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P&R Plaza: 26 shops to be auctioned on 31st

LAHORE, March 27: As many as 26 shops at the lower ground floor, besides the space for a restaurant at the first floor of the Park & Ride Plaza on Gulberg`s Main Boulevard will be sold through an open auction on March 31.

Some 13 ground-floor shops of the plaza had already been sold for Rs211.45 million against the reserve price of Rs185.3 million in an open auction on Jan 26, said a spokesman on Sunday.

People interested in taking part in the auction will have to deposit reserve price of Rs1 million for each shop and Rs3.5 million for restaurant in cash or through a pay order in the name of Lahore Development Authority, either with any branch or the booth of the Bank of Punjab set up at the site.

The auction proceedings will start at 10am by an LDA committee in the presence of media representatives to make the process `transparent`. Services of Messrs Collier International have been acquired for marketing.

Spreading over three kanals, the 11-floor structure adjacent to the United Christian Hospital has been constructed at a cost of Rs677 million in one-and-a-half years time and has a capacity of providing parking facility to 308 cars at a time.

As many as 80 shops have been built in the plaza`s basement, ground and first floor, along with two restaurants on the first floor as well as at the rooftop.

The plaza also offers facilities for the handicapped visitors by providing space for their vehicles close to the stairs and elevator cores, having a direct path to key movement patterns of the garage.

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