Preferred bidder announced
Greenfield (construction) or brownfield (government asset divestment) projects needed or likely to occur within the next five years, but is not formally proposed by a state, territory or major local government.
The project or divestment is supported by a state, territory or major local government, is subject to studies or other processes (such as pre-feasibility or scoping studies or business case development), and is likely to proceed to formal announcement.
The project has a firm commitment and timeline from a state, territory or major local government, but has not yet entered the market.
The project or transaction is under procurement (such as a call for Expressions of Interest, requests for tender, or another offer to the market).
Preferred bidder announced
A preferred bidder has been selected and is in exclusive negotiations.
Projects that have progressed to contractual close remain on ANZIP for 12 months.
ANZIP is focused only on major infrastructure activity, above the following thresholds:
Construction projects: > AUD$300m
Investable greenfield & brownfield: > AUD$100m
All greenfield and brownfield projects and divestments: > NZD $100 million
Landgate is a statutory authority in WA providing land information services including titles registry functions, property details, valuations, property sales reports and geospatial information. It holds 1.4 million titles on its register and over FY2016/17, processed 1.45 million title searches and 1.96 million valuations. As a statutory authority, Landgate is managed by a board and is accountable to the Minister for Lands for the delivery of its services.
Since 2014, Landgate has implemented a business improvement programme including the development of a cloud-based land registry system which automates transactions and supports e-conveyancing – the electronic processing of land documents. In 2015, it established a subsidiary company, Advara, which provides IT services to Landgate and seeks commercial opportunities for its new land registry platform. Landgate currently owns 77.78 per cent of Advara with the remainder owned by Adecco.
Since June 2017, Advara has been providing specialist technology consulting services to Australian Registry Investments (the consortium comprising Hastings on behalf of three investors, and First State Super) to enable it to operate the NSW land title registration system, Land and Property Information.
The WA Government announced on 20 December 2017, that it had approved an investigation assessing options for commercialising some or all of Landgate’s operations. The WA Government announced in February 2018 that it had appointed Investec to undertake the scoping study, following a request for Quotation process. Investec previously advised the SA Government on the Land Services transaction in 2017. The study addressed the need to preserve the legal protections of the Torrens title system and protect the confidentiality of data.
On 27 June 2018, following the conclusion of the scoping study, the WA Government announced that it has opted for a partial commercialisation of Landgate. The automated land titles services will be commercialised, with the State Government continuing to directly provide property valuation, location information and non-automated land titling functions through Landgate.
On 28 August 2018, the WA Government announced that Investec had been appointed as the lead commercial advisor to undertake the tender process with potential service providers for the commercialised services. Investec will also concurrently investigate options for Landgate's shareholding in Advara.
On 8 January 2019, the WA Government announced EOIs were open for the partial commercialisation of the land registry. The transaction covers providing automated titling services for a 40 or 50-year lease term. EOIs will close on 12 February 2019. It is expected the successful bidder will be appointed in late 2019. The Government also confirmed that as part of the transaction, existing privacy and security protections for property owners regarding land titles will remain unchanged. Commercialised services will also be subject to capped pricing.
The proceeds from the commercialisation will fund Western Australia’s participation in the National Redress Scheme and the State Government’s decision to remove limitation periods for all child sexual abuse actions. The combined cost of the two initiatives is expected to be $640 million.
As at June 2017, Landgate had assets totalling $266 million, and saw $164 million in revenue and $26 million in profit over FY2016/17.
Last reviewed: 09/01/2019