Joint Media Release

Government Progresses Its Property Divestment Program

MC 04/15

Senator the Hon. Mathias Cormann
Minister for Finance

The Hon Michael McCormack MP
Parliamentary Secretary to the Minister for Finance

13 February 2015

The Government remains committed to realising the value of Commonwealth property through its property divestment program.

We are now undertaking a scoping study into the divestment options of six Commonwealth properties in Canberra. These buildings are the John Gorton and Treasury Buildings, East and West Block and Anzac Park East and West, all located in the Parliamentary Triangle.

The scoping study will consider alternative uses for the properties, particularly noting their location, cultural and heritage significance. The scoping study will also consider the future ownership of these buildings, taking into account significant ongoing maintenance and refurbishment requirements.

Following a competitive procurement process, PricewaterhouseCoopers has been appointed as commercial adviser and Ashurst has been appointed as legal adviser to assist with the scoping study.

The advisers will provide independent advice to allow the Government to make fully informed decisions on all relevant aspects of the potential divestment of these properties.

Ownership options will be considered in the context of the 2015-16 Budget. Importantly, the Government has not yet made any decisions regarding the timing and structure of any potential sale.

[ENDS]

Media Contact(s): 

For Senator Cormann - Karen Wu - 0428 350 139
For Mr McCormack - Rachel Thompson - 0427 892 500

Senator the Hon Mathias Cormann, Minister for Finance, Perth