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Asset management

Property management

Finance manages 58 properties and National Land interests in the Finance Owned Estate, including office buildings, heritage assets, law courts and other special-purpose facilities, vacant land and contaminated sites. The total value of the Finance Owned Estate was $1.9 billion at 30 June 2021.

Finance, with its private sector Property Service Providers, manages these assets in accordance with the legislative framework for environment and heritage matters, including the Environment Protection and Biodiversity Conservation Act 1999. Finance considers potential environmental and heritage impacts when making decisions about each property, including maintenance, retention and divestment.

To improve the performance of the portfolio, Finance undertakes works to improve building and environmental performance and to meet leasing obligations, in accordance with relevant asset management plans.

In 2020–21, Finance continued to rationalise the Finance Owned Estate in accordance with the Commonwealth Property Disposal Policy. Finance divested 13 properties, with total sale proceeds of $0.9 million.

As at 30 June 2021, 94 per cent of non-corporate Commonwealth entities had transitioned to the Whole-of-Government Property Services Coordinated Procurement Arrangements, representing 99 per cent of the total properties to be transitioned.