Parramatta asset sales to fund infrastructureThe Hon Dominic Perrottet MP, Minister for Finance and Services announced last week that the former Blood Bank Building at 4 George Street and the Justice Precinct Offices building at 160 Marsden Street Parramatta are to be sold. Currently the Department of Public Prosecutions occupies 4 George Street and various Department of Justice agencies are located within the Justice Precinct Offices building at 160 Marsden Street. The sale of the buildings will be offered with a lease back to the government for a period of up to 12 years so that services can continue to operate as normal. The proceeds from the two buildings will free up funds that can be directed into NSW government programs which will benefit the community as a whole, such as WestConnex and road upgrades. The Property Council supports the proposed sales. The NSW Government’s sale of property assets frees up capital from assets that can be effectively owned and managed by the private sector. The proceeds can be invested in infrastructure, fuelling jobs and growth. To read the media release, click here.
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