158 Francisco Street, Belmont – Rent Review Schedule

Updated 30 Oct 2026 · Source: leases and deeds in the Shared Drive (Business / 158 Francisco St), checked against Xero invoices · Amounts are monthly, ex GST

Next rent review

1 Nov 2026

Unit 1 (WADC): fixed 3% to $3,275.40

Next expiry

31 Mar 2027

Unit 4 (Eurofins APAL). Send the renewal email by 31 Dec 2026

Open item

Check Unit 1 lease

2025 WADC lease is marked DRAFT. Confirm it is signed

Lunch bar

$4,206.99 / mo

Current rent under the 2026 lease. Next 4% on 1 May 2027

Review dates, rent to charge and status

Applied Next review Market Waived / held

Unit / tenant	Review date	Review type	Rent to charge	Status
Unit 1 WADC Pty Ltd 2025 lease (file marked DRAFT), term 1 Nov 2025 – 31 Oct 2028 Extension Extension & variation letter, 13 Oct 2022	1 Nov 2026	Fixed 3%	3,275.40	Next review November invoice issued at $3,180.00. Supplementary charge of $95.40 ex GST needed.
	1 Nov 2027	Fixed 3%	3,373.66	Scheduled
	1 Nov 2028	Market	Set by market review	Clause 6 applies: landlord notice, then independent valuer if disputed.
	1 Nov 2029	Fixed 3%	3% on 2028 rent	Scheduled Other review date, in the first option period.
	Lease expiry: 31 Oct 2028 (option to 31 Oct 2030)
Unit 2 ProMinent Fluid Controls Pty Ltd Deed of Extension 2025, term 1 Aug 2025 – 31 Jul 2028 Extension Deed of Extension 2025 (executed)	1 Aug 2026	Fixed 2%	3,183.63	Applied Confirmed in Xero. Market review on 1 Aug 2025 held the rate at $3,121.20.
	1 Aug 2027	Fixed 2%	3,247.30	Next review 2% on $3,183.63.
	1 Aug 2028	Market	Set by market review	Only if the further option term is taken (to 1 Jul 2031).
	1 Aug 2029	Fixed 4%	4% on 2028 rent	Scheduled Further option term.
	1 Aug 2030	Fixed 4%	4% on 2029 rent	Scheduled Further option term.
	Lease expiry: 31 Jul 2028 (further term to 1 Jul 2031 per draft deed)
Unit 3 Westrade Renovations and Maintenance Pty Ltd Lease 1 Oct 2024 – 30 Sep 2027; option to 30 Sep 2030 Extension None in the lease folder	1 Oct 2025	Fixed 3.5%	3,333.33	Waived Owner decision. No increase.
	1 Oct 2026	Fixed 3.5%	3,333.33	Waived Owner decision. No increase.
	1 Oct 2027	Market	Set by market review	Starts the option term.
	1 Oct 2028	Fixed 3.5%	3.5% on 2027 rent	Scheduled Option term.
	1 Oct 2029	Fixed 3.5%	3.5% on 2028 rent	Scheduled Option term.
	Lease expiry: 30 Sep 2027 (option to 30 Sep 2030)
Unit 4 Eurofins APAL Pty Ltd Lease 13 Aug 2024; current extension 1 Apr 2026 – 31 Mar 2027 Extension Option renewal, 12 months (1 Apr 2026 – 31 Mar 2027)	1 Oct 2025	Greater of CPI or 4%	3,781.99	Applied Invoices rose from $3,496.66 (+8.2%). Check the CPI figure used.
	1 Oct 2026	Greater of CPI or 4%	3,781.99	Held Held at current rate under the extension, per owner.
	Lease expiry: 31 Mar 2027
Unit 5 ENSCO Rail Australia Pty Ltd Lease 13 Sep 2021; option exercised, term to 31 Dec 2027 Extension Option acceptance, 16 Oct 2024	1 Jan 2025	Market	4,601.13	Applied Per invoices from June 2025.
	1 Jan 2026	Fixed 1.5%	4,601.13	Waived Owner decision. No increase.
	1 Jan 2027	Fixed 1.5%	4,670.15 if applied	Next review Confirm whether the waiver extends to this date.
	Lease expiry: 31 Dec 2027
Lunch bar Thi Thuy Hang Nguyen t/a Frisco's Lunch Bar New lease: commencement 1 May 2026, term to 30 Apr 2029; further term to 30 Apr 2032	1 May 2027	Fixed 4%	4,375.27	Next review Current rent $4,206.99 ex GST, which matches the invoices. Annual rent $50,483.88.
	1 May 2028	Fixed 4%	4,550.28	Scheduled Annual review on each anniversary of commencement.
	1 May 2029	Fixed 4%	4,732.29	Scheduled Also starts the further term.
	Annual 4% on 1 May each year through 2032.
	Lease expiry: 30 Apr 2029 (further term to 30 Apr 2032)

Invoice check against Xero

Westrade (Unit 3). The 3.5% increases due 1 Oct 2025 and 1 Oct 2026 were waived by owner decision. No amount is owed.
ENSCO (Unit 5). The 1 Jan 2026 increase was waived by owner decision. No amount is owed.
ProMinent (Unit 2). Per owner and the OCR'd lease: $36,000 plus GST a year, 2% on 1 Aug 2023 and 1 Aug 2024, the 1 Aug 2025 market review held the rate, then 2% on 1 Aug 2026 and 1 Aug 2027. Invoices match this. The draft 2025 deed's $40,000 figure does not match, so check Item 6 of the executed deed.
WADC (Unit 1). The Xero contact is "WADC Pty Ltd ATF WADC Unit Trust", while the lease tenant is "WADC Pty Ltd". Confirm the invoiced entity matches the lease.

Points to check

Unit 1. The 2025 WADC lease is marked DRAFT and the text shows no signatures. Confirm it was signed.
Unit 2. The OCR'd lease confirms the review pattern. Clause 2.5 sets a minimum-rent floor, so a market review can hold the rate.
Unit 4. The 1 Oct 2026 review is held under the extension to 31 Mar 2027, per owner. The extension terms are not in the files.
ENSCO. Confirm whether the waiver also covers the 1 Jan 2027 review.

Superseded deeds and leases

Unit 1 – WADC lease 1 Nov 2020; 10 Aug 2018 extension letter; 2018 and 2022 extension letters (expired or superseded by the 2025 lease).
Unit 3 – Mine Site Technologies 2018 extension and 2019 deed (expired 28 Feb 2025); Bilby3D lease 2020 (superseded by the Westrade lease from 1 Oct 2024).
Unit 4 – Eurofins APAL 2022 option email and 6-month option (superseded).
Unit 5 – ENSCO 2024 intention letter and 2018 option letter (superseded).
Lunch bar – 2015 lease and 2021 deed of extension (superseded by the 2026 lease, which is the only current agreement).
Unit 2 – SPW lease options 2016 and 2018 (historical).