Master Plan Feasibility - WPCA000350

The Western Parkland City Authority (WPCA) requires professional services to build a Commercial Feasibility Model for the 114ha Bradfield City Centre, undertake land release options analysis and support building internal capability to manage the model, once handed over to the WPCA. The site is supported by a draft Master Plan lodged with the NSW Department of Planning and Environment and is due to be publicly exhibited in late 2023/early 2024. The WPCA is funded to de-risk early development on the site through delivery of enabling works (roads, utilities and open space) and buildings, see map on p.3. Beyond this, the WPCA seeks to position itself to use the staged release of land from the development to be financially self-sustaining in the medium term, leveraging its investment in early enabling works for an initial to the fullest extent possible. The Commercial Feasibility Model is required as an ongoing tool for the WPCA to internally analyse options for land release, understand the impacts of changing market conditions and practically guide its strategic decision making. Most immediately, the WPCA will use the Commercial Feasibility Model to develop its: • Medium Term Land Release Strategy – informed by a quantified understanding of forecast development cashflow (land payments in versus enabling works payments out) for land release options beyond its first Superlot (known as Superlot 1) to: • maximise value from superlots lots created by the WPCA’s investment in early enabling works, noting practical constraints through the site of a metro corridor; and • determine if and when the WPCA will have sufficient cash flow from superlots created to recycle capital into enabling further developments. • Long Term Land Release Strategy – understand the financial potential of the fully developed site, in order to track the development of Bradfield, inform future Master Plan revisions, and understand the feasibility of social/civil infrastructure provision. The WPCA has already procured short term development models for its initial site release – Superlot 1. The results of this initial land release should align/be incorporated into the medium/long term model. The Commercial Feasibility Model will also be used to determine a fair Capital Investment Value (CIV) for the development to determine its local contribution liabilities and negotiate a Voluntary Planning Agreement (VPA) with Council.

8-Jan-2024 to 30-Sep-2024