opening a bar or restaurant on the island, therefore it would make sense for you to look at properties which are already designated to be used for this type of commercial activity.
It can be very difficult to rent or buy a residential property in Barbados with the intent of converting it to commercial use. In this instance, you would have to apply to the local authority and town and country planning commissions for a change of designated use, this can also involve obtaining the original plans for the building, which may not be available.
Also, by choosing this method there is no guarantee that permission for the change of use will be granted by the authorities in Barbados, so your safest bet is to look for property or land that is already operating in the field of your desired business.
There are also some properties that come with a covenant, meaning there are stipulations as to what the property can be used for, these covenants can often restrict commercial use.
Therefore, it is important to let your real estate agent or broker know your purchase or rental intentions of the property or land and to also fully brief your attorney at law to check for any restrictions on your property of choice.
The market value of commercial land or property in Barbados is usually higher than the going rate in the residential real estate market, so in this section we give an approximate guide on the current values.
We will also offer you a comprehensive guide of the real estate agents and brokers who specialize in commercial land and property for purchase or rental in Barbados.