Major Land Transation
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Published on 18 November 2019
Statewide and local public notice is given in accordance with Section 3.59(4) of the Local Government Act 1995 that the City of Busselton proposes to enter into a major land transaction by way of a sublease described below.
1. Property details:
Lot 600, Foreshore Parade, Busselton (being a portion of Lot 503 within Crown Reserve 38558 on Deposited Plan 402933) area approximately 3,685m2 (building envelope hotel building – approximately 2,265m2 and hotel carpark area approximately 1,420m2).
2. Sublease details:
a) Parties:
Head Lessor: State of WA Sub Lessor: City of Busselton Sub Lessee: Pacifica Hotels Holdings Pty Ltd (ACN 628 236 108)b) Consideration: $105,000 per annum plus GST with annual CPI review and 5 yearly market rent reviews. Rent will be phased in as follows:
Year 1 - $100 + GST Year 2 - $25,000 + GST Year 3 - $50,000 + GST Year 4 - $75,000 + GST Year 5 - $105,000 + GST Year 6 and onwards – Previous year’s rent as adjusted in accordance with the sublease.c) Lease term: 35 years with a further 30 year option.
d) Market rent value of the property:
$100,000 per annum plus GST for the portion of land to be used for the hotel building $5,000 per annum plus GST for the hotel carpark.3. Further information
The City of Busselton prepared a business plan that includes an overall assessment of the proposed land transaction and sublease. A copy of the business plan may be inspected or obtained from the City of Busselton, 2 Southern Drive, Busselton, WA 6280 or on the City’s website https://www.busselton.wa.gov.au/City-of-Busselton
4. Invitation for public submissions
If any person should wish to make a submission in relation to the proposed land transaction, they are invited to make it in writing or by email, clearly marked “Submission – Hotel Site 2 Development” and:
Deliver it by hand at the City of Busselton Administration Building, 2 Southern Drive, Busselton, WA 6280; or Send it by pre-paid post to the City of Busselton, Locked Bag 1 Busselton WA 6280; or Sent by email to [email protected]5. Closing date for public submissions
All public submissions are to be made and received by the City of Busselton before 4 pm on 10 January 2020.
MIKE ARCHER
CHIEF EXECUTIVE OFFICER