Providenciales, Turks and Caicos Islands - Wednesday, 22 April 2026: The Turks and Caicos Islands Government confirms that the acquisition of the Temple Trust Building in Providenciales followed the established procedures to ensure transparency, value for money and full compliance with the law.
The acquisition formed part of a broader proposal, involving four adjacent parcels of land, in line with Government requirements.
In March 2025, the Ministry of Physical Planning and Infrastructure Development, in consultation with the Attorney General’s Chambers (AGC) and the Ministry of Finance prepared advice for Cabinet, supported by a Government valuation.
Cabinet considered the matter and granted approval to proceed with the acquisition and retrofitting of the building to provide office accommodation for the Offices of the Premier & Public Policy and the Deputy Premier.
Cabinet approved the proposed purchase price of $6,150,000.00, which was within the Goverment valuation, noting that the Government would acquire the building “as is” and assume responsibility for any necessary repairs.
Following the vendor’s refusal of the initial offer, a counteroffer of $6,450,000.00 was received in late March 2025. This revised figure included approximately $300,000.00 in furniture, fixtures and fittings. The land purchase remained within the upper limit of the Government’s valuation.
The Cabinet gave further consideration to the matter on 31 March 2025, and granted approval for the acquisition at the revised price of $6,450,000.00.
In line with required procedures, the Cabinet ensured that all potential conflicts were openly declared and addressed, and requested further due diligence regarding ownership of the adjacent parcels. Subsequent verification confirmed the ultimate beneficial ownership of all of the properties.
The Agreement was fully executed in July 2025, with revised terms subsequently agreed to accommodate adjusted timelines.
Completion took place on 1 October 2025. The transfer was formally executed and registered on 7 October 2025.
The Government confirms that the final purchase price was in line with valuation advice provided by the Valuation Department and negotiation range, and that the processes undertaken adhered to all required governance, legal and procedural standards.