Jamaica
News - Real Estate - Sales (April 28, 2004)
LOJ seeks Broilers
former HQ
Life of Jamaica (LOJ) has neared an
agreement to buy the land and buildings that once housed the Jamaica Broilers
Group headquarters at 15 Hope Road (near Half-Way-Tree) in Kingston.
Broilers, which relocated its headquarters to
McCooks Pen, St Catherine late 2001, to be within close proximity to its chicken
farm as part of its efforts at cost consolidation, has been asking US$3 million
for the 5.7-acre prime land and buildings.
Yesterday, R Danny Williams, chairman of Jamaica
Broilers, confirmed LOJ's interest in the property but stressed that the deal
was yet to be sealed.
"Negotiations are going on but nothing
has been finalised yet... hopefully within the next two week," said Williams.
Williams co-founded LOJ with Dennis Lalor in the
late 1970s, and is a former chief executive officer of the insurer.
The property has three entrances - on Hope
Road, Westminster Road and Strathairn Avenue - a feature which real estate
agents say adds to its market attractiveness.
Yesterday Wiliams dismissed reports that Broilers
had been negotiating at a price in the neighbourhood of US$2 million.
"Our asking price is US$3 million and
we're not varying much from that," he said. "If we don't get our price
we will just hold it."
Among those who have expressed interest in the
property are the University College of the Caribbean and a Kingston real estate
developer.
|
