Sprott Bros. Plaza | Commercial Barbados Property for Sale at Realtors

Sprott Bros. Plaza

Commercial
Covered Area: 
19,938 sq. ft.
Land Area: 
5,844 sq. ft.
0 Bedrooms

Sprott Bros. Plaza

$2,960,000 USD
Other Islands
Property Description: 

Commercial Property of Sprotts Plaza, located at Bay street Kingstown SVG. We invite you to view this Prime commercial property for sale in a sought after location of Kingstown. This impressive 3 storey building of modern construction has been a landmark on one of the main streets in Kingstown for 28 years. It was constructed in 1991 and operated for many years as one of the main department stores in St. Vincent. It has now been tastefully converted into a plaza and has operated as such for the past 8 years. The Plaza currently has 19 rental unit spaces with the option for some spaces to be combined to create larger rental units. Presently 16 units are rented with 3 being marketed. The 3 storey building is constructed of structural steel and concrete, with mezzanine office space on the roof and featuring a central staircase with large skylight allowing for natural light to reach all floors.

The building has a glass and metallic Fascia frontage with brick arches over a covered cobblestone sidewalk. The Property sits on 5844 sq. f.t of land, with 19,938 sq. ft. of commercial floor space spread over 3 floors. Other features of this building include:r -Back up water storage tanks on roof. -A room for back-up generator located on roof. -Rental of roof space to Digicel (telecommunications company) for storage of electrical transformers and antennaes. -Enclosed fire-escape staircase with firehoses. This is an ideal Buisness location with it's prominent position on Bay Street, and with a large Private car park directly opposite the property. There is also available on-road parking in-front the property for client loading/unloading. The property is also located adjacent to the Central Police Headquarters to the West and Police Credit Union to the East adding an additional element of security hard to be rivalled.

This property presents an outstanding opportunity to purchase prime real estate in Kingstown. As the property is already an established tenanted Plaza, the Business opportunities are very flexible with respect to a bank; - Use the property as a bank investment solely, continuing to operate it as a Plaza. - Use part of property (1st and 2nd floors) for Banking operations and continue to rent ground floor for added revenue. - Use entire property for banking operations as property size allows for growth of banking facilities.

The property has had a recent valuation on 21/1/2016 by Property masters, with a valuation of $9,800,000EC.

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