Lease Extension and Upfront Rental Prepayment
Regional South Australia
- Replacement of existing tower to allow for installation of new equipment, ensuring ongoing coverage to surrounding area.
- Axicom were flexible with payment terms structure. The owner received an upfront rental income prepayment, in return for an extended 30-year lease.
- Axicom efficiently engaged the right people within the council, successfully navigating heritage planning requirements.
- Tower upgrade took place in a timely manner, with minimal services interruptions to the surrounding community.
The site was located within a heritage conservation area, leading to an increase in planning conditions and regulations that had to be navigated and satisfied.
We were able to tailor a deal structure that suited the owner’s specific circumstances
A new lease agreement was required to extend tenure, formalise access conditions, and update OH&S procedures and the survey plan. Furthermore, the new agreement had to facilitate the landowner’s complex financial and legal structure.
During construction service outages had to be minimised to avoid adversely impacting the surrounding tourist destinations
Axicom listened to the needs of the site owner, and were able to tailor a deal structure that suited the owner’s specific circumstances. A prepaid upfront rental was agreed, in return for a new 30-year lease.
Through effective planning, Axicom was able to efficiently engage the right people within the council to navigate the challenging planning requirements in a timely manner.
All parties worked together to achieve a desirable outcome for stakeholders. The site was secured and upgraded in a timely fashion. It will now provide improved services and amenity to the surrounding community for another 30 years.
The land owner received a lump sum payment which they used to reinvest in their core business