Waterstone Realty Ltd Sues Lands Commission For $4.7m Over National Cathedral Project

Waterstone Realty Limited, a real estate agency, has sued the Lands Commission for demolishing a two-storey multipurpose building complex located at the current site of the National Cathedral.

According to the estate company, the government undertook this unplanned exercise four years ago and has since refused to compensate the company for such a definitive decision.

The plaintiff, in its writ of summons, said the defendant, the Lands Commission, compulsorily possessed and demolished its apartment for the construction of the National Cathedral project in 2018.

In a lawsuit, Waterstone Realty Limited requested that the following monies be levied against the defendants.

“An order directed at the defendants to pay the plaintiff of the sum of USD$4,721,000.00 being the market value of the two-storey multipurpose building complex at the time of compulsory possession and demolition by Defendants.”

It also wants the court to ask “the defendants 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 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”.

Moreover, the plaintiff has charged the defendants to pay the amount of  USD$54,000 for damages caused to the company.

Waterstone Realty Limited has admonished the government to allocate and settle the estate company in vacant possession of land free of all encumbrances.