GTH corporate head office up for lease in preparation for private takeover
The corporate offices of the troubled Global Transportation Hub (GTH) are available for lease at a cost of $12.25 per square foot, a price the realtor calls a bargain and, "lower asking rent than comparable office space."
The GTH is a government-run transportation logistics hub on the west side of Regina. It's deep in debt and has failed to sell any land for the last two years.
In addition, the organization has been awash in controversy over a series of land transactions.
The minister responsible for the GTH, Don Morgan, said the approximately six staff who still work there no longer need the 9,693 square feet of space, which includes a boardroom, kitchen, mezzanine and a raft of offices.
Morgan said the staff "indicated there would be some significant cost savings because the space isn't being used to the full extent."
If the GTH can find a company to take on the lease, the minister says there's a "good chance" the remaining GTH staff will relocate to the somewhere in the city of Regina.
'Turn it over to the private sector'
Earlier this year, Morgan said it had been a mistake for the government to get into this business in the first place and announced it was planning to get out.
In an interview this week, he said the government is preparing to "turn it over to the private sector."
In March, the government put out a request for proposals (RFP) looking for a private company to administer the GTH, market the remaining land and develop the property.
According to the government's plan laid out in the RFP documents, it is now in the midst of evaluating the proposals that have come in. The selection of the winning bidder is expected this fall.
The 'failure of this grandiose idea'
The NDP's Cathy Sproule said that for years the government touted the GTH as its most important economic development project. It was also a key impetus for the Regina bypass project.
"This was the best thing since the railway in the history of Saskatchewan and just that overblown sort of bravado," Sproule said. Now, she said, we are witnessing the "failure of this grandiose idea."
On top of attempting to unload it's office space, the GTH also recently announced it's selling its digital highway sign.
It has also eliminated the positions of Chief Financial Officer and Director of Communications over the past few months.
Sproule said she is worried about what the future holds for Saskatchewan taxpayers, despite the cost savings.
"What is this private company going to cost us?" she asked.
