The contract summary for the new law courts precinct was released on Thursday by attorney-general Simon Corbell.
Construction for the ACT government’s first public-private partnership project started in April and work on the precinct is expected to be completed by September 2018.
Corbell said the project had delivered an excellent result for the people of the ACT.
“This project will ensure the territory will be served by a modern, fit-for-purpose court complex,” he said.
Weekly NewsletterEvery Thursday afternoon, we package up the most-read and trending RiotACT stories of the past seven days and deliver straight to your inbox..
“It will deliver Canberra with court facilities that will meet the territory’s needs for the next 50 years in a more functional, flexible and sustainable way.”
Juris Partnership was last year chosen as the preferred proponent to deliver the new court facilities.
The Juris Partnership consortium is made up of companies with national and international experience in delivering public-private partnerships, including Laing O’Rourke Australia Construction, Macquarie Capital Group, Programmed Facility Management and Lyons architects.
The total project net present cost will be $250.4 million over 25 years in current dollars. In nominal dollars, payments for the first complete year of full operation are estimated at $21m and will increase to approximately $35.5m in the final year.
The full contract summary is available here.