Mahogany Inn property back on the market
Published:Friday | August 27, 2010 | 12:00 AM
Eight years after its first attempt, the Urban Development Corporation (UDC) is trying again to sell the Mahogany Inn property in Negril, but this time has thrown in additional lands to sweeten the deal.
The small, 18-room Mahogany Inn was shuttered in 1998 and advertised for sale in 2002.
Three buildings on the property were subsequently demolished, leaving the site vacant.
Originally listed as a 3.09-acre beachfront property, the UDC - Government's appointed guardian and developer of state-owned real estate on Jamaica's waterfront - has now added another two acres on the opposite side of the road to the pot.
UDC general manager Joy Douglas declined comment on the value of the property, saying it would form the basis of the reserve price - that is, the lowest offer the UDC would be willing to accept from bidders.
Potential investors will have to prove that their plan for the site would not disrupt the area's delicate ecological balance.
"The UDC has guidelines for the development of the property that would also form part of the assessment of bids," said Douglas.
Proposals for purchase must cover the development concept, including the final number of rooms, project cost, management structure, marketing plans and an implementation schedule.
The property is part of Ireland Pen, which years ago was zoned by the UDC for resort use, said Douglas.
Water and sewerage infrastructure is already available.
Ireland Pen is located north of Bloody Bay, which is itself home to some of the largest resort hotels in Negril.