Public Notice - Proposed Lease Agreement

Proposed disposal of property under Section 3.58 (3) of the Local Government Act 1995.

Property Concerned: Sublease of 25 (Lot 306) and parts of 21 Riverside Drive, Point Fraser, East Perth, and which comprise the 'On the Point' development, legally described as:

Whole of Lot 306 on Deposited Plan 47251 being the whole of the land in Certificate of Crown Land Title Volume LR3140 Folio 966, and those parts of the following Lots on which the 'On the Point' development has been constructed:

(a) Lot 303 on Deposited Plan 47087 being the land in Certificate of Crown Land Title Volume LR3136 Folio 945, as to 1m2 only;
(b) Lot 305 on Deposited Plan 47251 being the land in Certificate of Crown Land Title Volume LR3140 Folio 965, as to 225m2 only; and
(c) Lot 307 on Deposited Plan 47251 being the land in Certificate of Crown Land Title Volume LR3140 Folio 967, as to 186m2 only,
and a plan of the property concerned may be inspected or obtained at perth.wa.gov.au/public-notice or by contacting the City's Commerical Property Unit on 9461 3265.

Market Value: Net Rental $128,000.00 per annum excluding GST for the Leased Area
Parties Concerned: City Foreshore Investments Pty Ltd (ACN 063 467 818) as trustee of the Foreshore Development Trust (ABN 73 530 280 202).
Term: An initial term of 25 years with a 25 year option
Consideration: Net Rental $128,000.00 per annum excluding GST

Download the Survey plan with encroachments

Anyone wishing to make a submission concerning this disposition is invited to do so in writing to the City of Perth by 4.00pm, 12th October 2023. Submissions should be marked with the above Property Concerned details and addressed to the Chief Executive Officer, City of Perth, GPO Box C120, PERTH WA 6839 or emailed to info@cityofperth.wa.gov.au.