REFORMS FOR REGIONAL MARINAS
Boating facilities along the east coast of NSW are set to benefit from a series of upgrades, with regional marinas on Crown land to be offered extended leases of up to 40 years, in return for a commitment to reinvest and update them.
Minister for Lands and Water Kevin Anderson said marina leasing reforms being introduced by the NSW Government will deliver better marinas and waterfront facilities for communities and boat users, support jobs, economies and tourism, while also providing greater certainty for lease holders.
“The newly simplified marina leases will help remove red tape, provide greater investment incentives, and deliver world-class boating and waterfront precincts for the benefit of local communities, businesses and visitors,” Mr Anderson said.
“The changes will also secure fair market rents on these sites with the funds to be reinvested back into the Crown estate for the benefit of all NSW residents.”
Following a recent review, a new leasing model will be implemented which will include:
- A standard lease term of 40 years (up from 20 years) with marina operators able to extend leases, subject to meeting operating conditions including a minimum commitment to reinvest in facilities.
- A new standard lease template to provide certainty for marina operators.
- Rent calculations for marinas will be transparent and more predictable with the rent rationale and breakdown being made publicly available on the Crown Lands website.
Boating Industry Association President Andrew Fielding said the industry welcomed the leasing reforms which would support industry and regional communities.
“The leasing reforms will create a framework where marina operators and investors can deliver important privately-funded public infrastructure with confidence, while greatly improving their offerings to boaties and the broader community,” Mr Fielding said.