LOWER ESTATE in St Michael could soon become the next industrial hub in Barbados, with a portion of land currently earmarked for sale and commercial subdivision.
Managing director Walter Short of SP Musson Son & Company Limited, one of the agents for the land, said that the area had signicant commercial potential.
While he could not give specifics on the immediate plans for the district, Short said that Lower Estate seemed “to be the next big area developing”. He said it was an ideal location as it was “not far from Bridgetown and it appears conducive to development”.
Recently, BARBADOS BUSINESS AUTHORITY visited the area where workmen from C.O. Williams Construction Limited were carrying out rehabilitative work on the roadways and a portion of land to the south of Pinnacle Feeds Limited.
Investment director Roger Cave of Fortress Caribbean Mutual Fund, who is also one of the key agents for the land, said “the land has been sitting there for many years doing nothing” so his company decided to “subdivide it into commercial properties”.
“We came into possession of the piece of land because it was part of a package that came with another deal,” Cave disclosed.
Some businesses already in the area said they would welcome any further development, noting that the area was easily accessible and conducive to expansion.
Lot prices range from $830 000 up to $2.2 million for the larger spots and lot sizes range from 25 000 to 63 000 square feet in size. (MM)
