Last Friday Newcastle Airport signed a landmark agreement with Department of Defence which will see Newcastle Airport’s Head Lease agreement with Defence extended for 60 years with three options of 10 years.
Newcastle Airport’s previous Head Lease expired on 31 March 2045. This new Head Lease expires on 31 December 2075 (or 2105, with the three extension options applied).
On signing the Head Lease, Newcastle Airport’s Chairman, Peter Gesling said that this 60-year agreement provides the certainty required to promote future investment in Newcastle Airport that in turn will result in investment in the Hunter region.
“This is the longest Head Lease agreement offered to Newcastle Airport since the Federal Government handed over the business to Newcastle City and Port Stephens Councils in 1993 and is a clear indication of the very good relationship between Newcastle Airport and the Royal Australian Air Force,” Peter said.
“The signing of this agreement cements Newcastle Airport’s position as the region’s airport.”
Defence’s Director Property Leasing Bruce Bennett also welcomed the new agreement.
“RAAF Base Williamtown plays an important role in maintaining Defence’s capability to protect and serve the nation and the Base also provides a direct benefit to the Hunter region through its partnership with Newcastle Airport,” Bruce said.
Image | Frank Cordingley – Interim Chief Executive Officer, Newcastle City Council, Wing Commander Amanda Cornell – Commanding Officer No 26 (City of Newcastle) Squadron and Air Base Executive Officer, RAAF Base Williamtown, Wayne Wallis – General Manager, Port Stephens Council