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Rental rate concerns for Abaco business revival

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

Abaco’s Chamber of Commerce president yesterday said there were “no locations” where willing businesses can reopen, adding that landlords were “totally out of line” over the rents they are seeking.

Ken Hutton told Tribune Business that the “biggest problem” now facing the reconstruction effort is that multiple businesses want to return to the island, and establish operations again, but there are simply no suitable properties available.

“Although there are a number of businesses that want to come back and want to reopen, there are no locations to put them in,” Mr Hutton said. “The priorities right now are residences. Everyone is getting their homes together. There are some properties that are starting to be repaired for businesses, but they are way behind. There are no places for businesses to open up right now.”

Restoring Abaco’s business sector to health is vital to the speed, and sustainability, of the post-Dorian recovery given that it will provide the jobs and incomes essential to enabling many communities and households to finance their own rebuilding.

Both Maxwell’s (supermarket) and Premier Importers are open, the latter operating out of office containers. Mr Hutton added: “There are a few liquor stores, there are a couple of convenience stores and construction companies, but apart from that there are a couple of takeaway places for food. One pharmacy has opened ,and another one is about to open up inside Maxwell’s.”

He said banking services were slowly coming back after the category five storm, and added: “There are two more ATMs (automated teller machines). There is a Scotiabank ATM here now, and there is a Royal Bank ATM here now, and also Commonwealth Bank has opened.”

“But in terms of businesses coming back, there are no locations. And the locations that are available right now, the rents being asked are completely out of line for what would be able to be afforded,” blasted the Abaco Chamber president.

Declining to describe these rental rates as “gouging”, Mr Hutton said: “I’m just going to say that market forces right now dictate that demand outstrips supply.”

Overall, Mr Hutton said it was “getting better” in terms of the recovery effort. “The debris clearance seems to have turned a corner here,” he added. “I’m very happy with what I’m seeing, and everything is looking much cleaner.

“There is more security at the port. The port seems more organised now. There seems to be more people coming back, and there is more construction happening. Overall it seems to be getting more organised and there is a larger sense of optimism now.”

He acknowledged that the island was “struggling with some security issues”, but added: “The schools in general are being worked on. New Vision has opened up a small school in their facility and there are lots of kids there. The community is starting to come back but we still have a long way to go.”

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