Less than one week after the Urban Development Corporation (UDC) told the Financial Gleaner that it had identified a buyer, Prime Minister Bruce Golding confirmed the deal and offered a little more information on the identity of the prospective buyer.

According to Golding, the group, led by a Jamaican resident in the United States, was in line to buy the property.

"They have actually made an offer, it is a substantial offer. We have asked for a verification of the financing available, before we can refer the matter to the privatisation committee for consideration," Golding said at a town-hall meeting in Portmore, Tuesday evening.

Health facility

The prime minister also con-firmed the Financial Gleaner's report that the hotel is to be used as a medical facility and nursing school.

According to Golding, the American investors have a track record in the health business and he visited a major medical facility operated by them in Orlando, Florida.

Good offer

Last week, the Financial Gleaner reported that Joy Douglas, general manager of UDC, had disclosed that the agency received three offers for the property and that it had narrowed the selection.

"They were all initially below the reserve price, but one came back in a second round," she said, refusing to divulge the worth of the property.

The 11-story 200-room hotel is located on 6.73 hectares or 15.759 acres of land.

It also has 57 self-contained two-bedroom cottages with carports. The cottages range from as low as 191.28 square metres to as high as 569.5 square metres.

The property also has 23 unimproved lots with the size varying from 196.11 square metres to 4,000 square metres.

The hotel closed its doors 30 years ago, but over the years has been leased to several organisations. It was last leased to the Jamaica Christian College.