GOVERNMENT PROPERTY AND REAL ESTATE MANAGEMENT

The Property and Real Estate Services Division (PRESD) is responsible for all government real estate, most specifically sale, acquisition and rental.

 

SALE OF GOVERNMENT PROPERTY TO PUBLIC OFFICERS AND THE PUBLIC

 

The Property and Real Estate Services Division (PRESD) is guided by the following Cabinet decisions when undertaking the sale of Government quarters:

  • Public officers who are eligible for Government quarters and who are in occupation of quarters with proper authority may be given first option to purchase the quarters, if Cabinet decides that it wishes to offer such property for sale.
  • Vacant, dilapidated quarters, including those vandalised and subject to unauthorised tenancies may be sold to the public, by public auction.
  • Among quarters that are NOT to be sold are President's House, St. Ann's and the official residences of the Prime Minister and Commissioner of Police.

LEASE OR RENTAL OF PRIVATE PROPERTY FOR GOVERNMENT USE

 

The following criteria are to be met:

  • Location and space appropriate for the intended use.
  • Deed or other proof of property ownership, including authority to act on behalf of the owner, where required.
  • Town and Country Planning Division approval for office use.
  • Certificate of Completion from the Municipal Corporation.
  • Agreement on an economic rental rate based on a property valuation from the Commissioner of Valuations or independent professional approved by the Commissioner of Valuations and commissioned by the Owner.

REQUIREMENTS FOR SALE OF QUARTERS

 

  • Site visit to determine suitability for sale.
  • Application to purchase from occupant
  • Proof of legal occupation Survey plan
  • Valuation report
  • Cabinet Minute approving the sale
  • Letter of offer
  • Letter of acceptance
  • 10% deposit on the purchase
  • Agreement for Sale Completion of sale within 90 days of the date of the Agreement for sale.

CONTACT PRESD

 

For further information please contact PRESD at :

  • CIC Building Level One
  • 122-124 Frederick Street
  • Port of Spain
  • Tel: (868) 623-4724.