How we set percentage of revenue fees

We take a case-by-case or bespoke approach to setting annual activity fees based on a percentage of revenue. This allows us to find a method that works well for each individual concessionaire’s circumstances.

For existing concessions, we will continue to assess whether any market conditions have changed since the percentage was applied at each three-yearly rent review.

For new agreements, we will apply similar percentages to similar activities with this case-by-case approach.

We no longer use the Percentage of Revenue Framework

Following the percentage revenue framework (PRF) review in March 2022, we no longer use the Percentage of Revenue Framework to determine activity fees.

The review determined that the framework was not helpful or realistic and too complex for us to continue to use.