Ministerial Statement

State Administration Centre

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy) (14:15): I seek leave to make a ministerial statement.

Leave granted.

The Hon. A. KOUTSANTONIS: The sale of the State Administration Centre precinct has been the subject of a structured competitive sale process with full legal and probity oversight. As previously advised, on 26 November 2015 the government entered into exclusive negotiations with a preferred bidder, Commercial & General. Settlement was expected to occur on 25 October 2016. The state was ready to settle at that time. Settlement did not eventuate

Settlement was then expected to occur yesterday, 15 November at 11.30am. Officers from the government were present at the Lands Titles Office yesterday in anticipation of achieving settlement. However, the purchaser did not attend. The government understands that the purchaser has several outstanding issues to remedy prior to being in a position to settle. The government was ready to settle on 25 October 2016 and also yesterday. The state is considering its position. Given the commercial confidentiality of this transaction, no further details can be provided at this time.