Page 1608 - Week 05 - Thursday, 18 April 1991

CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY

LEGISLATIVE ASSEMBLY QUESTION

Question No. 360

Lease Renewals

MR CONNOLLY - Asked the Chief Minister upon notice on 12 March 1991:

(1) How many commercial leases have been renewed in the past three financial years.

(2) What revenue has been generated by-the premium on renewal of commercial leases in the past-three financial years.

(3) How many residential leases have been renewed in the past three financial years.

MR KAINE - The answer to the members question is as follows:

(1) In the past three years no commercial leases have

come up for renewal. There is however policy

which enables lessees of commercial blocks to

either extend their leases from 50 years to 99

years or to obtain a new 99 year lease where a

substantial period of the lease has been used up.

Details of these transactions follows:

Period Number

1/7/87 to 30/6/88 1/7/88 to 30/6/89 1/7/89 to 30/6/90

Total for the 3 year period:

For the period 1/7/90 to date a further three leases have extended.

(2) The total revenue collected over the three year

period is $ 2,639,570.00 and this can be broken

down as follows:

1/7/87 to 30/6/88 $ 1,136,220.00

1/7/88 to 30/6/89 $ 553,850.00

1608