Lease management in The Rocks
What are the Authority's leasing processes and policies?
How does the Authority advertise vacant properties for lease?
Does the Authority publish all information related to its lease negotiations?
How are lease renewals determined?
How many leases have been renewed by the Authority?
How many properties does the Authority currently manage in The Rocks?
How are heritage properties managed by the Authority?
What happens when leaseholders do not comply with heritage provisions?
How often are operating policies reviewed?
What are the Authority's leasing process and policies?
The Authority's standard leasing process requires that vacant tenancies are advertised on the Authority's website, and that a competitive process determines the successful lessee. The Lease Expiry Policy allows for the Authority to negotiate with existing tenants. This includes where a lease has been re-assigned following the sale of a business.
In addition, The Rocks Leasing Strategy outlines the Authority's strategic approach to managing the retail mix of The Rocks.
The Rocks Leasing Strategy and Lease Expiry Policy are published on the Authority's website.
How does the Authority advertise vacant properties for lease?
The Authority may advertise vacant property leases with a value over $250,000 for the life of the lease via an Expression of Interest (EOI) on the NSW eTenders website, in newspapers and magazines and on its website at www.shfa.nsw.gov.au.
Properties with a lease value under $250,000 for the life of the lease are advertised on the Authority's website.
Does the Authority publish all information related to its lease negotiations?
The Authority:
- advertises all vacant properties on its website
- registers all signed leases with Land and Property Information where they are made publically available.
As is standard practice with landlords, the Authority has commercially confidential discussions with prospective tenants as part of the lease negotiation process.
How are lease renewals determined?
As is standard practice, the Authority is able to renegotiate with existing tenants without going to tender. This helps reduce property vacancies and encourages tenants to invest in upgrading the property. This includes where a property has been re-assigned following the sale of a business.
Lease renewals are negotiated against a clear set of criteria including value for money, meeting or exceeding independent market rental expectations and lessees overall fit with the precinct strategy.
Lease renewals do not apply to residential leases or leases held by government agencies.
How many leases have been renewed by the Authority?
Since 2011, 21 retail and commercial leases were renewed.
How many properties does the Authority currently manage in The Rocks?
The Authority manages leases for around 165 properties in The Rocks.
How are heritage properties managed by the Authority?
The Authority is committed to ensuring the conservation of heritage items under its care and management.
The Authority employs specialist staff who liaise with stakeholders to ensure that works are undertaken in accordance with government guidelines and best conservation practice.
Decisions about the care, maintenance and development of heritage items are guided by conservation management plans prepared for individual properties.
What happens when leaseholders do not comply with heritage provisions?
The Authority manages its heritage properties in accordance with the NSW Heritage Act and its delegations from the Heritage Council of NSW.
The Heritage Council is notified of breaches to the Act.
How often are operating policies reviewed?
The Authority reviews its operating policies every three years for improvement.
Training for all the Authority's property staff is ongoing and includes legal and code of conduct updates.
