Waterstone Realty Limited has sued the Lands Commission over the demolition of a two-storey multipurpose building which was at the designated location for the National Cathedral project.
The plaintiff, a Real Estate agency, in its writ of summons, said the defendant, the Lands Commission in 2018 compulsorily possessed and demolished its apartment.
They are, therefore, demanding USD$ 4,721,000.00 being the market value of the two-storey multipurpose structure from the Lands Commission over the demolition exercise.
Waterstone Realty Limited is also demanding the following amounts to be paid as damages:
“The defendant to pay the plaintiff the sum of USD$995,508.52 being the difference in terms of the established market value of the plaintiff’s property on the land being the sum of USD$4,721,000.00 and the actual value of the property as of May 2018 when the defendant repossessed the property being the value of the two-storey multipurpose building.”
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The damages sought include an amount of $54,000 to be paid as a loss of rent.
In addition, Waterstone wants an interest in the above sums from the first day of June 2018.
