TAHE TO TRANSFORM INTO GIANT PROPERTY DEVELOPER 
NSW Labor has exposed Dominic Perrotett’s secret plot to turn the controversial rail corporation the Transport Asset Holding Entity into a mega-property developer.

The plan involves TAHE taking steps to develop a hotel, apartments and student accommodation in the Central Station precinct. 

The corporation intends to raise the money for this and other property plays by then selling off $40 billion worth of transport assets. 

Labor obtained details of TAHE’s plans through the NSW Legislative Council. NSW Shadow Treasurer Daniel Mookhey said TAHE’s plans were alarming.

“The government has ignored multiple warnings from its own advisors about how dangerous it is to let a for-profit company run our railways,” Mr Mookhey said.   

“Secretly plotting to build a hotel above Central Station shouldn’t be TAHE’s core business. Its job is to manage our railways safely. 

“The only reason why the government is now scheming to turn TAHE into a giant property developer is to plug the multi-billion hole it’s burning in the NSW budget.”

The NSW government rushed to authorise a $5.2 billion bailout of the TAHE in December last year. It came after the Auditor-General took the rare step of refusing to sign-off on the accuracy of the state’s accounts amidst concerns that Mr Perrotett’s government was using TAHE as a device to artificially reduce the size of the state’s budget deficit.  

TAHE is a for-profit state corporation worth $20 billion. It owns all the rail property assets, rolling stock and rail infrastructure in the Sydney metropolitan area. The Premier created TAHE in 2018. Until last year, he was TAHE’s main shareholder. 

Mr Mookhey said:

“If TAHE wasn’t a financial disaster, it wouldn’t have to auction $40 billion of the public’s transport assets.  

“The Premier needs to tell the public how much more money he’s willing to waste on this budget con.”
DANIEL MOOKHEY MLC
NSW SHADOW TREASURER