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Australian Government Coat of Arms

Budget | 2015-16

Budget 2015-16
Australian Government Coat of Arms, Budget 2015-16

Part 1: Revenue Measures (continued)

Finance

Smaller Government — Property Divestment Programme — general office accommodation Canberra

Revenue ($m)
2014‑15 2015‑16 2016‑17 2017‑18 2018‑19
Department of Finance nfp nfp
Department of Finance 4.4 0.4

The Government will provide $4.8 million over two years from 2015‑16 to the Department of Finance to implement the divestment of four general office accommodation buildings (East Block, West Block, ANZAC Park East and ANZAC Park West) in Canberra. The decision is subject to the sale process validating the assumptions underpinning the recommendation of the Scoping Study.

The Government will also continue to review Commonwealth property leases in the ACT to ensure surplus vacant office space is filled by agencies with similar requirements and upcoming lease expiry dates.

Further information can be found in the joint press release of 13 February 2015 by the Minister for Finance and the Parliamentary Secretary to the Minister for Finance.

For commercial confidentiality reasons, the overall positive financial impact of this measure is not for publication (nfp) at this time.

The proceeds from this measure will be redirected by the Government to repair the Budget and fund policy priorities.

Smaller Government — Property Divestment Programme — Mount Macedon Property

Revenue ($m)
2014‑15 2015‑16 2016‑17 2017‑18 2018‑19
Department of Finance nfp
Department of Finance 0.3 0.2

The Government will provide $0.5 million over two years from 2015‑16 to the Department of Finance for the divestment of the property used by the Australian Emergency Management Institute.

Final proceeds will be subject to further due diligence, market conditions and arrangements permitting continued access to part of the property by local community groups.

For commercial confidentiality reasons, the financial impact of this measure is not for publication (nfp) at this time.

The proceeds from this measure will be redirected by the Government to repair the Budget and fund policy priorities.

See also the related 2014‑15 Budget measure titled Australian Emergency Management Institute — establish as a Virtual Institute.