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Multi-million dollar bids for HSBC building

Several offers have been made on a building up for sale in the City of Hamilton for more than $10 million, according to a realtor.Penny MacIntyre, from Rego Sotheby’s International Realty, told The Royal Gazette yesterday there were “several interested buyers and offers” for the LP Gutteridge Building, at 34 Bermudiana Road.She said Rego Sotheby’s were exclusive agents for the sale of the six-storey building, which is owned by HSBC Bermuda, and that its listing price was $10.25 million.Ms MacIntyre said the property offered almost 28,000 square feet of rentable space on 0.15 acres.VSB News reported on Friday that Government was interested in buying the property for the Bermuda Housing Corporation.Asked about the report, BHC Chairman Charlton Dill said: “You’ll have to contact [Environment] Minister [Walter] Roban. That’s his responsibility.”It wasn’t possible to reach Mr Roban or to get a response from a spokeswoman for his Ministry.An HSBC spokeswoman said: “The bank doesn’t comment on rumour or speculation.”Ms MacIntyre said: “We do not disclose any prospects’ identities.”HSBC staff have been housed in the LP Gutteridge Building and other tenants have included Orbis Investment Ltd.Government’s Land Valuation Department website lists the property as having four office rental units.The annual rental value for the ground and first floors is given as $557,000; the second floor as $232,000; the third floor as $209,000; and the penthouse floor as $167,000.l Useful websites: www.regosothebysrealty.com, www.landvaluation.bm, www.hsbc.bm, www.bhc.bm.