Project name: Top 20 Projects – Victoria’s Best Investment Sites
Location: 20 Publically owned sites across Melbounre (VIC)
Client: Property Council of Australia – Victoria
Brief: MacroPlan undertook research on behalf of the PCA, acknowledging the driving force of property in the Victorian economy. This paper identified opportunities for the State and Local Governments to act upon to stimulate the state’s economy without spending.
This assessment identified a list of government sites that would be attractive to the private market and are currently either surplus or underutilised. The sale of these assets can underpin the State Governments economic stimulus for Victoria.
Methodology: In order to establish a thorough list of highly investable Government owned sites, MacroPlan adopted a methodology that involved two primary tasks. Task one involved the formation of a comprehensive list of Government owned sites through a lengthy in field consultation process. In this initial phase of the analysis, a series of meetings were held with State Government, Local Government (CEO’s of all Central Activity Areas) and numerous Government agencies.
Task two of the study involved the formation of a merit based assessment tool that aims to refine the initial list into a group of highly investable projects that are likely to attract interest from the private sector. Each site identified through task one has been measured against an established criteria that aligns with the Governments strategic direction for Victoria.
It is important to note the established criterion has been selected with an aim to reach a balanced outcome for both Government and the private sector. Key criteria include:
- Potential for use mix diversity
Result: MacroPlan Dimasi’s detailed analysis ensured a high-quality report was submitted to the PCA and launched publically at a formal event in Melbourne so to take questions from all interested parties. The report is available on the PCA website.