Expressions of Interest - Disposal of Property by way of Lease 331 Stirling Highway, Claremont

⁠⁠⁠Site Details:

The Town acquired the Site in January 2011.

The Site comprises 2,389m² and holds a key position within the Town Centre, abutting Stirling Highway. The Building Area comprises 750m².

The Site also includes an adjacent carpark which comprises 54 car bays. These bays are free timed parking.

The car bays are not intended to form part of the lease. If car bays are sought for exclusive use, please specify how many car bays are requested and the applicable rent payable (separate to the rent for the building).

The building consists of:

• Main floor

• Offices on the mezzanine floor

• Warehouse area

The Site is located within the Town Centre zone under the Town of Claremont Local Planning Scheme No. 3.

Permitted uses within this zone include, but are not limited to, retail store, consulting room, day care centre, dry cleaning premises, restaurant.

Terms of the Proposed Lease

Council Policy PE402 Leasing of Facilities (Annexure 2) guides the Town in negotiating a lease.

The terms of the lease are proposed to include:

• A term of 5 years with the option of a 5 year extension.

• The lessee to be required to fund the repairs to the building.

• Annual CPI rent reviews.

• Market rent review at the end of the term (if option terms are sought).

• The tenant to be responsible for payment of outgoings.

Outgoings may include but not be limited to: all utilities, rates, taxes, building insurance, pest control, general maintenance including air conditioning, RCD testing, security, tagging and testing etc.

• 3 month bank guarantee will be required and/or personal guarantees.

• The legal costs of a preparing a lease shall be borne by the lessee save for where the lease is subject to the Commercial Tenancy (Retail Shops) Agreements Act 1987.