Saith: Govt rents total $84 million

The Government spends $84 million (including VAT) annually to rent out 140 buildings to house various ministries and departments.

This was disclosed by Minister of Public Administration and Information Senator Dr Lenny Saith in the Senate yesterday in reply to a question from Independent Senator Prof Ken Ramchand. Ramchand had asked about the number of buildings rented by the Government, and details such as usage, rent, address, ownership, and the date of the start of the lease/rental. Saith referred the Senate to a written document duly distributed to members. The document showed that the Government was renting 140 buildings at a total monthly rent of $6,131,546 plus VAT of $879,932, which translated to a gross annual rent of $84,137,749.

Ramchand remarked aloud: "Is the Minister aware that in some cases the monthly rental is such that one year's rental would be enough to purchase the building?" On the document the largest single rental was the Ministry of Science and Technology's head office and information division located at the corner of Agra and Patna Streets, St James, the 40,934 square feet being rented from NJ Nahous Investments at a rent of $350,000 per month plus $52,000 VAT, or $4.2M per year or $4.8M including VAT. This lease began on 1 January 2001.

The Custom and Excise Division head office at 70 Independence Square, Port-of-Spain, is being rented from Nicholas Development Limited for $246,600 per month plus VAT of $36,990. The lease for this 49,838 square feet began on 1 June 2001. Other costly premises are those of the Elections and Boundaries Commission head office, Frederick Street, being rented from Winfield H Scott for $174,139 per month plus $26,119 Vat, and the Inland Revenue Division at 82-84 Queen Street rented from Victoria Court Limited for $179,830 plus $26,974 VAT.