VicTrack Monash

HillPDA undertook research into the development market in south-east Melbourne to inform development feasibility analyses for a range of development options for four sites. The purpose of the project was to:

• Determine if a commercial opportunity exists in relation to land
• Determine residual land value, based on high level development envelope plans to confirm development yields; and
• Identify the most appropriate development (or disposal) strategy in order for VicTrack to maximise the value of the sites.

With the sites located adjacent to train stations and, in some cases, abutting land owned by council, the project identified the optimal development strategy for the sites from a financial perspective. The assessment of strategic development options carefully considered the appropriate structure to ensure replacement of VicTrack’s commuter access car parking

Outcome

HillPDA provided a comprehensive feasibility analysis of key sites with a range of assumptions. HillPDA outlined cost impacts of providing an affordable housing dwelling contribution across all sites. Recommendations were made for future development and land use, with affordable housing contributions tested and included as a variable

Services:

• Strategic asset planning
• Residential market research
• Highest and best use
• Feasibility assessment
• Affordable housing contributions

Client: VicTrack
Project date: 2018

For more information, contact Alex Hrelja, Principal