16 March 2020
NSW Labor has raised concerns about an apparent $10 sale of land in Newcastle West by a State Government agency, which was valued at $2.8 million and which Planning Minister Rob Stokes said he was unaware of.
Documents show the State Government sold 4 Stewart Avenue in Newcastle West (Lot 300 DP1255289) to Doma Group for only $10, despite the site being worth around $2.85 million.
That site is now being developed into a new office block, which the State Government has committed to being an anchor tenant at for the next decade.
Labor can also reveal that Doma Group is headed by Jure Domazet, who Transport Minister Andrew Constance has described as a “long-time uni mate”.
But when asked about the deal in Budget Estimates at NSW Parliament today, Mr Stokes was not familiar with the sale. He stated he was not aware who purchased the property or at what price.
Labor Shadow Minister for Planning and Better Living Adam Searle said the Minister needs to investigate this sale and reveal what value the public gained from the transaction.
“This deal raises serious questions about what the taxpayers received from this transaction, how much money was raised and what continuing financial obligations the State Government has as a result of its anchor tenancy” — Adam Searle, Labor Shadow Minister for Planning and Better Living
Member for Newcastle Tim Crakanthorp said there are some serious questions around the transparency of this deal.
“This site was owned by the people of New South Wales – we need to know that there was value in this sale,” Mr Crakanthorp said.
“The NSW Government needs to come clean about this deal.”