2016-10-17 GC Agenda - Att 1 to Item 7 - Electric Bus Trial Lease Agreement

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                     11 OCTOBER 2016


4                        PROPOSED TRANSFER OF SHOP 8 LEASE SUNRISE BEACH NEIGHBOURHOOD
                         SHOPPING CENTRE, 2 GRASSTREE CRT, SUNRISE BEACH
DOCUMENT INFORM AT ION




Author                          Property Manager, Clint Irwin
                                Corporate Services Department

Index                           ECM/ Subject: 46.01 Lease / Application No: LEAS13/0019

Attachments                     Nil


EXECUTIVE SUMMARY
Not applicable.

RECOMMENDATION
That Council note the report by the Property Manager to the Services & Organisation Committee
Meeting dated 11 October 2016 and approve the proposed transfer of the lease for Sunrise
Neighbourhood Shopping Centre, Shop 8 – Supermarket, located at 2 Grasstree Court, Sunrise
Beach from Yenbazaar Pty Ltd to Sunrise JEM Pty Ltd.


REPORT
Yenbazaar Pty Ltd (the Lessee) has held the lease for Shop 8, Sunrise Neighbourhood Shopping
Centre since 2008. The current 5 year lease expires April 2018, with no further options available
under the lease.

The Lessee has a contract of sale for the business. The sale is conditional on the lease transferring
to the proposed new business owner.

Accordingly, the purpose of this report is to seek Council approval to transfer the Shop 8 lease to
Sunrise JEM Pty Ltd. The proposed new business owner will continue to provide a convenience
store from the premises.

The proposed new business owner has provided Council with documentation to support the lease
transfer request including references and financial information to allow an evaluation of their
suitability to enter into the lease. The documentation has been assessed and the proposed new
business owner is deemed suitable to acquire the lease.

Subsequent to formal Council resolution a deed of assignment is to be executed by the current
lessee, the proposed new business owner and Council.

Previous Council Consideration

Nil.

Finance & Risk

Nil.




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