RRC Signs New 21 Year Head Lease

At last we have signed the Head Lease for the Richmond Boathouse. This secures Richmond another 21 years at the boathouse, with the new lease ending in 2034.
Executing the Lease is the culmination of more than 4 years work by Martin Foster and Derek Begg to coordinate the rowing clubs, City of Melbourne, Victoria Police and Liquor Licensing Victoria. Martin looks pretty happy to be signing and sealing the Lease!

Martin seals new Head Lease
Martin seals new Head Lease

The Lease is now waiting for execution by City of Melbourne and the Victorian Department of Sustainability and Environment (DSE). Our colleagues at City of Melbourne have kindly offered to try to fast track this process. Fingers crossed we might have our Head Lease fully executed by mid-May.
Our agreements with MLC are just about complete and we anticipate that the MLC sub-lease will be submitted to City of Melbourne in mid-May. We are waiting to hear which Council meeting this can be scheduled for.
The MLC sub-lease must be executed by City of Melbourne and DSE before MLC releases the funds for the project. Building works will probably start towards the end of the year, but it all depends on how long it takes City of Melbourne and DSE to approve and execute the sub-lease.