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The Academy of Interactive Entertainment Ltd (AIE Ltd) gives Canberra Business Parks (CBP) to the ACT Government FOR IMMEDIATE RELEASE - 04 July 2008 In a recent development, AIE Ltd’s wholly owned subsidiary Canberra Business Parks Pty Ltd (CBP), have handed over, Downer Business Park, Narrabundah Business Park and The John Knight Centre in Erindale, to the ACT Government who will continue operation of the three [3] parks. CBP increased the sites occupancy rate to close to capacity (increasing it from an original unviable occupancy rate of 45%). Local entrepreneurs Vicki and John De Margheriti rescued the parks in March 2005 when the previous operators Capital Region Enterprise and Employment Development Association (CREEDA) went into provisional liquidation. The De Margheriti’s took on a significant risk with the uncertain leasing climate they were operating under, and the necessary investment they had to make to turn the parks around. CEO, Vicki De Margheriti commented “Supporting small business growth has always been a passion of ours, having been involved for over 20 years running several small enterprises. Small businesses need all the help they can get, which is why we took on the parks, in 2005. CBP sites are now home to approximately eighty small businesses and a viable enterprise. The CBP name and associated brands, including the good will we have built up and the capital improvements (with over $350,000 invested in the sites), are a genuine gift from AIE to the Canberra Business Community. We have been unable to secure ongoing leasing terms despite years of negotiations and assurances. The ACT Government assumed operation of this now commercially viable business on 31 May 2008 and the CBP sites viability and future entrusted to the ACT Government”. All CBP tenants were notified of the new arrangements before the handover took place and ACT Property has been managing CBP for approximately one [1] month. AIE Limited continues to run the successful Canberra Technology Park (CTP) in Watson which seeks to create synergy for information technology and related businesses by bringing them together. Media Contact: Adam Shaw |
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