The Bermuda Pharmacy threw open its new doors yesterday in a waterfront complex that several businesses and 500 employees will soon call work.

The pharmacy, part of the Phoenix Stores chain, has doubled its size in the move to the new Pitts Bay Road location opposite Bacardi -- compared with its former Church Street shop.

And last night Phoenix Stores president and CEO George Grundmuller said staff were excited about the new premises and the other offices and shops which would soon be joining them.

"It is stimulating to be a part of this development. It's not just about us but also the Miles Market are here and eventually 500 people will work in the complex.

"Centre Re is also moving in on June 18. The whole complex is already rented and within three months everyone will be settled here.'' He said even around the complex itself, other businesses were mushrooming into a thriving business community.

ACE Limited and XL Capital Ltd. were also building glitzy new headquarters nearby and Bacardi was expanding, he said.

And Mr. Grundmuller said all of those businesses meant a heavy flow of workers, lunchers and clients would throng to the complex which would have car parking underneath and bike parking in front.

"Obviously all of this is good news for the pharmacy. We decided to move because we could see this is what was happening and there are also large residential areas behind Pitts Bay Road like Fairylands and Spanish Point.

"The synergy between the pharmacy and Miles Market will mean all these people can come to the complex, buy all their grocery shopping at Miles then come to the pharmacy and buy their health, beauty and prescription products.

"It's not exactly a partnership we've formed but there is a definite co-operation and a synergy there to make this a true one-stop shopping centre.'' The revamped, spacier Bermuda Pharmacy could also stock not only the usual health, beauty and drug store products but also the Island's second largest Hallmark card centre, a souvenir tourist counter, drinks and snacks.

Their official opening party will occur on June 25 with special prices.

He said the pharmacy would be open for business for extended hours between Monday to Saturday from 8 a.m. to 9 p.m.