Leases for the retail units at the new Royal Watler Cruise Terminal in George Town should be signed in a few weeks after much delay with the process.
Chief Valuation Officer with Lands & Survey Nigel Bates said Tuesday morning that tenants have been identified for all 19 units.
Mr. Bates said that negotiations are ongoing and leases should be signed very shortly, in a few weeks.
There has been much delay surrounding the signing of leases for the retail units at the terminal. The units had been completed early this year and it was expected that they would be operational for business by summer, but the leases have yet to be signed. Once this happens the units must be fitted out by the tenants themselves, which could take a few more months.
Mr. Bates explained that basically the leases could not be signed until the Port Authority got the Certificate of Occupancy, which it received last week.
Another factor in the delay was the fact that the Board of Directors of the Port Authority had some issues to consider for the future of the cruise terminal, he said.
But he denied that the pending court cases involving individuals who claim retail space was designated to them from the previous Port Authority Chairman McKeeva Bush has been a factor in the delay.
Port Authority Director Paul Hurlston had not been reached by press time for his comment on reasons for the delay in getting leases signed.
He had previously cited a reason as getting certain aspects of the buildings ready for the fire inspection to be done.
Twelve of the units are in the main building, seven on the ground floor and four on the second floor. In addition there are seven self-contained kiosks outside of the main retail building.
The role of the Lands and Survey office is to recommend tenants for the units to the Port Authority.
There is a good mix of different types of tenants in the units, he explained.
‘We don’t want to have competition amongst the tenants in the development,’ he said.
Type of stores at the terminal will include jewellery and cosmetics, local crafts, an internet café, a restaurant, and a liquor store.
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