What is the current forecast total cost of the fit-out, tenancy and relocation of the Ministry for Cities, Environment, Regions and Transport (MCERT)?

Answer

I am advised that the current forecast total cost of the fit-out, tenancy, and relocation of the Ministry for Cities, Environment, Regions and Transport (MCERT) is around $19.7 million. This is based on current forecast fit-out and relocation costs, which have not yet been approved. The forecast lease costs exclude potential lease increases resulting from agreed rent reviews, which may increase the lease costs in line with the market. MCERT taking over the Ministry of Education's lease mitigates the double-rent which the Ministry of Education would otherwise pay after relocating to Matauranga House.