Asset Sale and Unsolicited Bids Update

Asset Sale and Unsolicited Bids UpdateThe Property Council is taking a leading role in informing the property industry about the government’s land asset sales program and proposed unsolicited bids process, following is an update:The ProgramWA Lands Minister Terry Redman, who is spearheading the process, hopes to raise $268 million from total land sales.The Government, through the Department of Lands, has launched a program of surplus or underutilised land asset sales to reduce State debt and return revenue.The land asset sales process is driven by the principle that the sale of Government assets has the potential to utilise assets for a higher and / or better use in a way that unlocks the full potential of the asset for the betterment of Western Australia.The PipelineA number of properties are currently available on the market with licenced real estate agents appointed to manage the sale and who should be the FIRST POINT OF CONTACT if you are interested in buying a property.The list of available properties and real estate contacts can be found here: http://www.lands.wa.gov.au/Crown-Land/Land-Asset-Sales/Pages/Land-being-marketed-for-sale.aspxLand declared as surplus to Government requirements is currently being prepared for disposal and sale on the market. The Department of Lands is working to ensure that these sites are evaluated and have been appropriately de-constrained. Once appropriate site work has been undertaken, the properties will be available: http://www.lands.wa.gov.au/Crown-Land/Land-Asset-Sales/Pages/Land-being-prepared-for-future-sale.aspxThe Department of Lands also has a list of properties that will soon be available for sale soon. Properties are located in Claremont, Perth, Ocean Reef and Fremantle. If you are interested in these properties, confidentially register your interest at [email protected] bids The WA Government has also revealed that a new framework for unsolicited bids to purchase government-owned land assets will be introduced later this year. The introduction of an unsolicited bids framework was suggested by the Property Council so that the government could fairly receive bids from the property industry for land and property assets that have not been identified by the Government’s sales process. Until the unsolicited bids framework is released, parties interested in unidentified land should contact the Land Asset Management Unit on: 08 6552 4700