Decision details

X013734.001

It is resolved that:

(A)        Council note the outcome of the Expression of Interest for the long term ground lease of the commercial properties at 56-76 Oxford Street, 82-106 Oxford Street and 110-122 Oxford Street, Darlinghurst (the Properties);

(B)        Council endorse Proponent A as the preferred entity to acquire, implement and manage a successful transformation of the Properties on a long term ground lease (comprising a Development Lease and an Operational Lease for a combined period of 99 years); and

authority be delegated to the Chief Executive Officer to negotiate, execute and administer the transaction documents with Proponent A for the purpose specified in (B) above on the basis of the information in Confidential Attachment C and otherwise on terms acceptable to the City.