New retail units at port up for offer

Main building at the Royal Watler Cruise Ship Terminal
under construction.

Thursday, December 8, 2005

The Port Authority of the Cayman Islands is now inviting applications to lease the retail units at the Royal Watler Cruise Terminal, which are expected to be ready for occupancy by Spring 2006.

In order to contribute to a thriving and diverse retail environment, a variety of tourism-related businesses are invited to submit bids. With cruise ship arrivals often exceeding 150,000 visitors per month, these retail spaces promise to be much sought after.

“We are interested in talking to all interested business owners about their plans and giving them information about this excellent location,” said Iain Franklin from the Valuation Office.

Applications should be handed in by 13 January 2006 to the Chief Valuation Officer at the Department of Lands and Survey, which is handling all leasing arrangements on behalf of the Port Authority.

Businesses will sign a lease for a minimum term of five years with a renewal option.

Each application will be evaluated on its own merits and selection will be based on the information supplied, suitability of the applicant, and specific requirements as outlined by the Port Authority.

These requirements include ensuring that businesses are Caymanian-owned and tourism-related. Businesses should also demonstrate the ability to cover all property related costs through their business plan and prove they can provide suitable bank, personal, and trade references.

The terminal comprises 19 retail units in total with 12 of these in the main building. On the ground floor of the main building there are seven units ranging in size from 482 square feet to 807 square feet.

On the second floor there are four units, each with an area of 373 square feet, and a unit of 2,967 square feet which would be suitable for a restaurant. In addition, there are seven self-contained kiosks outside with an area of 205 square feet each.

Enquiries from smaller-scale vendors and stall operators are also invited so as to gauge interest in the location.

Information packs are available now at Department of Lands and Survey, Second Floor, Cayman Corporate Centre, Hospital Road, George Town or online at www.caymanlandinfo.ky

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