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Legislative Council - Fifty-Second Parliament, Second Session (52-2)
2012-03-14 Daily Xml
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LAND MANAGEMENT CORPORATION

325 The Hon. D.G.E. HOOD (14 September 2011) (First Session).

1. Will the Minister for Infrastructure confirm a reference on the Land Management Corporation website which indicates that in January of this year the Corporation released a tender for the sale of 206 hectares of land at Blakeview?

2. Will the Minister assure South Australians that the Land Management Corporation will sell the land outright ensuring an immediate return of funds to South Australians and not enter into joint ventures with specific developers regarding this land?

The Hon. G.E. GAGO (Minister for Agriculture, Food and Fisheries, Minister for Forests, Minister for Regional Development, Minister for Tourism, Minister for the Status of Women): The Minister for Transport and Infrastructure has been advised:

1. The Land Management Corporation (LMC) released 206 hectares at Blakeview to the market in January 2011. As noted in the answer to Question On Notice 324 the Fairmont Group has been successful in their tender for 107 hectares of the land released to the market.

There was no successful tender for the balance of the land at Blakeview. However, it is proposed that the balance of this land will be released to the private sector as market conditions dictate.

2. The terms and conditions of the tender provided private sector developers with a range of alternative land payment options to assist them to undertake residential development at Blakeview in light of the considerable difficulties private sector developers are experiencing in accessing finance. These options included:

(a) Purchase of the whole of the land with the purchase price paid in one lump sum payment at settlement.

(b) Purchase of the land in stages with the purchase price paid by a series of lump sum payments at the settlement each stage.

(c) Under the grant of a licence to occupy and develop the land requiring payment of:

a lump sum development fee; and

an agreed percentage of the revenue from the sale of each allotment.

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