US Dept. of State lists West Bay Street property

Acreage on West Bay Street near Saunders Beach, owned by the United States Department of State for almost 50 years, is now listed as a commercial tourism opportunity and is on the market for $3.1 million, according to a statement on the sale from Engel & Volkers Bahamas, which represents the property.

The property is recognized only by a 560-foot-long, eight-foot-high white wall for those who have never had the privilege of stepping foot inside the heavily secured area, which was used predominantly as a residence.

“The property has served a number of purposes for the Department of State’s operations in The Bahamas, and the decision to sell the property aligns with plans coordinated between the United States Embassy in Nassau and the Bureau of Overseas Buildings Operations (OBO),” the statement pointed out.

“Local company Engel & Volkers Bahamas, in concert with CBRE Inc., has been selected to represent the sale of the property.”

Engel & Volkers Bahamas’ Listing Advisor Silvina Andrews explained in the statement that the property has been “underutilized” as a residential facility and is zoned for commercial use.

“The property is underutilized in its current residential use as it is zoned commercial tourist (C2) and permits commercial, office, flex and mixed uses,” said Andrews.

“The size and location of the property lends itself to a diverse list of commercial uses. The proximity to the port, Downtown Nassau and Baha Mar just to the west places it in a very central location.”

The statement added: “The West Bay Street property is a significant commercial site, representing a rare opportunity to develop a property of this size so close to Downtown Nassau. In total, it comprises 3.6 acres and also has a protected waterway along the entire length of its northern coastline.

“Currently, the property has two residences built in 1975 and 1989, as well as a gym, pool, basketball court, cottage, guardhouses, two gated entrances and a number of smaller buildings.”

The Department of State is currently constructing a new $318 million facility on Shirley Street that is expected to be completed by 2023 and has been hailed as a central part of Downtown Nassau’s revitalization.

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source https://thenassauguardian.com/us-dept-of-state-lists-west-bay-street-property/