Lumber Depot confirms new property purchase
Published:Wednesday | October 29, 2025 | 12:06 AM
Lumber Depot Limited has confirmed plans to acquire property on Gordon Town Road, adjacent to its existing full-service hardware store in Papine.
The company expects to complete the property acquisition by the end of October 2025, financed through a combination of internal resources and bank loans.
“The immediate prior owner was a local family business engaged in retail and distribution,” said Chairman Jeffrey Hall, adding that the business will vacate the premises. “The expectation is that Lumber Depot will receive vacant possession of the building on completion,” he said.
The acquisition and subsequent development of the site will be subject to board and regulatory approval, Lumber Depot stated in a release.
Earlier, The company told the Financial Gleaner that such a deal was pending. The newly acquired site includes land and buildings zoned for commercial use, positioning Lumber Depot to scale operations. The cost of the acquisition was not immediately available.
“The acquisition includes land and buildings suitable for commercial use, and its location is strategic to Lumber Depot as it presents expansion and diversification opportunities for the hardware business,” Lumber Depot said.
The construction materials retailer has operated in Papine for over two decades, serving contractors and homeowners across the Corporate Area, which includes the parishes of Kingston and St Andrew. The company emphasised its deep roots in the community, describing Papine as a bridge between the farming and university communities.
Lumber Depot made $38 million in profit on $401.5 million of revenue for its July first-quarter, compared to $45 million profit on revenue of $386.5 million in the comparative July 2024 period. The company holds $866 million in assets, three-quarters of which are cash and investments.