Page 5141 - Week 17 - Wednesday, 12 December 1990

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5. The valuation was a calculation of the market value arrived

at by reference to complex valuation considerations notably

revenue and expenditure associated with operation of the pool.

6. Yes. The arrangements are the covenants between the

Commonwealth and the Crown lessee described in the Crown lease

of Block 2 Section 22 Phillip and.which commenced on the first

day of August, 1979. Glencora had an option to renew its lease

for 10 years if the land was not required for Government

purposes. If the Government wishes to resume the pools, the

Company will have the right to retain that part of the lease on

which the ice skating rink is built for ten years. If that

part is acquired, the Government will have to pay compensation

for the improvements.

7. Maintenance has been undertaken but at this stage much of

the work required on the pool is beyond simple regular

maintenance.

8. A new lease was being negotiated with Glencora which

embodied its existing rights and so avoided the necessity for

compensation. The lease offer was not accepted by Glencora Pty

Limited who made a counter-offer which is under review by the

Government.

The Government is now considering the options for the future of the centre. We recognise the importance of this recreation facility to the ACT community and we will ensure that the many swimming and ice skating individuals and clubs who use the centre continue to have a first class facility for their sport and recreation.

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