THA acquires Pigeon Point estate

THE Pigeon Point Estate in Tobago has been acquired by the Tobago House of Assembly (THA) through a “private treaty” agreement with the property owners Ansa McAl. This brings to an end the long-standing impasse between the property owners and the THA over access to and use of the prime beachfront property. The agreement document giving effect to the “acquisition by private treaty” of the estate was signed between President George Maxwell Richards and Robinson Crusoe Limited (RCL) on Wednesday. The agreement and related measures are to take effect within 120 days. The announcement was made by THA Chief Secretary Orville London at a press briefing at his office in Scarborough on Friday.

He gave no indication of the price tag involved, saying he was unaware of the figure and even if he did he could not reveal it at this time. London told reporters: “I am relieved that the impasse over Pigeon Point has been resolved, and all the necessary arrangements have been made; the legal and administrative process has been finalised, the documents have been prepared and signed, and we can say with confidence that as of yesterday (Thursday) morning the acquisition of Pigeon Point Estate, the entire estate, has now become a reality.” He explained there were two options available to the State — ‘compulsory acquisition’ or ‘acquisition by private treaty’. With compulsory acquisition, the THA would have been compelled, even 50 years down the road, to utilise the property according to the reasons outlined, and therefore it was strongly advised that ‘acquisition by private treaty’ was the best way to go, he said. Quoting from the Cabinet Minute dated July 1 which outlined the settlement, London stated: “In an attempt to expedite the resolution of the matter, the Attorney General had proposed and (RCL) has agreed to a negotiated settlement. Cabinet agreed to Pigeon Point being acquired by the State by private treaty.

The sale price be the median, if any, of two valuations done by two local valuators chosen by agreement of the parties.” London explained: “In other words, you select two private valuators; they will give their independent valuations, and you agree up front that the price would be the median, if any, between the two prices given by the two private valuators.” The idea, he said, was to ensure that you don’t create any problems that would take the matter back to court. The agreement further outlines that “payment in respect of the acquisition be settled within 120 days of receipt of the valuations, and the taxed cost of the failed constitution motion (that had been brought by RCL following the THA move to acquire) be deducted from the sale price.” This means that whatever sum of money RCL has to pay the State because of its (RCL) failed constitutional motion, should be deducted from any sale price agreed upon.