Harbour Authority Announces Potential New Tenants for Steamship Terminal

VICTORIA – After thorough screening and evaluation of a number of strong expressions of interest, Greater Victoria Harbour Authority (GVHA) is moving ahead on securing tenants for Levels 1 and 4 of the former CPR Steamship Terminal building on Victoria’s waterfront.
GVHA is pleased to announce that the following two applicants have been approached to develop full lease proposals:
• Riverside Marine —  a newly created BC company, part of a leading marine operator in Australia with nearly 90 years of expertise in marine tourism, transportation and services with a proposal to operate a new marine transportation passenger service between downtown Victoria and Vancouver.
• Ocean Networks Canada — an initiative of the University of Victoria that operates the world-leading NEPTUNE and VENUS cabled ocean observatories, with a proposal to operate a public outreach and visitor education centre.
“The Steamship Terminal is an icon of the Inner Harbour,” said GVHA CEO Ian Robertson. “We’re pleased to move forward on two strong and complementary proposals that will allow for the building to be fully tenanted and help to realize its potential as a regional hub for tourism, culture and economic development.”
If both lease proposals move forward, Riverside Marine would use Level 4 as an administrative office as well as part of Level 1 (“causeway level”) and the adjacent water lot for running their planned marine passenger service. Oceans Network Canada would occupy the remainder of the Level 1 space shared with Riverside Marine. Level 1 is approximately 6,000 square feet and Level 4 is 2,400 square feet.
“The interest generated in the Steamship Terminal highlights Victoria’s growing position as a leading centre of innovation,“ said City of Victoria Mayor Lisa Helps. “We’re pleased that the Harbour Authority is working with two new potential tenants—both world leaders in their respective fields of marine transportation and ocean research—in order to generate news jobs, expand tourism opportunities and enhance the public’s enjoyment of the city’s historic waterfront area.”
GVHA plans to accommodate and integrate both proposals with existing tenants at the Steamship Terminal pending a successful negotiation of mutually viable terms with all parties for lease agreements. GVHA will work closely with the two selected applicants in order develop lease proposals and conclude negotiations as quickly as possible.
In 2012, GVHA assumed the head lease of the Steamship Terminal from the Province of BC and has invested $2.7 million for renovations to revitalize the heritage building to date. A fully tenanted building is critical to allow GVHA to meet its ongoing head lease obligations with the Province, currently in excess of $400,000 annually.
Current tenants at the Steamship Terminal include Robert Bateman Centre, Steamship Grill and Bar and Starbucks.