The interim administration has terminated the 20 year tenancy agreement for the newly constructed Kadavu House.
Representatives of Kadavu Holdings Limited led by Manager, Ratu Sela Nanovo met with the Interim Attorney General, Aiyaz Sayed-Khaiyum about issues relating to the tenancy agreement between the government and Kadavu Holdings for the tenancy of Kadavu House.
It has been confirmed that yesterday the interim government gave notice under the tenancy agreement to end the tenancy from 1st January this year.
Speaking to Fijivillage, Ratu Sela said the board of Kadavu Holdings welcomes and endorses the amicable solution reached.
Ratu Sela confirmed that under the agreement the interim government will pay outstanding rent for January to June 2008 which amounts to almost 1 million dollars.
Kadavu House has been empty since last year. The 20 year agreement stated that the rent to be paid by the government would be $25 per square foot. However the interim government wanted the rental to be reduced to $14 per square foot. This was not agreed to by Kadavu Holdings and the final decision was made to end the tenancy agreement for the benefit of both parties.
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Kadavu House Tenancy Agreement Terminated
