The Tribune

Bahamas Realty’s commercial division was yesterday said to be “in a unique position” to facilitate the sale of an East Bay Street office complex in which it is a tenant.

NAI Bahamas Realty Commercial confirmed it has been selected to handle the sale of 23 East Bay Street, known as Bydand House, amid a general resurgence of commercial development in the Montagu area.

“In the last few years and, in particular, the last few months we have seen more activity and commercial interest in the eastern district, and the Montagu area in particular, than we had seen for quite a while,” said Bahamas Realty chief executive Donnie Martinborough.

The realtor has had a presence in the historic property for more than 40 years, and he added: “Even we at Bahamas Realty are caught up in the exciting changes with our own office building on the market to sell while Montagu is enjoying a resurgence in commercial development.

“As both tenants of the building, as well as being the leading commercial real estate firm on the island, we are in a unique position to broker the sale of Bydand House. We are confident that we will find the right buyer.”

Bydand House is a functional office complex in a high-traffic, secure location. Its consistent occupancy rates and quality tenants are said to make it an attractive investment opportunity.

The 1.46 acre site includes 6,484 square feet of office space in the main building, with two additional income-producing annex buildings and room for expansion.

Nearby developments include the transformation of a 100-plus year-old home into the Wild Thyme restaurant. The Harbour Bay Shopping Centre has become a destination shopping plaza, while the former UBS building is now home to the Securities Commission of The Bahamas, the Compliance Commission and the Data Commissioner .

A new restaurant at the Nassau Harbour Club, which has been under construction for more than two years, is expected to open soon, while renovations are also underway at the currently-closed Waterloo nightclub on East Bay Street.

“We have never lost faith in the strength of the east,” said Mr Martinborough. “And with all of the recent activity in the area we recognise this as a great opportunity for investors or businesses looking to expand in a growing market.”