Alf lists Musgrave land
Published:Sunday | January 30, 2011 | 12:00 AM
Alf Investments Limited has put a corner lot at 34 Lady Musgrave Road on the market, but says the plan to develop it into an office complex has not changed.
Alf legal counsel Robert Taylor said the property, which is about three-quarters of an acre, is listed for $68 million. The land, which is part of the New Kingston artery, is vacant only for the overgrown grass.
Taylor said the the property was acquired by the company just about a year ago with the intention of developing offices there.
"Those plans remain," said Taylor. "However, the developer is open to the option of putting the property back on the market, or developing a purpose-built building for an interested party such as a group of professionals, a bank or embassy-type tenant with the option of a long-term lease," he said.
Owned by directors Mark and Ricky Mahfood, Alf was incorporated in 1992. Their track record includes The Trade Centre on Red Hills Road, which was built in the 1990s, and a commercial office complex at Annette Crescent off Waterloo Road in 2008, said Taylor.