Property for Sale
The Public Entity Saba offers for sale two parcels of land situated in Windwardside, namely nr. 54/1963 with an area of 845m2, as well as nr. 10/1990 with an area of 1887,5m2 — also known under the former name of ‘Captain’s Quarters”. The land is the sole property of the Public Entity and is free of debt or liens.
A preliminary phase will precede the sale of the property, consisting of a bidding process divided into two phases.
The Public Entity, by order of the CFT (College Financieel Toezicht) with reference to article 10 of the Finance Law Public Entities Bonaire, St. Eustatius, and Saba (Wet FinBES), has conducted three appraisals in order to comply with the therein referred to approved requirements. The sale price must meet the minimum value of the lowest appraisal.
The Public Entity Saba invites interested parties to make a bid on the aforementioned parcels of land.
The sale and preceding bidding process come with a number of conditions, including the following:
- Transfer of the property will be made by sales agreement. The sales agreement will be offered to the candidate who made the highest successful bid under the condition of award, which is at the sole discretion of the seller. In the sales agreement additional conditions may be placed on the development of the property by easement of other qualitative terms through registration or transfer provision, such depending on the development plans of the candidate. Development plans of the property may contain, exclusively, the following purposes: hotel and or restaurant, cultural or educational institution or dwelling;
- The parcels of land are sold jointly. Private individuals, as well as legal entities can make a bid before February 14, The bidding process does not allow a separate bid for one parcel. A joint bid, substantiated per parcel (if applicable by multiple bidders) for both parcels will be accepted;
- The bidding process is divided in two phases. In phase one of the bidding process, a bid must be made before February 14, 2015. The bid in phase one must be no less than 80% of the minimum value of the lowest appraisal. The bid must also qualify in terms of development plan, of which the qualification is to the discretion of the seller.
- At the end of phase one, the bids will be opened. Each bid will be examined to determine if it meets the minimum requirements and contains a suitable development plan. Seller has the only and full discretion to judge over the bids.
- In phase two of the bidding process, the bidder has the opportunity to raise his bid after learning if the bid in phase one has met the requirements. Only the bidders who made a bid in phase one can make a higher bid in phase two. Should a bidder not wish to make a higher bid, the bid in phase one will be honored as its ultimate bid;
- A bid in phase one is made through an application form, which can be obtained at the Office of the Island Secretary. Each bid must include the intended purpose for the property, as well as the price which the bidder is willing to pay. All bids are to be made in a sealed envelope addressed to the Public Entity Saba-Attn: Executive Council, and must further contain on the outside on the envelope, the name and address of the bidder and the following words: BID ON PROPERTY, Publication No.: 02;
- A bid in phase two is made through an application form. Article 6 applies integrally.
- At the end of phase two, all bids will be opened. The qualifying bids from phase one and two will be compared;
- Should a bid in phase two deviate from a bid by the same bidder in phase one, other than in a higher price, the bidder will be excluded from further participation in the bidding process in the preliminary phase of sale;
- A bid by a candidate will qualify as successful should the bid, in terms of both the intended purpose of the property and the price, meet the minimum requirements set by the Public Entity Saba as well as those deriving from the law (approval by the Minister of the Interior and Kingdom Relations — article 10 of the Wet FinBES, as currently mandated to CFT);
- A successful bid will be accepted when it is the highest bid in comparison to the other successful bids.
- At all times, the Public Entity Saba may halt or cancel the procedure or bidding process, to its own discretion. The Public Entity Saba will not be obliged to enter into an agreement of whatever kind, based on this procedure. By participating in the bidding process, the rules set forth in this announcement are accepted by participant and/or its affiliates.