Dome Mall for sale for $40
The Massy Dome in Warrens, one of the Massy Group’s most recognisable properties in Barbados, is up for sale, and the company is seeking $40 million for it.
The Caribbean multinational with headquarters in Trinidad and Tobago stated in its 2022 annual report that it was divesting itself of underperforming assets and non-core businesses as part of its future plan.
The majority of the underperformers had been given up, according to the chairman of Massy Robert Bermudez, allowing the company to seek fresh chances through acquisitions.
As the business lowered its debt to equity to 25%, Bermudez said that the aggressive divestiture process was well under way and that all that was left of the underperformers to be sold were some “non-core real estate assets in Barbados.”
As a consequence, the business reported having US$176 million available to support additional acquisitions and investments.
The Massy Dome is located on 5.5 acres of property in the swiftly developing Warrens business sector and has an almost entirely occupied mall as well as the main branch of CIBC FirstCaribbean International Bank. The structure is 94 000 square feet large.
When Massy triumphed against Trinidad business competitor ANSA McAL for control of Barbados Shipping & Trading, the nation’s most potent private sector company at the time, in 2008, it also purchased additional large real estate in Barbados.
