GIPA - Access to Information

Contract Information Class 1

Reference Number LSU25
Amount Payable Greater than $150,000.00
Approximate rent payable is $60'3036.50 per annum which does not include annual rent review increases or contributions to outgoings. Carpark licence fee of $22,800 per annum applies.
Effective Date 01/07/2018
Completion Date 30/06/2028
Name and business address of the contractor
Objective Regtech Pty Ltd -
iTree Pty Ltd - Suite 3, Level 3,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 Objective is leasing commercial premises at Suite 3, Level 3, Enterprise 1 Building at Innovation Campus. Objective has also entered into a carpark licence for the term of the lease.
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 equivalent to 6 months rent and outgoing contribution
Other Key Elements