Commercial advisor to assist the Landgate scoping study
- Commercial advisor will aid Landgate and Treasury with scoping study
- Project team to prepare a report back to State Cabinet on Landgate options
- Potential options will be provided to Government by mid-2018
A commercial advisor has been appointed to assist with the scoping study to identify options for Landgate's future.
The appointment of Investec follows a Request for Quotation process initiated after the scoping study announcement in December 2017.
Investec has a demonstrated track record in the land registry sector, acting as the advisor to the South Australian Government for the 2017 Land Services transaction which outsourced its operations for land titling and valuations.
As previously announced, the scoping study will identify the options available to the Government to realise value from the operations of Landgate and its assets.
Investec will consider similar transactions to inform options for financial and commercial analysis. The final report is due to the Government by mid-2018.
The best interests of the State remain the paramount consideration of the scoping study, with objectives of the scoping study including the preservation of the existing legal protections of the Torrens title system, and protection of data privacy.
Landgate provides the State's land administration system, land valuation services and authoritative location information. It has operated as an independent statutory authority since it was established by the Carpenter Labor Government in 2007.
Comments attributed to Lands Minister Rita Saffioti:
"The commercial advisor will 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.
"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."
Comments attributed to Treasurer Ben Wyatt:
"Investec has 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."