Fiji TV continue negotiations with building owners

Fiji Television Limited is currently negotiating with the owner of Credit Union Towers as their deadline to vacate the building in Suva expired yesterday.

CEO of Fijian Holdings Limited which is the majority shareholder of Fiji TV, Nouzab Fareed, says that Fiji TV has agreed to part nicely and they have proposed an amicable exit plan.

Fareed confirms that they have asked for another 6 months before they leave the building.

Fiji TV announced last week that it has begun the process of looking for a new headquarters as the owner of the building in Suva has given them until this Sunday to vacate the office space.

This will see the country’s first commercial television station  moving out of its current 20 Gorrie Street location which it has  used as its headquarters since its establishment in 1994.

Based on an assessment, Fiji TV needs almost 6 months to move all it’s broadcasting and transmission gear to a new building.

We have received information that Fiji TV has not secured new office space as yet.

The three storey Credit Union Towers which currently houses Fiji TV is owned by the Fiji Public Service Credit Union. 

Fiji TV Chief Executive Officer, Geoffrey Smith says they were previously occupying five floors of the building however a recent major restructure of the television company has also resulted in  giving up three floors.

Fiji TV’s tenancy agreement with the Fiji Public Service Credit Union had also expired in 2008 but since then it had been paying rent on a roll over basis.

However a sudden spike in the commercial rent by at least 50 percent by the landlord has made it unsustainable for Fiji TV to continue renting there.

Smith says as a last resort they may seek a judicial review for a more reasonable timeline because of the scope of their operations inbuilt into the property.