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Legislative Assembly for the ACT: 2001 Week 8 Hansard (9 August) . . Page.. 2937 ..

FAI House

(Question No 377)

Mr Stanhope asked the Minister for Urban Services, upon notice:

In relation to FAI House:

(1) Has the rent for the lease of FAI House been adjusted since the lease was entered into by the ACT Government.

(2) If so, when.

(3) What are the terms of any adjustment to the rent.

(4) What was the basis for the change in rent.

(5) Was the basis for the change in rent of FAI House also relevant to other leases by the ACT Government of other premises in the ACT.

(6) If so, which buildings.

(7) Were there rental adjustments of the same order as any changes for FAI House.

Mr Smyth: The answer to the member's questions is as follows:

(1) There has been no adjustment to the rent for FAI House since the lease was entered into by the Territory.

(2) See (1) above.

(3) The lease includes the option for rent reviews to market every two years from the date of commencement. The lease has a ratchet clause. No rent reviews have occurred.

(4) Agreed fair market rent.

(5) Each ACT Government lease is specific to a particular property and will reflect market conditions at the time.

(6) See (5) above.

(7) See (5) above.

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