Netley Commercial Park

In reply to Ms CHAPMAN (Bragg—Deputy Leader of the Opposition) (23 July 2014). (Estimates Committee B)

The Hon. S.C. MULLIGHAN (Lee—Minister for Transport and Infrastructure, Minister Assisting the Minister for Planning, Minister Assisting the Minister for Housing and Urban Development): I have been advised of the following in relation to the lease back of Netley Commercial Park:

Term of Lease: 10 years and 1 day

Commencement: 10 June 2014

Expiry: 10 June 2024

Rights of renewal: 2 terms of 7 years

Rent reviews: fixed annual reviews 3%

Annual rent: $3.8 million

Premises: whole of the land

Other tenant outgoings:

all electricity;

all waste removal;

all cleaning of premises;

all internal maintenance;

pest control; and

security, including perimeter.