A lease of Crown Land gives exclusive use over a particular piece of land for a specified term and purpose. Generally, leases are sought over Crown Land where longer-term security is important, such as for commercial purposes.
Leases are bought and sold in the same way as freehold property. The purchase of a lease gives the buyer perpetual access to the improvements on the leased land and the right to lease the land from the State.
Please note that existing leases are eligible for purchase as a freehold title upon application to the Agency.