Port Of Melbourne Lease Agreement

The port does not plan to change the rent it charges, but says it will be more transparent about how “rental and lease negotiations are determined.” The Victorian government is on the verge of starting a spree of infrastructure spending after concluding a record $9.7 billion contract to lease the Port of Melbourne for the next 50 years. The Lonsdale consortium, which has operated Australia`s busiest port for 50 years, consists of QIC, owned by the Queensland government, the federal government`s Future Fund, Global Infrastructure Partners (GIP), a New York-based investment fund, and OMERS, the pension fund of the Canadian province of Ontario. However, the port immediately rejected the ESC report, saying that rents had to take into account future land values and that they had been set at the level set by independent experts. “As a result, rents will not be at an effective level, which harms tenants and ultimately the long-term interests of Victorian consumers in material terms,” the report warned. Port of Melbourne offers the market eight properties for rent. Tenants asked why port property funds do not do more to ensure fair rents if they claim to support good management of the assets they manage. For more information, please visit portofmelbourneforlease.com.au/ The long-term lease was purchased by a consortium owned by the Queensland Investment Corporation in the future and global infrastructure partners, which has given the government a greater wind for road and rail projects. This portfolio offer, rare and unique, consists of land from 5.502qm to 68,653qm, with a mixture of offices/warehouses, hardness and docks. The Victorian government is signaling expressions of interest to stakeholders interested in purchasing the Port of Melbourne as part of a long-term lease agreement, a step that will fund the removal of 50 state-wide crossings.

Mr Sims` comments were supported by transport and logistics groups that have teamed up to combat the fees charged to them by port companies – which pass on any increase in their own leases with port owners – for the conduct of goods in and out of ports. Greens leader Greg Barber warned that local exporters would pay a high price for privatizing the port. Treasurer Tim Pallas said he expected the lease of the country`s largest container port to be sold for $7 billion. The Victorian government said it was working on measures to improve transparency and achieve “fairer results” for tenants by improving reporting, rent information exchange and dispute resolution procedures. Those interested are invited to speak by email pomlease@morganstanley.com.

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