The South Coast of Barbados is about to get added retail and shopping space with the new Lanterns shopping centre slated for an early 2010 opening. This was revealed to local media recently as the property developer and real estate agency of the new shopping mall disclosed some of the prospective tenants for the new space.
The new shopping centre comes at an interesting time in South Coast development with a number of property developments about to be completed including the Condominiums at Palm Beach, Ocean Two and Sapphire Beach Condominiums. It also comes on the heels of the completion of the South Coast boardwalk which has brought revived activity and traffic on that tourist belt in the island. These new developments could prove to bring traffic to shopping centre.
But what should be even more interesting is the mix of retailers that are expected for the new shopping mall. Though it was not revealed unequivocally who they would it was hinted that prospective tenants will include Haagen Dazs ice-cream, Rituals restaurant and Subway.
Officials from the real estate firm of the property indicated to local press that available space is limited however, as 60 to 70 per cent of the 32 units have already been tenanted, while not wanting to disclose the majority of the names because negotiations are still ongoing.
The property developer of the new mall highlighted that one of the keys for the success of the mall would be having tenants whose business translated into the same image that the mall will be providing.
There was also a call made to retailers who want to raise the bar, the developers are providing them with a facility and an avenue through which to do that.
There are 60 to 70 per cent of the available units that have already been tenanted, but retailers that are interested can contact Terra Caribbean to explore opportunities that may be available in the upcoming space.
To ensure major commitment from the tenants the property developers requiring designs for the space and three year lease agreements options.
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I personally think they could have done a way better job at constructing a better-looking, more modern looking mall(building), for the type of money they said, will take them to build this mall. The interior of the mall looks nice but the outer apperance looks to flat and old fashion, as if it was built back in the 1970’s.