Disgruntled Pier Park tenants allegedly seeking meeting with Premier
Reports reaching our newsroom are that tenants are unhappy that they are being asked to pay rent in full from this month, March 2021.
Virgin Islands News Online reached out to Mr Lewis over the reports today, March 4, 2021, and he confirmed that tenants were indeed seeking to have an audience with the Premier.
Mr Lewis said “I was made to understand that a group of tenants who currently have leases in the Cyril B. Romney Tortola Pier Park (CBRTPP) are about to make representation to the Honourable Premier and I would like to ensure that in the interest of fairness I get the Pier Park side of the story out.”
Tenants had concerns addressed before – TPP CEP
He said 2019 however, the TPP Board constituted with a sole director taking over the role of having oversight of the Pier Park operations, “The director met with each tenant, listened to their concerns and following these meetings the following were some to the actions,” he said.
He said that as a result of the meeting, Common Area Maintenance fees (CAM) were reduced to 3% from 5%, Rental rates were reduced in many cases by up to $5 per sq. ft and There was debt forgiveness on behalf of a number of tenants who were struggling following the hurricanes of 2017
Further, the management team commenced a public relations exercise with tenants to change the then perception that the park was only for cruise ship passengers, the park hours were extended, the range of products that Tenants were permitted to carry was expanded and that the Pier Park increased the number of events in an effort to bring more footfall to the facility
He said in 2019 and early 2020, the concessions were in excess of $100,000, before the COVID-19 pandemic.
$1.5M COVID-19 concessions were offered to tenants
Further, the CEO said that that recognising the impacts of COVID-19 and local economic challenges, rent discount for April 2020 was 100%, the rent for May through October 2020 was discounted by 75% and November 2020 through February 2021 rent saw a discount percentage of 50%.
He said the total concessions given to tenants for COVID-19 was $1.5M even as the facility strived to operate at international standards.
In reminding tenants that strong demand still exists for space at the facility, the TPP CEO said “I would like to say to all tenants who are considering leaving the CBRTPP that they can formally request to break."
More space for new tenants
“We will call applicants on file, so that they can give their landlords requisite notice. To my knowledge, no landlord in the territory has given such significant concessions and for the length of time that TPPL has,” he said.
He said locals who are operating elsewhere will now get an opportunity to operate at the CBRTPP, should the old tenants leave.
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28 Responses to “Disgruntled Pier Park tenants allegedly seeking meeting with Premier”
Was this his ultimate goal by raising the rent and now threatening the tenants? Hmmm.
other ports such as antigua..st martin who have a vastly larger local.population have given 100% free space to their existing tenants because they cant rely on their 80,000 + local population to generate enough i come to tide them through.
If Mr. Lewis wants to get his side out publically then maybe tenants should publish their letter also........it would be interesting reading i am sure.
this is between pier park...their tenants and now the Premier.....i think hes jumped the gun here........basically saying publically...we at tpp dont give a damn if teants want to leave...let them leave..we have plenty of people to fill the spaces.
a very one sided account and as i said...not very proffessional a d i am.suprised he has done this in this way.
we will see what happens
respectfully submitted
This article of less than 1 year old
Who or What to believe this days
Is the plan to kill the Cruise Tourism now?
if not, then 'when' the filled up ships and High Season returns, who will served them?
Is the Pier Park turning into a Business Park ?
Much to speculate.... with the new marihuana business in the developing stages too. Hmmmmm