Bishop’s Court to be developed
By Stacey Russell | Mon, July 05, 2010 - 12:00 AM
THE ANGLICAN CHURCH is looking to develop the former residence of the Anglican Bishop at Bishop’s Court Hill into a commercial project.
This disclosure came from chairman of the Barbados Diocesan Trust, Hartley Richards, who has indicated that the particular plot was “perhaps the most commercially viable property of the ones that we have”.
He could not place the current market value on the tract, saying that “property values change depending on circumstances, so it would be difficult to come out and say that that is worth X dollars”.
Nonetheless, the trustees, who were mandated to manage the Anglican Church’s properties and prudently invest their proceeds, were teeming with expectation of joining with either a private sector partner or Government to develop the property, he said in an interview.
“We are trying to look at a joint venture type project for that property, which could possibly be similar to the British American building going up across the street. Or we can have a condominium-type arrangement, whereby you have office accommodation, as well as housing accommodation,” Richards said.
He pointed out that the diocese was considering subjecting the land to a joint venture development “because we have no funds”.
“We have the land, but someone who would have the funds to develop it could join us with a project, which would see us put in the land. They would build the property and it could either be rented on a long or short term. It is probably more likely to be with a private sector agency or it could be with Government as well.
“It would be property at the high end and I’m not certain whether Government, for instance, would want to get in at the high end. Government tends to go more on the medium side,” Richards stated.
He said a potential partner could contact the Barbados Diocesan Trust with a proposal for a suitable project.
“We would look at the viability of the project and see whether it meets the criteria we have; obviously there are certain things that we could not have go on there.” Richards added.
He said another high-value plot of Anglican land that “could be developed in a similar fashion” was the tract housing the Archbishop’s Office in Henry’s Lane, St Michael.
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