Ginninderry
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The Joint Venture (JV) governing Ginninderry is an undertaking between the two development entities; the ACT Government and Riverview Developments Pty Limited (Riverview) on behalf of Corkhill Brothers Pty Ltd (Corkhill).  The Joint Venture was entered into to ensure the respective interests of the ACT Government and Riverview are brought into a transparent structure bound by a series of legal agreements. Under the terms of JV, the Territory and Riverview contribute their respective land holdings in the ACT and NSW to the project. As an essential part of the JV, Corkhill will surrender its lease over the ACT land to the Territory. Riverview Projects is acting as development manager for the project.

The Land Development Agency

The Land Development Agency (LDA) is an ACT Government agency within the Chief Minister, Treasury and Economic Development Directorate.  Reporting to an independent Board of Directors, the LDA’s core business is developing and selling land on behalf of the ACT Government. The LDA is dedicated to achieving new standards of innovation, excellence and value in urban design and sustainable development. Its commitment has been recognised with multiple industry awards.

 

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Vision

The LDA strives to be an organisation of excellence that:

  • recognises it is a key instrument for the delivery of ACT Government policies
  • acts commercially
  • promotes and rewards innovation
  • is adaptable
  • behaves ethically and professionally in all that it does
  • appropriately values its people and its customers.

Mission

The LDA will contribute positively to the economic and social development of the ACT by building vibrant and sustainable communities through greenfield and urban renewal projects for the development of residential, commercial, industrial, community and non-urban land.

Values Statement

The LDA is committed to the core values of professionalism, honesty, integrity, innovation and cooperation, and pursues these values in all its business dealings.

Riverview Developments

Riverview, a wholly owned subsidiary company of Corkhill Bros Pty Ltd, is an active property development company along the east coast of Australia. The Corkhill family settled in Canberra in 1883 and has a long history of farming and engagement in the Canberra region. The Corkhill family owns much of the NSW land that is part of the NSW component of this development proposal.

With projects in the ACT, Jerrabomberra, Mittagong and Wodonga, Riverview is committed to exploring and developing innovative solutions within the retail, commercial property and housing sectors

 

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Riverview Developments is dedicated to:

  • Creating commercial and residential developments that are at the forefront of international design and sustainability.
  • Building communities that meld with their surroundings, leave a light touch on the environment, retain and protect the natural landscape and respect the heritage and history of the surrounding area.
  • Drawing upon the expertise and imagination of industry leaders that have excelled in the area of sustainable development.

The LDA and Riverview  are committed to creating a world-class development that exemplifies the highest standards of urban design and sustainability.

Here’s what you need to know about the JV

  • Based on the land being contributed to the joint venture, the respective interests of the parties are 60% for the Territory and 40% for Riverview. Project costs and risks will be shared in those proportions.
  • Under the terms of the agreements, the Territory and Corkhill will contribute their respective land holdings in the project area to the JV.
  • A five-member board will oversee the JV. There will be two representatives from the Territory, two from Riverview and an independent Chair (appointed by the Territory). A company related to Riverview Developments (Riverview Projects (ACT) Pty Limited) will be the Development Manager for the Joint Venture, under instruction from the JV Board.
  • The JV will be in place until completion of the development. The development is expected to take 30 to 40 years to be complete.

Ultimately, the JV agreement provides a sound and transparent basis for the project and aligns the interests of the LDA and Riverview.

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