Fast Ships wins 49-year lease

Gosford Council has granted Fast Ships a 49-year lease for foreshore land near the toilet block on the Esplanade at Ettalong.
Fast Ships plans to use the land to operate a berthing wharf for the Fast Ferry and requested Council hear the matter in camera to "protect commercially-sensitive information".
Members of the public gallery argued that the lease should be discussed in open council.
Mr Rob Molin addressed Council, said he objected to the meeting being confidential, and asked why councillors had approved the Fast Ferry without details like the lease being finalised.
Mr John Oakley, speaking as a committee member of South Woy Woy Progress Association, said he thought it was a case of "putting the cart before the horse" in that the lease should be agreed to before commercial details were discussed.
Fast Ships had requested extra land south of the toilet block, which drew objections from 141 petitioners.
Consultant for Fast Ships, Mr Matthew Wales, said the company had no objection to the removal of a 30-metre section "in response to community concern".
The closed meeting proceeded, with chairman Cr Malcolm Brooks saying it would be kept to commercial matters only.
Council officers recommended a 15-year term on the lease after the Australian Competition and Consumer Commission had expressed concerns over a 25-year lease, saying that it may be a restriction of trade.
Councillors decided after the confidential meeting that 49 years was more appropriate for the development.
The initial annual rent will be $7920.