Open auction of 54 shops at Liberty Plaza

The Siddiq Trade Center, one of the many moder...

The Siddiq Trade Center, one of the many modern upscale shopping centres in the city. (Photo credit: Wikipedia)

Lahore – Open auctions of the remaining 54 shops of Liberty Park and Ride Plaza, situated along Main Boulevard Gulberg, will be held on Tuesday (tomorrow) at LDA Community Centre, 239-A, New Muslim Town at 10.am.

As many as 15 lower-ground floor, 19 ground floor, and 20 first floor shops besides restaurants at first floor as well as on rooftop will be sold through open auction on this occasion.

The parties interested in participating in the auction will have to deposit as surety money Rs.10,00,000/- for each shop, Rs.35,00,000/- for the restaurant at Ist Floor and Rs.67,50,000/- for the rooftop restaurant in the form of cash/pay order  favouring LDA Car Parking Plaza, Liberty Market, Lahore  either before the date of the auction at the marketing office of Park & Ride Plaza, Liberty Market Gulberg or before the commencement of auction  at the National Bank of Pakistan’s booth at LDA’s Community Center located at 239-A, New Muslim Town Lahore.

This surety money shall however be refunded to the unsuccessful bidders on the next day of the auction. The highest bidder shall have to deposit 1/3rd of the cost of the shop or restaurant, inclusive of surety money, at the time of auction or within 7 days of auction in the form of cash/pay order favouring LDA Car Parking Plaza, Liberty Market, Gulberg, Lahore failing which the earnest money deposited shall be forfeited in favour of LDA Car Parking Plaza, Liberty Market, Gulberg, Lahore. The successful bidder shall have to deposit the 2/3rd balance cost of shop/restaurant within 30 days of the approval of his bid by the competent authority inclusive of holidays. However, the competent authority may allow 30 days extension in this time period provided the bidder submits an application within 7 days of the lapse of first 30 days and provides plausible justification for the delay. The shops/restaurants will be auctioned on “As is Where is” basis. The decision of the competent authority regarding acceptance or rejection of the offered bids would be final. The competent authority would make best possible efforts to take the decision regarding acceptance or rejection of the offered bids within 60 days. The remaining terms and conditions would be read aloud at the time of auction and the successful bidders would be bound to accept the same. The auction purchasers would also deposit the advance Tax & CVT as per Government policy.

Built at a cost of Rs.677 million, this 11 floors structure has been constructed on a 3.17 kanal land adjacent to UCH with entrances on all four sides. Besides facility of stand by generator, two capsule lifts have also been installed for facilitating the people visiting the plaza.

A total of 80 shops have been built in the basement, ground and first floors of this plaza along with two restaurants on the first floor as well as the rooftop of the structure. As many as 26 shops have already been auctioned in the plaza.

The plaza at Main Boulevard, Gulberg, has a capacity of providing parking facility for 308 cars per day.

Safety and Security of the people has been ensured in this structure. The design includes open stairwells and ramps, security devices such as road blockers, cars-canners, CCTV, public address system, fire alarm and fire fighting, audio and emergency buttons that call into the booth or local police station, elimination of potential hiding places, such as the under open stairs has also been arranged. Handicap accessibility has been facilitated with vehicles close to the stairs and elevator cores having a direct path to key movement patterns of the garage.

The auction proceedings will start at 10am by an LDA committee in the presence of media representatives to make the process transparent.

Source: http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/lahore/14-May-2012/open-auction-of-54-shops-at-liberty-plaza