Saleyards deal worth $1.85m
ROCKHAMPTON Regional Council has been paid $1.85 million from a private contractor for the right to run Gracemere Saleyards.
The deal, revealed today, includes some plant, equipment, stock and associated leases.
In addition the council will receive $100,000 a year – increasing annually by the rate of inflation – as a lease fee during the 30-year agreement with NSW-based Regional Infrastructure, with an additional $250,000 transition fee paid over 30 months, which means in the first three years the council will be paid $550,000.
The company will also spend $14 million on improvements to the complex over the period of the lease.
The council retains ownership of the saleyards complex which had run at a loss for many years.
In addition the council will save $700,000 a year in staff wages and other running costs.