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Georgetown Shopping Center is a modest neighborhood retail property situated on Queen's Highway in George Town, Exuma, Bahamas. Constructed in 1990, it encompasses 1,500 square meters of gross leasable area, potentially across multiple levels, with around 1,000 parking spaces available. The tenant mix prioritizes convenience-oriented businesses, including anchor tenants like Exuma Markets for groceries, the Straw Market offering local crafts and souvenirs, and assorted local boutiques providing essential services and take-away food and beverage options.
This setup aligns with the needs of the local community and transient visitors in this island setting. George Town's population hovers around 2,500 within a 5 km radius, featuring an average age of 30 years, household size of 4 persons, and median income of approximately $5,000 BSD monthly, with a 1.3% growth rate and 3.5% unemployment. The center benefits from Exuma's tourism sector, which saw a 2.2% rise in air arrivals through August 2025, drawing yachters, eco-tourists, and families to nearby attractions, thereby enhancing seasonal footfall estimated at 50,000 monthly visitors with an average dwell time of 2 hours and 20% conversion rate.
Occupancy is approximately 90%, supported by competitive rent levels of about $100 per square meter per month.
Accessibility via the primary highway is excellent, though public transit options are sparse.
Leasing advantages encompass medium-term flexibility for small retailers, high traffic proximity to tourist hubs, and a diverse, high-density mix integrating heritage elements like street food. Drawbacks include unsuitability for large anchors, fashion outlets, or destination concepts due to scale limitations, alongside risks from aging infrastructure, seasonal tourism fluctuations, and competition from informal markets or e-commerce in a saturated souvenir category.
The property holds potential for retailers focusing on locals and budget travelers in a market emphasizing sustainability and authentic Bahamian experiences.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
The center draws from a local demographic of roughly 2,500 residents in George Town, with an average age of 30, household size of 4, and annual consumer spending around $2,000 per household, split as $500 on apparel, $800 on dining, and $300 on entertainment. Economic indicators show median income at $5,000 BSD monthly and 3.5% unemployment, with 1.3% population growth. Tourism supplements this, with Exuma's increasing arrivals boosting footfall to about 50,000 monthly visitors, averaging 2-hour stays and 20% conversion, primarily for shopping (40%) and dining (35%). Challenges include limited scale capping broader appeal and reliance on seasonal influxes.
Tenant Mix and Competition
Tenant composition features high diversity and density, anchored by Exuma Markets, Straw Market, and local boutiques, ideal for convenience stores, services, and F&B take-aways but not anchors, fashion, or experiential retail. Competition arises from nearby small grocers, hardware stores, liquor outlets, and digital channels, with moderate e-commerce penetration at 90%. Strengths lie in heritage integration like street food drawing tourists; weaknesses encompass market saturation in crafts/souvenirs and aging 1990s infrastructure potentially impacting operational quality. Overall, suits niche local operators amid high-density but small-scale environment.
Leasing Terms and Risks
Leasing offers medium flexibility with rents at $100 per sqm monthly, 10% vacancy, and terms favoring small formats up to 5,000 sqm total space under local private ownership. Advantages include direct highway access, 1,000 parking spots, and security via CCTV/guards, with low crime rates. Risks involve limited public transport, vulnerability to hurricanes affecting accessibility, and weak categories like general merchandise due to competition. Operational enhancements desired: family amenities, healthier dining, sustainable brands. Growth potential at 5% aligns with tourism trends, but saturation and infrastructure needs warrant caution for long-term commitments.
Building Details
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City Snapshot
George Town
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City Snapshot
George Town
Comprehensive market intelligence for retail expansion in this city
