H/2.5 Property
Policy Owner | Director, Campus Services and Procurement |
Approval Date | 09/12/2021 |
Approval Authority | Vice-Chancellor and President |
Date of Next Review | 01/12/2024 |
2.5.1 Purpose
2.5.2 Application
2.5.3 Roles and responsibilities
2.5.4 Principles
2.5.5 Purchase of property
2.5.6 Disposal of University property
2.5.7 Leasing of real property by the University
2.5.8 Leasing of University real property
Related Documents
Modification History
2.5.1 Purpose
This policy establishes the framework for QUT’s management of matters related to property.
2.5.2 Application
This policy applies to all property related to QUT, whether through purchase, taken on lease or acquired by grant.
2.5.3 Roles and responsibilities
| Position | Responsiblity |
|---|---|
|
Chief Financial Officer |
|
|
Director, Campus Services and Procurement |
|
2.5.4 Principles
As a body corporate under the Queensland University of Technology Act 1998 (QUT Act), the University may own property (whether situated in Queensland or elsewhere) through purchase, taking on lease, or acquiring by grant. Such property may also be sold, leased, transferred or surrendered to the State (QUT Act).
In all instances, formal approval must be given by Facilities Management on behalf of the University prior to the installation of any equipment (eg aerials, satellite dishes, structures) on, at or about University property. In instances of a leased property, Campus Services and Procurement will seek landlord/owner approval to fit out and fixtures.
Any changes to University property, whether owned, leased or rented, must be recorded on the Fixed Assets Register and the Space Management System.
2.5.5 Purchase of property
Approval to purchase property is granted by QUT Council. Subject to availability of funds within approved budget limits and consistent with the University's plans, Council has delegated authority to the Vice-Chancellor and President and various senior officers to commit funds on behalf of the University (Register of Authorities and Delegations). All purchases of land are to be notified to the Executive Director, Finance and Deputy Chief Financial Officer.
Real estate
In accordance with the above approval and after consideration of an independent valuation of a property and the vendor's asking price, the Executive Director, Facilities Management will set the maximum amount to be offered for a property with recommendation from the Director, Campus Services and Procurement. This amount cannot be exceeded without further executive approval.
Other forms of property
Procurement processes relating to other forms of property are detailed in the Procurement policy (G/5.3).
2.5.6 Disposal of University property
Where it is decided that title of the property is to be surrendered to the State, a formal application over the signature of the Vice-President (Administration) and University Registrar is made to the relevant State Government Department.
Real estate
Where the University identifies property surplus to requirements, Council authorises the Executive Director, Facilities Management to have the land disclosed on the State Government Register, which enables other public sector agencies to make a bid for the property.
In the event that the land is not required by another public sector agency, a broader marketing program can be implemented and the land disposed of to the best tenderer.
Where the property for disposal is State land, the distribution of the sale proceeds, whether it is to another public sector agency or to a private buyer, is determined by Queensland Treasury in accordance with State Government policy.
Other forms of property
Disposal processes relating to other forms of property are detailed in the Asset policy (G/3.1).
2.5.7 Leasing of real property by the University
Real estate
Following approval by the Vice-Chancellor and President of the need to secure the use or occupation of property by QUT (whether by lease, licence or other form of agreement), the Director, Campus Services and Procurement negotiates and manages the contractual process and administration on behalf of the University. All agreements must have a legal review through Governance, Legal and Performance.
Once the property transaction takes effect, details of the property leased or occupied by QUT are provided to Finance Business Solutions for reporting purposes and included in the University’s Register of Leased Property. The Director, Campus Services and Procurement is responsible for the ongoing administration of property matters for external property (ie rent reviews, lease renewals, payment of rents and other charges) and the Executive Director, Facilities Management is responsible for the maintenance of plant, machinery, building services and fabric specified in the lease agreement.
Other forms of real property
The approval of the Executive Director, Finance and Deputy Chief Financial Officeris required before any commitment is made in relation to the leasing of other forms of property (such as equipment or vehicles) (Assets G/3.1).
2.5.8 Leasing of University real property
Leasing of University real property by external bodies is arranged on a commercial basis by the Director, Campus Services and Procurement. The property being leased can include such things as roof space for telecommunication infrastructure, areas within laboratories, purpose-built retail spaces, lecture rooms, theatres etc. Depending on the length and complexity of the lease / licence, a formal agreement is drawn up by the University's lawyers and agreed with the external organisation.
Generally, the lessee / licensee is responsible for the payment of all ongoing charges (power, telephone etc) associated with the premises. Rental is based on commercial rents currently charged to existing tenants or, where no similar rental space is available on campus, in accordance with what is charged in the local area. Depending on the benefit to QUT, a rental less than the market rate may be charged. The level of rent to be charged is approved by the Director, Campus Services and Procurement. Net rental income after management expenses is credited to the Commercial Operations overheads centre and surplus funds are returned to the University.
Following the signing of a lease agreement, the Director, Campus Services and Procurement ensures that details of the lease are recorded in the register of leases.
Related Documents
MOPP G/3.1 Asset policy
MOPP H/1.8 Maintenance, cleaning and waste
MOPP H/2.3 Catering and events
Modification History
| Date | Sections | Source | Details |
| 06.12.21 | All | Vice-President (Administration) and University Registrar | Periodic review – policy revised to include changes resulting from QUT’s Repositioning QUT for a post-COVID world organisational restructure (effective 31.01.21) and Chapter H restructure (previously H/3.2 Property) |
| 14.02.20 | All | Vice-President (Administration) and University Registrar | Revised and renamed policy, incorporating section H/3.4.8 Parking and traffic |
| 26.11.19 | All | Vice-President (Administration) and University Registrar | Approval Authority changed as a result of reporting line change - Vice-President (Resources) and Chief Financial Officer to Vice-President (Administration) and University Registrar |
| 10.07.18 | All | Vice-Chancellor and President | Revised policy to include department name change from Corporate Finance to Finance Resource Management |
| 03.11.15 | All | Executive Director, Finance and Resource Planning | Revised policy |
| 12.03.14 | H/3.7.6 |
Council | Revised policy to reflect approved new department titled Health, Safety and Environment and new appointment of Director, Health, Safety and Environment |
| 14.01.13 | All | Director, Facilities Management | Contact officer changed to Director, Facilities Management and minor editorial amendments to reflect organisational restructure |
| 25.10.12 | All | Registrar | Approval authority changed to Executive Director, Finance and Resource Planning |
| 15.08.11 | All | Registrar | Revised Policy - Chapter restructured |
| 24.11.10 | All | Planning and Resources Committee | Approval authority changed to Registrar |
| 14.11.05 | All | Planning and Resources Committee | Policy Updated |
| 08.04.03 | All | Registrar | Updated |