Jamaica
News - Real Estate - Projects (July
28, 2004)
Hendricksons to strengthen property management business
The
Hendrickson family will continue to operate the building formerly known as the
Island Life Centre on 6 St. Lucia Avenue, in its present state as a mixed retail
commercial/residential property. A source close to the family said: "The
family intends to strengthen the property management side of their business.
They don't want to have all their eggs in one basket."
The 10 storey, step-pyramid-styled building,
recently bought from Dennis Joslin Jamaica for a reported US$6.5 million (the
asking price was US$8 million), is 149,000 square foot of mixed commercial
space. It has two floors of retail mall space with a food court, cinema, gym and
bank. There is underground and terrace parking for 140 cars.
On the top two floors, high-end luxury penthouse
apartments overlook the New Kingston skyline.
According to commercial real estate experts, rents in New Kingston command a
starting price of $350 per square feet. Maintenance charges are charged
separately.
MAJOR HOTELIERS
In addition to the property management and ownership of the 6 St. Lucia Avenue
property, the Hendrickson family, led by Karl Hendrickson, is major hoteliers in
the league of John Issa of Superclubs and Butch Stewart of Sandals. They own
Courtleigh Hotel & Suites, Knutsford Court Hotel, Blue Mountain Inn, the
Ruins in Ocho Rios, Palms at Sunset in Negril and View Fort in the island of St.
Lucia. Additionally, the family continues to dominate the manufacturing industry
through National Continental Bakery, Yummy Bakery, Holsum Bakery and Caribbean
Broilers.
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