The Town of Vincent has accepted a state government offer of a 50-year lease for the recently renamed NIB Stadium at $25,000 per year.
The Town of Vincent has accepted a state government offer of a 50-year lease for the recently renamed NIB Stadium at $25,000 per year.
The state government will also make an upfront payment of $5 million to the council.
Sports Minister Terry Waldron said he hoped the money will be used to make up the funding shortfall for redeveloping Beatty Park Leisure Centre.
Mr Waldron said the agreement is a major milestone in the development of a rectangular stadium in Perth.
See government announcement below:
A major milestone in the development of Perth's new rectangular stadium has been achieved with the Town of Vincent accepting the State Government's offer for a lease agreement for Perth Oval (nib Stadium).
Sport and Recreation Minister Terry Waldron said the Town of Vincent had accepted the State Government's offer of a 50-year lease of Perth Oval at $25,000 per year.
"In addition to an annual lease fee, the State Government will provide an upfront payment of $5million to the Town of Vincent with a preference that this money is used to address the funding shortfall for the redevelopment of Beatty Park Leisure Centre," Mr Waldron said.
"This Government has made it clear that our major rectangular codes have been ignored for too long in terms of major infrastructure and, with this announcement, we have taken an important step in delivering our vision for a 25,000 seat stadium for the Western Force and Perth Glory.
"This decision will also assist the West Australian Rugby League in their efforts to establish a WA franchise in the expanded National Rugby League competition.
The Minister said the redevelopment of Perth Oval was an opportunity for the State Government and the Town of Vincent to build on their strong relationship to realise the vision for a modern rectangular stadium that would meet the needs of a number of sporting codes and enhance the entertainment options for the people of WA.
Town of Vincent mayor Nick Catania said the council had considered the Government's offer at a special council meeting last night.
"I am extremely pleased that the council unanimously approved the offer which is very attractive and will allow the town to provide numerous benefits for its residents," Mr Catania said.
"The town will continue to work with the State Government on the redevelopment project; we see this as a real win-win situation for the Government, the codes and the town.
The end vision for this facility is a 25,000 seat stadium based on the Skilled Park, Gold Coast model; detailed design and planning work is currently under way with building scheduled to commence in 2012.
