Lease Cost Benefit Analysis
|Client||National Archives of Australia|
|Timeframe||2015 - 2018|
The National Archives' Chester Hill storage facility was purpose-built by the Australian Government between 1972 and 1975. It was subsequently sold with a leaseback that was due to expire with no option of renewal on 30 September 2018. The Archives needed to either negotiate a new lease of the facility or relocate to alternate premises. In accordance with the Department of Finance’s (Finance) Property Management Framework, a Cost Benefit Analysis was required to determine the best value for money solution.
For this specific project, the Analysis found that the best option was to negotiate a new long term lease of the existing premises in return for specific landlord upgrade works. This outcome was endorsed by Finance, allowing the Archives to proceed with negotiations for a new lease.