Extraordinary Economic and Cultural Development Committee - 26 Mar 2026 8:15 AM

Topics

• Nicholas Street Precinct lease decision deferred
  Councillors did not finalise a confidential lease for a Tulmur Walk tenancy and instead pushed the matter to the next committee meeting.
  The decision affects commercial occupation and activation in a key city centre precinct.
• Matter referred to next committee meeting
  The committee agreed to refer the Nicholas Street Precinct lease matter to the next Economic and Cultural Development Committee meeting in April 2026.
  The lease decision was deferred, so any related tenancy activity or precinct changes are delayed.

Decisions

• Moved into closed session for confidential lease item
  The committee resolved to close the meeting to discuss a confidential item concerning an Agreement for Lease for Tenancy 2B05 - 7 Tulmur Walk in the Nicholas Street Precinct.
  This was a confidential commercial property matter affecting a city centre precinct development.
• Matter referred to next committee meeting
  The committee agreed to refer the Nicholas Street Precinct lease matter to the next Economic and Cultural Development Committee meeting in April 2026.
  The lease decision was deferred, so any related tenancy activity or precinct changes are delayed.

Discussion

• Nicholas Street Precinct lease proposal
  A confidential report sought approval for an Agreement for Lease, a later lease, delegation to the CEO for contractual action, and acknowledgement of a Ministerial exemption for disposal of Council's leasehold interest.
  This concerns commercial activation and tenancy arrangements in a major CBD precinct, which may affect local business activity and precinct use.

Impacts

• No immediate public decision was made on the proposed Nicholas Street Precinct tenancy lease.
• Any lease-related activation at Tulmur Walk may be delayed until the item returns to committee in April 2026.

Places

• Nicholas Street Precinct (precinct)
  Site of the confidential lease proposal
• Tulmur Walk (walkway/precinct address)
  Location of Tenancy 2B05 - 7
• Tenancy 2B05 - 7 (commercial tenancy)
  Subject of the proposed agreement for lease

Next

• Return the Nicholas Street Precinct lease matter to the next Economic and Cultural Development Committee meeting
  April 2026
• If approved later, execute the Agreement for Lease and related lease documentation
  After future committee decision
• Keep Council informed of execution and publication progress
  Ongoing if the matter is progressed

Extract

26 MARCH 2026 SPECIAL MEETING OF THE ECONOMIC AND CULTURAL DEVELOPMENT COMMITTEE NO.2026(03)] of 4 SPECIAL MEETING OF THE ECONOMIC AND CULTURAL DEVELOPMENT COMMITTEE NO. 2026(03) 26 MARCH 2026 REPORT COUNCILLORS’ ATTENDANCE: Councillor Pye Augustine (Chairperson); Councillors Marnie Doyle (Deputy Chairperson), Mayor Teresa Harding, Deputy Mayor Nicole Jonic, Andrew Antoniolli, David Martin and Jim Madden COUNCILLOR’S APOLOGIES: Nil OFFICERS’ ATTENDANCE Chief Executive Officer (Sonia Cooper), General Manager Corporate Services (Matt Smith), General Manager Planning and Regulatory Services (Brett Davey), Precinct Director – Nicholas Street Precinct (James Hepburn), Manager Media, Communicatio...