Old Petrie Town lease extended

Traders and community groups at Old Petrie Town have been thrown a lifeline after Y Queensland and the City of Moreton Bay mutually agreed to extend lease arrangements at the site until June next year.

The Y Queensland lease at the village was to have ended on December 31, with outlets having been advised their leases would also end.

Many retailers took to social media to express their dismay about the uncertainty surrounding their leases ending, thanking loyal customers and saying they had invested heavily in making their businesses a success.

But this morning’s news, announced by City of Moreton Bay CEO Scott Waters and Y Queensland CEO, extends their leases until the end of the financial year.

A joint statement from Mr Foley and Mr Waters says the ongoing management of the site by Y Queensland will extend from the original lease end date of December 31, 2024, for an additional six months.

Christmas trade

“Y Queensland will subsequently extend all lease arrangements with on-site tenants through to 30 June 2025,” the statement says.

“This extra time will allow for the continuation of business up to, and during, the busy Christmas period and ensure Council and Y Queensland can keep supporting the existing commercial and community sub-tenants as the site transitions back to Council.”
Y Queensland and the City of Moreton Bay have worked together for more than 25 years to activate Old Petrie Town.

“Not only does it provide a livelihood to many, but it has also become a community and is appreciated by locals and visitors alike,” the joint statement says.

“Both Y Queensland and City of Moreton Bay recognise the last two weeks has seen uncertainty in relation to ongoing management at Old Petrie Town.

“The extension of the current management agreement demonstrates our commitment to working together.”
Council’s Economic Development and Community Development teams will continue to help individual businesses and community groups.

A review of the infrastructure at Old Petrie Town will be conducted before the site transitions to Council management.

“This will guide how Old Petrie Town can continue to benefit our community into the future,” the statement says.

“We commit to keeping stakeholder informed throughout this process.”