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Real Estate News Releases
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(EstateNewsWire.com, November 13, 2012 ) Bicester, U.K -- A Shindico management contract was given a 90 day cancellation notice after the city council of Winnipeg determined the contract had been awarded unfairly. The contract was for the services of Shindico to manage a former Canadian Post tower, and the terms were in the range of $154,000 a year for the service.
The cancellation of the project came after city councillors concluded that the contract was given not based on management responsibilities, but rather on the sales and purchases of various Winnipeg area properties.
Shindico indicated to the media that their firing was out of the blue from their perspective and company president, Sandy Shindleman, said that the council had told them recently what a great job they had been doing managing the tower. The company also said they will not be attempting to regain the contract because no one is going to hire a contractor they just fired.
The city council has indicated that it is currently looking for a replacement property manager to manage the tower until it can be sold, which in this market, could take some time.
Shindico is also in management control of another city project dealing with the Dominion Bridge, and will keep control of it after city council member Russ Wyatt attempted to have that contract cancelled as well.
The cancellation has made many folks happy most notably Canadian Taxpayers Federation director in Manitoba, Colin Craig, who responded to the news saying that it was a long time coming, and that it now gives, “everyone a fair chance at work.”
The tower under contract was originally purchased for $29.25 million and had plans to undergo majors changes. Plans were to convert the Canadian Post building into a police station, among other things. With new management on the horizon, the city council of Winnipeg still plans on selling the building, but it is now anyone’s guess what will become of it.
Shindico will have 90 days to relinquish management duties.
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Source: EmailWire.Com 
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