Auction Sale of Lease hold rights of a valuable property

The Property Mortgaged To Bank of Ceylon
By M/s Asian Lanka Shipping [Pvt] Limited at No. 34 and 34B, Frankfurt Place, Colombo 04 on Mortgage Bond No.2612 dated 19.12.2011 attested by Gayalalani De Alwis N.P. and Mortgage Bond No.82 dated 17.04.2012 attested by J.C. Mahaarachchi N.P.

We Shall Sell By Public Auction : On Thursday 25th May 2017, Commencing at 11.00 a. m. at the spot.

All that divided and defined allotment of land marked Lot 3A depicted in Plan No.4799 dated 19/12/1994 made by P Sinnathamby, Licensed Surveyor bearing Assessment No.34, Frankfort Place in Bambalapitiya in Milagiriya Ward No. 39, Colombo 04 situated within the Grama Niladari Division of Milagiriya and Divisional Secretariat Division of Thimbirigasyaya within the Municipal Council Limits and District of Colombo Western Province.

Containing in extent: A0: R0: P8.05
Together with the buildings, trees, plantations and everything else standing thereon according to the said Plan No.4799 and registered in A 1178/37 at the Land Registry, Colombo.

All that divided and defined allotment of land marked Lot 3B depicted in Plan No.4799 dated 19/12/1994 made by P Sinnathamby, Licensed Surveyor bearing Assessment No.34, Frankfort Place in Bambalapitiya in Milagiriya Ward No. 39, Colombo 04 situated within the Grama Niladari Division of Milagiriya aforesaid.

Containing in extent: A0: R0: P9.45
Together with the buildings, trees, plantations and everything else standing thereon according to the said Plan No.4799 and registered in A 1178/38 at the Land Registry, Colombo.

Which said allotments of lands are divided and defined portions from out of the land described below:-

All that divided and defined allotment of land marked Lot 11A3 depicted in Plan No.1031 dated 21/11/1968 made by A F Sameer, Licensed Surveyor bearing Assessment No.34, Frankfort Place in Bambalapitiya in Milagiriya Ward No.39, Colombo 04 situated within the Grama Niladari Division of Milagiriya aforesaid.

Containing in extent: A0: R0: P17.35
Together with the buildings, trees, plantations and everything else standing thereon according to the said Plan No.1031 and registered in A 928/127 at the Land Registry, Colombo.


The Successful purchaser will have to pay the following amounts in cash at the fall of the hammer.

1. 10% (Ten Percent) of the Purchased Price.
2. 2% NBT on the Purchased Price
3. 15% VAT on the Purchased Price.
4. 1% (One Percent) of the purchased price as sales taxes payable to the Local Authority.
5. Auctioneer’s Commission of 2 ½ % (Two and a half percent only) on the purchased price plus applicable taxes on the commission.
6. Cost of sale and any other charges if any.
7. Further 10% of the Purchased Price will have to be paid within 30 days from the auction date.
8. Balance 80% of the Purchased Price is to be settled within three months from the date of sale to the Manager, Recovery Corporate Unit, Bank of Ceylon, 3rd Floor – BOC Head Office, Colombo 01.

Title deeds and any other reference may be obtained from The Manager, Recovery Corporate Unit, Bank of Ceylon, 3rd Floor – BOC Head Office, Colombo 01. Tel: 011 2386080

*The bank has the right to stay / cancel the above auction sale without prior notice

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50 perches of prime land within the Municipal Limits in a mix development area in an exclusive neighbourhood.
Commercial Credit & Finance PLC

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© Schokman & Samerawickreme (Pvt) Ltd. 2017