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Former MegaMart Montego Bay property listed for US$15 million
🇯🇲 Jamaica /Economy & Trade

Former MegaMart Montego Bay property listed for US$15 million

From Jamaica Observer · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • A former MegaMart Montego Bay property is for sale for US$15.09 million, nearly eight months after Hurricane Melissa caused significant damage.
  • The 89,674 square foot property, previously owned by Wilco Ltd, was developed at a cost of US$20 million and sold to pension funds in 2013.
  • The closure of this location and another in Portmore resulted in over 300 job losses as the company consolidates its remaining two stores.

The former MegaMart Catherine Hall location in Montego Bay is now on the market for US$15.09 million. This prime commercial property, spanning 89,674 square feet, has been vacant for nearly eight months following severe damage from Hurricane Melissa.

MegaMart Wholesale Club operated from this site since December 2007. However, the Category 5 storm's devastation, which flooded the premises, led to its closure. The property is being sold by Wilco Ltd on an 'as-is' basis, with real estate firm REMAX Elite Realty suggesting its potential for various commercial ventures.

Wilco Ltd acquired the property in April 2015 for US$1.05 million. The original development cost for the site reached US$20 million. In 2013, the Catherine Hall and Portmore MegaMart properties were part of a sale and leaseback deal with a group of pension funds, arranged by Scotia Investments Jamaica Limited. This transaction provided MegaMart with cash while allowing it to continue operations under a 15-year lease.

The Portmore location, which had been operating for 26 years, closed on June 30, 2026. It had been subsidized by the Catherine Hall operations. The combined closures led to the loss of over 300 jobs as Cost Club strategically consolidates its business to its two remaining locations. The future of the Catherine Hall property remains uncertain.

DistantNews Editorial

Originally published by Jamaica Observer in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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