Urban Enterprise provides advice to State Government, Local Government and developers in relation to development economics, land demand and supply and economic impacts. We are regularly engaged to provide assessments of commercial, retail, residential, industrial and tourism projects and provide analysis based on best practice demand and supply modelling techniques.
Our team of qualified professionals have experience in preparing expert witness statements and presenting at planning panels and tribunals in respect of economic issues associated with planning applications and amendments.
Development feasibility and heritage economic assessment for 348-apartment precinct;
Urban Enterprise was engaged to prepare an economic assessment of the demolition of the heritage-listed Old Members’ Stand at Flemington Racecourse and replacement with a new, expanded grandstand. The economic assessment was required to address the provisions of Section 73(1)(b) of the Heritage Act, to support the permit application for demolition. This included an assessment of the costs of retaining the old stand, the contribution of the VRC Members to the finances of the VRC and the importance of expanding the member base, and the significance of the Melbourne Cup Carnival to the VRC and the Victorian economy and the need to support the Carnival with state-of-the-art facilities. A permit has been granted for the demolition and the new development.
Urban Enterprise initially undertook a feasibility study into developing land which was surplus to the Golf Club’s requirements, and was then engaged to seek a Joint Venture partner to develop the site. This involved preparing a clear Brief for seeking expressions of interest, procuring bids from prospective JV partners, assessing the bids and advising the Club. Urban Enterprise was then engaged to manage the Joint Venture, which involved executing a JV Agreement and monitoring the performance of the JV. The outcome was a highly successful development with financial returns to the Club that exceeded expectations.
Urban Enterprise is involved in advising Porta Investments in respect of the development and disposal of its site in Fairfield. This has involved assessing the property market and town planning controls and undertaking a financial feasibility assessment of the redevelopment of the site. Urban Enterprise has now been engaged to manage the process of achieving planning approval.