Sydney’s sport stadiums to get a $1 billion-plus upgrade thanks to sell-off of Land and Property Information Service

HOT on the heels of the privatisation of the state’s electricity poles and wires, the Baird government is selling the operations of the Land and Property Information Service – hopefully for a 10-figure sum – to help fund its $1 billion-plus upgrade of Sydney’s sports stadiums.

HOT on the heels of the privatisation of the state’s electricity poles and wires, the Baird government is selling the operations of the Land and Property Information Service – hopefully for a 10-figure sum – to help fund its $1 billion-plus upgrade of Sydney’s sports stadiums.

Premier Mike Baird has already earmarked $600 million from the Restart NSW fund for the ambitious stadiums plan, which includes the new 50,000-seat stadium at Moore Park, rebuilding Parramatta Stadium and upgrading ANZ Stadium at Homebush.

It is believed that, like the other privatised electricity ­assets, the LPI’s operations would be leased and would be expected to reap more than $1 billion over 10 years.

PIRTEK STADIUM: Will be replaced in Parramatta by a 30,000-seat stadium. ESTIMATED COST: $300 million.

The LPI administers a range of legislation and regulation on behalf of the Registrar-General, Surveyor-General and Valuer-General.

This provides the framework for land title registration, property information, valuation services, surveying, spatial data and mapping throughout NSW. That information is onsold to councils and property internet services.

Treasurer Gladys Berejiklian confirmed yesterday the lease sale would go ahead.

“Our asset recycling strategy has allowed us to invest record amounts on new rail, roads, sporting and cultural facilities, schools and hospital, while keeping our debt low,” she said yesterday.

“Our state should be the first choice for major sporting and cultural events. We will update the community as the LPI scoping study progresses.”

SYDNEY OLYMPIC PARK: Plan to transform ANZ Stadium into a rectangular format, with seats 20 metres closer to the action and a state-of-the-art roof. ESTIMATED COST: $350 million.

The stadium strategy is understood to have been the cause of heated debates in Cabinet committee meetings, with Treasury Secretary Rob Whitfield understood to have had an argument with Sports Minister Stuart Ayres over how much Mr Ayres estimated it would cost to buy back ANZ Stadium from the private operators. Those negotiations are still going on.

Last September the government announced it was launching a “scoping study” into possible private investment in the LPI.

Although it is still waiting for the study results, it is now expected to proceed with the sale and will use the proceeds for the stadiums package.

ALLIANZ STADIUM: Will be replaced at Moore Park with a 50,000-seat stadium. ESTIMATED COST: $600 million.

That package includes a new rectangular stadium at Moore Park with 50,000-plus seats, the redevelopment of Stadium Australia, which may include a retractable roof, and a new indoor arena near the CBD to replace the bulldozed Sydney Entertainment Centre.

There will also be a new outer Western Sydney sporting venue — expected to be in Penrith or Liverpool and serviced by the Badgerys Creek airport — and completion of the SCG upgrade would also be undertaken.

The government argues the private sector is better equipped to run the operational side of the LPI.

There would be specific conditions imposed on any private operator of the LPI to protect customer data.

Premier Mike Baird and Treasurer Gladys Berejiklian.