Holborn Road landmark up for auction
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Plans are afoot to auction an incomplete New Kingston building at 8 Holborn Road whose construction was halted at one point by the authorities.
The property — described in the auction notice as "an incomplete multi-storey commercial building containing seven floors and two basement levels" along with all surrounding land — is slated to go under the hammer on Thursday, June 4, at Marescaux Road. The notice from auction house CD Alexander Company Realty Ltd states that the sale will be conducted "under power of sale contained in a mortgage" over 8 Holborn Road, Kingston 5.
In September 2024, the Kingston and St Andrew Municipal Corporation (KSAMC) issued a stop notice for "Construction without valid Building Permit" for 8 Holborn Road following a site inspection. The KSAMC noted that while a permit had originally been granted, it had since expired and was not renewed by the developers.
Nika Management Company Limited owns the property. Incorporated in 2011, according to Companies Office documents, the company lists Nigel Jones and Karolin Campbell-Jones as directors and shareholders, each holding 500 shares. The Financial Gleaner was unable to reach the directors when the listed numbers were called.
According to title records from eLandJamaica, Nika acquired the property in January 2012 for J$40.5 million under a Power of Sale from previous owner Earl O'Garo, who had himself purchased the property in February 2007 for roughly US$540,500. In December 2023, Nika borrowed US$2.7 million with interest against the property from Kingston 8 businessman Mark Chin — and it is under that mortgage that the June 4 auction has been called.
Decades earlier, the location housed the Indies Pub & Grill, the go-to spot for pizza at a time when franchises had not yet made their way to Jamaica. The original proprietor on the title, Indies Hotel Limited, was registered at the adjoining 5 Holborn Road.