high tech Channel House in St. David's.

WarPaint Ltd. a financial services and multimedia technology company has signed a long-term lease with the BLDC for part of the second floor of the three storey building.

Director of WarPaint, Lawrence Dixon, said price and Internet connectivity were major factors in the move.

Mr. Dixon said: "WarPaint is looking to develop business and are conscious of the need to be cost effective. We are also aware of the capabilities that the Internet provides to operate a distributed office environment.'' He added: "The office facilities at Channel House in Southside are very reasonably priced, provide very strong Internet capabilities and will be very attractive for businesses that do not have to be in Hamilton.'' Channel House is currently undergoing extensive interior and exterior renovations and has seen more than $1.5 million pumped in by the BLDC.

The work includes the construction of a large central lobby, installation of a complex data and communication cable system, parking lot, air conditioning and fire suppression systems.

The exterior will be refinished with a Bermuda style facade designed by OBM Architects.

WarPaint will join the Department of Civil Aviation in leasing the building, which is now more than 50 percent full.

BLDC vice president for commercial development Mark Orchard said the building's attraction is based on competitive rents, Southside's beautiful environment and the company's flexibility in suiting it's customer needs.

Mr. Orchard added: "We think this is the best environment in Bermuda for businesses to succeed and we encourage others to call and visit Southside to see for themselves. Now is the time.''