New high-rise office complex for New Kingston

Sygnus Real Estate Finance Limited and its subsidiary, Audere Holdings Limited, have launched construction of a modern office building enhanced by smart technology and multiple-level parking spaces, to be known as One Belmont.

Overall, the high-rise commercial complex will span nine floors and put 78,789 square feet of rentable space on the market by 2023, when the project is expected to be finalised. Its project team includes BYD as contractor, Peter Jervis & Associates as civil engineers, and Neustone as project manager.

The edifice, designed by Virtuoso Architects and named for its address, 1-3 Belmont Road in New Kingston, will feature four levels of parking, totalling 310 parking bays, and include a terraced rooftop for recreation and social events.

William Tavares-Finson, who is a director of Audere Holdings, contributed a portion of the Belmont lands being used for the project as equity. Financing of the overall $3.7- billion project was arranged by Sygnus. Audere Holdings was formed in January 2020 and is owned 70 per cent by Sygnus Real Estate Finance and 30 per cent by Tavares-Finson and his firm D.C. Tavares & Finson Company Limited, according to Companies Office of Jamaica records.

Sygnus Real Estate was formed two years ago and is a member of the Sygnus Group. The real estate investment company went public and listed in October, with a number of projects either lined up or in execution, inclusive of a tractor dealership and headquarters under development in Kingston’s industrial belt on behalf of IMCA Jamaica, distributors of Caterpillar construction equipment.

In the documentation released for the One Belmont development, the company incorporated a pictorial reminder of its other pending projects, which includes two luxury residential developments—Ocean’s Edge Country Club, to be built in St Ann, and Wasser Norbrook in Kingston; and an industrial complex to be called Lakes Pen Industrial Park and sited in St Catherine.

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