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From:TheBahamasWeekly.com Local
Abaco Markets Limited has signed a 3 year lease with Price Right Ltd. for the building used by its former Cost Right Abaco store.
The lease includes an option to purchase the building at the end of the lease for $2.8m.
Additionally, an agreement was reached with Price Right Ltd. to purchase the equipment of the former business.
“We are pleased that a transaction could be agreed so quickly after our closing of the store in early March,” says Mr. Gavin Watchorn, President, Abaco Markets Limited. “This will allow us to turn a previous loss making store into a profitable rental center.
We will use the sales proceeds, along with the proceeds from the liquidation of the inventory, to make additional repayments on our Royal Bank outstanding bank debt,” he adds.
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Nassau, The Bahamas –Abaco Markets Limited announces the lease agreement for the building that housed its former Cost Right Abaco store as well as the sale of the equipment used by that business.