❓ Mr. Abetz questions the Treasurer about the Perth Market Authority sale. Dr. Nahan responds, outlining the due diligence, market testing, and protections for tenants, noting support from market participants.
AnsweredQoN 543Legislative Assembly
QuestionView source ↗
STATE
FINANCES — ASSET SALES — PERTH MARKET AUTHORITY
543. Mr P. ABETZ to the
Treasurer:
Following the asset sales update provided as part of the
state budget, could the Treasurer please inform the house of the current
situation relating to the state's asset sale program and the sale of
the Perth Market Authority?
Ms M.M. Quirk : Is
that your fire sale?
FINANCES — ASSET SALES — PERTH MARKET AUTHORITY
543. Mr P. ABETZ to the
Treasurer:
Following the asset sales update provided as part of the
state budget, could the Treasurer please inform the house of the current
situation relating to the state's asset sale program and the sale of
the Perth Market Authority?
Ms M.M. Quirk : Is
that your fire sale?
AnswerView source ↗
A fire sale? First of all members opposite accuse us of going
slow, and then it is a fire sale.
Mr P.C. Tinley interjected.
The SPEAKER :
Member for Willagee.
Dr M.D. NAHAN : As
we indicated last year, we are going to examine the sale of the Perth Market
Authority. We have gone through a large amount of due diligence including
appointing Ernst and Young, and Jones Lang LaSalle as the lead financial
advisors to the Perth Market Authority. Today, I announced that early next
month it will go out for market testing to get expressions of interest for the
sale. I might add that this follows on from the sale of similar markets of this
type. The Perth Market Authority is the major wholesale trading and
distribution place for fruit and vegetables and is located in my electorate. It
conducts about $600 million worth of transactions a year and has quite a bit of
land for a whole range of purposes including cold storage. A couple of key
aspects of the sale include that it will continue its activities as the main
fruit and vegetable market for Western Australia and Perth for the next 20 years,
at least, and it will also ensure a whole range of things must be put in place
to ensure that the existing tenants are supported well. The sale process has
been strongly supported by the participants at the market authority.
Mr P. Papalia : How
will you protect the tenants?
Dr M.D. NAHAN : The
member will have to read the specifications. The tenants are supporting the
sale and have been arguing for it for some time. The last major sale was by the
Beattie government in Queensland some 12 years ago. It is going out through
Tenders WA and we look forward to a sale in about six months or so.
slow, and then it is a fire sale.
Mr P.C. Tinley interjected.
The SPEAKER :
Member for Willagee.
Dr M.D. NAHAN : As
we indicated last year, we are going to examine the sale of the Perth Market
Authority. We have gone through a large amount of due diligence including
appointing Ernst and Young, and Jones Lang LaSalle as the lead financial
advisors to the Perth Market Authority. Today, I announced that early next
month it will go out for market testing to get expressions of interest for the
sale. I might add that this follows on from the sale of similar markets of this
type. The Perth Market Authority is the major wholesale trading and
distribution place for fruit and vegetables and is located in my electorate. It
conducts about $600 million worth of transactions a year and has quite a bit of
land for a whole range of purposes including cold storage. A couple of key
aspects of the sale include that it will continue its activities as the main
fruit and vegetable market for Western Australia and Perth for the next 20 years,
at least, and it will also ensure a whole range of things must be put in place
to ensure that the existing tenants are supported well. The sale process has
been strongly supported by the participants at the market authority.
Mr P. Papalia : How
will you protect the tenants?
Dr M.D. NAHAN : The
member will have to read the specifications. The tenants are supporting the
sale and have been arguing for it for some time. The last major sale was by the
Beattie government in Queensland some 12 years ago. It is going out through
Tenders WA and we look forward to a sale in about six months or so.
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