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15. Operating leases

2019

$'000

2018

$'000

Within one year

221

211

Later than one year but not later than five years

249

470

470

681

The Group entered into a non-cancellable property lease (for its premises at 1 O’Connell St, Sydney) effective from 1 August 2016 with a term of five years. Fixed rental provisions within the lease agreement require that the minimum lease payments shall be increased by 4.25 per cent per annum.

The Group entered into a non-cancellable parking lease effective from 1 August 2016 with a term of five years, which is subject to market review increases.