A new tenant has been found to operate The Royal, building owner Luke Menkes confirmed Friday.
The popular Baker Street music venue hasn’t been open regular hours since the previous tenants — Paul Hinrichs and Howie Ross — cleared out this past April when their lease-to-own arrangement expired and they were unable to come up with the money to purchase the venue.
Menkes, who lives in Kelowna, ultimately hopes to sell The Royal and has worked out a similar deal with the new tenant as he had with Hinrichs and Ross — after a period of leasing the property, the tenant have the option to take it over completely.
“We have made good progress with the necessary paperwork and other actions required to get the liquor license reinstated, and there is still work to be done on that front,” Menkes explained.
No firm date has been set for when the new tenant will open the doors.
“We have begun planning to renovate and repair broken equipment. This work will be starting in earnest within the next two weeks,” adds Menkes.
He said the new tenant is moving here from Langley and a formal announcement to introduce him will be made in due course.
Menkes operated The Royal as a liquor primary establishment from 2009 to 2011 and said the new tenant plans to carry on that tradition.
“It will be open for lunch, dinner, concerts, relaxing and socializing; everything the room is perfect for,” Menkes said. “The new tenant is experienced and well funded, loves what we’ve created starting in 2009, and has committed to carrying on the tradition.”