Skip links and keyboard navigation

    Media Statements

    Coat of ArmsMedia Release
    Minister for Housing and Public Works
    The Honourable Bruce Flegg

    FUNDING FOR NEW OFFICE BUILDING AT BOWEN HILLS TO BE REALLOCATED

    Minister for Housing and Public Works
    The Honourable Bruce Flegg

    Monday, May 28, 2012

    FUNDING FOR NEW OFFICE BUILDING AT BOWEN HILLS TO BE REALLOCATED

    Housing and Public Works Minister Bruce Flegg today announced the plan to build a new government owned office building at Bowen Hills would no longer be proceeding.

    Dr Flegg said the decision followed a comprehensive assessment of the project’s viability and concerns that the $275 million project could leave the Government with an asset worth less than the capital invested

    “The former Bligh Government committed to a poorly planned and ultimately unviable project that failed to take account of the depressed property market conditions,” he said

    “Current indications are that continuing with the project and then selling the building could have resulted in a write down of between $50 million and $80 million at completion.

    “It has been a well documented priority of this Government to find efficiencies and savings and lower the pressure on families when it comes to the cost of living.

    “Upon review, this Bowen Hills Government Office Building project is not considered to be the best use of taxpayer’s funds.

    “The project was nearing commencement of construction and it was important to make a decision at this time.”

    ENDS

    Media Contact: Graeme Hallett 0408 763 671