Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

asked the Minister representing the Treasurer, upon notice, on 18 August 2011:

With reference to the Royal Australian Mint:

(1) What is the actual location, including the full street address, of each premises occupied by the Royal Australian Mint.

(2) In relation to each of the premises referred to in 1, are these premises:

(a) owned by the Commonwealth; or

(b) rented.

(3) What is the actual amount of space in square metres occupied by, or allocated to, the Royal Australian Mint at each of the premises.

(4) What is the actual amount of space in square metres occupied by, or allocated to, the Commonwealth Government at each of the premises.

(5) For each of the premises that are owned by the Commonwealth:

(a) what was the total purchase price of these premises and what was the purchase date;

(b) what amount has been allocated as building depreciation from the date of purchase to the current date; and

(c) what is the estimated current market value of these premises and on what basis has this market value been calculated or derived.

(6) For each of the premises that are rented, what are the current lease terms including:

(a) the date the lease was entered into;

(b) the current expiry date of the lease;

(c) any further options available under the lease;

(d) the rental amount payable per square metre on an annual basis; and

(e) the total rental amount payable for the premises on an annual basis.

(7) When is the next rental review due and on what basis will any new rental be determined.

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

The Treasurer has provided the following answer to the honourable senator's question:

With reference to the Royal Australian Mint:

(1)   The actual location, including the full street address, of each premises occupied by the Royal Australian Mint is land known as part of Block 1 Section 65 Deakin and street address being 66 Denison Street, Deakin, 2600.

(2) In relation to each of the premises referred to in 1, this premise is rented.

(3) The actual amount of space in square metres occupied by, or allocated to, the Royal Australian Mint at each of the premises is 15,227m2 as of last survey dated 25 March 2011.

(4) The actual amount of space in square metres occupied by, or allocated to, the Commonwealth Government at each of the premises is 15,227m2 as of last survey dated 25 March 2011.

(5) For each of the premises that are owned by the Commonwealth:

(a) The total purchase price of these premises was 2,178,791 pounds and the purchase date was 1965.

(The purpose built Mint process building and 60 Denison St (the old Administration building) were constructed in 1965 and have always been in Commonwealth ownership. The buildings were constructed on Commonwealth Land and the original construction cost was 2,178,791 pounds. )

(b) The amount that has been allocated as building depreciation from the date of purchase to the current date from available accounting records (March 2001 to July 2011) show that, from a whole of Australian Government perspective, depreciation of $3,074,182.92 has been charged.

(c) The estimated current market value of these premises and on what basis has this market value been calculated or derived is as at 30 June 2011, for both the Mint process building and 60 Denison St, including land, is $34 million.

The breakdown is as follows:

The value was determined by independent, professional property valuers.

(6) For each of the premises that are rented, the current lease terms including:

(a) the date the lease was entered into was 20 March 2009.

(b) the current expiry date of the lease is 20 March 2029.

(c) any further options available under the lease are two (2) option terms of five (5) years each.

(d) the rental amount payable per square metre on an annual basis is:

Office area total 4,231.3m2 @$290/m2 + GST = $1,227,077.00 + GST

Factory area total 6764.8m2 @$82/m2 + GST = $554,713.60 + GST

Storage area total 2,387.9m2 @$45/m2 + GST = $107,455.50 + GST

(e) the total rental amount payable for the premises on an annual basis is $1,889,246.10 p.a. + GST based on latest survey dated 25 March 2011.

(7) The next rental review is due on 20 March 2012 and the determination of any new rental will be determined by:

(a) Fixed 3% increase on every anniversary except every 5th anniversary for the term of the lease.

(b) Market Review on every 5th anniversary during the term of the lease. The market review dates are 20 March 2014; 20 March 2019; 20 March 2024; and 20 March 2029.