The Gleaner building at 7 North Street in Kingston
The RJRGLEANER Communications Group has signed a binding agreement to sell the historic Gleaner building at 7 North Street in Kingston.
The deal with LP Azar Limited also includes adjacent lots and parking areas.
The company says the sale forms part of a wider strategic restructuring and modernisation effort. It is aimed at streamlining operations, improving efficiency and boosting long-term shareholder value.
RJRGLEANER adds that the move will support the continued consolidation of its operations at the Lyndhurst Road campus. It also allows the company to focus more on its core print, digital and broadcast businesses.
The transaction is expected to be completed within 45 days, pending standard closing conditions.
Staff currently based at the North Street location will be accommodated at the group's Lyndhurst Road facilities.
The company says it will make further disclosures as required under Jamaica Stock Exchange rules.
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