A New Kingston property that once used to house one of the capital most iconic cultural centres, the Barn Theatre, is up for sale with a price tag of US$1.9 million (J$148 million), selling agent Century 21 said yesterday.

Situated at the corner of Oxford and Ripon Roads in the capital's uptown district, the property has 34,000 square feet of buildings on three-quarter acres and land considered ripe for commercial development.

Century 21 is positioning the property for corporate offices or a banking centre.

One of the out buildings on the site was, for more than a generation, used as a theatre that staged many of Jamaica's best-known plays until The Barn was shuttered nearly two years ago for economic reasons.

Now, the owners of the property who were not named have decided to put it on the market.

Queries flowing

Substantial open acreage is rare in New Kingston, which would normally make such a property hot commodity for owners.

But the present situation remains uncertain given the sharp economic downturn globally, which has negatively impacted Jamaica where interest rates have been on a rise and investment in government paper.

Nonetheless, within days of the Century 21 posting the property on its website and placing for-sale signs at the physical site, queries have flowed in.

"There has been a shortage of these types of commercial space for a while," Century 21's managing director Deborah Cumming told Wednesday Business. "We have quite a lot of interest in it but as yet, no firm offers."

sabrina.gordon@gleanerjm.com