RJR/Gleaner Communications Group has signed a binding agreement to sell its historic property at 7 North Street in Kingston, Jamaica as part of a broader restructuring effort aimed at improving operational efficiency and enhancing long-term shareholder value.
In a statement issued, the media company said the agreement with LP Azar Limited includes the North Street building, adjoining lots and parking areas.
The company explained that this forms part of a strategic initiative to streamline operations and further consolidate activities at its Lyndhurst Road campus. According to RJR/Gleaner, the move will allow the organisation to place greater focus on its core print, digital and broadcast operations.
The transaction is expected to be completed within 45 days, pending the fulfilment of standard closing conditions.
RJR/Gleaner also confirmed that employees currently based at the North Street location will be relocated to the company’s facilities on Lyndhurst Road.
