With half of Bridgetown’s commercial buildings empty, the ongoing exodus of business activity is driving a push for the capital to be transformed into a combination of business and residential accommodation.
Chief executive officer of real estate company Terra Caribbean, Senator Andrew Mallalieu, said yesterday Terra had made some recommendations regarding some alternative uses of Bridgetown, and Government had already indicated a move in this direction.
Speaking during the launch of terrared.com, the digital site for information formerly carried in the company’s influential real estate market publication The Red Book Barbados,
Mallalieu said the level of vacant spaces was currently about 50 per cent, while a Terra survey of a random sample of six buildings, some on Broad Street and others off that main street, had shown the vacancy of those buildings at 70 per cent. (GC)
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