Esso land the ‘sticking point’
THE FAILURE to acquire a strip of land at the Esso site at Walmer Lodge, St Michael, may have contributed to a previous failed attempt to revive the Four Seasons Resort project, business sources have said.
The SUNDAY SUN has learnt that the developers desperately needed the four acres to secure funding to restart the luxury project after it had stalled.
The land was needed for a second access to the resort as well as for non-residential buildings, such as a laundry and tennis courts, but the developers’ offer of $6 million was not accepted, the sources said.
Not only did the developers have to commission a valuation of the land, but they also had to have an environmental study undertaken on the Esso property to clinch the financing. (MB)
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