The Urban Development Corporation (hereinafter called “UDC”) requests the submission of offers to purchase “Lot 12, Exchange Avenue, Portmore Town Centre, St. Catherine” for commercial development. The subject property is registered at Volume 1323 Folio 948 with an approximate area of 1.047 hectares
(2.587 acres).
Exchange Avenue is the most south-easterly roadway in the subdivision that connects off Dawkins Drive (one-way) in the south-west to the north-east, where it connects with east Trade Way. Additionally, the subject property, Lot 12, is buffered from the highway 2000 Portmore exit leg that leads to Kingston in the south by an earth drain with reservation from Dyke Road by another shallow earth drain to the east. However, the subject property is located on the south-eastern side of Exchange Avenue, just opposite National Commercial Bank (NCB), the junction with West Trade Way and part of the Maxie Department Store property in the eastern section of Portmore Town Centre.
It is easily identified by the description plan and is bounded as follows:
- Northeast: Lot 11 Portmore Town Centre (vacant commercial land)
- Southwest: Section 2 (vacant strip of land separating the subject from an unpaved earth drain and labelled drain access on the Deposited Plan)
- Northwest: Exchange Avenue (access roadway) and road reservation area
- Southeast: Vacant strip of land separating the subject from an earth drain and Dyke Road
The sale price (minimum bid) to purchase Lot 12, Exchange Avenue, Portmore Town Centre, St. Catherine registered at Volume 1323 Folio 948 is Three Hundred Forty-Seven Million, Three Hundred Thirty-Three Thousand Jamaican Dollars (J$347,333,000.00). Offers below the reserve fee amount will NOT be accepted. Please note that GCT, Transfer tax and Stamp duty will be subsequently applied to the bidding amount.
Click here to download the Information Memorandum Document (IMD) and application form. The IMD becomes available on FEBRUARY 16, 2025. Application Packages are also available for J$2,000 from the UDC’s Head office, 12 Ocean Boulevard, Kingston.
ACCEPTANCE OF BIDS CLOSES MARCH 20, 2025, AT 2:00 PM. This is a competitive bid process. Bids will be deposited in the appropriately labelled tender box on the Seventh Floor, of Urban Development Corporation (Office Centre Building), 12 Ocean Boulevard, Kingston.
An official public opening of bids/offers will be convened on MARCH 20, 2025, AT 2:15 PM. at the offices of the Urban Development Corporation (Office Centre Building), 12 Ocean Boulevard, Kingston.
Enquiries, requests, and all correspondence relating to this offer are to be directed to:
Strategic Sourcing and Procurement Department
Urban Development Corporation
Seventh Floor, Office Centre Building
12 Ocean Boulevard
Phone:(876) 656-8031
Fax: (876) 922- 9326
The Urban Development Corporation (UDC) is not bound to accept the highest or any offer. It reserves the right, without prior notice and in its absolute discretion, to change or terminate the tender process at any time before signing the contract.