Land and property: the effectiveness of strategic property portfolio management, and the integrity of processes and outcomes for property acquisitions and disposals
2021-22
Contents

Overview

The NSW Government owns and manages a significant amount of land, and is acquiring more in support of its infrastructure objectives. The NSW Government also regularly disposes of property assets that are no longer required or suitable for their original purpose. Property transactions undertaken by the NSW Government can involve compulsory acquisitions, expressions of interest in the open property market, and direct negotiations. The outcomes of these processes can have significant impacts on the community. They can also involve the exchange of significant sums of public money, and need to be managed within a robust strategic framework to reduce waste, promote transparency and accountability, and ensure the best use of public resources. This performance audit topic has a number of components that may be addressed in a series. Over the course of this work, we will consider significant property transactions, as well as the management and oversight of the Government’s property portfolio, and the governance of entities that manage these processes, including Crown Lands, Landcom and Property & Development NSW (within the Department of Industry, Planning and Environment Cluster).