AML acquires 5-acre property for $3M to develop new Solomon's branded store on Yamacraw Hill Road

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August 09, 2016

AML Foods Limited, one of the country’s largest grocers, today announced it has acquired a 5-acre tract of land on Yamacraw Hill Road for $3 million from Luxury Homes Bahamas Limited. The property will be developed into a new 38,000 square-foot Solomon’s branded store in Eastern New Providence. The site will also include a location for AML’s Carl’s Jr. brand.
 
With this purchase, AML Foods will no longer be partaking in the previously announced joint venture to develop the shopping center with Luxury Homes Bahamas Limited, but will serve as the anchor store adjacent to the center being developed by the company. The new location will offer more options to customers on the eastern end of the island. With the official groundbreaking scheduled in the 4th Quarter of this year, the new Solomon’s store is anticipated to open in time for the 2017 Christmas season.

“We are pleased to announce this expansion of our real estate and commercial portfolio in eastern New Providence,” said Gavin Watchorn, President & CEO at AML. “Developing the property on the main Yamacraw Hill Road will grow our reach in this part of New Providence. Within the next 2-3 years, the immediate area surrounding our location will emerge as a residential and commercial hub and we are pleased to be a part of this growth. We look forward to this new opportunity to give the residents of eastern New Providence the same quality products and excellent service that our other customers enjoy.”

Approximately 75 new jobs will be created once construction is completed. The project will add to the company’s four retail and wholesale grocery outlets currently in New Providence — Solomon’s Super Center, Cost Right Wholesale and Solomon’s Fresh Market Harbour Bay and Old Fort Bay.

By Renea Knowles

News date : 08/09/2016    Category : Business, Press Releases

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