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Legislative Assembly for the ACT: 1998 Week 4 Hansard (25 June) . . Page.. 1147 ..

2. For each rental or lease

(a) the period of the lease is:

Building Lease Term Lease Dates

Allara House 6 years 1 Jan 97 to 31 Dec 02

Ground Floor AMP Building Monthly

Canberra Nara Centre 6 years 1 Jan 96 to 31 Dec 01

SAP Tower 5 years 4 Apr 96 to 3 Apr 01

Comcare House (Natwest) 5 years 1 Mar 96 to 28 Feb 01

FAI House 10 years 1 Dec 96 to 31 Nov 06

GIO House Floors 1 & 3 10 years 1 Feb 93 to 31 Jan 03

GIO House Floor 2 5 yrs 5 mths 1 Sep 97 to 31 Jan 03

Mort Street 6 years 1 Mar 97 to 28 Feb 03

Reserve Bank 10 years 26 Mar 95 to 25 Mar 05

Royal Insurance Building Monthly

Saraton 10 years 1 Jul 90 to 30 Jun 00

Scala House 5 years 1 Oct 96 to 30 Sep 01

(b) the rent per square metre for each property in Civic is:

Allara House - $330

AMP Building - $250

Canberra Nara Centre - $357

SAP Tower - $405

Comcare House (Natwest) - $250

FAI House - $340

GIO House Floors 1 & 3 - $300

GIO House Floor 2 - $248.70

Mort Street Grd Floor - $450

Mort Street 1st Floor - $300

Reserve Bank - $352.07

Royal Insurance Building - $247.68

Saraton - Ground - $580

Saraton - 1 & 2 - $340

Scala House - $275

3. No. Individual leases over different properties have individual terms and conditions reflecting the commercially negotiated agreement at the time. These can include various incentives, rent free periods, and rental review conditions as negotiated between the parties.

4. The terms and conditions of the rental/lease agreement relating to FAI House are within the normal parameters of lease condition negotiations. FAI House had a 6 month rent free period at commencement. This option was prorated over the first 2 years from 1 Dec 96 to 30 Nov 98, thereby reducing the rent from $340 per square metre to $255 per square metre. Rent review to market with ratchet, applying from 1 December 1998.

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