Monday, June 18, 2018
A message from Waterfront Development:
We wanted to provide you with an update on the divestiture process for Digby Pines Golf Resort and Spa.
In 2016, the Province engaged Waterfront Development to manage the process to divest of Digby Pines and Liscombe Lodge, given our expertise in real estate development. A Request for Proposals (RFP) was issued in August 2016 for each property.
Although extensive and constructive negotiations took place for Digby Pines, an agreement was not reached. Given the time elapsed since the original RFP, and market conditions, the decision has been made to cancel the RFP and move to procure a real estate brokerage to assist in an expedited, competitive process to achieve a sale.
A qualified brokerage will actively seek prospective buyers. This approach allows us the flexibility to take advantage of potential new interest in the market and a growing tourism sector, in a more flexible, less onerous process. Our objective remains to achieve a divestiture that is good value for the taxpayers and the community, and that the new plans for the property have a strong likelihood of success. Digby Pines is an important employer, destination and contributor to the community. We are committed to achieving this divestiture to support the inclusive economic growth goal of the Province.
We have issued an RFP for a real estate brokerage. The selected brokerage will support the process to find qualified buyers with a vision that aligns with the province’s objectives, and assist in negotiating offers to purchase. The target period to attract interest is six weeks. The flexibility in this process will allow us to move forward more quickly to bring a recommendation for divestiture forward.
Negotiations continue with a proponent on Liscombe Lodge. Until negotiations are complete and an approved agreement is reached, or negotiations cease, specific details will not be released.
Both Digby Pines and Liscombe Lodge have experienced year-over-year revenue growth since 2015. The Government of Nova Scotia will continue to own, operate and maintain the properties until agreements are reached with suitable buyers. New Castle Hotels and Resorts will continue to operate both resorts on behalf of the Province.
Thank you,
The Waterfront Development Team