Gov’t enters 6 more lease agreements, to spend $500K on relocation costs

Government has entered into six additional lease agreements for rental accommodations for 14 ministries and departments who are relocating from the RT O’Neal Administrative Building to facilitate repairs to the facility.

This is according to a report from Cabinet’s November 7 meeting, which said a half-a-million dollars will be spent on moving costs.

The post-Cabinet report listed the entities leasing the office spaces to government as Manuel Reef Marina Limited, Skelton Baylot Limited/Skelton Properties Limited, Harvey and Delker Herbert, Lake Development Co Ltd, Rita Frett Georges, and Burhym Electrical Services Limited.

Lease agreements details

For the Manuel Reef Marina Limited lease agreement, government will be occupying office space on the second floor of the Manuel Reef Marina Building for two years. That space measures 2,394 square feet and is being leased at $30 per square foot. The post Cabinet statement did not specify whether this rate is monthly or yearly.

The agreement between Skelton Baylot Limited is for an office space measuring 4,900 square feet at the rate of $21 per square foot. Government will also be required to pay and an additional service fee of $50 per month. The $21 per square foot rate was also not specified as a monthly or yearly expense.

Meanwhile, Harvey and Delker Herbert will be leasing two offices each measuring 2,421 square feet for two years. They will be on the second and third floors of Building #1 of the RG Hodge Plaza and will be leased at a rate of $3,600 per month, per floor. 

More space rented at Cutlass Tower

The Lake Development Co Ltd agreement will see government acquiring office space on the second floor of the Cutlass Tower building for two years. That office measures 3,067 square feet and will be rented to government for $38 per square foot. Government will also be required to pay an additional monthly service fee of $4.25 per square foot.

The fifth lease agreement is with Rita Frett Georges who is offering an 11,696 square foot space at RFG Place for a duration of five years. The agreed lease rate is $35 per square foot.

The final lease agreement is for two offices within the Burhym Building for a two-year period. It includes the ground floor which measures 1,438 square feet and the first floor which comprises 3,259 square feet of space. The agreed rate for each space is $34 per square foot. 

Standby Landlords

In addition to the agreed leases, Cabinet also decided to consider two additional landlords in the event that more office space is needed.

These additional landlords are Raphael Stoutt who is renting his office space of 2,960 square feet at $30 per square foot, and Island Block Corporation Ltd who is offering a 3,000 square-foot space at $35 per square foot. 

More monies approved

According to the post-Cabinet report, government “agreed that the sum of $380,000 be approved for rent costs for 2019 and that the sum of $500,000 be approved for relocation costs.

Only last month, Cabinet approved more than $1.2 million for a five- and three-year lease agreement with Lake Development Co. Ltd to relocate the Office of the Premier to the Cutlass Tower building in Road Town

Premier Andrew Fahie made it clear that his government was not involved in selecting the location or negotiating the terms of the lease and said it was a necessary move to accommodate the repairs of the admin building.