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Lease Approval - Campbell's Stores, Service Tunnel, Hickson Road, The Rocks

28/10/2019 - Lease Approval - Campbell's Stores, Service Tunnel, Hickson Road, The Rocks

It is resolved that:

(A)        Council note that the City has adopted a Divisional Procedure rather than a Policy for Leases Above and Below Roads;

(B)        having regard to (A) above, Council rescind the current policy for leases above and below roads in Attachment B to the subject report endorsed on 23 May 1983, 28 March 1994 and amended on 7 August 1995;

(C)       pursuant to Section 149 of the Roads Act 1993, Council approve the granting of a 99-year stratum lease to Place Management NSW for the proposed sub stratum below Hickson Road containing a service tunnel connecting with Campbells Stores at 7-27 Circular Quay West; and

(D)       authority be delegated to the Chief Executive Officer to undertake further negotiations as required to finalise the terms of the lease and to execute, administer and manage the stratum lease following execution.

Carried unanimously.

S094584.049