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Legislative Assembly for the ACT: 1997 Week 5 Hansard (15 May) . . Page.. 1583 ..

Mr Humphries (continuing):

(c) I am advised that the rental provisions attached to that offer would be in the vicinity of $200 per square metre per annum, well below the current market rent within the area estimated at $300-$350 per square metre.

(d) The rental period on offer would be long term.

(e) As I mentioned, the rental period on offer would be long term (possibly 10 - 20 years). Other than that I am not aware of the exact details which are purely a matter between the two parties.

(f) The ACT Government has not made any offer to Mr Stefos regarding the provision of financial assistance with his relocation/set up costs.

(g) As I mentioned, no offer has been made.

(h) In view of Mr Stefos' situation I have asked the Planning and Land Management Group to provide advice on what assistance might be offered to assist him in relocating to premises which will offer him long term security and a stable basis for his business.

(j) (i & ii) Yes. Mr Stefos' involvement with the site commenced when he became a tenant of the TAU Theatre, itself a short term lease. Upon the destruction of the theatre Mr Stefos had no rights or entitlements to the block in question. Notwithstanding this, the Government took considerable care to assist him in overcoming the consequential financial difficulties. He was offered the alternative of having the Territory undertake demolition works or to undertake them himself. He chose to do it and his rent was reduced as a consequence. The requirement for the removal of the Boomerang Cafe was also a part of the original lease and was reflected in the lease rental payments. In this regard, Mr Stefos has been fully aware of, and understood, his obligations under the lease. Mr Stefos made a commercial decision to enter into that lease with all the facts before him. Further, when asked by Mr Stefos' solicitor in April 1995 whether it was intended to enforce this requirement, the Territory confirmed this was the case

(iii) The loss of business suffered by Mr Stefos due to the delays in demolishing the burnt out TAU Theatre is acknowledged; while the protracted negotiations in respect of the lease offer were underway, Mr Stefos did not pay rent.

(k) The arrangements which Mr Stefos accepted vested him with ownership of the improvements on the land and Mr Stefos will be required to remove them at the end of the lease. The Territory is not in a position to provide any financial assistance to Mr Stefos to assist with removal costs. Nor is any compensation payable in respect of those improvements. Nevertheless, the Planning and Land Management Group is considering working with the Crown lessee of Block 4 to assist in the relocation of Mr Stefos' equipment and furnishings.

(l) No.

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