31/03/2022 - 15:42

Sale of $17.3m Landgate building settles

31/03/2022 - 15:42

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The state government has officially handed over its Landgate building to Georgiou Capital for $17.3 million, the first project to be settled under its market-led proposals policy.

Sale of $17.3m Landgate building settles
The office will continue to accommodate up to 850 state government staff.

The state government has officially handed over its Midland-based Landgate building to developer Georgiou Capital for $17.3 million, the first project to be settled under its market-led proposals policy.

The sale comes more than two-and-a-half years after the state government issued a problem and opportunity statement seeking solutions to optimise Landgate’s office space across a 1.26 hectare site at 1 Midland Square.

The market-led proposals initiative welcomes unsolicited proposals from the private sector for the purchase of government-owned assets.

The settlement and confirmed 15-year lease agreement will allow Georgiou to begin refurbishing the building, with construction expected to begin in the coming months and be completed by 2024.

The development is expected to support up to 370 jobs.

The office will continue to accommodate up to 850 state government staff, including those from the state’s land agency and the Department of Communities, as well as providing flexible workspaces for public servants from other agencies.

Planning Minister Rita Saffioti said the MLP policy had continued to generate strong interest from industry, having received more than 65 proposals.

"These proposals present the Government with innovative solutions for the delivery of public services, use of surplus government land or buildings or procurement of essential products,” she said.

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