Notice of Intention to Lease Property
Reserve 28199 (Lot 501) Cottesloe
Barchetta Café and Kiosk
In accordance with Section 3.58 of the Local Government Act 1995, the Town of Cottesloe provides notice of its intention to lease the land situated at 149 Marine Parade to Yellowdot Enterprises Pty Ltd.
This lease would allow for the redevelopment of the existing facilities and effectively terminate the existing lease which is due to expire in 2023. The proposed term of the new lease would be for fifteen years from the completion of the redevelopment.
The lease fee for the existing lease was recently valued at $100,000 per annum for a floor area of 235m². Based on the redevelopment plans and an increased floor area of 355m², the new lease fee would be $151,061.20. This fee will increase by 3.5% per annum for the term of the lease.
A key component of the proposed new lease would see the maintenance of the public toilets below the Café/Kiosk revert to the responsibility of the Town of Cottesloe and not Yellowdot Enterprises Pty Ltd, as per the terms of the existing lease.
Written submissions in regard to the proposed lease are invited and should be addressed to the Chief Executive Officer at the below address closing 4.00pm on Friday, 1 December 2017.