Reference is made to Memorandum 89/71 outlining directives in respect of the Government's Asset Management Policy and the co-ordinating role of the Property Services Group.

Since the issue of the above Memorandum, Property Services Group has prepared Guidelines for Property Asset Management and copies have been distributed to all Departments and Declared Authorities. The Guidelines were endorsed by Cabinet prior to issue.

Attention is drawn to the role of the Property Services Group set out in the Guidelines in respect of strategic properties i.e. those with a value in excess of $5M.

It is the responsibility of the Property Services Group to manage the disposal of these properties and all Departments and Declared Authorities are required to comply with this policy by advising and delegating to the Property Services Group disposals intended in this category. The disposal of these properties will be essential in achieving the Government's asset disposal program in this and future financial years.

This policy will also include all projects with a value in excess of $5M, where the Department and Declared Authority propose to offer to the private sector opportunities for participation in construction or development of new property assets in exchange for land or surplus properties. In such cases the Property Services Group is to be included in a Task Force for the management of the project and will have responsibility for the exchange of land or disposal of surplus properties.

All Ministers are requested to ensure that all Departments and Declared Authorities comply with this requirement.

Nick Greiner MP

Branch: IRB
Date: 13 December 1990