Department of the Legislative Assembly

Darwin City Waterfront - Asset Ownership

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WRITTEN QUESTIONS
10th Assembly


19/07/2005

36. Darwin City Waterfront - Asset Ownership

Ms Carney to for Chief Minister

QUESTION
Darwin City Waterfront - Asset Ownership

1. The Waterfront site will remain under the ownership of the Northern Territory government and be handed to the developer as freehold as the project is developed. What is the agreed process for handover of parcels of land for the Waterfront Development?
2. What agreements are in place for how these assets will be maintained and by whom.

ANSWER


Answered on 07/02/2006

Q1 Darwin Convention and Exhibition Centre (DCEC)

The DCEC and Public Domain remain under the ownership of the Territory.

Hospitality Precinct

The Hospitality precinct (hotel / restaurant) is granted to the Developer under a development lease. When all conditions under the development lease have been met the lessee (developer) progressively surrenders the lease and an estate in fee simple (freehold) title is granted.

Title to the “further accommodation site” (adjacent the hotel) only would be granted to the developer on completion of the “further accommodation” or when it pays for the land in full.

Residential Stage 1 and 2

The Territory remains the owner of the residential land. The developer subdivides the land and builds the residential properties under licence to the Territory and arranges sales and contracts with purchasers. On completion of all arrangements by the developer the Territory is a party to the Contracts of Sale to end purchasers.

Q2 Public Assets including any assets provided by the private sector and vested in the Territory will be owned and maintained by the relevant Statutory Authority. The mechanism to achieve this is via the Concession Deed and/or particular Project Delivery Deed which sets forth in detail which bodies are responsible for the management and maintenance of the various areas within the total site.
Last updated: 04 Aug 2016