macquarie tower office in $2m rent rise

Nathan Rees' Governor Macquarie Tower office in $2m rent rise
Article from: The Daily Telegraph

By Simon Benson, State Political Editor

March 12, 2009 12:00am

THE NSW Government will pay among the highest commercial rents in the land to keep Premier Nathan Rees and ministers in their plush Harbour-view city offices.

The Daily Telegraph has learned Governor Macquarie Tower landlords will demand rent rises in 2009 where taxpayers will pay between $835 and $916 a square metre, double the average rent paid by leading corporations such as Macquarie Bank, Westpac, and HSBC which pay $400-$500 a sqm.

Taxpayers face up to $2 million a year rises in rent, bringing the annual cost to keep this Government in the life to which it has become accustomed to $20 million a year or $55,000 a day.