Government invites tenders for ex-MOD residential properties

Update
Government invites tenders for ex-MOD residential properties


Date : 
20/04/12

Ref   : 
256/2012


Government invites tenders for ex-MOD residential properties


The Government wishes to inform the general public of the latest position regarding the sale of ex-MOD properties by tender.

1. Two large detached houses at Europa Point, Napier House and Freemantle House, were put on sale by tender with a closing date of 9th March 2012. There were no bids for these properties.

2. Eight terraced residential properties at Europa Point, St Christopher’s Court 37
Europa Flats, were put on sale by tender with a closing date of 5th April 2012. There were 73 bids for these properties. The Government will be allocating these properties to the highest bidders in each case taking into account their respective preferences. The names of the successful tenderers and the amounts bid will be published in due course.

3. Thirteen terraced houses at Buena Vista Estate – The Ramps are now on the market for sale by tender with a closing date of Friday 4th May.

Commenting on the matter, the Deputy Chief Minister Dr Joseph Garcia explained:

“The agreement of July 2011 between the previous administration and the Ministry of Defence was described at the time as being self-financing. This means that the Gibraltar Government would relocate and re-provide Ministry of Defence requirements from the funds raised by the sale of these and other properties. There are therefore certain targets which need to be met in order to provide the funding for this process.

The expenditure of the Gibraltar Government in relation to MOD re-provisioning works is set at a maximum of £66 million. It was expected that more than this would be raised from land and property sales, although this is obviously dependent on the state of the market, on the accessibility to mortgages and on some interested parties being able to sell before they can buy.”

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Government invites tenders for ex-MOD residential properties

exMOD Government invites properties residential tenders



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