Summit property heads to auction

Less than four years after Novamed acquired the former Knutsford Court Hotel with plans to turn it into a health, business and lifestyle campus, the New Kingston property is being advertised for sale by public auction under powers of sale contained in a mortgage.

The auction notice, seen by the Jamaica Observer, lists the property at 11 Ruthven Road and 16 Chelsea Avenue, Kingston 10, and schedules the sale for Wednesday, June 3, 2026, at 11:00 am.

The development marks a major turn for one of New Kingston’s better-known commercial properties, which Novamed Properties Limited acquired from hotelier Kevin Hendrickson in a transaction previously described as being valued at more than US$40 million between acquisition, closing and renovation.

Documents from the National Land Agency reviewed by the Business Observer show the property was transferred to Novamed Properties Limited in January 2023 for consideration of US$23.5 million. The same title document records a mortgage to Knutsford Court Hotel Limited to secure US$14.99 million.

Sources close to the matter confirmed that the sale to Novamed was financed by way of a vendor mortgage.

In practical terms, a vendor mortgage means the seller helps finance the purchase by allowing the buyer to pay part of the purchase price over time, with the property used as security. It is different from a conventional bank loan because the seller, rather than a bank, effectively becomes the lender for that portion of the deal.

That structure means Hendrickson, through the selling entity, retained a financial interest tied to repayment of the sale consideration, although the property itself had been transferred to Novamed Properties.

Novamed has not yet followed through on its commitment to speak with the Business Observer, indicating that it needs more time to comment. Hendrickson also declined to comment, noting that he would first need to consult his attorneys.

The auction notice describes the former hotel as having been converted into a business centre laid out in four blocks. It says the property offers 175 air-conditioned rooms now converted for office use, a restaurant and bar, about 10,000 square feet of meeting and banquet space, a swimming pool, courtyard area and 110 parking spaces.

The notice also states that the property has a total land area of 15,539.80 square metres, or 3.84 acres, and a total building area of 9,496.93 square metres, or 102,225 square feet. It includes three main three-storey blocks and a two-storey restaurant and lounge building.

The property sits in the commercial and corporate business district of New Kingston, with frontage on Ruthven Road and rear access from Chelsea Avenue. It is also within close proximity to Holborn Road and Dominica Drive, within easy reach of embassies, high commissions, financial institutions, shopping centres and public institutions.

The pending auction follows Novamed’s 2022 announcement that it had acquired the Knutsford Court Hotel from Hendrickson through Novamed Properties, a special-purpose vehicle created to acquire or operate real estate assets in the healthcare, lifestyle and commercial spaces.

At the time, Novamed said the property would be transformed into a business and lifestyle village focused on innovation, technology, health and wellness, with the development expected to complement its then newly acquired Medical Associates Hospital and form part of a wider integrated campus.

Novamed’s acquisition came as Hendrickson shifted more of his focus to the redevelopment of the former Wyndham Hotel on Knutsford Boulevard. Hendrickson also owns the Courtleigh Hotel and Suites and Jamaica Pegasus hotel, located in a connected row on Knutsford Boulevard in New Kingston.

The former Knutsford Court Hotel was later rebranded as Summit, with Novamed outlining plans to convert the four-acre site into a smart business campus.

But regulatory filings seen by the Business Observer show that the project also ran into planning issues. In decisions dated April 21, 2026, the National Environment and Planning Agency refused applications by Novamed Properties Limited for an environmental permit and planning permission relating to the construction and operation of office and commercial complexes, including shopping centres of 5,000 square metres or greater, and a change of use from resort to office at 11 and 13 Ruthven Road and 16 Chelsea Avenue.

The reasons listed for refusal were that the proposed development was not adequately planned with respect to parking provision, and that the applicant had failed to satisfy minimum application requirements, including a community survey and land use map in the case of the environmental permit application.

It is not clear whether those applications formed part of a revised development plan, or whether the refusals had any bearing on the property being advertised for auction.

The former Knutsford Court Hotel in New Kingston, now owned by Novamed Properties Limited, has been advertised for sale by public auction under powers of sale contained in a mortgage—less than four years after it was acquired and earmarked for conversion into a health and commercial campus. (Photo: Naphtali Junior)

The Chelsea Avenue entrance to Summit (Photo: Naphtali Junior)