The Urban Development Corporation (UDC) has issued a Request for Offers to purchase a 23.61-acre property at Rodons Pen, Old Harbour, St Catherine.

UDC says the property, also known as the Cotton Polyester Textile Factory Complex, creates a strategic opportunity for qualified investors and operators interested in light-industrial development.

The property, registered at Volume 1226 Folio 317, is located approximately one kilometre west of the Old Harbour Town Centre and is zoned for Light Industry under the Town and Country Planning (St Catherine Plain) Provisional Development Order, 2017 (Confirmation) Notification, 2023.

The minimum reserve price is J$585 million.

The UDC says offers below the reserve price will not be accepted, and applicable General Consumption Tax, transfer tax, stamp duty, and administrative costs will subsequently be applied to the bid amount.

UDC General Manager, L. Robert Honeyghan, said the offer reflects the Corporation’s continued thrust to place strategic assets into productive use in support of national development.

The UDC said the competitive process is designed to attract qualified bidders with the financial capacity, business experience and development intent required to place the property into productive use.

The land is described in the Information Memorandum Document as irregular in shape, lying above road level throughout, and appearing to be free-draining. The site is bounded by reserved roads to the north, south and east, with vacant land to the west.

Prospective bidders are invited to obtain the Information Memorandum Document and application form from the UDC’s website at www.udcja.com/tenders-rfps-and-leases. Application packages are also available for J$2,000 from the UDC’s Head Office, Seventh Floor, Office Centre Building, 12 Ocean Boulevard, Kingston.