Client: WSP State: NSW AEC were engaged by WSP to provide land acquisition cost estimates for benchmarking and assurance purposes as part of a review of Council infrastructure project funding applications submissions under the Accelerated Infrastructure Fund (AIF). AEC reviewed seven projects each requiring land valuation estimates and acquisition cost estimates prepared. The land acquisition cost benchmarking exercise aimed to capture the cost of acquiring the freehold interest in the land (i.e., market value assessment), and where applicable, added land acquisition cost allowances which were then compared and benchmarked against the land acquisition cost estimates proposed by the local council for the shortlisted infrastructure projects as part of the review process. Project values ranged from $10mil to $50mil. Source: Department of Planning and Environment

Client: Australian Industry Trade College (AITC) State: NSW AITC is a co-educational trade school where Year 10, 11 and 12 students can complete their senior secondary education whilst also commencing a school-based apprenticeship within a trade-based industry. AEC were engaged by AITC to conduct two concurrent Expression of Interest (EOI) campaigns to assist them in potentially sourcing new sites for their existing Toowoomba and Redland campus operations. AITC had very specific criteria that was required to be met to occupy new premises. The purpose to engage AEC was to have an independent consultant undertake the campaign and reach the broadest possible audience. In addition to conducting the EOI campaign, documenting and screening all responses, AEC also prepared an evaluation framework whereby the three most suitable properties for each region were shortlisted (based on predefined criteria) to expediate the process for AITC. Source: realcommercial.com.au

Client: NRMA State: NSW NRMA were considering the divestment of multiple real estate assets across New South Wales (NSW) and the Australian Capital Territory (ACT). These assets ranged from office towers through to motor servicing facilities. To assist NRMA in their decision-making process, AEC were engaged to prepare a Divestment Options Analysis Report for the selection of assets to be divested. The purpose of the engagement was to identify the most appropriate divestment strategy and potential divestment options available to NRMA. The scenarios deemed most appropriate, feasible and conforming with current local planning development controls were then tested using traditional real estate valuation techniques to determine an estimated potential sale realisation for each asset. Source: FDC Building

Client: Dubbo Regional Council State: NSW The Dubbo Regional Council (Council) is a local government area located in the Central West and Oranga regions of New South Wales. In recent financial years, Council has reported consolidated new operating deficits for three prior financial years (2019/20, 2020,21 and 2021/22) and adopted a budget for 2022/23 with a net operating deficit. Underlying the consolidated net operating deficits were significant operating deficits in the General Fund - which includes all services other than those funded by the Water Fund and Sewer Fund. AEC was commissioned to undertake an urgent and independent review of the financial sustainability of the Council. AEC provided Council the findings of the review and provided effective strategies to improve the Council's financial sustainability and compliance with the Local Government Act 1993. AEC addressed Council's past financial performance and their current financial position, reviewed the costs of services in liaison with respective service managers, conducted a review of the forward plans, with a focus on asset management, and identified the implications on the long-term financial plan. From this, developed AEC developed an independent forecast of Council's forward financial position and presented strategic options for Council to improve its projected position and long-term sustainability. Furthermore, a comprehensive review of the current Resourcing Strategies, which encompassed the Council's Long-term Financial Plan, Strategic Asset Management Plan, and Workforce Plan, was conducted. This review generated recommendations aimed at enhancing future performance and ensuring alignment among these strategies as well as with other existing Council strategies and plans.

Client: Snowy Monaro Regional Council State: NSW AEC was engaged by Council to undertake an independent financial sustainability review of the Council. On completion of the project Council resolved to accept the 24 recommendations provided by AEC, including preparing a revised Long Term Financial Plan, Asset Management Strategy and Workforce Management Strategy and submitting an expression of interest to IPART for a special rate variation application to significantly increase the general rates. AEC provided the following as the project deliverables: Overview of the historical and current financial performance. Development of an independent forecast of 10 year forward financial statements and reserve balances. Overview of the current services and adopted strategies and plans for future provision of services. Review of the financial impact of the Snowy Mountains Special Activation Precinct. Review of the sustainability of operational activities from the current revenue base. Review of the asset management approach and capital works plan. Benchmarking with other Group 4 Councils. Development of external fact sheets and community engagement. Stakeholder engagement with OLG and other key stakeholders. Final Report and External Fact Sheet on key findings. Source: AEC

