MARINA leases along the NSW coast may be extended in exchange for a commitment to upgrade them, the state government has announced.
Minister for Lands and Water Kevin Anderson visited Port Stephens on Tuesday, announcing the overhaul to arrangements at Soldiers Point.
He said the change would allow for better marinas as well as greater certainty for operators.
"The newly simplified marina leases will help remove red tape, provide greater investment incentives, and deliver world-class boating and waterfront precincts for the benefit of local communities, businesses and visitors," Mr Anderson said.
"The changes will also secure fair market rents on these sites with the funds to be reinvested back into the Crown estate for the benefit of all NSW residents."
The change follows a recent review, and means the standard term of a marina lease doubles from 20 years to 40 years.
Marina operators will be able to extend their tenure if they meet conditions, including a minimum reinvestment.
Rent calculations, including the rationale behind charges and a full breakdown will also be made publicly available through Crown Lands.
Boating Industry Association president Andrew Fielding said the changes would support industry and the regions.
"The leasing reforms will create a framework where marina operators and investors can deliver important privately-funded public infrastructure with confidence, while greatly improving their offerings to boaties and the broader community," Mr Fielding said.
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