Awarded 26 Oct 2018
This is an awarded contract.
View Live TendersSale and Redevelopment of Parliament Square, Hobart Awarded to Citta Property Group Pty Ltd
About
Department of Treasury and Finance awarded a contract to Citta Property Group Pty Ltd (Parliament Square Hobart Landowner Pty Ltd) for the sale and redevelopment of Parliament Square, Hobart.
The site was offered for sale via a three-stage transaction process comprising a Registration of Interest (ROI), an Expression of Interest (EOI) and a final Request for Tender (RFT).
ROI respondents were assessed and shortlisted against published evaluation criteria; shortlisted parties were required to submit initial financial and non-financial offers and development concepts at the EOI stage.
After assessment of EOI responses, a refined group of respondents was invited to provide firm financial and non-financial tender offers in the RFT, with the successful respondent to enter into a Development Agreement with the Department of Treasury and Finance to ratify contractual terms and responsibilities.
The Department reserved the right to impose conditions on dealings with interested parties or to discontinue or amend the sale process and its conditions.
Detailed evaluation criteria, site information and terms were provided at the EOI stage, with final terms completed during the RFT stage.
The sale process was anticipated to be completed by early to mid 2009.
The award followed a staged market-led disposal and redevelopment process (ROI → EOI → RFT) that culminated in a private developer (Citta Property Group) securing a Development Agreement to deliver redevelopment on government-owned urban land, reflecting a typical approach for urban site redevelopment by government agencies.
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