❓ Hon Sue Ellery questions the Minister for Planning regarding the Far East Consortium development at Elizabeth Quay, specifically concerning construction commencement, contractual milestones, and revenue for the state.
AnsweredQoN 329Legislative Council
QuestionView source ↗
ELIZABETH QUAY — FAR EAST CONSORTIUM
329. Hon SUE ELLERY to the Minister for
Planning:
I refer to the answer to question
without notice 807 asked last year in relation to the Far East Consortium
development at lots 9 and 10 in Elizabeth Quay.
(1) Has construction commenced on
site as per the agreed contractual milestones?
(2) If no to (1), have negotiations
been completed for new contractual milestones?
(3) What are the
current construction commencement and completion dates, consistent with the
latest contractual milestones?
(4) Given 60 per
cent of apartments have now sold for $281 million, how much revenue will the
state collect from these sales?
329. Hon SUE ELLERY to the Minister for
Planning:
I refer to the answer to question
without notice 807 asked last year in relation to the Far East Consortium
development at lots 9 and 10 in Elizabeth Quay.
(1) Has construction commenced on
site as per the agreed contractual milestones?
(2) If no to (1), have negotiations
been completed for new contractual milestones?
(3) What are the
current construction commencement and completion dates, consistent with the
latest contractual milestones?
(4) Given 60 per
cent of apartments have now sold for $281 million, how much revenue will the
state collect from these sales?
AnswerView source ↗
I thank the member for some notice
of the question.
(1) Construction has not commenced.
(2) No new contractual milestones
are required to be negotiated.
(3) Construction is estimated to
commence in July 2016 and be completed by July 2019.
(4) The state
received $25 million, excluding GST, from the sale of the land—Elizabeth
Quay lots 9 and 10—in December 2015. The state will receive a percentage
of sales revenue above a certain threshold for the sale of the apartments when
the project's practical completion has been achieved.
of the question.
(1) Construction has not commenced.
(2) No new contractual milestones
are required to be negotiated.
(3) Construction is estimated to
commence in July 2016 and be completed by July 2019.
(4) The state
received $25 million, excluding GST, from the sale of the land—Elizabeth
Quay lots 9 and 10—in December 2015. The state will receive a percentage
of sales revenue above a certain threshold for the sale of the apartments when
the project's practical completion has been achieved.
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