Banks auction properties to recoup losses
Stabroek News
June 22, 2004
A number of residential properties and agricultural plots come under the auctioneer's hammer today at the State's Warehouse.
These properties have been advertised by commercial banks and will be sold to anyone who goes through the bidding process and is lucky enough to fight off eager fellow bidders. Some of these plots of land have been taken over by some of the commercial banks in an effort to recoup losses from loans not repaid.
The National Bank of Industry and Commerce (NBIC) has advertised ten properties for sale at the auction. On the top of its list is a property at Lot 162 Section 'B' No.65 Village, Corentyne, Berbice. There is also land on the left bank of the Mahaica Creek forming part of Lot 9 and 10 also known as the Powder Flask; one undivided fourth part or share of, in a tract of land situated on the left bank of the Mahaica Creek and two undivided parts on the right bank of the Mahaica Creek. Sub-lot 1 of Lot 'H' Alness, Corentyne, Berbice and a piece of land, part of a tract of land situated on the left bank of the Mahaica Creek are offered for sale by the NBIC.
The NBIC offers, too, properties situated at Sub-lot 'B' Station Street Kitty, Georgetown; Lot 49 Seventh Avenue, Bartica, Essequibo; W 1/2 of Lot 6 Section A, B, C, and D Anna Catherina, Canal No. 1 Polder, West Bank Demerara and Lot 2 Lima Housing Scheme, Essequibo.
At the auction, the Guyana Bank for Trade and Industry (GBTI) will be offering for sale one prime residential property of 5,000 square feet with a well-kept two-storey concrete building measuring 32' by 45' located at Lot 279 in Peter's Hall on the East Bank Demerara. It is also offering a prime commercial land suitable for sawmilling office or a lumberyard. This plot of land is approximately 75' by 75' and it is situated at sub lot lettered 'B' at 3 Water and Cornhill streets, Werk-en-Rust.
GBTI has also listed a residential property with two well-kept two-storey concrete and wooden buildings, .134 of an acre and part of Area 'G' being a portion of Meten-Meer-Zorg on the West Coast Demerara; and a plot of residential or commercial land of 3,483 sq. feet situated at the E 1/2 of the E 1/2 of lot numbered 96 Thomas Street, Alexanderville, Kitty, Georgetown, with one two-flat wooden building.
GBTI has also listed leased land with 25 years commencing from January 1, 1995, with an area of 19,950 and suitable for residential purposes. It is situated at Plot No.9 North Half Killamy, West Bank Demerara. This property has a two-flat concrete and wooden building. The bank also advertised for sale agricultural lands measuring 348.42 acres situated at Block IX; Parcels 12, 13, 17 and 18 - Parts of Plantation Flensburg, West Bank Demerara.
The auction takes place at 1 pm today at the State's Warehouse in Kingston.