❓ Hon. Norman Moore questions the Minister for Planning and Infrastructure about the government's approach to leasing office space at the William Street site, specifically regarding cost transparency for potential bidders. The Minister clarifies the process and assures that rental costs will be based on market value and fully disclosed.
AnsweredQoN 855Legislative Council
QuestionView source ↗
I refer the minister to the sale process for the William Street site and her explanation that the government has not set the price it is willing to pay to lease office space. (1) Will the minister explain how the government can offer to take up office space without knowing the cost? (2) Will the minister indicate how potential bidders will be able to place a commercial value on the site without knowing the limits of the government’s offer? Hon ADELE FARINA
AnswerView source ↗
I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
(1) Will the minister explain how the government can offer to take up office space without knowing the cost? (2) Will the minister indicate how potential bidders will be able to place a commercial value on the site without knowing the limits of the government’s offer? Hon ADELE FARINA replied: I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
(2) Will the minister indicate how potential bidders will be able to place a commercial value on the site without knowing the limits of the government’s offer? Hon ADELE FARINA replied: I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
Hon ADELE FARINA replied: I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
(1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
(2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
(1) Will the minister explain how the government can offer to take up office space without knowing the cost? (2) Will the minister indicate how potential bidders will be able to place a commercial value on the site without knowing the limits of the government’s offer? Hon ADELE FARINA replied: I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
(2) Will the minister indicate how potential bidders will be able to place a commercial value on the site without knowing the limits of the government’s offer? Hon ADELE FARINA replied: I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
Hon ADELE FARINA replied: I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
I thank the member for some notice of this question. (1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
(1) The second phase of the 140 William Street property disposal process is for three bidders - to be selected following consideration of the invitation for expressions of interest - to submit proposals to develop the site and tender a price to be paid for the land. The bidders will be provided with a request for proposal document that will nominate the initial rent to be paid by the government as part of a standard commercial lease. The rent will be based on reasonable market value. (2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
(2) The limit of the government’s offer will be fully declared in the request for proposal stage. The rental of office space is only one component that bidders will consider in order to make an offer for the purchase of the property.
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