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Originally Posted by LiquidTurbo
With the property that expensive, how do they make money?
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Have you looked at their prices lately??
But seriously... as I recall, it's still Parks Board land, and Cactus just rents the space; the Parks Board was looking several years ago to put a high-end restaurant there, but had very specific requirements (had to fit in, be built to green standards, etc.), and Cactus won the bid
Here it is:
Cactus Club wins English Bay spot - British Columbia - CBC News
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The Vancouver Park Board, which manages the site for the city, is guaranteed nearly $250,000 a year in badly-needed cash from the operator once the new facility opens in the summer of 2011.
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And:
English Bay may see new cafe on old concession site | CTV British Columbia
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Revenue from the bistro will be $1.2 million over five years, which would come from the restaurant's set rent of $240,000 a year, according to a March 12 Vancouver Parks & Recreation report.
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