Proposed Disposition of Property - 100 Princess Road, Nedlands

Published on Tuesday, 3 December 2024 at 11:33:13 AM

Proposed Disposition of Property - Section 3.58 of the Local Government Act 1995

The City of Nedlands is considering entering into a Lease over a portion Lot 103 on deposited plan 222793, Volume LR3012, Folio 206, 100 Princess Road, Nedlands, for the purpose of early leaning kindergarten centre on the following terms;

Property to be leased: A 174m² portion of Lot 103 on deposited plan 222793, Volume LR3012, Folio 206, 100 Princess Road, Nedlands

Lessee: Quest Early Learning Pty Ltd

Term of Lease: 10 years, together with an option to renew for a further 5 years

Consideration: $221,620 per annum Plus GST. 3% rent review on the anniversary of the commencement date, and a market rent review upon the tenant exercising their option, lessee responsible for all outgoings.

Market Value: $22,620.00 per annum plus GST

Written submissions in respect of the proposed lease may be lodged with the City until 5pm on Friday, 20 December 2024.

Submissions should be marked ‘Proposed Lease portion of Lot 103, 100 Princess Road, Nedlands’ and addressed to the Chief Executive Officer at the City of Nedlands, PO Box 9 Nedlands WA 6909 or emailed to council@nedlands.wa.gov.au.

Keri Shannon

Chief Executive Officer