RRC Leases Signed

Finally, some good news on the leases.
City of Melbourne has informed RRC that our Head Lease has now been executed by both CoM and DEPI (State Government) which is a pre-requisite for MLC and RRC to execute our lease.
On Tuesday  night, RRC signed the MLC lease, financial agreement and code of conduct and MLC will sign these documents in the next few days.

Signing the new lease
Signing the new lease documents

We have already received positive feedback from CoM regarding the MLC lease and so we hope that the MLC lease will be fully executed by mid-October. Fingers crossed!
If this happens, we will go to tender in mid October, select a builder before Christmas and start building works as early in 2014 as we can.
We do not yet know what the level of disruption will be. Discussions with builders have certainly indicated that alot of work can be done without impacting the current operations but we expect that during the winter months there will be times when we will not have access to either parts of all of the boathouse. Much more will be known when the builder has been selected and put together their program of works.