New owners of the Queenstown Gardens ice rink are on the hook to spend $500,000 in redevelopment during the next five years.
The upgrade commitment on the 3411sq m Gardens site is a condition of a proposed new lease by Queenstown Lakes District Council to Canadian-born Brian Graham and his sons Ted and Daniel.
The Grahams have taken over the facility from previous owners Firdaus Siddik and Christopher Huck.
The new 40-year lease has five-yearly reviews and “matters to be considered at review” include examining hire rates to local figure skating and ice hockey clubs to ensure they are “reasonable”.
The Grahams will pay QLDC a rental of five per cent of turnover or $10,000 per annum – whichever is more.
The Grahams will also get a five-year rates holiday.
Public submissions on the proposed new lease close on May 14.