State Administration Centre

Ms CHAPMAN (Bragg—Deputy Leader of the Opposition) (14:27): My question is to the Treasurer. When does the government expect to settle on the sale of the State Administration Centre, and will he inform the house if there are any pending legal proceedings in respect of the sale?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy) (14:28): The sale of the State Administration Centre precinct was subject to a structured competitive sales process with full legal and probity oversight. An EOI was released to the market on 31 March 2015, with the EOI closing on 7 May 2015. After a short-listing process, exclusive negotiations had been taking place with a preferred bidder. Since July 2015, these exclusive negotiations have now ceased. The state, in going to a preferred bidder process, reserved its right to enter into negotiations with any other party, including other short-listed bidders, or to re-release the State Administration Centre to the market.

On 26 November 2015, exclusive negotiations with a revised preferred bidder were entered into. The sale process is yet to conclude. Settlement is expected to occur prior to 30 June 2016. Our sales adviser, JLL, has advised that these processes are not unusual in large property transactions and, due to the commercial-in-confidence nature of the process, I am unable to say anything further about the status of the State Administration Centre sale negotiations.

Mr Marshall: Are there any legal proceedings?

The Hon. A. Koutsantonis interjecting:

The SPEAKER: Treasurer?

The Hon. A. Koutsantonis interjecting:

The SPEAKER: You don't wish to comment on the legal proceedings. The member for Wright.