Due-diligence and Conveyancing services for the purchase of 40 & 42 Campbell Street and 11 Tufton Street, Bowen Hills
Queensland Racing Integrity Commission
60 Kingsford Smith Drive, Albion, QLD, Australia, 4010
QRICRFQ2324RSCR006
Goods and Services
Due-diligence and Conveyancing services for the purchase of 40 & 42 Campbell Street and 11 Tufton Street, Bowen Hills
The Queensland Racing Integrity Commission (QRIC) is progressing an accelerated program for the relocation of the Racing Science Centre laboratory (RSC laboratory). The relocation of the RSC is necessary to allow construction of the Breakfast Creek Sports Precinct. QRIC is finalising arrangements to secure the site located at 40 42 Campbell Street and 11 Tufton Street, Bowen Hill. The arrangements to secure the site will be via a REIQ contract of sale as follows:
1. Settlement will be 30 days from day contract is signed by all parties
2. Agreed purchase price: $12,000,000* with 10% deposit
3. Conditional period to be 2 weeks from contract date
4. Contract of sale to be subject to the following special conditions (in addition to the Standard Commercial Terms under the REIQ Contract for Commercial Land and Buildings):
a) The contract is also conditional on the buyer obtaining:
(i) a satisfactory plumbing and drainage report
(ii) a satisfactory electrical report.
b) The above reports shall be subject to the same clauses under the Building and Pest Inspection Reports’ Standard Commercial Terms, under the REIQ contract.
c) The contract shall be subject to the buyer obtaining the necessary funding approvals to complete the purchase of the site.
The scope of work for this project will be generally as follows:
- Lead and/assist in the preparation of contract of sale
- Conduct usual property searches for the properties and preparation of a due diligence report
- Act in the conveyancing of the properties including all matters which the Queensland Conveyancing Protocol (endorsed by the Queensland Law Society) recommends as being usual and necessary for the purchase of commercial properties in Queensland.
8 Jun, 2023
Legal services - (100%)
limited offer process
No
$20,000
(Estimate)
South East Queensland
12 Jun, 2023
This contract was awarded following a request for quote - 3 quotes were sought from the market by way of email and the least cost technically compliant offer was selected. Due to the low value of the requirement an informal request for quote method was used as per the QRIC Procurement Policy and Procedures.
