By Dennise Williams, Staff ReporterWEDNESDAY Business understands that 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. Wednesday Business understands that the property is 94 per cent occupied. 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.
As at going to press, Wednesday Business was unable to secure comments by members of the Hendrickson family.
