THE McGowan Government has appointed a commercial advisor as it seeks to realise value from the privatising of Landgate and its assets.
Lands Minister Rita Saffioti said the appointment of Investec followed a request for quotation process initiated after the scoping study announced in December last year.
In a joint statement Ms Saffioti and Treasurer Ben Wyatt said Investec had advised the South Australian government during its 2017 Land Services transaction which outsourced its operations for land titling and valuations.
Ms Saffioti said the commercial advisor would add to the experience and expertise of the Treasury and Landgate team working to produce the best outcome for the state.
“Our minds are open to all options as we consider the future of what is a complex, and very important business that provides vital services to government and to the people of Western Australia,’’ she said.
“We remain committed to ensuring that the security and integrity of the data held by Landgate remains a prime consideration as we consider the options for the agency’s future.”
Mr Wyatt said Investec had a proven track record, specifically in commercialisation activity in the land information sector.
“With a commercial advisor on board, the Treasury and Landgate team will now be working in earnest to determine the best way forward for this significant State asset.
“On consideration of the findings of the report, the government will look to make a decision that is in the best interests of all Western Australians.”
In December the property industry welcomed the government’s announcement to consider options to commercialise the operations of Landgate, including WA’s land titles registry.
Property Council of Australia WA executive director Lino Iacomella said the decision to commercialise land title registries in other states had proven to be successful asset recycling initiatives as well as delivering benefits for industry and the public.
“Commercialisation will lead to greater innovations and competition in product delivery and the government can use the proceeds from the sale to fund key budget measures like community infrastructure,’’ he said.
“As part of the commercialisation process the property industry will be looking for a commitment to maintain open data and a competitive marketplace for property statistics.
“It’s also an opportunity for the government to differentiate more clearly the provision of easily accessible and affordable public information to help homebuyers and the array of more complex property information required by industry.
“The commercialisation of WA’s land registry information is also a reasonable response to WA’s Budget situation and the Property Council encourages the government to consider other opportunities to recycle state land and trading assets.’’