Kingston, Jamaica — A routine Monday turned precarious for Kingston Properties Limited (KPREIT) when a fuel-laden truck from Future Energy Source Company (Fesco) erupted into flames just after 2:00 p.m., lighting up the corridor of KPREIT’s 8,118-square-foot industrial hub at 591 Spanish Town Road.
The blaze funneled directly into Agri World Farm Store — the tenancy dedicated to irrigation gear, livestock feed, and agricultural chemicals. Firefighters deployed specialised foam across six units to throttle the flames; no injuries were logged. Structural engineers and insurers were on site by dusk to quantify the hit. Early signals: only the Agri World wing took material damage, while the larger skeleton of the complex held firm.
Notably spared was the former McIntosh Bedding plant, a 30,000-square-foot warehouse-and-office block KPREIT has been marketing at US $26,250 per month since the mattress maker folded in December 2024. KB Real Estate — fresh from liquidating 99.9 per cent of McIntosh’s inventory at a May 24 auction — confirmed its section “remains intact; only the guardhouse felt the heat.”
For KPREIT, the incident lands amid a broader capital-rotation drive. Management has already flagged one Jamaican holding for sale at just over US $3.5 million and is eyeing redevelopment or alternate income streams across under-performing sites. Last year, the Spanish Town Road asset carried a book value just shy of US $3.4 million — a number that could shift once fire-damage assessments are finalised.
Requests for clarity on potential loss-recovery plans were met with no comment from the property trust. Investors will watch closely: a swift rehabilitation could dovetail with KPREIT’s stated goal of unlocking hidden equity across its portfolio; delays could throttle momentum precisely when the firm is repositioning for higher-yield plays.
