❓ Hon Stephen Dawson questions the Minister for Lands regarding the sale price of two lots in Karratha to Finbar Group for the Pelago apartment complex, seeking clarification on market value, sale price, and payment dates. The answer reveals the lots were sold below the estimated market value, with Finbar responsible for site servicing.
AnsweredQoN 996Legislative Council
QuestionView source ↗
PELAGO APARTMENT COMPLEX — 2010 LAND SALES
996. Hon
STEPHEN DAWSON to the parliamentary secretary representing the Minister
for Lands:
I refer to the statement by Hon Brendon Grylls on 21 April
2010 concerning LandCorp's sale of two lots of land in Karratha to
Finbar Group Pty Ltd for what was to become the Pelago West and Pelago East
complexes.
(1) What was the estimated market price of each of the two
lots?
(2) What was the sale price of each of the two lots?
(3) On what date or dates did Finbar make the payments?
996. Hon
STEPHEN DAWSON to the parliamentary secretary representing the Minister
for Lands:
I refer to the statement by Hon Brendon Grylls on 21 April
2010 concerning LandCorp's sale of two lots of land in Karratha to
Finbar Group Pty Ltd for what was to become the Pelago West and Pelago East
complexes.
(1) What was the estimated market price of each of the two
lots?
(2) What was the sale price of each of the two lots?
(3) On what date or dates did Finbar make the payments?
AnswerView source ↗
I thank the honourable member for some notice of this
question.
(1) Valuations
obtained at the time of sale provided a value range of $10.5 million to $13.6 million
for a fully serviced site ready for development.
(2) Both lots
were settled for $7.04 million, including GST, with Finbar required to provide
servicing to the site.
(3) An amount
of $6 720 000 was paid on settlement on 6 December 2010, with a deposit of $320
000 paid on 3 June 2010.
question.
(1) Valuations
obtained at the time of sale provided a value range of $10.5 million to $13.6 million
for a fully serviced site ready for development.
(2) Both lots
were settled for $7.04 million, including GST, with Finbar required to provide
servicing to the site.
(3) An amount
of $6 720 000 was paid on settlement on 6 December 2010, with a deposit of $320
000 paid on 3 June 2010.
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