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Legislative Council - Fifty-Fourth Parliament, Second Session (54-2)
2022-02-10 Daily Xml
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Lot Fourteen

The Hon. F. PANGALLO (14:49): I seek leave to make a brief explanation before asking a question of the Treasurer about Lot Fourteen tenants.

Leave granted.

The Hon. F. PANGALLO: As we know, there are a lot of untenanted buildings within the CBD, but going by recent announcements by the Premier his pet project, Lot Fourteen, is going gangbusters. This week, another big name tenant is moving in—tick, good. Salesforce is the latest to develop tools to gauge carbon emissions for industry. Lot Fourteen appears to be a place teeming with startups and unicorns. My question to the Treasurer is:

1. Has the government offered companies incentives, including subsidised and free rent?

2. How many are benefiting from the generous benevolence of the government with free or subsidised rent?

3. Are the rents at Lot Fourteen being collected under market rate commercial terms or are discounts being offered and applied?

4. How many and which companies are receiving free or subsidised terms?

5. Has the new addition, Salesforce, been offered free or subsidised rent?

The Hon. R.I. LUCAS (Treasurer) (14:50): I am not aware that companies like Salesforce and the others have been offered free rent at all. I know that the case for the new Entrepreneur and Innovation Centre (EIC)—which Quintessential Equity were the successful proponents in relation to that particular offering—the rent they are looking at for tenants to move into that particular building is market rental in relation to the buildings.

There are a range of buildings on that site. There are the old heritage buildings on Frome Road, as opposed to the whiz-bang brand-new redeveloped buildings that are going to be developed, so there will be a range of rental arrangements for those. The big companies that the honourable member is talking about, there is no way in the world they will be getting free rental. What the arrangements are for some of these startups where you've got a single-person startup trying to start a business—I'm not sure that's the substance of the honourable member's question anyway—I would need to take some advice on.

The responsibility for Lot Fourteen was delegated to the Premier a number of years ago and officers within the Premier's department, so I can certainly take some of the detail of the honourable member's question and see what information I may or may not be able to provide.

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