News

Expression of interest – Banana properties

18 Nov 2021

The Indigenous Land and Sea Corporation (ILSC) is inviting expressions of interest from Indigenous organisations who have the vision and ability to generate benefits for Indigenous people through the ownership of Mindanao, Tiamby and Somerset, collectively referred to as The Banana Properties. The Banana Properties are three properties located in the Capricornia region of Central Queensland, in and around the town of Banana. Combined the properties total 4,409 hectares, through five parcels of freehold land. The properties are predominately cleared land with improved pasture and are well equipped to support their primary use of pastoral activities.

The Expression of Interest (EoI) Process:

The ILSC is seeking to divest these three properties to an Indigenous-controlled incorporated entity who has demonstrated capability and strong governance to effectively own and manage these properties for the benefit of Indigenous people. The process aims to:

  • Identify a future landowner in which the ILSC can divest The Banana Properties.
  • Provide an opportunity for applicants to outline how activities on the properties will generate economic, social, environmental and cultural benefits for Indigenous people.
  • Provide an opportunity for applicants to outline their capability and capacity to effectively own and operate the properties.

Indigenous organisations are invited to submit expressions of interests, with shortlisted candidates then invited to provide more detailed proposals, including detailed business plans and financial forecasts. Shortlisted entities will also be given the opportunity to inspect the properties. How we will assess your application The Expression of Interest (EoI) is a competitive process. This process involves your EoI being assessed against each of the criteria set out in the application form (summarised below) and against other EoI’s received by the ILSC. At a minimum, the ILSC would expect each applicant to provide the following:

  • Outline of the proposed use of the properties and how this will benefit Indigenous people in the region (opportunities and outcomes)
  • Details of how the proposed land use will ensure the properties remain viable (project viability)
  • Details of existing capability and experience to manage the land (capability)
  • Details of the applicants current financial health and ability to fund activities to be conducted on the properties (financial health)
  • Details of the applicant’s governance structure, functions and obligations and its suitability to receive land from the ILSC

How to apply:

To express your interest, please complete the Expression of Interest Application Form.

Expression of Interest timeframes:

  • Expressions of Interest can be submitted up to and including the 14th of January 2022.
  • Shortlisted applicants will be advised shortly after the Expression of Interest closing date, with opportunity given to conduct property inspections.

All submissions must be lodged using the supplied ILSC Expression of Interest Application Form and submitted via email: EasternOffice@ilsc.gov.au

For further information, including requests for a property inspection, please contact ILSC’s Eastern Division Office on: (07) 3854 4664

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