Financial Times

Bank of Ceylon to sell its WTC space
The Bank of Ceylon is offering, for outright purchase 11 floors that it owns in the World Trade Centre in Colombo, as it's too expensive to maintain them.

"We get rent from the BOI but its still not economical," an official said. The Bank last week advertised its properties in the newspapers offering the ground floor and mezzanine floors which are vacant, and nine other floors currently occupied by the BOI.

It said the occupied floors were being offered along with the tenants, meaning any buyer can retain the tenancy agreement and continue with the current tenants if desired.

The floors were acquired by the Bank in a swop with the owners of the WTC who had taken a loan from the Bank. The swop was done about two years ago and the value of the 11 floors at that time was over US$13 million.

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