ATP to proceed to sale by select tender
The NSW Government has decided to offer the Australian Technology Park for sale by select tender to five parties following the recent Expressions of Interest campaign.
The decision was made after a comprehensive evaluation of submissions to the Expressions of Interest campaign which closed earlier this year.
Under the terms of the Request for Tenders (RFT), the successful tenderer will be required to protect important heritage and public access values – including making an allowance for future access ways over the rail corridor into ATP - and to maintain and support the Park’s role as a major employment hub with an emphasis on technology, creative, research and ICT/software industries.
The five parties invited to tender are:
- Altis Property Partners Pty Ltd (with First State Super);
- Aqualand Projects Pty Ltd;
- Mirvac Projects Pty Ltd; and
- Walker Corporation.
The Request for Tenders will include requirements for continued public access to and through the Park, and specify that future owners embrace the commercial, heritage and conservation attributes of the Park.
The Government is looking to sell ATP to enable further development consistent with the vision in the Major Development SEPP 2005 and to release the capital locked in the asset.
UrbanGrowth NSW is working with the Government on plans to reinvest sale proceeds in the transformation of Central to Eveleigh.
Public investment in infrastructure and private sector development of ATP is consistent with planning principles in the Central to Eveleigh Urban Transformation Strategy, which will be discussed at a community workshop this Saturday and which promote greater expansion of technology, ICT, creative and education related industries in the Redfern and Eveleigh precincts around Redfern Station.
Investigations into the sale and development of ATP have been part of a long-running process.
The potential sale has been canvassed with the local community since 2013, with the first step towards a possible sale being a Registrations of Interest campaign which was held in October 2013.
The NSW Government has progressively developed the ATP since its establishment in 1996, transforming the site’s amenity, establishing planning controls that will protect the heritage buildings and assets, delivering more than 5,500 jobs and creating a high performing campus of more than 100 companies within a technology precinct.
Australian Technology Park Sydney Limited (ATPSL) is wholly owned by UrbanGrowth NSW Development Corporation (UGDC) which manages the Park and operations on its behalf.
The Request for Tenders process will be managed by UrbanGrowth NSW as an agent to UGDC.
The tender campaign will open in June and will run for approximately 8 weeks.