The Tribune

By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net

A Bahamian credit union yesterday said it was hoping its $15 million Abaco shopping complex will be fully leased within “a couple of months”, as all 11 smaller units in the complex have been “completely taken up”.

Anthony Rolle, property manager for the Teachers and Salaried Workers Co-operative Credit Union (TSWCCUL), told Tribune Business that while perspective tenants were lined up and ready to move in, the credit union was waiting on the go-ahead from its contractor ,Woslee Construction.

“We are waiting for some things to fall into place. The contractor is winding down. Some tenants are reconfiguring their space. Tenants have been waiting to move, but until the contractor would have given us the go-ahead we couldn’t allow them to do anything until there was a final inspection and the contractor got the occupancy certificate,” said Mr Rolle.

“Things are moving fairly OK. If all goes well we could have the entire complex rented out in a couple of months. On paper I have more than enough requests; I’ve got some 40-plus potential tenants lined up.

“The problem is that the majority of them are looking for small spaces. All of the small spaces are completely gone. That leaves us to decide whether we are going to reconfigure the big spaces in terms of breaking them up into smaller shops and office spaces,” Mr Rolle added.

“That’s not something we are really minded to do. We really don’t want too many of the same things in the complex. We’re also looking for people who we believe can sustain their business.”

The Central Pines Shopping Centre and Business Complex, the third shopping plaza to be developed by the credit union, is expected to provide significant monthly revenue for the credit union. Mr Rolle said the 56,000 square foot of rental space, across 14 units, would pay for itself over time.

“With all of the smaller units that have been taken up we have already collected the security deposits and they would have already paid their first and last month’s rent,” he added.

“There’s only one big unit left downstairs and that was supposed to be for a fast food chain, but that’s pending. Upstairs, in what we called Building D, are two big spaces. One is already designated for a medical clinic and the other big unit could be reconfigured to accommodate more office space if need be, though, we are not really minded to do that.”