Wednesday, September 03, 2003

Harbour jewel for a paddock's rental: "When Macquarie Leisure Trust bought Rushcutters Bay marina for almost $12 million from the d'Albora group in 1999 it was buying into a good deal from the taxpayers of NSW. The marina, home to the yachts of Sydney's elite, is built entirely on public land leased for 40 years, until 2015"

To obtain the full rent of sites the public authorities need to rent the site out at regular intervals (at least annually, if not continually)but not touch or interfere with the improvements, which remain the property of the owner.

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