17 May 2024
The NSW Parliament has passed important legislation to support better use and management of the state government's property portfolio.
Changes have been made to the Property NSW Act 2006 to reflect and clarify the functions provided by Property and Development (PDNSW) - the government's central property agency. The Act will be called the "Property and Development NSW Act 2006".
The changes to the Act include:
- clarifying and simplifying PDNSW's existing capability to acquire and lease property, which reduces red tape in coordinating acquisition processes;
- clarifying PDNSW's existing capability to providing information and advisory services in relation to land, which will enable the improved identification of land assets for future reuse;
- enabling compulsory acquisition of land, which will minimise red tape by removing the need for PDNSW to rely on other agencies to acquire land assets before they are transferred to PDNSW;
- reducing administrative burden by removing the need for agencies to get two separate land variations for their financial reporting obligations and for the NSW Government Property Register (GPR):
- allowing the acquisition and holding of land for environmental and sustainable development, including remediation of contaminated land;
- enabling the creation of public subsidiaries, which will allow PDNSW to better manage property assets for agencies to help avoid negative financial impact, such as duties and land tax, as well as manage short-term assets that require adaptive reuse;
- allowing PDNSW to grant leases and interest in the use of land to non-Government parties when the land is not being used for government purposes, including filling short-term vacancies and supporting meanwhile use, and providing management or services for government-owned mixed-use precincts and buildings.
These changes were first proposed as the Property NSW Amendment Bill 2024 introduced to the NSW Legislative Assembly in March and passed through both houses of Parliament within the last fortnight.
The update to the Act will ensure PDNSW's current functions are accurately reflected, and will enable PDNSW to continue to adapt to the needs of the NSW Government which have changed since its establishment in 2006, while also cutting red tape and improving efficiencies.
For more information, view Property NSW Amendment Bill 2024.
Minister for Lands and Property Steve Kamper said:
"Property and Development NSW serves as a critical role as the state's central property agency, and it's role in government has expanded and changed markedly since it was first established in 2006.
"We've passed this legislation to improve PDNSW's operations, cut red tape and ensure its current remit is accurately reflected to enable more efficient and seamless service delivery."
Property and Development NSW Chief Executive Officer Leon Walker said:
"I'm pleased that Minister Kamper has delivered an important piece of legislation that better reflects the contemporary focus of Property and Development NSW.
"This will improve the services we provide, boost our efficiency, clarify our existing functions, and enable PDNSW to better manage our vast portfolio of government-owned property-assets."