[COM] Super Schools | $216m

[AG]

$160m school sell-off windfall
Article from: The Advertiser
LAUREN NOVAK
October 20, 2009 12:01am

LAND sales planned for the super schools project could yield the State Government up to $160 million, figures show.

Data commissioned by the Opposition has put the value of the sites of 20 schools closing - totalling 489,775sqm - at $157,038,000.

The figures, put together by a commercial real estate agency, are based on current market values and previous land sales in the areas.

They are wholesale prices for the undeveloped land, less a proportion which accounts for land used for roads and other infrastructure.

Opposition education spokesman David Pisoni said the Government had only accounted for an expected $30.8 million in the 2006–07 Budget. He called on the government to "identify what value it puts on the land and what it's going to do with the money".

"The government needs to tell us whether it will be developing the land through the Land Management Corporation . . . or if it will sell it outright for development," he said.

Mr Pisoni was concerned the revenue would be put into the general treasury budget.

"This whole super school project has been driven by treasury, not by education, so it's legitimate to question the educational outcomes," he said.

Australian Education Union state president Correna Haythorpe wanted any revenue from the sale of educational land spent on education.

"(But) we're not confident that will happen, we're very concerned the proceeds will not go back into the (super schools) project," she said.

Education Minister Jane Lomax-Smith recently confirmed the revenue would go into treasury. She said some of the land would be used for sporting fields for the new schools and the rest "will be sold if it's not required by other government departments".

Dr Lomax-Smith stressed the sales would be finalised after the schools close which "will be way down the track".

In an emailed statement yesterday Dr Lomax-Smith said the super schools investment "significantly outweighs any revenue from potential land sales".