Master Redevelopment Plan For The Former Bermuda Bakery Site Announced

Belvedere Place.

Mr. David White the Chairman of West Hamilton Limited explained that the former Bermuda Bakery Limited had evolved into a property development company called West Hamilton Limited. "The Bermuda Bakery no longer exists and West Hamilton Limited has been structured as a development company for the purposes of re-developing the former industrial and commercial site," said Mr. White.

Mr. White said that "the 2.09 acre site is located on the north side of Pitts Bay Road in the heart of a new and expanding business district on the western outskirts of the City of Hamilton. Today the area accommodates the main offices of some 14 major international companies."

Glenn Titterton is Chairman of West Hamilton's Development Committee. He explained that "aside from the Belvedere Building, the site has had various industrial and commercial uses, primarily as the former Bermuda Bakery and was grossly underutilized given its prime siting." "West Hamilton Limited is now moving ahead with a master plan for the phased redevelopment of the site and the intention is to create opportunities for other parties to participate in the re-development. There are opportunities for part ownership in one or more of the five buildings as well as opportunities to be significant tenants of superior office space in a unique business centre." 

"The goal is to create a business centre of the highest quality with state-of-the-art office and residential space to meet the needs of Bermuda's international business sector. The development will also offer opportunities for restaurants and a café including outdoor dining."

Mr. White pointed out that for the foreseeable future the Belvedere Building will remain, and will be upgraded and incorporated into the overall plan.

The site is arguably the largest consolidated commercial property in Bermuda that is ripe for new office development and Mr. Titterton explained that the Board had felt it critical to hold a design competition in order to recognize the very best opportunities to create a unique development that Bermuda would be proud of.

" Four firms of architects competed and our Board were delighted with the quality of the presentations. Butterworth Associates have been selected as the competition winner and they are now busy communicating with the Planning Department and preparing overall plans for approval in principle".

Mr. Fraser Butterworth, the principal of Butterworth Associates explained that "the size and characteristics of the site provide for the development of a series of free-standing buildings with large floorplates, and with access to light and air on all four sides.  Arranged around landscaped pedestrian courtyards, the buildings can be linked by skywalks above ground and will have shared access to underground parking and servicing."

"Shops, restaurants and cafes will bring Belvedere Place to life as will the inclusion of high quality apartment development."

He said that "once Planning approval has been received for the overall site, our firm will proceed immediately to design the first building and the underground parking and services."

Mr.Titterton said that "the first phase to commence in 2007 will involve the development of the first new building on Pitts Bay Road to the east of the Belvedere Building, and the construction of the entire underground parking and servicing area." "I am particularly pleased that we will complete the front building first and will complete the streetscape along the entire Pitts Bay Road frontage including the Belvedere Building. We will also complete all of the site excavation at the first stage to minimize future nuisance. Further development will then take place at the rear of the site, largely out of sight of the public and the tourists that frequent the area."

"He said that the prime location, the size of the development and the fact that there will be 5 separate buildings in a garden setting and with 2 levels of underground parking, offers exceptional opportunities for companies wishing to participate in the development either as financial partners or as substantial tenants. We will be approaching potential participants in the near future."

ENDS

About West Hamilton Limited

West Hamilton Limited is the successor company to the Bermuda Bakery Limited which was incorporated in 1923. The Bermuda Bakery ceased baking bread in 2003, closed its Bakery Division in 2004 and the name of the Company was changed to West Hamilton Limited in 2006 to reflect its focus on the ownership of the Belvedere Building and on re-developing the former industrial and commercial site on Pitts Bay Road, Pembroke.

For more information please contact:

Glenn M. Titterton,

Chairman, Development Committee

West Hamilton Limited,

Phone 441 238 1182

E-mail glenntitterton@logic.bm

Fraser Butterworth,

Butterworth Associates

Phone 441 296 2915

E-mail fbutterworth@dl.bm