Client: Ku-ring-gai Council State: NSW AEC Group was commissioned by Ku-ring-gai Council (Council) to carry out a Retail and Commercial Centres Strategy (‘the Strategy’) to assist with place-based future planning for the centres. AEC partnered with LocationIQ and SJB Planning to provide Council with a comprehensive analysis to allow for informed decision-making regarding future land use. The objective of the Retail and Commercial Centres Strategy was to give Council, the community and development industry direction in terms of the future planning of centres in Ku-ring-gai and to provide for sustainable retail and commercial centres that meet the community’s needs. The following works were undertaken to inform the Strategy: Analysis of the existing retail and commercial centres, including a floorspace audit of the local and neighbourhood centres in the LGA, and competitive analysis and assessment of the provision of surrounding retail facilities and commercial precincts, and the impact of these centres to Ku-ring-gai. Analysis of the macro-economic trends influencing the future of retail and commercial lands, and land use patterns alongside population changes and growth. Property market assessment to ascertain respective performance and role of the retail and commercial land (built form, offer/amenity, and market pricing/dynamics) to understand market desirability and aggregated patterns of supply and demand. Assessment of population growth and projection of future employment growth to ascertain future retail and commercial floorspace demand under baseline and alternate scenarios. The findings informed the principles and recommendations for Council’s planning framework to facilitate and accommodate population growth and retail and commercial floorspace demand. The Strategy investigated opportunities for growth within the centres, as well as defining the role and function of each centre. A centres hierarchy was also developed to identify the type and extent of future floor space required for retail and commercial uses, and optimum locations for the additional floorspace. Source: AEC

Client: Landcom State: NSW AEC was engaged by Landcom to carry out an Economic Assessment of the Cherrybrook State Significant Precinct. The Study was part of a larger, overall State Significant Precinct Study, which took a whole-of-precinct approach to consider suitable land uses, development typologies and amendments to planning controls necessary to support a transit-oriented development at Cherrybrook. AEC undertook property market research, analysis of market activity and development pipeline as well as an assessment of retail and commercial demand to inform planning for the developable government land and wider Precinct. In particular, key components of work included: Analysis of the market demand for the commercial/retail components (by category and size) of the proposal based on trade area of the proposed local centre and also the impacts on the existing nearby shopping centres. Consideration of opportunities and challenges, potential success and risk factors and consequent implications for development take-up and delivery. Quantification the economic benefits associated with the selected land uses which could eventuate from the Proposal, including employment generation, construction multiplier impacts, etc. Assessment of the net economic impact of the proposal, including the wider economic benefits in relation to employment, commercial and retail impacts. The findings from the Study provided Landcom with evidence-based insights to make an informed assessment on the impacts of the planning proposal for a new town centre on the lands immediately surrounding the station. Source: DPIE

Client: Hornsby Shire Council State: NSW The Byles Creek corridor has been identified as environmentally significant due to the unique environmental, social and aesthetic values of the area. The corridor provides connectivity between the vegetation along Byles Creek and Lane Cove National Park. The connectivity of this corridor ensures the ability for native fauna to disperse between nearby reserves and the national park as well as providing habitat. AEC formed part of a multidisciplinary team, led by Elton Consulting, to undertake a review of the suitability of the planning controls applicable to the Byles Creek corridor, with regard to protection and maintenance of the environmental values of the land (‘Byles Creek Planning Study’). AEC’s role was to assess the potential economic implications of the recommendations of the Study, particularly the economic impacts on the private residential landowners which adjoin the public open space zoned land of the Byles Creek corridor. The outcomes of this Study will be used to inform any recommendations for changes to planning controls, including the Hornsby Local Environmental Plan 2013 (LEP) and the Hornsby Development Control Plan 2013 (DCP). In undertaking this assessment, AEC undertook a precinct level approach to identify residential lots in the Study Area that are likely to be impacted as a result of changes to planning controls. We applied our knowledge of development and feasibility fundamentals and undertook property market research to determine the level of impact and potential economic implications of the Study recommendations. The approach was effectively an assessment of the economic impacts on the privately owned properties between ‘current state’ and ‘future state’ assuming the recommendations from the Study are implemented. AEC’s findings were included in the publicly exhibited Byles Creek Planning Study to assist Council and private landowners in their understanding of the implications of the planning recommendations. Source: Hornsby Shire Council

