Expression of Interest open to lease 71A Acland Street, St Kilda
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Location
Cost
Milestones
- EOI Opens15 Jul 2024The Expression of Interest submission period commences 15 July 2024.
- EOI Closes11 Oct 2024The Expression of Interest submission period closes 11 October 2024. Submissions will be considered and will be subject to further community consultation.
Why are we doing this?
Council is offering 71A Acland Street, St Kilda for lease by Expression of Interest.
The current lease is set to expire in 2026 and a new lease of the property is required which will enable the reinvigoration and future use of this iconic location.
A redeveloped venue will allow this high-profile site to reach its full potential acting as a gateway for visitors to the southern end of the Acland Street precinct.
The impact
The renewal of 71A Acland Street aligns with Council’s commitment to champion live music and our declaration of St Kilda as Victoria’s first Live Music Precinct.
As part of a new lease, Council is offering a new seven-year agreement with the potential of a further 14-year term (giving a total potential term of up to 21 years) subject to the completion of a project to appropriately redevelop or comprehensively renew the existing building.
The Expression of Interest period will identify any future proposed design of works to the premises. Community members will have opportunities to provide feedback through the leasing and future development process.
Objectives
The successful bidder will be identified through a public Expression of Interest process.
Proposed key conditions for the lease include:
- Market rent
- Lease term – up to 21 years, dependent on completion of an agreed scope of works (to be determined).
The site, currently operating as The Vineyard, is on Crown Land managed by Council.
The venue was originally built as a tea house in the early 20th century and has been operating as a restaurant and a live music venue since the 1990s.
The current lease is set to expire in 2026 and a new lease of the property is required which will enable the reinvigoration and future use of this iconic location.
A redeveloped venue will allow this high-profile site to reach its full potential acting as a gateway for visitors to the southern end of the Acland Street precinct.
The renewal of 71A Acland Street also aligns with Council’s commitment to champion live music and our declaration of St Kilda as Victoria’s first Live Music Precinct.
Community members will have opportunities to provide feedback through the leasing and future development process.
The lease
As part of a new lease, Council is offering a new seven-year agreement with the potential of a further 14-year term (giving a total potential term of up to 21 years) subject to the completion of a project to appropriately redevelop or comprehensively renew the existing building.
The successful bidder will be identified through a public Expression of Interest process open on 15 July 2024.
Proposed key conditions for the lease include:
- Market rent
- Lease term – up to 21 years, dependent on completion of an agreed scope of works (to be determined).
The Expression of Interest period will identify any future proposed design of works to the premises.
Submit a bid
To submit an Expression of Interest to lease the premises, visit the Tenderlink portal.
Tenderlink reference: PORTPH-1101287