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Creating Tomorrow's Communities

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Creating Tomorrow's Communities Creating tomorrow’s communities. Annual and Sustainability Report 2017-18 This report has been prepared in accordance with the GRI Standards: Core option. Contents 01 Introduction and welcome 3 1.0 Welcome 4 1.1 Who we are 4 1.2 About this report 4 1.3 Report structure 5 02 Message from the chairman 6 03 Message from the chief executive 7 04 Performance at a glance 8 05 Purpose 11 5.1 Vision 12 5.2 Values 12 5.3 Key result areas 12 5.4 Projects 13 5.5 Future direction - Land agency reform 14 06 Defining the content of this report 15 6.1 Approach 16 6.2 Value chain 23 07 Performance 26 7.1 Integrated project outcomes 27 7.2 Relationships and partnerships 69 7.3 Market leadership and innovation 74 7.4 Organisational and commercial sustainability 82 08 Corporate governance 94 09 Financial statements 113 10 GRI content index 153 2 SECTION 01 Introduction and welcome 01 Cockburn Central West INTRODUCTION AND WELCOME 3 SECTION LandCorp is a Government 01 trading entity established under the Western Australian Land Authority Act 1992. Koombana North foreshore and Bunbury Waterfront vista 1.1 Who we are 1.2 About this report The Western Australian Land This Report presents our 1.0 Welcome Authority, trading as LandCorp, performance for the financial year is a publicly owned State 1 July 2017 to 30 June 2018, and We pay our sincerest Government Trading Enterprise adheres to the requirements set (GTE) established under the out in the Western Australian Land respects to Elders, Western Australian Land Authority Authority Act 1992. Act 1992 (the Act). Governance past and present, and Separate sustainability reports is managed via an independent have been produced since 2013-14. Board of Directors and reporting to commit to working This is our first combined Annual Parliament though the Minister for and Sustainability Report and respectfully together Transport; Planning; Lands who is reflects a commitment to integrate responsible for the Act. so we can move to a sustainability within the business. We are the principal agency of the Information in this report has place of equity, justice State authorised by the Western been prepared in accordance Australian Parliament to deliver with the Core and partnership. Government policy objectives GRI Standards: option. Guidance provided in the with regard to land development. We are committed Government of Western Australia Our Act requires we provide or Public Sector Commission Annual to fostering a long- promote the provision of land, Reporting Framework has also infrastructure, facilities and been used. term relationship services for the social, economic and environmental needs of the with Traditional Land In line with the WALA Act, we take State. We work to realise the account of and balance social, Owners as we create potential of land and infrastructure economic and environmental by developing land for housing, outcomes. Using the GRI Standards new places across business and industry to build social as part of our annual reporting and economic prosperity for all ensures we assess our performance Western Australia. Western Australians. against globally accepted sustainability reporting principles and measures. INTRODUCTION AND WELCOME 4 SECTION 01 The Quarter, Karratha 1.3 Report structure Message from the chairman Message from the chief executive Performance at a glance Purpose Vision Values Projects Future direction Defining the content of this report Approach Value chain Performance Integrated project outcomes Relationships and partnerships Market leadership and innovation Organisational and corporate sustainability Corporate governance Financial statements GRI content index INTRODUCTION AND WELCOME 5 SECTION 02 Looking at the full spectrum of land planning and delivery required in the coming years, the scale of Western Australia’s future development agenda cannot be understated. From the chairman 2017-18 was a year of great significance Marina and a range of infill, industrial for LandCorp. and innovative projects in sites across the Western Australian community. It is now 25 years since the agency was formed and began to play its Establishment (in June) of the crucial role in contributing to Western Industrial Land Authority within Australia’s social and economic LandCorp completed a key electoral prosperity. This year also marked undertaking of Government. the beginning of a profound change The ILA has a simple mandate of land which will see the creation of a new for jobs. land planning and delivery agency for our State. The intent is to work closely with government partners and industry In November, Minister for Lands the to deliver appropriately configured Hon. Rita Saffioti MLA announced land for new projects, industries