Australia Post’s 999-year lease in North Melbourne revealed by Melbourne City Council

Thinking about one day renting the heritage premises at 70 Errol Street, North Melbourne tenanted by Australia Post?

Take a number. Better yet wait 868 years, as only 131 years of the lease has gone.

According to the Melbourne City Council book on lease agreements, recently opened to public inspection, Australia Post has the lease on the premises (pictured below) until 2881.

And that’s not a typo.

postofficemay13one

According to The Age’s city editor Jason Dowling, lord mayor Cornelius Job Ham signed a 999-year lease with Australia Post in 1882.

Melbourne City Council finance committee chairman Stephen Mayne called the lease agreement “ridiculous” and said it should be renegotiated.

Image courtesy of Travel Victoria.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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