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1240/5(6403)
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY SENATOR B.E. SHENTON
ANSWER TO BE TABLED ON TUESDAY 5th JULY 2011
Question
Could the Minister identify the total amount of rent and/or income received in respect of the Radisson Hotel site by The Waterfront Enterprise Board Limited (now States of Jersey Development Company) in respect of the years 2008, 2009 and 2010?
Answer
The lease of the hotel site was granted from the Waterfront Enterprise Board Limited to the Jersey Waterfront Hotel Holding Limited. The lease went through the Royal Court and is a public registered document. Schedule 3 of this lease sets out that WEB will receive a percentage of room turnover on the following basis:- 0% in 1st year of trading, 1% in 2nd year of trading, 2% in 3rd year of trading and 3% every year thereafter.
The detailed information requested is confidential to the contractual parties at the time, is commercially sensitive and unfortunately not available for publication. The Minister would, of course, be prepared to disclose the details to a properly constituted Scrutiny Panel in accordance with a standard confidentiality agreement.