Sask. looking for private company to take over GTH headquarters lease
The Government of Saskatchewan is looking for a private company to take over the lease for the headquarters of the Global Transportation Hub.
“We’re looking for a property management company to do the day-to-day operations and either that company or another company would do the marketing,” Minister in charge of the GTH, Don Morgan, said. “We’ll look to sell it through ordinary commercial real estate channels.”
Since the province is looking to sell the land, the headquarters and 12 staff members are no longer necessary. The employees are invited to apply for other positions within the government.
“They signed a 15 year lease with just about $100 thousand a year in rent and they've done as far as we can tell over $1 million in leasehold improvements according to their 2015 annual report,” NDP MLA Cathy Sproule said. ”So again lofty hopes, big dreams out of the GTH and now it looks like they can't even afford to pay the rent."
Several private companies have expressed interest in the property.
The government hopes to have a company in place to take over the property sometime this summer.