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BSP Life has plans for Regal Building

January 20, 2021 12:20 pm
BSP Life says the decision to buy the Regal Building in Victoria Parade boosts investor confidence in the local economy.

BSP Life says the decision to buy the Regal Building in Victoria Parade boosts investor confidence in the local economy.

BSP Life Managing Director Michael Nacola says the transaction will send positive signals to the private sector at a time when investments are stagnating.

Nacola adds the site itself has future potential.

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“As things start to pick up locally in the economy it gives up options to develop that whole area because the whole footprint belongs to BSP Life. Short term it gives us sustainable value and long term, opportunities to consider something bigger and larger.”

The historic building was bought from the Damodar Group for an undisclosed sum.

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