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Under the NSW Government’s property policy framework, the State Property Authority has assumed responsibility for the ownership and management of all government owned and leased office assets.
These assets are being progressively transferred to the Authority under its property vesting program.
The program aims to:
- streamline the administration of NSW Government property
- centralise ownership and management into one agency
- improve government infrastructure by better managing facilities.
The centralisation of property management in the Authority allows agencies to concentrate on the delivery of core services to the people of NSW.
Vested assets
From July 2008 and June 2011, the Authority transferred in excess of 1,000 owned and leased assets representing an estimated NLA (net lettable area) of 1.4 million square metres of floor space now under Authority management.
Success due to agencies
The success of the vesting program is attributed to:
- the ongoing cooperation of NSW Government agencies
- the general acceptance of the benefits of centralised ownership and management of government assets by the Authority.
Future vesting
While the dedicated vesting program was completed towards the end of 2010-11, the vesting team is being reconstituted to undertaken two future vesting tranches by the end of June 2012.
These additional tranches are partly necessitated by the machinery of government changes announced in April 2011 and will include a number of agencies that have not previously participated in the vesting program.
