Unsolicited Bids Guideline adoption welcomed

The Property Council welcomes the WA Government’s decision to adopt the unsolicited bid guideline for the sale or lease of state-owned land

”The guideline will unlock much needed private sector innovation and investment in the WA property sector”, said Property Council WA Deputy Executive Director Lino Iacomella.

 “Most other state’s have a similar guideline and WA has been missing out on investment inquiries without a guide to making an unsolicited bid.

“We understand that the guideline requires a private bidder to show that the community receives fair value and bid is in the interest of the state.

“There is enormous private sector interest in participating in the WA’s asset sale program and the guideline will help to introduce more interest.

“We welcome the Government’s willingness to engage with the private sector in adopting the guideline for unsolicited bids.  This will certainly assist in the strategic objective to keep WA growing through property development and investment,”Mr Iacomella said.

 

Media contact:  Joe Lenzo  |  M  0419 044 768  |   E  jlenzo@propertycouncil.com.au