The City of Greater Geelong will advertise its intention to enter into a new 21-year lease agreement with the current tenant of the Wharf Shed at 15 Eastern Beach Road, Geelong.
Three Frothy Beers Pty Ltd is tenanted to the site until 30 June 2028, but has asked for a more secure lease to ensure return on its recent renovations to the restaurant, worth $1.5 million.
Council voted in support of the advertisement last night and approved the lease, should no submissions be received. If submissions are received, a hearing may be needed, as well as a further report to council.
The business is on Crown Land, which means the potential new lease would need Ministerial approval.
In November last year, the City advertised its intention to negotiate the new lease and received no submissions.
Mayor Stephanie Asher:
This is a positive step towards a potential 21-year lease with the site's tenants, who have done an amazing job refreshing the space and attracting more visitors to the stunning waterfront.
Councillor Bruce Harwood - Deputy Chair, Central and Civic Geelong portfolio:
It's been good to see the new life the current tenant has breathed into this iconic venue. The two operators are well known Geelong figures who have worked hard at promoting our city on the hospitality scene. They've done an excellent job with their renovations, so we hope their venture will be successful and continue a great tradition on the waterfront.
