Portfolio Management Overview
The Department of Finance and Deregulation is responsible for the management of the Australian Government´s non-Defence property portfolio within Australia. The portfolio includes a diverse range of property types including commercial office buildings, law courts and other special purpose properties, public interest properties, heritage buildings, residential properties and vacant land.
The Property area operates in a competitive market as Australian Government agencies are not bound to lease their accommodation from it.
However, if an agency needs to occupy a government-owned building, the Property Branch is required to provide the building on a commercial basis.
Property Branch is required to:
- achieve a commercial rate of return on the portfolio;
- maintain the condition of the portfolio to industry standards;
- meet the future needs of tenant agencies as agreed by government;
- contain its management costs within market benchmarks;
- pay dividends from operations; and
- make equity repayments to the Australian Government from any divestment of property.
Property Management Contract
The Australian Government, represented by the Department of Finance and Deregulation, has a contract with United Group Process Solutions Pty Ltd for the provision of a range of property portfolio management services. The contract commenced in May 2006 with an initial term of 5 years and provides for the effective and efficient management of the portfolio. Services delivered under the property management contract include facilities management, valuation services and asset strategies.
The delivery of service standards to the tenants occupying properties in the portfolio is contractually guaranteed through comprehensive service level agreements incorporated within the contract.
Contact for information on this page: Property & Construction Contacts