Ryde Civic Place

HillPDA was engaged by the City of Ryde to assist in the financial assessment of tenders for the redevelopment of the Ryde Civic Precinct.  The proposal for the Civic Precinct was a key component of Council’s long held vision to deliver new community and civic facilities and achieve key objectives of the City of Ryde’s adopted Community Strategic Plan. As a result, Council issued a Request for Tender to four developers (selected though a public Expression of Interest process) for the redevelopment of the Ryde Civic Precinct. As part of the Tender Evaluation Committee HillPDA assessed all aspects of the proponents’ financial offers for the development rights and the risks attached and scored and ranked each of the offers accordingly.  HillPDA was also in negotiations with the preferred tenderer.

Our value add

Ryde Council’s administration building was nearing the end of its life and the tender process provided a solution for the delivery of a new Council building at no cost to Council through the sale of development rights on the subject site.

Outcome

The preferred offer would have delivered a new Council building at no cost to Council with few risks.  Council however decided not to proceed with the deal following public opposition.

Services:

• Tender assessment
• Financial modelling

Client: Ryde City Council
Project date: Apr 2012 – Sept 2012

For more information, contact Adrian Hack, Principal