Extraordinary Economic and Cultural Development Committee - 9 Apr 2026 12.00 PM

Topics

• Council approves confidential Nicholas Street Precinct tenancy deal
  A confidential lease arrangement was approved for a Tulmur Walk tenancy in the city’s major precinct.
  It signals continued commercial activity and tenant churn in a key civic redevelopment area.

Decisions

• Closed session to discuss confidential lease matter
  The committee resolved to move into closed session to discuss the Nicholas Street Precinct lease item under the Local Government Regulation 2012.
  This was a confidential property matter, but it related to a commercial tenancy in a major city precinct.
• Agreement for Lease approved for Tenancy 2B05 - 7 Tulmur Walk
  Council agreed to enter into an Agreement for Lease and associated documentation with the proposed lessee for Tenancy 2B05 - 7 within the Nicholas Street Precinct, subject to the commercial terms in the confidential report.
  This supports further occupancy and activity in the precinct, which can affect local activation and business use of the area.
• Lease approval contingent on execution of agreement to lease
  Council resolved to enter into the lease for Tenancy 2B05 - 7 only after satisfactory execution of the Agreement to Lease.
  The tenancy will proceed only if the earlier agreement is finalised, affecting when the space can be occupied.
• CEO delegated contractual authority to implement lease decision
  Council delegated to the Chief Executive Officer the power to take contractual action needed to implement the lease and agreement-for-lease decisions.
  This speeds up administration of the tenancy deal and reduces delays in finalising the arrangement.

Discussion

• Nicholas Street Precinct tenancy lease
  The main item was a confidential proposal for Tenancy 2B05 - 7 at 7 Tulmur Walk, including lease and agreement-for-lease arrangements.
  The outcome affects commercial occupancy and activity in the city centre precinct.
• Ministerial exemption noted for disposal of leasehold interest
  Council noted that a Ministerial exemption under the Local Government Regulation 2012 applied to the disposal of its leasehold interest in the tenancy.
  This is a legal/compliance step enabling the property transaction to proceed.
• Confidential commercial terms and attachments
  The report and attachments were confidential, so only the procedural and decision outcomes were made public.
  Residents can see that a precinct tenancy was approved, but not the commercial detail.

Impacts

• Potential increased activity and tenancy use within the Nicholas Street Precinct.
• No direct service change or rate impact was identified in the public extract.
• The decision may influence the mix of businesses and activation at 7 Tulmur Walk.

Places

• Nicholas Street Precinct (precinct)
  Site of the approved tenancy and lease decision.
• Tulmur Walk (street/precinct location)
  Specific location of Tenancy 2B05 - 7.
• 7 Tulmur Walk (property address)
  Premises covered by the Agreement for Lease and proposed lease.

Next

• Execute the Agreement for Lease and associated documentation with the proposed lessee
  After council approval; timing not specified
• Enter into the lease if the Agreement to Lease is satisfactorily executed
  Conditional on completion of the Agreement for Lease
• CEO to take contractual action to implement the decision
  Following council resolution
• Keep council informed of progress and outcome
  Ongoing

Extract

9 APRIL 2026 SPECIAL MEETING OF THE ECONOMIC AND CULTURAL DEVELOPMENT COMMITTEE NO. 2026(04)] of 4 SPECIAL MEETING OF THE ECONOMIC AND CULTURAL DEVELOPMENT COMMITTEE NO. 2026(04) 9 APRIL 2026 REPORT COUNCILLORS’ ATTENDANCE: Councillor Pye Augustine (Chairperson); Councillors Marnie Doyle (Deputy Chairperson), Mayor Teresa Harding, Deputy Mayor Nicole Jonic, Jacob Madsen, Andrew Antoniolli, David Martin, Jim Madden and Paul Tully (Observer) COUNCILLOR’S APOLOGIES: Nil OFFICERS’ ATTENDANCE Chief Executive Officer (Sonia Cooper), General Manager Community, Cultural and Economic Development (Ben Pole), Acting General Manager Corporate Services (Allison Ferres- MacDonald), Precinct Director – Ni...