The National Housing Trust, NHT, plans to sell its former office building on Martin Street, St Catherine, the latest in a line of commercial real estate it has placed on the market.
The housing agency wants to court businesses to operate a “supermarket, haberdashery or wholesale” at the premises.
“The building had for a number of years housed the St Catherine branch of the NHT, until operations were transferred to the new office building at Twickenham Park,” NHT said in written responses to Financial Gleaner queries.
The property houses a two-storey building, with available land space suitable for parking and storage.
The price of properties for sale are usually disclosed, but NHT declined to state the price it is seeking.
“The NHT is currently inviting bids from interested parties to purchase the property. To share such information at this stage would prejudice any transaction into which the NHT may enter,” it said.
The building was occupied under lease after NHT relocated its branch, but that tenant has since vacated the property, NHT said.
The NHT placed the building on the market in mid-April, adding to the 13 other commercial properties, most of which are lots and agricultural lands, listed for tender.
“From time to time the NHT advertises properties which may be done in clusters or as standalone properties based on their location, proposed use and other considerations,” the agency said.
The value of NHT’s fixed assets was estimated at $2.15 billion up to March 2022, with expectations that the holdings will increase in value to $2.9 billion this fiscal year.
NHT’s core remit is the provision of affordable housing and mortgages.
It plans to commence the construction of 8,622 units and deliver 5,567 this year, ending March 2023. It expects to spend $35 billion this fiscal year, down from $50.5 billion.