Brighton Golf Course covers an approximate area of 320,000m2 between Dendy Street and South Road, Brighton. The proposed Golf Course lease will also include a new Pro Shop (120m2 approx.) within the proposed Warm Water Pool building (subject to final design).

Under the proposed lease terms, BlueFit will invest $1 million towards improving the golf course.

• Permitted Use: 18 hole golf course and related golf activities
• Commencement Date: Date of surrender of current lease
• Commencing annual rental: Market rent review including 1.5% turnover rental
• Rent free period: 2 years in Term 1
• Term: 10 years with option for further 10 term with market rent review
• Rent escalation: CPI
• Capital Investment: $1,000,000 in Term 1
• No cap on maintenance contribution and new maintenance schedule.

The site currently returns around $250,000 for the Golf Course lease alone. Council will undertake a Market Rent Review to set the starting rent to ensure maximum sustainable rent from the site.

This lease area for the proposed Warm Water Pool facility covers approximately 2,225m2 east of the car park plus an area for pumphouse and utilities (subject to final design).

Under the proposed terms, BluFit will invest $1,000,000 into the Warm Water Pool facility and $495,000 into the Pro Shop.

• Permitted Use: Warm Water Pool, Café, Pro Shop, and associated allied services
• Rent Commencement Date: issue of certificate of occupancy
• Rent free period: 8 years
• Term: 10 years
• Options for further terms: 10 years
• Commencing annual rental: $60,000 plus GST
• Turnover rental: 1.5% turnover rental disregarding any rent free period
• Rent escalation: CPI
• Capital investment: Warm Water Pool $1,000,000 and Pro Shop $495,000.

This facility is likely to attract different user groups at different times. A service agreement will be prepared and annexed to the lease to be reviewed annually. This agreement will set out (among other things) a high-level approach to managing activities to ensure appropriate access for therapeutic uses.

The lease area for the proposed wellness centre covers approximately 14,000m2 adjacent to the Dendy Street boundary and 13th hole of the golf course (subject to final design and Town Planning approvals).

Under the proposed terms, BluFit will fully fund the proposed wellness centre, which is expected to cost more than $25 million to build.

• Permitted Use: Wellness Centre, hot bathing pools & associated health facilities, food and beverage service and infrastructure
• Rent Commencement Date: issue of certificate of occupancy.
• Rent free period: 10 years
• Term: 15 years
• Options for further terms: 2 x 15 years
• Commencing annual rental: $250,000 plus GST
• Annual Turnover Rental: 7.5% of the amount by which gross sales exceed 12.5 x the base rent payable plus GST disregarding any rent-free period. Subject to a cap of double the base rent.
• Rent escalation: CPI
• Capital Investment: Fully funded by tenant. Subject to final design (original estimate $25 million)