Meeting papers

SERVICES & ORGANISATION COMMITTEE MEETING                                            11 APRIL 2023


5.4     PROPOSED LEASE TENANCY FOR PEREGIAN DIGITAL HUB


Author              Digital Hub Director, Christopher Boden
                    Environment and Sustainable Development Department
Index               ECM/ Subject/ 45.04 Economic Development
Attachments         1.   Nabooki - Leasing Overview and Recomendations 2023
                    2.   Nabooki - Lease Proposal


EXECUTIVE SUMMARY
Council has secured a prospective tenant for a new 75m2 office space at the Peregian Digital Hub.
The tenancy becomes available on 1 May 2023 when the Hub transitions its programs and events
to the new AI Lab facility that has recently been completed. This tenancy helps bolster and stabilise
the Hub’s revenues by way of a multi-year lease.

The proposed tenant, Nabooki, is a Noosa tech success story, employing over a dozen staff and
providing their Software as a Service platform to a wide variety of enterprise clients. Council’s
Property Management Service provider, Colliers, has run a market process and evaluated Nabooki
as a strong fit with the Hub’s industry development objectives and culture.
RECOMMENDATION
That Council note the report by the Digital Hub Director to the Services & Organisation Committee
Meeting dated 11 April 2023 regarding the commercial lease of office space at the Peregian Digital
Hub and:
      A. Agree to enter a commercial lease of the Unit 5 premises of 75m2 to Nabooki Pty Ltd. for a
         two year term, as generally outlined in the report;
      B. Authorise the CEO to award up to three subsequent lease extensions each of 1 year, subject
         to the lessee complying with the terms of the lease.


REPORT
The purpose of this report is to seek Council approval to enter into a new lease for commercial office
space at the Peregian Digital Hub.

The Hub’s programs and events are currently run from the CoLab – an open plan area on the ground
floor. Council has now completed construction of the Peregian Digital Hub’s AI Lab which provides
a new home for those programs, starting from May 2023.

The current CoLab space has been fitted out as a stand-alone office space of 752m (now, called Unit
5), with new wall and security access. That work was completed as part of the Lab construction
project and is funded under the same Federal Government grant agreement.

Council decided to tenant the Unit 5 space rather than increase the amount of co-working capacity
on the basis that it would help to stabilise the revenue mix and present an accommodation
opportunity for a growing technology company in the region.

Sourcing and evaluation of prospective tenants for Unit 5 has been undertaken by Colliers, Council’s
contracted provider of Property Management Services, in accordance with the Local Government
Regulation 2012 and guided by the Sound Contracting Principles set out in the Local Government
Act 2009.




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