Mt Annan Botanic Garden Masterplan
Financial Appraisal and CBA
The Trust commissioned a multi-disciplinary team to review the current commercial strategy and pattern of the Australian Botanic Garden Mount Annan, provide opportunities and constraints to increase site revenue and develop an economic and development strategy, in line with the design of the new concept masterplan.
As part of the team lead by APP, HillPDA prepared three separate reports to inform the master plan and strategy – a market appraisal report that benchmarked Mt Annan to various international botanic gardens and other venues, a financial appraisal of the two development options and an economic cost benefit analysis.
Our value add
In the first stage HillPDA was able to introduce additional land uses on site including tourism and accommodation uses from benchmarking to other interstate and international venues.
In the second stage of the study HillPDA quantified the financial returns and risks and the broader economic (social) cost benefits of the two preferred master plan options which incorporated 28 different land use components including glamping accommodation, science and research facilities, bio-domes, indigenous farm and garden, nursery, food services, adventure park, various events, bio-diversity conservation, conference centre and the like.
With an upfront capital cost of almost $300m achieving an adequate financial return to cover the cost of capital and the risks proved challenging. However, the broader economic benefits were significant demonstrating a strong return. These included use benefit (increased visitations, events, recreation and health/fitness), gross value added from increased jobs on site in science, research and education and also bio-diversity (flora conservation). The project was granted $200m in Westinvest funds to proceed.
- Market appraisal
- Financial appraisal
- Economic appraisal (cost benefit analysis)
- Risk assessment.
Client: Royal Botanic Gardens and Domain Trust
Project year: 2021
For more information, contact Adrian Hack, Principal