❓ Mr. Buswell questions the government about the 140 William Street site sale to Evolution Consortium, specifically regarding the sale price, Albert Facey House leaseback, and the impact of rental commitments. Ms. MacTiernan avoids direct answers, praising superannuation benefits and defending the negotiation process.
AnsweredQoN 636Legislative Assembly
QuestionView source ↗
140 WILLIAM STREET - EVOLUTION CONSORTIUM
I refer to the government’s appointment of the Evolution Consortium as the preferred proponent for the 140 William Street site. (1) How much is the government expecting to receive for the sale of the site? (2) Does the proposal include the sale and leaseback of Albert Facey House; and, if so, for how much? (3) What premium did the government attract for the sale by committing to more than $5.2 million in annual rental payments? Ms A.J.G. MacTIERNAN
I refer to the government’s appointment of the Evolution Consortium as the preferred proponent for the 140 William Street site. (1) How much is the government expecting to receive for the sale of the site? (2) Does the proposal include the sale and leaseback of Albert Facey House; and, if so, for how much? (3) What premium did the government attract for the sale by committing to more than $5.2 million in annual rental payments? Ms A.J.G. MacTIERNAN
AnswerView source ↗
I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
(1) How much is the government expecting to receive for the sale of the site? (2) Does the proposal include the sale and leaseback of Albert Facey House; and, if so, for how much? (3) What premium did the government attract for the sale by committing to more than $5.2 million in annual rental payments? Ms A.J.G. MacTIERNAN replied: I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
(2) Does the proposal include the sale and leaseback of Albert Facey House; and, if so, for how much? (3) What premium did the government attract for the sale by committing to more than $5.2 million in annual rental payments? Ms A.J.G. MacTIERNAN replied: I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
(3) What premium did the government attract for the sale by committing to more than $5.2 million in annual rental payments? Ms A.J.G. MacTIERNAN replied: I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Ms A.J.G. MacTIERNAN replied: I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
(1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
(1) How much is the government expecting to receive for the sale of the site? (2) Does the proposal include the sale and leaseback of Albert Facey House; and, if so, for how much? (3) What premium did the government attract for the sale by committing to more than $5.2 million in annual rental payments? Ms A.J.G. MacTIERNAN replied: I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
(2) Does the proposal include the sale and leaseback of Albert Facey House; and, if so, for how much? (3) What premium did the government attract for the sale by committing to more than $5.2 million in annual rental payments? Ms A.J.G. MacTIERNAN replied: I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
(3) What premium did the government attract for the sale by committing to more than $5.2 million in annual rental payments? Ms A.J.G. MacTIERNAN replied: I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Ms A.J.G. MacTIERNAN replied: I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
I thank the member for the question. (1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
(1)-(3) It was very interesting at a breakfast this morning that Australian Property, the peak body for Australian property developers and the finance industry, praised the impact of the work of Paul Keating and the federal Labor government when it created superannuation schemes. The economist gave great focus to the amount of money that is now available within Australia for the development of infrastructure from that very far-sighted program requiring superannuation for every Australia worker. We in Western Australia are now beginning to see the benefit of that, as now there is a new player in the provision of infrastructure in Western Australia; that is, Cbus. I am very pleased to see that that player has been able to enter our market and provide a very attractive proposition to government. Of course I will not at this point of negotiations go into issues such as sale price. What we have done - Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Several members interjected. The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
The SPEAKER : Order, members! Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Ms A.J.G. MacTIERNAN : Mr Speaker, whether it is a road building contract or a sale such as this, the process is that we go out for an open tender process, we assess the tenders, we declare a preferred proponent and we then go into detailed negotiation with that preferred proponent. We will certainly not conduct those negotiations in public. The government publicly announced at the time it went to tender that it would include within the development of 140 William Street the possible opportunity to acquire Albert Facey House, because there are potentially very great benefits to the state government in linking those two facilities. That has not been decided. It was included in the arrangement as an option and we will embrace it provided the arrangement is what the government considers to be a commercially good deal. The government does not in any way apologise or resile from what I consider to be a very sensible decision to establish a precommitment for rent. If members have any idea of what is happening to the commercial property market, they will know that there is enormous demand for it. We could see that coming, so we knew that, as the landowner, we wanted to be able to leverage - Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Mr T. Buswell : It is a nonsense. The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
The SPEAKER : Order! I call to order the Deputy Leader of the Opposition for the third time. Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
Ms A.J.G. MacTIERNAN : We knew we needed that office space, so we wanted to make sure that the benefit of that precommitment was reflected in the value of the land we were selling. We noted the comments of the member for Vasse, who said that because it was Cbus Super, a superannuation fund that had union connections, the arrangement was suspect. All he had to hear was the word “union” to conclude that the deal stinks. The government is very proud of the Labor Party’s record of establishing superannuation funds and it has no problem whatsoever with union members being part of those superannuation funds.
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