Kensington to Kingsford
Development Infrastructure Contribution Scheme
HillPDA was commissioned by City of Randwick to advise of the financial viability options for four identified sites in the Kensington and Kingsford South East Light Rail line Corridor. HillPDA undertook an analysis of the current market values, value uplift and a financial assessment of proposed development contributions. The report contained details of our market analysis for each of the sites including current purchase prices, probable development costs and current developer charges along with apartment sales values to provide a robust financial model to test impacts of varying developer charges.
Our value add
This Study was reported in three stages:
- Market Advice: Stage 1 provided market advice on the test Sites in the Study Area. The advice informed land purchase prices used in the feasibility analysis
- Assessment of Value Uplift: Stage 2 involved testing a hypothetical development feasibility based on revised planning controls. The feasibility analysis identified the total value uplift achieved on each selected Sites. The advice informed the viability of the four sites and the potential community infrastructure contribution
- Development and Infrastructure Contributions Assessment: Stage 3 tested the total affordable housing percentage, community infrastructure contributions ($/sqm) and Section 94A development contributions for each site based on the revised planning controls outlined in Stage 2. Stage 3 informs the viability of the sites; also it informed the total net planning capacity and affordable housing contribution.
- Market Research
- Market Appraisal
- Development Feasibility Testing
Client: Randwick City Council
Project date: 2016
For more information, contact Virginia Phillips, Associate