THE Property Council of Australia has welcomed the Chief Minister Barr’s announcement that the ACT Government is looking to take advantage of the federal government’s $5 billion asset recycling payment scheme.

Andrew Barr has earmarked street lights, surplus government land, ageing office buildings and the Northbourne Avenue visitor information centre as potential assets to be sold.

“The Property Council strongly supports the direction taken by the Chief Minister on an active program of sale of surplus ACT government assets,” says the Property Council of Australia’s ACT Executive Director, Catherine Carter.

“Buildings and assets such as the visitor’s centre and Macarthur House are run-down and well past their use-by-date. These buildings are expensive to maintain and provide poor quality working environments for government employees.

“The sale of these assets provides a good opportunity for the private sector to transform the sites into higher value developments, creating jobs and ensuring the ACT Government is able to take advantage of the federal government’s asset recycling payment scheme.

“Perhaps most importantly, it will boost the ACT Government’s funds for much-needed capital works projects, such as the Capital Metro Light Rail.

“In relation to the possible sale of car park sites, we recommend caution to ensure any lost surface car parks are replaced. This presents a good opportunity for the private sector to engage closely with the ACT Government so that new developments include the provision of multi-storey car parking – as occurred recently in Woden.

“Selling surplus assets is a smart move – supporting urban regeneration, raising money for essential capital works, and delivering value for money to the ACT taxpayer,” Ms Carter concluded.