Calypso & Walker Arcade Buildings #9119

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walker arcade

calypso building THE

45 /47 FRONT STREET | CITY OF HAMILTON |

THE

12 REID STREET | CITY OF HAMILTON |

Agent: BRIAN MADEIROS Atlantic House | 11 Par-la-Ville Road | Hamilton HM HX | Bermuda 441-334-9315 | bmadeiros@brcl.bm | www.coldwellbankerbermuda.com

APPRAISALS | LAND SURVEY | PROPERTY MANAGEMENT | REFERRALS | SALES | RENTALS | VACATION HOME SERVICES Each office is independently owned and operated. Coldwell Banker Bermuda Realty is a trade name of Bermuda Realty Company Limited.

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COLDWELL BANKER BERMUDA

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calypso building THE

walker arcade THE

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he City of Hamilton was given its name by the House of Assembly in 1790 and the lots which the Walker Arcade property was built on were purchased in the early 1800’s. The property was initially designed to accommodate the operational requirements of B.W. Walker & Co, trading as importers and exporters. As the city grew during the next 100 years, the design and use of commercial property evolved to accommodate the changing times and in 1932 the owners invested significant capital to refurbish and join the existing buildings in order to create the well know arcade which connects Reid and Front Streets. The new development created 24 shops, 3 apartments and 14 warehouses. In 1994 the Walker Arcade was once again redecorated and modernized, creating a total of 31 rental units in the building. The distinctive property adjacent to the Walker Arcade overlooking Front Street and occupied by Calypso, was constructed in 1897 by Thomas Miles in order to house his grocery store. The owners of these two properties over several generations recognized that in order to remain relevant in the commercial market place, redevelopment was imperative in the life cycle of commercial real estate in the city.

The opportunity to acquire these city lots which are available for the first time since the early 1800’s will provide a new owner with a significant rental income or an opportunity to redevelop the property with a view to providing the city with a new and dynamic development which can be designed to reflect the changing needs of our local and international business stakeholders and our broader community.

Brian Madeiros Listing Agent

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BERMUDA’S FULL SERVICE AGENCY

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WO of the cities

most recognized commercial properties, The Walker Arcade and The Calypso Building are for sale.

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COLDWELL BANKER BERMUDA

PROPERTY

SQ.FT. (APPROX)

ASSESSMENT NO.

ARV

LOT SIZE ACRE(S)

CALYPSO 45 Front Street

12,780

020731019

$215,000

0.103

021191018

$60,000

021193010

$46,000

021193118

$9,600

021195013

$9,600

021196010

$43,000

021196117

$8,400

021197016

$38,000

021198012

$13,200

021199019

$8,400

021200017

$8,400

021202010

$26,400

021203016

$118,400

021209014

$60,000

WALKER ARCADE 12 Reid Street

23,948

WALKER ARCADE 47 Front Street

Approximate SF Total =

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36,728

0.267 020724012

$22,800

020724110

$8,700

020725019

$12,000

020726015

$9,000

020727011

$4,200

020727119

$3,900

020728123

$20,400

020728212

$4,500

020728310

$5,400

020728417

$4,800

020729014

$37,000

020730012

$2,100

Total ARV =

$53,919 p/a

City of Hamilton Tax =

6.75% of ARV

Land Tax =

$75,886 p/a

Land Tax =

9.50% of ARV

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City of Hamilton

$798,800

City Tax =

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ZONE

Total = 0.37

(Note: Measurements and pertinent information are for guidance purposes only)

BERMUDA’S FULL SERVICE AGENCY

l The two properties comprise over

36,000 square feet.

l Right in the Heart of the City of Hamilton.

l Just over third of an

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Acre.

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BERMUDA’S FULL SERVICE AGENCY

TWO ICONIC LANDMARKS THE opportunity to acquire The Walker Arcade and The Calypso Buildings is now available for the first time since the early 1800’s. |

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BERMUDA’S FULL SERVICE AGENCY

Coldwell Banker Bermuda Realty as agents for this property give notice that:

These particulars do not constitute any part of an offer or a contract.

All statements contained in these particulars as to this property are made without responsibility on the part of Coldwell Banker Bermuda Realty.

