funding · City of Vincent
308 vacant Vincent homes counted as City banks on $450,000 Mount Claremont rent
The City of Vincent has 308 vacant residential properties in its 2026/27 rating base and expects $450,000 in Mount Claremont depot rent next financial year if leases are completed.
The City of Vincent has 308 vacant residential properties in its 2026/27 rating base, while expecting $450,000 in Mount Claremont depot rent next financial year if leases are finalised.
Of the vacant properties, 245 will be assessed at the standard rate in the dollar, with a combined gross rental value of $6,894,930. Another 63 will pay the minimum payment, with a total GRV of $657,330.
The figures were provided in response to questions about the City’s budget and how vacant properties contribute to its rates base. Rates notices identified each property’s rating category, valuation, rate in the dollar and total amount payable, but did not compare vacant-property charges with those for occupied residential land.
The City had received no income from the Mount Claremont depot by the end of May 2026. The 2026/27 Budget includes $431,000 for the depot, with another $96,000 planned in future years.
Administration expects the site to produce $450,000 in rent in 2026/27, plus outgoings, if the City enters into leases over portions of the property. Once leases are finalised and approved, the budget will be adjusted through the review process.
Council approved public notice and submissions for a proposed lease to Diamond Hire Pty Ltd at 11 John XXIII Avenue, Mount Claremont. The proposal covers about 600 square metres of warehouse space and 5,000 square metres of hardstand. The proposed rent is $228,000 plus GST a year.
The City will advertise the lease under section 3.58(3) of the Local Government Act 1995 and invite public submissions before final approval is considered. Administration will also provide information about possible depot functions, staffing and costs at the 18 August 2026 Ordinary Council Meeting.
No new rate, fee or levy was adopted in the material considered.
Reference minutes
City of Vincent Council Meeting (Ordinary and Special), 21 July 2026.
Key facts from the minutes
- The City reported 245 vacant residential properties assessed at the standard rate, with a combined GRV of $6,894,930.
- A further 63 vacant residential properties were paying the minimum payment, with a total GRV of $657,330.
- No income had been received from the Mount Claremont depot by the end of May 2026.
- The City expects $450,000 in 2026/27 rent plus outgoings if leases over parts of the depot are completed.
- The proposed Diamond Hire lease at 11 John XXIII Avenue would generate $228,000 plus GST a year, subject to public notice and final approval.
- Administration will provide further information on depot functions, staffing and costs at the 18 August 2026 Ordinary Council Meeting.
Why it matters
- The figures show how vacant residential properties contribute to the City’s rating base and how much future revenue depends on leases at the Mount Claremont depot. No new rate, fee or levy was adopted.