Mount Penang Parklands
Preliminary Market Assessment
HillPDA was engaged by Hunter and Central Coast Development Corporation (‘HCCDC’) to undertake preliminary market appraisals of several character areas that were developed and identified in the Place Vision for Mount Penang Parklands. Mount Penang Parklands is a tourism, events, business, and education destination and encompasses approximately 155.3 hectares. HCCDC sought to maximise the economic value of the land by identifying character areas which may be redeveloped to introduce artisan industrial, residential and seniors living or expand on existing education and tourism uses.
Our value add
HillPDA identified the highest and best use of each of the character area. Using our market demand analysis, we were able to undertake an appraisal of potential uses in each area.
Based on the site context, HillPDA prepared an action plan that outlined the next steps for the client to maximise the economic value of its land.
HillPDA provided a highly visual and concise report which provided our findings on the following matters:
- Identified property constraints and opportunities and potential scenario development .
- Current and proposed land values: The highest and best use values are based on the current and proposed planning controls.
- Recommendation on the next steps with a focus on the Place Vision – Mount Penang Parklands.
- Market research
- Investment delivery
Client: Hunter & Central Coast Development Corporation
Project date: 2022
For more information, contact Catherine Huynh, Senior Valuer