PROPOSED LEASE TENANCY FOR PEREGIAN DIGITAL HUB · Report

SERVICES & ORGANISATION COMMITTEE MEETING                                              11 APRIL 2023


Colliers has worked collaboratively with the Digital Hub Director to ensure that Council’s strategic
objective of bringing together the optimal mix of technology company tenants in the Hub is achieved.

Colliers received a high-quality tenancy application for unit 5 and have recommended Nabooki Pty
Ltd as the prospective tenant for unit 5 at the Digital Hub, guided by criteria that evaluate both their
ability to meet the commercial obligations of the tenancy and their fit with the industry development
objectives and culture of the Hub.

Colliers has provided Council an outline of the procurement process, timeline and assessment
criteria, refer Attachment 1.

The primary lease provisions proposed are as follows:

Lease Provision      Proposal
Unit                 5
Lessee Name:         Nabooki Pty Ltd.
Premises:            Lease C being part of Lot 95 on SP137431
                     as shown on the Plan, 253-255 David Low
                     Way
Nett Lettable Area: 75m2 approximately
Commencement         01.05.2023
Date
Initial Lease Terms: 2 years
Options to Extend: 1 option, of 2 years
Base rental          $38,775 exc GST per annum (to be paid in
                     monthly instalments in advance)
Market Rent          CPI reviews annually with Market review at
Reviews:             exercise of option
Outgoings:           An annual contribution of $5,000 per
                     annum, paid monthly and increasing
                     annually on 1 July by CPI.
Permitted Use:       Professional Office
Rental Free Period Nil
Bond:                Three month’s rent plus Outgoings plus
                     GST to be paid by the lessee to the lessor
                     by cash or bank guarantee upon execution
                     of the lease.

It is recommended Council agrees to enter commercial leases with Nabooki Pty Ltd. generally in line
with the above provisions.
Previous Council Consideration
Ordinary Meeting Minutes, 19 May 2022, Item 1, Page 3
That Council note the report by the Economic Development Manager to the Services & Organisation
Committee Meeting dated 10 May 2022 regarding the commercial lease of office space at the
Peregian Digital Hub and:
A. Agree to enter a commercial lease of the Unit 3b premises of 45m2 to TP Collab Trading Pty Ltd.
for a three year term, as generally outlined in the report;