No Sale: Court Street Vacant Lot Auction

April 1, 2010

This afternoon [Mar 31] an auction was held for Lot #16 located on the corner of Court Street and Angle Street, Hamilton. The lot size is 50ft by 61ft for a total of 3,050 sq feet. The property was being auctioned off by the Bank of Bermuda, and the auctioneer was Leonard Gibbons.

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The requested opening bid was $400,000, with an $875,000 reserve price. There appeared to be four interested persons, including at least one condo developer. The auction resulted in one bid of $400,000 which was not accepted as it was well under the reserve price, resulting in no sale.

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Bernews understand the lot has been vacant for many years, possibly decades.

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