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ICE PROPERTIES-COMMERCIAL BUILDING - for sale in Barbados for $6,900,000

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Property Details

 

The owners are interested in a sale of the company that

 owns the property as opposed to a sale of the assets and

are asking US $ 3.45 Million less the outstanding  debt to

 be paid through a capital restructuring.  The company

owns no other assets.

1.PRICE - US$ 3.45 million LESS: Outstanding Debt

2. ROI  -   Call for details

3. LAND -  53,200 sq ft of Prime commercial land

4. BUILDINGS -  Four buildings of 14,470 sq ft (Fully tenanted)

5. PARKING -  Adequate parking for commercial tenants.

Call Mike Babb at 425 9934 for further details.

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6. MAJOR CONDO DEVELOPMENT NEARBY - There is construction of a major condominium development within 100 yards, the value  should be further enhanced once that development is completed.

7. ALTERNATIVE BEST USE DEVELOPMENT OPTIONS - Due to the  enviable corner site and main front street location the site lends itself alternative best use development options, including the

a.       CONDOMINIUMS – There are condominiums under construction across the main roadb.       HOTEL – There are the established hotels of Amaryllis, Savannah and Coconut Court within walking distance.c.        RETAIL, BROCERY and BANKING SERVICES - There is clearly a need to compliment this activity with retail, grocery and banking services as the closest such facilities is Skyway Plaza, approximately a mile further east along the main road. Developers could consider demolition of all structures to enable the construction of a multipurpose business complex, with a bank tenant and retail anchor for day traffic and a variety or restaurants forevening traffic.A well designed TWO (2) STOREY COMPLEX could host office space on an upper floor and retail on the main level. The site has sufficient PARKING and ACCESS roads that border the property on  three (3) sides. Obtaining planning permission and mobilizing such a development in Barbados normally takes a few years and as the property is fully tenanted, there will be CASH FLOW to FINANCE some of the SOFT COSTS incurred  during the initial period.

                                                           
AddressHastings
ParishChrist Church
CountryBarbados
Neighborhood:South Coast
Sale Price (in BDS $) $6,900,000
Pool TypeNo Pool
Value Added Tax (VAT)Yes

Plot and Build Dimensions

                   
Square Feet14,470
Lot Size53200

Features

                   
Home FeaturesSecurity System
Community FeaturesCourtyard

Rental Rates

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