WIHCON developing offices for professionals
West Indies Home Contractors Limited (WIHCON) is projecting revenue of at least J$400 million from a new commercial development at 34 Lady Musgrave Road, a high-priced location on the cusp of New Kingston, but is not saying how much it plans to invest.
The Musgrave Professional Suites development will offer 21 offices ranging in size from 600 square feet to 912 square feet, and one two- storey unit of 2,610 square feet.
WIHCON director Judith Bruce, who declined to discuss the cost of the development, said the project is the only commercial venture planned by the company for 2013.
Musgrave Suites aims to capitalise on the high demand for space near New Kingston, while avoiding much of the traffic congestion of the area.
The development spreads across three-quarters of an acre adjacent to the Small Business Association offices at Lady Musgrave's intersection with Trafalgar Road.
Bruce said the units are priced at US$250 per square foot for the ground floor and US$275 for those with mezzanine area, and will go on sale within a month.
The project is expected to take approximately 12 months to be completed," she said.
"We have had queries from attorneys," said Bruce.
"Maybe it will also be attractive to people who operate small accounting operations. We imagine professionals looking for office space such as architects and IT people will buy."
The complex will offer water storage, stanby generators and basement parking.