WA Unsolicited Bids Guideline adopted
In welcome news the WA Government has adopted the unsolicited bid guideline for the sale or lease of state-owned land, which was advocated by the Property Council.
The Government has correctly judged that the guideline will unlock much needed private sector innovation and investment in WA.
Most of the other states have a similar guideline and it is vital that WA takes these measures to remain competitive and broaden the economy.
Importantly, the guideline emphasizes the importance of development related to an unsolicited bid.
The Guideline will certainly assist in the strategic objective to keep WA growing through property development and investment.
The Government consulted with the Property Council in structuring the guideline, which also requires a private bidder to show that the community receives fair value and a bid is in the interest of the state.
We acknowledge the Minister for Lands, the Hon. Terry Redman’s willingness to engage with the private sector in adopting the guideline for unsolicited bids.
For more information about the Property Council’s consultations with the Government in formulating the Guideline please call Lino Iacomella, Property Council WA Deputy Executive Director on 0417 1974.
You can access the guideline from the Department of Lands www.lands.wa.gov.au