Credit: Andy Wang via Unsplash
Sydney Olympic Park Authority is seeking an out-of-home operator to run and manage seven roadside advertising billboards along the M4 Motorway and key Sydney arterials, AdNews can reveal.
The portfolio covers the M4, Australia Avenue and Homebush Bay Drive, corridors feeding into a precinct that draws 12 million visitors a year across more than 5,000 events.
The panels have been running advertising since 1984.
The winning operator takes a seven-year term from July 1 this year to June 30, 2033, with a three-year extension option to June 30, 2036.
The fee model combines a guaranteed minimum annual rent per sign, escalating at 3% each year, with a revenue share off total gross advertising sales, paid within 30 days of each fee year's end where sales exceed the minimum.
Operators can propose upgrading static panels to digital at their own cost, with SOPA's written consent required for any conversion.
Any digitally upgraded sign transfers to SOPA ownership at no cost at the end of the term.
The contract also requires the operator to give priority consideration to major event sponsors at the precinct, including the Royal Easter Show and international concerts, with a 60-day window to negotiate advertising arrangements with those sponsors on unsold panels.
One existing digital sign, N511 on Homebush Bay Drive, reverts to static at the end of the current term.
That sign carries added complexity the contract addresses directly: Transport for NSW road upgrade works at the Homebush Bay Drive roundabout, scheduled for 2027, may force relocation during the contract.
The agreement states the operator accepts no further compensation from SOPA should that occur.
Proposals are due by 3pm on June 10 and enquiries close June 3.
The tender runs alongside a separate Transport for NSW process seeking an out-of-home operator for 96 roadside assets across metro and regional NSW, which closes July 8, putting two NSW Government out-of-home portfolios on the market within weeks of each other.
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