Confidence in the economy, coupled with opportunism around the America’s Cup, has spurred a surge in the retail industry.

Penny MacIntyre, executive vice-president at Rego Sotheby’s International Realty said there has been a renewed interest in retail and warehouse space, particularly over the past two weeks.

Ms MacIntyre told The Royal Gazette: “We have been working with tons of new businesses doing start-ups that want to open restaurants, sports bars and concierge services. There is a big movement for people to start looking to launch their business concepts and capitalising on this.

“We have had a big boom of interest for retail space and we have been showing people lots of warehouse space which is in demand again. We are seeing pop-up stores as well as long-term businesses.

“Because of all this momentum and interest in town and also the America’s Cup being here you see the ripple effect that is now translating to interest in central parishes as well as towards the West End as well.

“There is definitely a movement and they are all seeking places for those purposes.”

Ms MacIntyre said that RegoSIR has had 15 people over the past couple of weeks which she describes as “a massive uptake”.

“Usually we maybe get one or two every couple of months and it is increasing — as of today we have had three new interests,” she said. Ms MacIntyre also said there had been interest in Warwick in the Gallery 61 which is up for sale. She said several proposals were being put forward.

Manager of professional services for RegoSIR Steve Bowie has been showing potential tenants around a building called The Stables at 91 Reid Street.

He said: “We have had a lot of people looking at it since it has been refurbished. In conjunction with the fact that we have it ready now and it is available we are seeing quite a lot of interest from people who are looking to provide entertainment or catering here. “I think the economy is improving and we are seeing more interest generally. I think the level of appetite has increased because the people looking to provide those services are seeing a market which is going to need to be more heavily catered for.

“We have also had people doing event management. We hope to get a letting fairly shortly.”

Tim Marshall and his son Zach are renting a space on Reid Street as a gallery. Tim Marshall told The Royal Gazette: “The decision was inspired by Zach’s artwork but it was certainly fortuitous that the America’s Cup is happening during this week as well as there are just so many people in Bermuda for that event that it has got to help all retailers and art galleries.”