Deloitte Real Estate Portfolio

Case studies

Deloitte Real Estate Portfolio

Case Studies

Occupier Advisory

Global Gas Company:
ISSUES
  • Global gas company located across multiple buildings in the Brisbane CBD and regional Queensland
  • The total corporate real estate portfolio comprised approximately 25,000 square metres
  • The company was facing a substantial forecast increase in project staff, and there was uncertainty surrounding the existing portfolio and any requirements, opportunities and risks relating to the acquisition of new leased space.

SERVICES

  • Engaged to identify the Company’s current and forecast seating requirements and develop a corporate real estate strategy
  • The role was expanded to include make good negotiations, the procurement of leasehold office and industrial space, project management, development management, fit out delivery, lease end and surrender options and lease negotiations.

OUTCOMES

  • Created a corporate real estate strategy that has been endorsed by the Australian Executive Committee and global parent company
  • Saved the Company approximately $6.0 million in rental costs and $0.2 million in make good obligations
  • Managed the acquisition of multiple premises totalling over 4,000 square metres in CBD and regional areas with significant supply constraints
  • Project managed the delivery of multiple office fit outs, two warehouses in regional Queensland and a portfolio of new houses in the Surat Basin.

Project and development management

Residential townhouse development:

ISSUES

  • Large site encompassed an area of 28,964m²
  • Difficult design due to substantial easement and topography of the site
  • Council reviews of initial Development Application requested changes that would not maximise profit for the client.

SERVICES

  • Master planning, feasibility and lot mix yield analysis
  • Appointment of sales and marketing team
  • Consultant appointment and management
  • Development Application preparation and lodgement
  • Infrastructure Agreement preparation and negotiation
  • Landscape and streetscape/entry statement design
  • Central facilities design and specification

OUTCOMES

  • Deloitte was engaged to manage the development with an objective established to achieve maximum yield and improve profitability
  • Deloitte’s market analysis looked to provide a product mix that would appeal to both investors and owner occupiers
Residential land sub division:

ISSUES

  • Client was mortgagee in possession of partially developed property
  • Original approvals had lapsed and works completed had become degraded.

SERVICES

  • Master planning, feasibility and lot mix yield analysis
  • Appointment of sales and marketing team
  • Consultant appointment and management
  • Development Application preparation and lodgement
  • Infrastructure Agreement preparation and negotiation
  • Landscape and streetscape/entry statement design
  • Central facilities design and specification
  • Operational works design and lodgement
  • Resolve issues with Council for detailed infrastructure built for alternative use
  • Facilitate infrastructure agreement
  • Development management.

OUTCOMES

  • Deloitte Real Estate undertook development management services to negotiate the Development Approval and Operational Works Approval for 181 residential lots
  • Deloitte was also engaged to managed construction and project delivery as well as provide sales and marketing support.
Residential apartment development:

ISSUES

  • Located in a high profile location in close proximity to Brisbane CBD
  • Had an original approval that didn’t meet market demand and wasn’t feasible
  • A material change of use development permit to construct a 66 apartment complex
  • Challenges with contractor due to latent conditions and construction method
  • Replacement of superintendent due to unsatisfactory performance.

SERVICES

  • Product and market analysis
  • Created a development concept that was demanded by market and feasible
  • Attend PCG meetings to ensure the critical path isn’t effected
  • Management of construction costs and budget
  • Feasibility modelling and valuation management
  • Superintendent services
  • Defects rectification
  • Dispute resolution.
Residential apartment and retail complex:

ISSUES

  • High end development
  • Located in a high profile location in close proximity to Brisbane CBD
  • Original design wasn’t feasible
  • Fast track approvals and launch phase
  • Complicated integration of retail ground floor
  • Major soil issues and underground services complications.

SERVICES

  • Product and market analysis
  • Created a new development concept that was demanded by the market and financially feasible
  • Attended PCG meetings to ensure the critical path isn’t effected
  • Management of construction costs and budget
  • Coordinating sales and marketing team
  • Feasibility modelling and valuation management
  • Coordination of retail integration
  • Oversee sales and marketing strategy
  • Implemented strategy to sell out project
  • Superintendent services
  • Dispute resolution
  • Project management services
  • Development management.
Industrial warehouse development:

ISSUES

  • Remote location
  • Range of infrastructure works requiring successful delivery as part of a strategic growth plan.

SERVICES

  • Determine business needs
  • Design and delivery of trunk infrastructure
  • Contractor appointment and management
  • Contract administration/management of construction costs and budget
  • Manage design and construction
  • Project management.

OUTCOMES

  • Successfully procured and project managed the construction of several industrial warehouses with site offices
  • Successful engagement of location contractors
  • Timely processing of claims, allowing for continuance of onsite construction works
  • Constant project monitoring.
Commercial office fit out:

ISSUES

  • Access to Deloitte Real Estate’s Occupier Advisory services team allowed the Project Management team to have insight over the entire project
  • The project presented a tight programme due to an expiring lease
  • Client budget constraints and specific office requirements.

SERVICES

  • Base building approval
  • Private certifier approval
  • Engaging project delivery team
  • Design inputs
  • Management of construction contract
  • Review and assess progress claims, and variations
  • Managing tight programme and budgets
  • Obtaining Certificate of Compliance
  • Issuing Practical Completion letter to the contactor
  • Client side project management.

OUTCOMES

  • Successful delivery of 1,000m² office fit out
  • Timely processing of claims, allowing for construction works to remain on programme
  • Constant project monitoring
  • Satisfied client referring additional work from other office locations throughout Australia.
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