Proposed Ground Lease - General Aviation Precinct Busselton Margaret River Airport

Published on Thursday, 18 April 2024 at 2:01:31 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: Approx. 1485m2 on Lot 1974, DP 411016, 86 Neville Hyder Drive, Busselton
  1. Details of Disposition:

(a)          Tenant:  Mader Valley Investments Pty Ltd (ACN 664 070 231).

(b)          Consideration: The rent is $14m² per annum (excluding GST and outgoings) with CPI rent reviews on each anniversary and Market Rent reviews every 5 years. 
               A rent free period during construction to a maximum 18 months.

(c)          Lease Term:  Initial 21 year term with an option for a further 21 year term.

(d)          Market Rent Value: range $14m² to $16m² per annum (exclusive of GST and outgoings) valuation dated 18 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 

 

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