Client: City of Sydney State: NSW AEC was engaged by City of Sydney to develop a strategy that would create better place outcomes and enable a higher mix of social and affordable housing and reduced market housing for the Waterloo Estate. The strategy considered the feasibility of development and that various levers that could be used to extract value. As part of the review, AEC was asked to consider the viability and the impact of using Community Housing Providers as the lead developers to ensure that profits were used for purpose. Our analysis included the following: Feasibility modelling to address the optimisation of cash flow from the development vs. the optimisation of social housing output, with the development being structure to deliver the maximum number of social and affordable rental dwellings; Delivery models including Development and Operating Corporations Evaluation of different governance models for the delivery of the redevelopment. AEC’s findings provided a basis to facilitate discussions between key stakeholders, with the ultimate aim of facilitating stakeholder consensus regarding the approach to be taken in the redevelopment of the Estate. Source: City of Sydney

Client: City of Ryde State: NSW The Consortium appointed to develop the Ivanhoe Estate were seeking approval for a concept plan which encompasses a higher GFA outcome than that permitted by the planning controls at the time. Due to improved road and rail capacity, infrastructure investment has facilitated higher volumes of development in Sydney. Given this overt relationship between development potential and infrastructure capacity, funding has gravitated to public-private arrangements and user pays charges ascertained via development contributions (e.g., s.7.11, s7.12), Special Infrastructure Contributions (SIC) and/or Voluntary Planning Agreements (VPA). More recently, the retention or sharing of value uplift that ensues from variations or rezoning has become an important source of funding for the provision of new public and social infrastructure for the local community. The City of Ryde engaged AEC to undertake a feasibility analysis to determine the value uplift that will eventuate from the proposed redevelopment of the Ivanhoe Estate. The financial analysis quantifies the change in land value between the development outcome possible under the current planning controls versus the development outcome based on the recent concept plan. This review also estimates the value of the public benefit delivered as part of the proposed redevelopment. It is understood that the preliminary figures presented in the report were to be used to inform negotiations between the Consortium and the City of Ryde. Source: The Urban Developer (2020)

Client: RF Corval State: QLD AEC was engaged by RF Corval to undertake a residential market study and feasibility report on the potential residential development land component forming part of the Bundall Corporate Centre Site. Corval were interested in interrogating the feasibility of developing the residential approved Master Plan (368 apartments) over part of the property (extending to a site area of 14,489m2). In addition to preparing an analysis of the approved Master Plan based on the proposed residential development, AEC undertook a high-level analysis of other potential permissible uses applicable to the Site including commercial and retail development. The purpose of the assessment was to assist Corval with developing a deeper understanding of the Gold Coast residential apartment market and undertake feasibility modelling broadly based on the Master Plan. AEC also conducted analysis on other potential uses for the Site to determine if residential development representative of the highest and best use was another alternate asset class more suitable. Source: DBI(2017)

Client: Banner Asset Management / Gyde Consulting State: NSW AEC was engaged by Banner Asset Management to undertake a feasibility analysis to assist with a divestment strategy for a redevelopment site located at 311 The Horsley Drive, Fairfield, also known as 'George Western Foods'. A concept development application for mixed use residential and ground floor retail and commercial scheme is currently being prepared. The site is situated at the north-western fringe of the Fairfield Town Centre in Sydney's western suburbs and extends to a land area of 29,426m2. A preliminary urban design review was undertaken by Aleksandar Projects in November of 2020 which illustrated a potential massing and built form analysis for the site. The preliminary design comprises 950 apartments, 3,000m2 of retail/business and 1,500m2 of communal space for residence, also doubling as a potential flood shelter. Further, the indicative building heights range from 8 - 29 storey's across three complexes comprising five apartment towers. The total proposed floor area equates to approximately 86,176m2. Source: Aleksandar Projects (2021)