❓ Question regarding the sale of land by Landcorp for a Medihotel in Murdoch, including sale price, conditions, and financial implications. The Minister provided answers and tabled the contract.
AnsweredQoN 4034Legislative Assembly
QuestionView source ↗
I refer to the awarding of the sale of land by Landcorp to build a Medihotel at the Murdoch Activity Centre, and I ask: (a) has settlement now been completed and if not, when is settlement expected to be completed; (b) how much was the land sold for; (c) were any conditions, caveats or other requirements placed on the land and if yes, what are they; (d) did the sale price exceed the expectations of Landcorp, and if so, by how much; (e) if no to (d) how much lower was the sale price than the expected value; (f) did Landcorp request any financial assistance, community service obligation payments or funding from the Government as a result of any uncommercial decisions as a result of this land sale; (g) what value did Landcorp attribute to this land as at 31 June 2016; and (h) will the Minister table the contract for the sale of this land and if not, why not?
AnswerView source ↗
Answered
20 November 2018
Responded by
Minister for Lands
Response time
16 days
(a) Yes
(b) Lot 2 Fiona Wood Road Murdoch sold for $9,240,000
(c) The following limitations, interests, encumbrances and notifications are listed on the certificate of title (the “land”):
1. Easement burden created under section 136 T.L.A for Right of Carriageway Purposes (relates to internal access to Lots 1 and 3)
2. N913366 Caveat by Western Australian Land Authority Lodged 5/6/2018 (relates to LandCorp as chargee and the holder of an option to purchase)
(d) The sale price met Landcorp’s expectations as it was determined by the market via the competitive sales process
(e) Not applicable
(f) No
(g) The land was part of a larger landholding at 30 June 2016, and thus a value was not attributed.
(h) [See tabled paper no.]
(b) Lot 2 Fiona Wood Road Murdoch sold for $9,240,000
(c) The following limitations, interests, encumbrances and notifications are listed on the certificate of title (the “land”):
1. Easement burden created under section 136 T.L.A for Right of Carriageway Purposes (relates to internal access to Lots 1 and 3)
2. N913366 Caveat by Western Australian Land Authority Lodged 5/6/2018 (relates to LandCorp as chargee and the holder of an option to purchase)
(d) The sale price met Landcorp’s expectations as it was determined by the market via the competitive sales process
(e) Not applicable
(f) No
(g) The land was part of a larger landholding at 30 June 2016, and thus a value was not attributed.
(h) [See tabled paper no.]
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