A PROPOSED lease of 150sqm in Tamala Park for a telecommunications tower could earn member councils $70,000 a year.
The Stirling, Wanneroo, Joondalup, Vincent, Perth, Cambridge and Victoria Park local governments jointly own the Mindarie Regional Council property on Marmion Avenue.
According to a report on the Wanneroo council meeting agenda this month, the tower on the site has been subject to a lease arrangement since November 1, 1998 and currently generates annual rent of $60,000.
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READ NOWThe report said initially Vodafone leased the site but later the provider assigned the lease to Crown Castle Australia, which is now |Axicom.
A market valuation in March found the rental value was $70,000, so the councils are proposing to charge Axicom $70,000 a year plus GST, with CPI increases over the 10-year term.
“The proposed rent of $70,000 will be distributed to each of the seven owners in proportion with each local government’s portion of ownership,” the Wanneroo report said. “The City’s portion will be $11,666.66, plus GST.”
Wanneroo councillors approved the lease on October 10 and the Stirling council, which would receive about $23,300 as owner of the biggest share, approved the lease on October 17.
The Vincent council also approved the lease on October 17 – it owns one 12th of the property, as do the City of Perth and towns of Victoria Park and Cambridge.
The Joondalup council, which has the same two-12ths share as Wanneroo, plus Perth, Victoria Park and Cambridge are yet to consider the proposal.
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