Thu | Aug 17, 2017

Caymanas Golf and Country Club sold

Published:Sunday | March 26, 2017 | 3:00 AM
In this Gleaner file photo, a golfer plays the 10th hole at the Caymanas Golf and Country Club.

The Urban Development Corporation (UDC) has divested the Caymanas Golf and Country Club to a group of investors, according to well-placed sources, who said the staff there were advised of the deal last week.

Gleaner Business understands that the new owners will take charge of the facility on April 1.

UDC did not respond to requests for comment, but it's understood that the staff at the golf club, some of whom have worked at the club for upwards of 17 years, were told that there are no immediate plans for retrenchment but their situation would be reviewed after six months once the new owner takes charge.

They are to receive redundancy payments from their current employer.

The club and course were acquired by an entity called Caymanas Acquisition Group Limited, which was incorporated in August 2016, and which sources say include a group of equity investors, some of whom are members of the club.

The Caymanas Golf and Country Club is part of a sprawling acreage covering all the lands from the Six Miles area at the border of St Catherine and Kingston to the Hamilton Airstrip, behind Windsor Heights, and north to the source of the Fresh River in the foothills of Sligoville. The area was the subject of a development order in 2009.

The golf club has a main clubhouse and an adjoining banqueting area along with a pool and a full-size 18-hole golf course.

The property is part of the expansive 10,000-acre Caymanas Estate in St Catherine.

UDC years ago had indicated that lands adjacent to the golf course had been set aside for luxury housing, but the project has not moved beyond the six sample units on the property.

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