Greens buy another Bermuda property
They have purchased the Pegasus building and lot on Pitts Bay Road, across from their Fairmont Hamilton Princess resort.
The family, Andrew Green, brother Alexander, and father Peter, plan to spend $70 million on upgrading the Fairmont Hamilton Princess and building a new yacht marina.
A spokesperson for the Greens said yesterday: “The Green Family bought the property to satisfy anticipated additional need for parking at the Princess.
“There are no plans to develop the property.”
The sale price was not disclosed by the family.
Once a longtime antique, map and print seller operated by Robert Lee, the store closed down back in 2003.
Insight Visual Communications is now based there.
The property extends as far back as the adjacent Bacardi Building. It is understood the property was owned by a private individual/family, who then sold it to the Greens.
A realtor said a property such as that might list for around $2 million to $3 million on the market.
The Green family also own the former Sonesta Beach resort, which they paid $10.5 million for, property records show.
And they built the recently completed $100 million Waterloo House office and residential complex on Pitts Bay Road.