The Government, through its Total Asset Management policy, is encouraging agencies to retain only those assets that continue to support the achievement of the Government’s desired service outcomes.

Following the 2001 review of land banking and property disposal practices by Government agencies, the Government approved a number of reforms to the property disposal process. These reforms are outlined in Premier’s Memorandum 2003-3 Property Disposal Reforms.

The Memorandum announced the establishment of the Property Disposal Asset Panel to review agency property disposal plans and advise the GAMC on property disposal issues, such as preferred disposal strategies and whole of government interest. The development of a Property Disposal Plan (PDP) is considered an integral component of an agency’s overall Asset Management Strategy.