None of the statements contained in these particulars as to this property are to be relied on as statements or representatives of fact.

Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.

Neither Coldwell Banker Bermuda Realty nor any person intheir employment has any authority to make or give any representation or warranty whatever in relation to the afore-mentioned property.

Coldwell Banker is pleased to provide information on this property.

These details are set out as a general outline only and are subject to verification. |

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COLDWELL BANKER BERMUDA

AGENCY DISCLOSURE FOR BUYERS AND SELLERS WHOM DOES THE AGENT REPRESENT?

When you enter into discussions with a real estate Agent regarding a real estate transaction, you should know whom the Agent will be representing in that transaction. All real estate Agents and their sales associates should promptly disclose their agency relationship to each actual or prospective party to a transaction. This disclosure will help you understand the choices that you can make ­regarding agency relationships.

In a real estate transaction, it is possible for the Agent to represent a seller only, a buyer only, or both parties simultaneously. You and the Agent need to agree on one of these three alternatives: The Seller Only… then under a listing agreement or other agreement with the seller, the Agency and its sales associates act as the agent or sub-agent of the seller. They owe their fiduciary duties to the seller only. Where an agent who is representing the seller, has listed the property with another Agent, that Agent is called a co-broking agent.

THE AGENT’S DUTIES A real estate Agent normally will enter into an agreement to represent and act as the “agent” for its client. Where an agency relationship exists, the Agent and its sales associates owe a “fiduciary duty” of loyalty, obedience, confidentiality, advice and reasonable care to the client.

No real estate agent has any authority to make or give any warranty in relation to a property.

Regardless of which party the Agent is representing, the Agent and its sales associates are required to treat all parties honestly and to deal in good faith. Agents must promptly present all offers, respond truthfully to questions concerning the property and offer their services without discrimination.

The Buyer Only… the Agent and its sales associates act as agent for the buyer, only if the buyer pays all or part of the Agent’s commission. The Agent and sales associates owe their fiduciary duties to the buyer only.

The Seller and the Buyer… then the Agent is the agent of both parties.

This arrangement is called dual agency. The Agent should only act as a dual agent if both the seller and buyer consent. The Agent is obligated to treat both parties honestly and impartially and

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to work so as to not favour one party or disadvantage any party.

There are two situations where dual agency occurs.

In one situation, one sales associate is representing both the seller and the buyer and that sales associate is acting as both the listing agent and the selling agent. In the other situation, one sales associate is the listing agent and a different sales associate is the selling agent, although both work for the same company.

If the parties agree to dual agency and the listing agent is not the same person as the selling agent, then the listing agent will be deemed to be representing the seller only and the selling agent will be deemed to be representing the buyer only. Each agent will keep confidential all information obtained from that agent’s client unless that client consents to disclosure.

YOUR DUTIES Sellers and purchasers have the duty to protect their own interests and to act with reasonable care. You should carefully read all agreements to assure that they express the terms of the transactions. Coldwell Banker Sales Representatives are not qualified to give legal, tax, engineering, or construction advice. All descriptions, dimensions, reference to condition and necessary

permissions for use and occupation should be satisfied by inspection or otherwise by competent professionals deemed acceptable by prospective purchasers.

You should seek independent legal counsel at your expense in order to assist you with any matter relating to the purchase and sale agreement or any other aspect of a transaction.

Once a relationship is established between you and an agent, you should disclose that relationship to any other party or agent who is involved in the same transaction.

CONTRACTS All offers relating to real estate offered for sale by Coldwell Banker Bermuda Realty as well as all offers and counter offers made are subject to contract and are not binding on the parties until a contract has been agreed and signed by both the Vendor(s) and Purchaser(s). All deposits paid by prospective purchasers are deemed to show an interest in purchasing real estate, and acceptance by Coldwell Banker Bermuda Realty of such deposit does not bind the Vendor(s), the Purchaser(s), or Coldwell Banker Bermuda Realty to any sale of real estate until a contract is agreed and signed by both the Vendor(s) and Purchaser(s).

ALL COLDWELL BANKER AGENTS ALWAYS REPRESENT THE VENDOR UNLESS OTHERWISE STATED.