and period of the land agency the operations of LandCorp and capabilities required to support our reform process. the Metropolitan Redevelopment State’s growth. I am particularly grateful to the Authority would merge to form a new Directors of the Western single agency for government land Looking at the full spectrum of land Australian Land Authority for their development across metropolitan planning and delivery required in the focus and diligence in respect of and regional Western Australia. coming years, the scale of Western the opportunities presented by Board memberships common to Australia’s future development the land agency reform process both organisations took effect from agenda cannot be understated. now underway. January 1, 2018. There are exciting times ahead for The balance of this Annual Report The challenge to the new Directors is Western Australia, with significant provides a very complete account to superintend the process to create new projects on the horizon which of the achievements and efforts of a new organisation that can facilitate can optimise our state’s natural the management team and the men and deliver a range of transformative advantages, infrastructure, transport and women who compromise the outcomes associated with Metronet and freight networks to best effect. LandCorp workforce. It also records – and to meet the continuing It is appropriate to thank and the important contributions of a challenges of a changing city and acknowledge the former Chairman, range of government and business a large state. Inside that vision the Monty House and outgoing members partners who have contributed to the provision of land for jobs, planning of the Board – Peter Cooke, Peter LandCorp story for 2017-18. Thank outcomes for communities and Gibbons and Sue Middleton. They you to all for the role you have played. places for people is a central tenet. can be proud of their achievements Finally, I wish to acknowledge the Our focus is to ensure a streamlined, during their time with LandCorp leadership and engagement of the consistent and efficient approach to and I thank them for their significant Minister for Lands, the Hon. Rita delivering key Government priorities contribution to the State. I also wish Saffioti MLA for her support for the such as METRONET, and to continue to acknowledge the contribution of agency and its purposes. with transformational projects such as Paul Lakey who served on the new the Bunbury Waterfront, Ocean Reef Board during the commencement George McCullagh MESSAGE FROM THE CHAIRMAN 6 SECTION From the chief executive 03 With a number of significant The successful launch of Alkimos Vista milestones attained, reflecting on has delivered significant sales and 2017-18 has proved a satisfying and builder endorsement, and both stages enjoyable exercise. However, the 1 and 2 at Parkside Walk Jolimont process to single out highlights achieved outstanding sales. At from the volume of impressive work Blackmore Park Estate, Girrawheen, all undertaken by the various teams lots released are now under contract. that brought them to life has been Civil works commenced at Middleton a challenge. Beach in Albany, where we are According to property pundits, the working to deliver a much-anticipated the Water Corporation and Tianqi past financial year saw the property mixed-use hotel, retail and residential formalised a request to expand the market bottom out. However, despite accommodation precinct. lease area for its lithium plant, which an industry-wide slump in sales, Despite challenging climatic conditions, is already under construction and there were some bright lights across the Smart Sun Pilot, a collaboration we entered options to lease for two our residential, commercial and with Horizon Power at Warranyjarri further lithium plants at Kwinana industrial areas, thanks to a delivery Estate in Broome North, is underway. and Kemerton. program designed to withstand Results for the Cool Earth geothermal market fluctuations. energy trial in Craigie have been Future challenges and opportunities Across our State, significant, local, positive. Over a nine-month period, the include delivering the next generation national and international investment geo-exchange system has delivered of economic and employment is visibly changing the development remarkable energy saving achieving land through the ILA. During landscape and we’re moving to meet up to 75 per cent greater efficiency 2018-19, we will consolidate our new challenges and opportunities. when cooling the home in summer and operations with the Metropolitan Innovation-led planning and design 35 per cent improved efficiency when Redevelopment Authority under a over the past 12 months has resulted heating the home in winter. These unified operating model and progress in confirmation of WA’s
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