House of Assembly - Fifty-Third Parliament, First Session (53-1)
2014-10-14 Daily Xml

Contents

Gillman Land Sale

In reply to Ms CHAPMAN (Bragg—Deputy Leader of the Opposition) (19 June 2014).

The Hon. J.R. RAU (Enfield—Deputy Premier, Attorney-General, Minister for Justice Reform, Minister for Planning, Minister for Housing and Urban Development, Minister for Industrial Relations): I have been advised:

Renewal SA sold a 15.68 hectare parcel of land (Lot 202) within the former Dean Rifle Range to a related party to ACP. Settlement occurred in December 2010. The purchase price of the land sold equates to $40.18 per square metre.

This relates to land in the area with a similar low-lying topography to that which is the subject of the current option deed with ACP; however, it is a smaller parcel and therefore does not require the same level of development by means of access roads, services or the like. There is a general rule in valuations that larger parcels of land have a value that is higher overall, but less on a square metre basis than smaller parcels.

The purchase price of the land, the subject of the option deed, equates to $30 per square metre.