Marinus Link Pty Ltd (MLPL) has commenced presenting Easement and Lease Option Deeds to Victorian landholders impacted by the Marinus Link project.
This work follows the completion of valuations undertaken by independent property valuers, Acumentis, in accordance with the Land Acquisition Compensation Act 1986 (Vic). These valuations ensure landholders are fully and fairly compensated for any loss in market value of their land, as well as other impacts and disturbance caused by the project.
If the Option Deed is accepted and signed by a landholder, it grants MLPL the option to acquire an easement on the property. It also allows MLPL to enter into a lease for construction activities and ongoing operation and maintenance of the project’s transmission infrastructure.
The Option Deed also allows MLPL to access land for the purpose of undertaking any further survey work required prior to construction, in accordance with the Land Access Code of Practice (Vic).
Importantly, landholders will still own the land covered by the easement and the land can continue to be used as it is currently, with some restrictions on certain activities due to the buried cables.
Once an Option Deed is signed, executed and all necessary consents have been received by MLPL, landholders receive a non-refundable Option Payment within 60 business days.
Further payments referred to as Easement Payments and Construction Lease Payments will be due after the project receives the go ahead and the Option Deed is exercised.
The Construction Lease Payment is to cover occupation of the construction area and use of access tracks for a period of up to six years (five years for construction and one year for rehabilitation of the land).
Once construction is complete, easements will be registered on property Titles and then landholders hosting transmission infrastructure will be eligible for ongoing payments as per the Victorian Government policy.
Given the complex nature and legal ramifications of the Option Deed and associated documents, MLPL is encouraging landholders to seek their own legal and/or other professional advice. To assist with this, MLPL is providing all impacted landholders with an upfront, non-refundable ‘Contribution to Professional Fees’ payment to cover any professional service expenses incurred during the negotiation process, if required.
In addition, MLPL will continue to actively engage with landholders or their legal representative to make sure the terms of the Option Deed are clearly understood, to refine terms, negotiate compensation offers and ultimately seek a suitable outcome for all involved. For information about how MLPL will work with landholders, please visit https://www.marinuslink.com.au/wp-content/uploads/2024/04/Landholder-Information-Pack-Marinus-Link-April-2024-WEB.pdf