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## 33. Related Party Transactions (continued) 

## (iii) Perth City West Retail Complex 

By a contract for sale dated 31 October 2000, Gerald Harvey, as to a one half share as tenant in common, and a subsidiary of Harvey Norman Holdings Limited, as to a one half share as tenant in common, purchased the Perth City West retail complex for a purchase price of $26.6 million. In the financial report for the year ended 30 June 2003 this has been accounted for as a joint venture entity as disclosed in Note 39(b). This transaction was executed under terms and conditions no more favourable than those which it is reasonable to expect would have applied if the transaction was at arm’s length. The property was purchased subject to a lease of part of the property in favour of a subsidiary of Harvey Norman Holdings Limited (the "Lessee"). That lease had been granted by the previous owner of the property on arm's length normal terms and conditions. Gerald Harvey is entitled to one half of the rental paid by the Lessee. The amount of rental and outgoings paid by the Lessee to Gerald Harvey and the subsidiary of Harvey Norman Holdings Limited for the year ended 30 June 2003 was $1.200 million and for the year ended 30 June 2002 was $1.212 million. 

## (iv) Byron Bay Everglades Resort 

By a contract for sale dated 15 May 2002, Gerald Harvey, as to a one half share as tenant in common, and a subsidiary of Harvey Norman Holdings Limited, as to a one half share as tenant in common, purchased the Byron Bay Everglades Resort for a purchase price of $7.1 million. In the financial report for the year ended 30 June 2003, this has been accounted for as a joint venture entity as disclosed in Note 39 (b). This transaction was executed under terms and conditions no more favourable than those which it is reasonable to expect would have applied if the transaction was at arms length. 

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