The Town of Sidney has extended leases until the end of 2024 for the two businesses on the town’s historic Beacon Wharf, signalling there will be no changes to the wharf until at least 2025.
The leases for the Satellite Fish Market and Pier Bistro come with increased rents.
This year, the rent for the fish market will jump 25 per cent to $1,500 per month, and eventually to $1,900 a month in 2024. The Pier Bistro will see its rent increase 7.9 per cent this year to $2,158 and then to $2,300 per month in 2024.
Sidney’s council also voted to consider further lease renewals, depending on the outcome of a condition-assessment of the structure planned for 2023.
Last year, after years of vigorous debate in the community, Sidney opted to maintain the wharf rather than consider options to replace it.
An engineering report found that the wharf will need a massive investment to extend its life beyond 2028.
The wharf, which extends from the end of Beacon Avenue and houses a fish market, restaurant and lookout, has been a staple in the town for more than 100 years.
It had its last major renovation 60 years ago. Since Sidney took control of it from the federal government in 2006, it has spent more than $400,000 to make it safe.
Cost estimates for replacement range from $10 million to $17 million.
