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2007 February Report of the Auditor General of Canada
Exhibit 8—Lease sample: Summary analysis
|
Location |
Year occupancy began |
Current lease term |
Current lease start date |
Sole-source |
Type of lease |
Annual base rent |
Rental rate per square foot (office) |
|---|---|---|---|---|---|---|---|
|
Prospector Building, |
1989 |
10 years |
Dec 2000 |
Yes |
Net |
264,750 |
17.65 |
|
Keith Plumbing Building, |
1978 |
10 years |
Jan 2003 |
Yes |
Net |
703,859 |
14.50 |
|
9010 Quartz Road |
2003 |
10 years |
July 2003 |
Tendered in 2002 |
Gross |
927,343 |
35.12* |
|
Lynn Building, |
1983 |
3 years |
April 2004 |
Yes |
Net |
369,600 |
19.00 |
|
3rd Floor Shoppers Plaza, 211 Main Street |
1987 |
3 years |
April 2004 |
Yes |
Net |
119,844 |
18.00 |
|
Old Court House, Dawson City |
1995 |
2 years |
Sep 2005 |
Yes |
Net |
68,538 |
7.62 |
|
New Cambodia Building, |
2005 |
3 years |
Oct 2005 |
Yes |
Gross + security & custodial |
46,000 |
25.00 |
|
Professional Building, |
1991 |
3 years |
Mar 2006 |
Yes |
Net |
106,624 |
16.00 |
|
Financial Plaza, |
1988 |
3 years |
May 2006 |
Yes |
Net |
112,475 |
18.98 |
|
Berska Building, |
1996 |
2 years and 1.5 months |
July 2004 |
Yes |
Gross |
301,769 |
23.67 |
|
*The original rate was $31.14 per square foot. The current rate covers additional space constructed on the second floor of the building. Source: Department of Highways and Public Works Sole-source— A non-competitive procurement accomplished after soliciting and negotiating with only one source. Net lease— A lease whereby, in addition to the base rent stipulated, the lessee pays all or part of the expenses of operating and maintaining the property. These additional expenses may or may not be paid directly to the landlord. Gross lease— A lease that stipulates that the owner pays all expenses, including taxes, insurance, and operating and maintenance expenses, and the tenant pays only the stipulated rent. |