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