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Thursday, 25 June 2009
Page: 7147


Mr COMBET (Minister for Defence Personnel, Materiel and Science and Minister Assisting the Minister for Climate Change) (9:01 AM) —On behalf of the Parliamentary Secretary for Defence Support, I move:

That, in accordance with the provisions of the Public Works Committee Act 1969, it is expedient to carry out the following proposed work which was referred to the Parliamentary Standing Committee on Public Works and on which the committee has duly reported to Parliament: Fit-out of new leased premises for the Australian Securities and Investments Commission in Sydney.

The Australian Securities and Investments Commission proposes to undertake a fit-out of new office accommodation at 100 Market Street in Sydney and to relocate all Sydney staff to these premises. ASIC currently occupies tenancies at 1 Martin Place, 77 Castlereagh Street and 55 Market Street, and short-term project space at 130 Pitt Street. The lease for the largest tenancy, at Martin Place, expires in June 2010.

The proposed fit-out is for 18,575 square metres over six contiguous floors at 100 Market Street. This will provide a single tenancy for all current and projected Sydney staff and will result in increased operational effectiveness. The fit-out will result in a flexible, efficient, collaborative and contemporary work environment which reflects current industry standards and accords with ASIC’s policies in relation to security of staff and information, and occupational health and safety. The estimated cost of the integrated fit-out is $37 million plus GST, including $2.92 million for security and $5.02 million for IT and communications infrastructure. The costs will be offset by a substantial lessor contribution to fit-out negotiated as part of the new lease.

In its report the Public Works Committee recommended that these works proceed. Subject to parliamentary approval, the planned integrated fit-out will maximise efficiencies in cost and time and will allow the fit-out works to commence in June 2009, this month. This will in turn allow ASIC to take occupation before the lease expires at 1 Martin Place, 77 Castlereagh Street and 55 Market Street in June 2010. On behalf of the government, I would like to thank the committee for its support. I commend the motion to the House.