Beautiful Virgin Islands

Tuesday, Jun 03, 2025

Pier Park tenants receive over $1M in rent concessions since April

Pier Park tenants receive over $1M in rent concessions since April

As part of the Virgin Islands Party (VIP) Government’s initiative to assist businesses affected by the global coronavirus pandemic, Tortola Pier Park Limited (TPPL) has been offering tenants heavy discounts on rent since April 2020, including up to 100%, according to Chief Executive Officer of TPPL, Mr Vance M. Lewis.

The discounts have so far amounted to over a million dollars, and tenants continue to benefit.

“It’s very challenging for us to do this but we recognise that it is part of the Government’s initiative to help businesses in the Territory and so we are playing our part,” Mr Lewis said at a press conference, today, October 8, 2020, at Cyril B. Romney Tortola Pier Park to announce the park’s partnership with VISAR to host its first ever Ice Skating Wonder Land at Cyril B. Romney Tortola Pier Park from November until January 6, 2021.


According to Chief Executive Officer of Tortola Pier Park Limited, Mr Vance M. Lewis, the discounts for tenants have so far amounted to over a million dollars.

100% discount on rent offered in April


Even the recently arrived tenants have been benefiting from the concessions, Mr Lewis stated, noting that the move is in accordance with the “Premier’s wishes and the Government’s wishes”.

“We have been working with the tenants to offer concessions on rent ever since the country first closed down around the end of March, “because we understand this is a difficult time for tenants and difficult time for everyone.”

“So far we have offered over one million dollars in rent concessions and we are going to continue working with then [tenants] for as long as possible.”

According to Mr Lewis, in some instances, a 100% discount on rent was offered in April, “because the country was closed down.”

Other businesses have seen over 75% discounts on rent.

“For those that were not cleared to open at all we have offered as much as 90 percent [discount on rent].”

He said the concessions are being given on a month by month basis.

There are currently 61 tenants at Cyril B. Romney Tortola Pier Park and, according to Mr lewis, there are about 10 to 11 empty spaces; however, a few of them have already been reserved.


Businesses at Cyril B. Romney Tortola Pier Park have been severely affected with the closure of the territory's ports and the ban on cruise tourism.

Demand for office space


And while some tenants packed up a left during the pandemic, others have come and are continue to come.

Mr Lewis disclosed that there is currently a demand for office space, with interests coming from a boat charter company and a taxi entity among other businesses.

“We have had query from the medical cannabis industry, it is not a firm application as yet…but these are the sort of things we are seeing.”

Meanwhile, the park’s new opening hours are 6:00am to 11:30pm.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×