PNCR to sell Sophia land

The People’s National Congress Reform (PNCR) has struck a deal with a local company to sell two acres of its land around its Congress Place headquarters at Sophia for around $70 million.

According to a senior party member, who spoke on the condition of anonymity, the agreement was struck with local distributor Beepats.

The company declined to confirm that the transaction took place when contacted by this newspaper on Monday, and several party members were also tight-lipped on the details when asked.

PNCR Leader David Granger would only confirm that the transaction did indeed take place. He said that the matter was internal, and that the transaction was deliberated on by the Party’s Central Executive Committee before any decisions were made.

Granger also dismissed speculation that the deal was struck because the party is facing financial difficulties.

While a specific figure could not be ascertained, Stabroek News was informed that two acres of the party’s land has been sold to Beepats for around $70 million.

Amna Ally, an Executive member and the party, said “PNC’s business is PNC’s business” and added that the transaction is not a matter for discussion and not a matter for the media. Meanwhile, party Chairman Basil Williams said he could not make any pronouncements.

Another party member, who too requested anonymity, on Monday said that the deal was finalised earlier this year, pursuant to a decision that was made last year. The party member said that the transaction was a business move which was prompted after an offer was made to purchase the land.

The source said that the initial offer was $52 million and that the party successfully negotiated a higher price.

The source also knocked speculation that the move was made to fill financial holes. “It was a business move. The opportunity presented itself. You would have to be crazy to pass up an opportunity like that,” the party member told Stabroek News.

 

 

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