$19M per acre land , wow these guys at NHT are some smart investors

According one one board member the value of the PROPERTY (Land , Building, Furniture, Fixtures  Fittings and Equipment ) and was said to have been worth between $280m and $330m as per the two valuations received.

The NHT board approved the purchase of the PROPERTY for $191m and he( the board member) said this was a bargain, given the forced sale value of $220m. That board member also said the PROPERTY could be sold today for in the region of $220 and the NHT would be swimming in money.

So let’s breakdown the maths given that the board and now the inept Prime Minister would like us to believe that they (NHT) only purchased the land and NOT the PROPERTY(Attraction).

So given the new reason that the idiots of this country are to accept, it means the NHT paid for 10 acres at $19m per acre, not including buildings, fittings and fixtures and all of this were just extras.

I would like to see the idiot who would have invested significantly in the structure and then turn around and give it away for free, given the Prime Minister and the NHT board new position.

This new position is more asinine that the first as at least in the first position the NHT would have spent money buying an an attraction, that may sometime in the future with good marketing could be offloaded to someone, who could find it a worthwhile investment.

The NHT would like us to believe that all that building fixtures and fittings was not worth a damn thing and it was simply thrown in the mix, ok we believe.

Can someone ask the NHT board to present a copy of the valuation for the property so we can see what value the valuator  placed on each item ie

  1. What was the value of the land ?
  2. What was the value of the building ?
  3. What was the value of the fixtures , furniture , fittings and equipment

The above would give us a good insight into what the NHT really bought.

So Madame PM, you have 21 days to present to parliament the valuation for the Out-a-money attraction, since we are all idiots in this country.

What about the further $111 the NHT Chairman said he was going to spend, is that to fix up the LAND or the ATTRACTION.

Also what about the offer from the former owner to stay on as a consultant to operate the LAND ops I mean the ATTRACTION ?

If you buy land, why spend a $111m to fix it up, what does that entail.

The Prime Minister should have not read that stupid report to parliament as its an insult to the intelligence of the people of this country.

For all those MP who cannot seem to get affordable housing for their constituents, are you all going to sit back and watch your people get screwed, if so who do you really represent.

I challenge the people of Jamaica to ask their MP’s if they support the NHT deal and if so, what about your interest, what is he going to do to ensure you can get affordable housing so you don’t have to be squatting on other peoples land.

Its time Jamaicans started acting tough instead of talking.


3 Responses

  1. http://mobile.jamaica-gleaner.com/gleaner/20141029/business/business1.php

    Douglas told Wednesday Business that the NHT acquired the site “lock, stock and barrel”, but then qualified that the deal excluded some of the furnishings, which the agency did not need.

    The sellers initially sought $311 million for Outameni, but NHT finally acquired it for $180 million, “based upon the valuation that we had done,” the chairman said

    The agency, which hopes to have the facility up and running within this financial year, will spend $111 million on upgrades over a three year period.

    “We project to spend $66.7 million in operating cost for the first year, with income projected at $50.1 million for the first year,” Douglas told Wednesday Business.

    He also said the housing agency was optimistic that it could deliver a profitable and diversified attraction to the north coast.

  2. My questions have been answered, finally !

    Land – $12,739,700

    Great house – $58,496,800

    Theme Park:

    Building where shows are done – $79,836,500

    Display area – $79,037,800

    Walkways – $39,516,000

    Other buildings – $8,211,400

    Juice bar – $1,770,600

    Jerk centre – $1,714,000

    Games room – $2,751,200

    Washrooms – $1,330,600

    Security post – $64,700

    Ticket office – $198,000


    Building one – $1,000,700

    Building two – $3,389,700

    Building three – $273,200

    Building four – $58,400

    Tanks – $5,082,000

    Land development – $15,246,000

    Now we know who is lying

  3. What does the fact say ?. Did they buy LAND for 180M. What was in the final sales agreement ?.

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