Market Assessment for 24-26 Railway Parade, Westmead
Client: Drill Pty Ltd
AEC was engaged by Drill Pty Ltd to assist in understanding the potential revenue associated with the land uses proposed for 24-26 Railway Parade, Westmead (‘the Site’). This assessment was required to assist with Drill’s internal development feasibility modelling. The land uses contemplated were (1) retail and commercial uses, (2) medical-related commercial uses, (3) hotel, Travelodge brand, and (4) student accommodation. The assessment involved an overview of future growth for the Site, description of demand drivers and influencing factors, a supply assessment (including in comparable markets) and a demand assessment. The deliverable was an excel workbook that combined the analysis and background research, as well as a listing of the revenue assumptions for Drill’s feasibility modelling.