New lease of life for saleyards
ROCKHAMPTON Regional Council yesterday refused to disclose how much it had been paid for the 30-year lease of the Gracemere Saleyards facilities.
On Tuesday the council announced the leasing of Gracemere Saleyards to Palisade Investment Partners Regional Infrastructure Fund.
The complex will now be named the Central Queensland Livestock Exchange, or CQLX.
Mayor Brad Carter said he wasn’t at liberty to disclose the fee as he was bound by a contractual commercial-in-confidence agreement.
Cr Carter said it was standard not to release such information when dealing with commercial leases.
He confirmed there was a proper lease agreement in place, of which funds were a part, and said the lessees were committed to an estimated $14 million improvement for the facility and maintaining responsibility for keeping the complex in good repair and condition.
Cr Carter said there were no staff casualties as a result of Rockhampton Regional Council leasing out the Gracemere Saleyards facilities.
He said the new operator did not offer previous staff positions, but all who worked there for the council had been offered “equivalent or higher-level positions” within the council.
“We’ve been able to accommodate all the staff that were working there,” he said.
Cr Carter said the council would not monitor the commitment of the $14 million spend, but would “take an interest in it”.
“They are experienced in running a number of these facilities and have a good reputation with the industry – to be honest I expect there would be an improvement in the level of service because of the level of their expertise,” Cr Carter said.
Regional infrastructure director Garry Edwards said the council expected the improvements made to the facility would increase stock throughput and local vendors, buyers and agents would benefit financially in the immediate and long term from having a state-of-the-art facility in their region.