NTG leased property stimulus scheme

The scheme will invite submissions from building owners with existing Northern Territory Government leases, to undertake capital works to their commercial buildings in exchange for an extension of lease term.

All capital works must be carried out in line with the NT Government's Buy Local Plan.

All works must be undertaken by and materials sourced from Territory enterprises.

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Building owners with a NT Government lease are eligible to register their interest at leasedpropertystimulus@nt.gov.au.

Applications will be assessed over a two stage process.

Applications that are successful at stage 1 will progress to a second detailed submission stage.

There will be opportunities for building owners to meet with the NT Government to discuss and/or refine their submissions through the application process.

Industry engagement briefings will be held in both Darwin and Alice Springs.

Darwin

Date: Wednesday 16 January 2019

Time: 2:00pm

Venue: Meeting Room 10E, Level 10, Charles Darwin Centre, 19 The Mall, Darwin

To register, email your name and contact details to leasedpropertystimulus@nt.gov.au.

Alice Springs

Date: Friday 18 January 2019

Time: 11:30am

Venue: DCIS Stuart Training Room, Level 1, Alice Plaza, 12 Todd Street, Alice Springs

To register, email your name and contact details to leasedpropertystimulus@nt.gov.au.

The scheme’s objective is to stimulate economic activity in the Northern Territory, generating capital works that use and support local businesses.

Property owners have told us that without a long lease term, financial institutions are less inclined to lend money for upgrades to their buildings.

This scheme will help eligible building owners invest in their buildings. This is good for the economy and a great way to stimulate the construction sector.

Building owners will invest in their assets through undertaking capital works that add value, such as:

  • energy and water efficiency measures
  • base building works that improve:
    • building amenity
    • performance or
    • operation
  • end of trip facilities e.g. bike storage or showers office
  • fit out for NT Government tenants (where existing fit out is at end-of-life)
  • activating premises and/or surrounding location or services.

Repair and maintenance works that would ordinarily be undertaken by a building owner, or already required under the current lease agreement, are not included in the scheme.

Leased terms will be capped to an extension of:

  • no more than 10 years or
  • a total lease of no more than 15 years

whichever is the lesser.

The scheme is not an opportunity for building owners to negotiate changes to their current lease agreements.

No financial contribution will be made by the NT Government to the cost of:

  • the capital works or
  • preparation of the applications or submissions.

Last updated: 08 March 2019

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