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Wednesday, 25 June 2003
Page: 17613

Mr Kerr asked the Minister Assisting the Minister for Defence, upon notice, on 14 May 2003:

(1) What was the rateable valuation of the land at the Brighton Army Camp that was recently sold by the Department of Defence.

(2) What, if any, other valuations did the Department of Defence or the Department of Finance and Administration obtain before the sale of the land and what were those valuations.

(3) Was the land advertised to potential buyers with an indication that the expected price was in the range of $2 million; if not, what were the terms of the advertisements.

(4) What was the price obtained for the land and are reports that this large area of land was sold for approximately $150,000 correct.

(5) If the land was sold for substantially less than $2 million, why did the responsible Departments proceed with the sale for much less than the land's valuation.

(6) Is the Government aware of complaints from members of the Tasmanian community that the land has been disposed of for a fraction of its real value and in circumstances in which many other offers would have been made had the offer been put in terms that did not suggest that a price under $2 million would not have been acceptable to the vendor.

(7) What is the Minister's response to those who have expressed such concern and to those who believe the sale process was misleading and mishandled.

Mrs Vale (Minister for Veterans' Affairs and Minister Assisting the Minister for Defence) —The answer to the honourable member's question is as follows:

(1) The Office of the Valuer General for Tasmania valued the property for rating and taxing purposes on 1 August 1999 with a capital value of $2,400,000, a land value of $370,000 and an Assessed Annual Value of $98,000.

(2) The Australian Valuation Office provided Defence with a market valuation of the property on 21 August 2002 at $200,000.

(3) No. The property was advertised through a tender process.

(4) $150,000 inclusive of GST.

(5) The valuation of the capital value of the buildings in 1999 reflects the value of the buildings based on the Defence's use at the time. The valuation in 2002 by the Australian Valuation Office of $200,000 reflects the estimated market value of the property based on a tender process. The decision to proceed with the sale of the property was in line with the market valuation.

(6) Yes.

(7) The property was placed on the open market via a tender process and later through an Agency Listing in line with the Commonwealth Property Disposals Policy. This provided potential purchasers over nine weeks to submit an offer for the site. The price achieved represents the true market value.