Proposed Commercial Lease - Old Tennis Club

Published on Thursday, 18 April 2024 at 1:54:12 PM

PUBLIC NOTICE that the City has received a proposal and is considering disposing of this property, by way of lease, made under the Local Government Act 1995, Section 3.58 (3) and (4):

1. Description of Property: whole of Lot 448, DP 193977, 25 Marine Terrace Busselton
   
   
2. Details of Disposition:

(a)          Tenant:  Left Coast Chocolate Pty Ltd (ACN 676 086 990).

(b)          Consideration: Rent (excluding GST and outgoings)

                Year 1 $100

                Year 2 $16,250

                Year 3 $32,500

                Year 4 $48,750

                Year 5 $65,000 (subject to market rent review)

                Year 6 and onwards annually previous years rent reviewed by CPI and market reviews every 5 years

(c)          Lease Term:  30 years (less one day)

(d)          Market Rent Value: $75,000 per annum (exclusive of GST and outgoings) valuation dated 16 January 2024.

Submissions are invited in relation to the proposed disposition, to be made in writing to the City of Busselton, Locked Bag 1, Busselton WA 6280
by close of business on 10 May 2024.

For detailed information about the proposal see minutes of Council meeting dated 17 April 2024 on the City website Minutes and Agendas » City of Busselton