In the knowledge that it needed to lead by example, the City of Wyndham decided to use its land assets in the Werribee City Centre to catalyse the development outcomes needed to turn the City Centre into a true Activity Centre for its growing residential community. Since May 2014, NAVIRE has been engaged to advise the City on this journey.
Within the context of the Werribee City Centre (WCC) Structure Plan, NAVIRE was engaged to advise the City of Wyndham on how each of its 4 at-grade carpark sites would likely be developed by the private sector and to design the necessary procurement strategy and process to help the City achieve its objectives for the WCC. These objectives included:
- mixed use development outcomes across the sites;
- the delivery of public parking and an Integrated Community Learning Hub;
- receiving an acceptable land price for the sites; and
- having these developments catalyse additional private sector development in the WCC.
NAVIRE’s key responsibilities for the engagement included:
- Reviewing and recalibrating the objectives / vision for the WCC, particularly as they related to the anticipated East Werribee Employment Precinct;
- Examining the viability of existing development proposals of the City for the sites – particularly as they related to the overarching objectives for the WCC;
- Creating feasibility models for concept designs/proposals on the sites and determining the indicative residual land value that could be paid by a developer to the City should the sites be developed in accordance with different sale methodologies;
- Retail and office floor space demand/absorption analysis to help guide the WCC car parking study;
- Design of the procurement process/land sale strategy in relation to the sites;
- Undertaking a market sounding process ahead of the procurement process;
- Conducting the procurement process with the City, including the assessment of expressions of interest and final proposals from bidders;
- Negotiations with bidders to select the preferred developers and agree Project Delivery Agreements (PDAs); and
- Presentations to City Executive and Councillors throughout the engagement to ensure all decision makers were fully informed and ready to make decisions as and when required.
Where it’s at
PDAs have been executed with Burbank Group for 2 of the sites and Pelligra Group for the other 2 sites to deliver outcomes including:
- approximately 300 apartments and serviced apartments
- function space
- 5-12,000sqm of office space
- 2,500sqm of retail/café space
- 1,400 private and public car parks; and
- an Integrated Community Learning Hub.
Statutory planning and pre-sales will take place during 2017 with construction expected to commence on two of the sites in 2018.