Status of lease and licence portfolio (Council as landlord)
Council administers 88* agreements covering a variety of community and commercial tenancies. Our aim is to renew leases and licences ahead of their expiry. If they are not renewed they move to overholding or to a month by month basis. Reasons for agreements not being renewed may be due to detailed negotiation or consideration of long-term strategic issues i.e. three leases are waiting on the outcome of the Tennis Strategy (i.e. St Kevin’s Primary School playground and tennis club and the Caulfield Park Tennis Club). There are also two leases with Telstra for telecommunication equipment at the Town Hall and Princes Park currently being renegotiated following the original lease expires. Licences to Rotary Club of Bentleigh Moorabbin Central, Community Information Support Victoria and Australian Football League are all finalised and have been sent to the respective tenants for execution.
At the end of quarter 3 all occupiers of council land or buildings had a current agreement, with the proportion of current lease agreements sitting at 91% and those in overholding 9%.
*Since the last report Council executed a new lease with Melbourne Racing Club for their occupation of part of Caulfield Wedge. We are also working with the AFL to finalise a new lease for their continued occupation of part of DC Bricker Pavilion.