The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

UBS (Bahamas) two-storey annex building on East Bay Street is being marketed for sale at $8 million, Tribune Business confirmed yesterday, although the bank is also still entertaining lease options.

Bahamas Realty chief executive, Larry Roberts, told this newspaper that the option to lease the available space remained, with the Utilities Regulation and Competition Authority (URCA) currently occupying the ground floor.

The 23,544 square feet UBS Annex building sits at the rear of the bank’s corporate office on East Bay Street.

“The whole building is for sale for $8 million. It’s available for someone who wants to lease it or if they want to buy the building. They already have a tenant in there, URCA, occupying the ground floor, if they don’t need the whole building for themselves,” said Mr Roberts.

“We are working with three groups at the moment on the leasing of the available space, and then there is the option an investment group may want to buy it as an investment. Before we lease the space someone might want to buy it and occupy the space.”

Mr Roberts added: “It’s a beautiful building. It’s really one of the nicest buildings on the island. It just need a buyer, a tenant or tenants.”

The building is described as energy efficient to LEED standards, with impact resistant insulated windows and doors, 500 kilowatt full service stand-by generator, CCTV cameras and 162 available parking spaces among its added features.

The BISX-listed Bahamas Property Fund previously expressed interest in acquiring the property, but it was subsequently pulled off the market.