The new lease holder will collect rent from businesses on the site

The company that owns the lease for the Waterfront Centre, CTP Limited, says it has been approached by groups interested in buying the lease for the publicly-owned land.

CTP, which built the centre, owns the 150-year lease for the land, for which it paid the States a lump sum and pays an annual rent.

But the company's director, Keith McCormack, says good market conditions means the company will try to sell the lease.

Collect rent

The Waterfront Centre comprises of a cinema, restaurants, bars and the swimming pool.

Mr McCormack said, as developers, CTP does not normally hang on to projects once they are completed.

Whoever buys the lease will not own the land. It will still be owned by the public, but the new lease holder will be able to collect rent from the businesses on the site.

The Finance and Economics Committee is advising the States not to buy the land, saying it is against the government's policy on investments.