GIPA - Access to Information

Contract Information Class 1

Reference Number LSU1660
Amount Payable Greater than $150,000.00
Approximate rent of $281,400 for period of lease. This does not include outgoings and any annual reviews or GST
Effective Date 01/10/2020
Completion Date 30/09/2023
Name and business address of the contractor
Joy Global - Suite 3, Level 2 iC Enterprise 1 Building, Innovation Campus North Wollongong NSW 2500
Particulars of the project to be undertaken, the goods or services to be provided or real property to be leased/transferred Joy Global is leasing commercial property at Office B, Level 2, Wing B, The Central, Innovation Campus, including carpark licences
Details of any related body corporate or private sector entity who will be involved in carrying out any of the contractor’s obligations or receive a benefit.
Are there any provisions under which the amount payable may be varied? Yes
Amount Payable Variation Clauses Variations subject to annual rent reviews
Can the contract be renegotiated? No
Did the contract involve a tender process? No
Description of any provisions under which the contractor is to receive payment for providing operational or maintenance services

Contract Information Class 2

Is there a transfer of significant assets to the State? No
Is there a transfer of significant assets to the contractor? No
Has any cost-benefit analysis been undertaken by UOW? No
Was a public sector comparator used? No
Did the contractor provide a base case financial model? No
If relevant, provide details of how risk is to be apportioned between the parties. N/A
Have there been any significant guarantees or undertakings between the parties? Yes
Details Security in the form of a bank guarantee which is equivalent to approximately 6 months' rent and outgoings
Other Key Elements Joy Global has an option to renew the lease for a further term of 3 years plus 3 years