|
Christiana Capital
undertakes due diligence and provides a range of prudential
services for projects of various types in a number of industries.
Examples of prior and current projects undertaken by Christiana
personnel in the construction and property development industries
include:
|
|
Conducted detailed
review of all aspects of this $1.4 billion (construction cost)
project for the financier following developer default on $100
million loan facility. Review included project feasibility,
contractual relationships with consultants, contractors and State
Rail Authority, existing staffing and infrastructure, assessment of
likely value and loan exposure, and options for loan
recovery. |
|
|
Carried out review of
all construction components of the project, a mixed use
commercial/retail complex with 100+ specialty shops (8,307 m2),
public spaces, multi-storey commercial offices (35,495 m2) and 497
carspaces. Review included cost/program, planning, contract
relationships, consultancies and design/construction risk. Report
to client recommended against adopting developer time and cost
estimates. Report conclusions subsequently proven
correct. |
|
|
Carried out review of
this 296-room hotel project for the financier, following financial
difficulties experienced by developer. The project included both
indoor and outdoor swimming pools, spa, steam room, gymnasium and
day spa, restaurants, bars and 11 meeting rooms accommodating up to
550 delegates. This is now the Novotel at Brighton-Le-Sands in
NSW. Click
here for more photos of this
project |
|
|
Project review and
monitoring services for this extensive refurbishment, alterations
and additions to a block of home units in Bondi NSW. Completion
scheduled for April 2009. Private development company and
architect-administered fixed-price building
contract. Click here for photos during
construction. |
|
|
Navutu Tax Free Zone,
Fiji - 80 hectare, 186,000 m2 (building area) industrial
subdivision due diligence
for the World Bank’s International Finance Corporation.
Other work in Fiji has included business analysis and business
plans for redevelopment and funding of existing furniture
manufacturing business servicing Australian markets for IKEA.
Advised owners on development and expansion of both their premises
and business.
|
|
|
Advised Bank in its
purchase of the first three office buildings within this complex in
Canberra, purchased prior to completion. Reviewed all project
documentation and advised Bank on adequacy of documents and control
procedures to monitor completion. Acted as auditor for Bank
throughout completion process and through to conclusion of defects
liability period. Provided similar advice to Bank on CBS Centre in
role similar to National Convention Centre on a project more
substantially complete. Click
here for more
information. |
|
|
Due diligence and
advisory services for funder following default by developer on loan
repayment in 2005. Assignment included review of 200+ existing
units under construction in the greater Sydney area (or in the
approval process) to determine status of each project, realistic
disposal options and potential avenues for recovery of loan
monies. |
Other
property-related due diligence activity includes:
Funds Management
Conducted
prudential review in 2006 of the property development and real
estate management operations conducted by third-party Vendors for a
$300 million managed investment fund – recommending structural and
procedural changes to protect the interests of investors, funds
manager and Directors of the funds management company.
Project Advisory to Institutional Lender on a range of projects,
including:
- Mixed
use project, Bellevue Hill ($ 36 million);
- Office
building, Artarmon ($ 33 million) - Click here
for
details;
- Retirement Village,
Lindfield ($ 30 million) - Click
here for
details;
- Retirement Village,
Strathfield ($ 33 million);
- Panasonic Building,
Terrey Hills ($ 60 million) - Click
here for
details;
- Northbank Industrial
Estate (rectification);
- Engadine
Court Shopping Centre (sundry advice); and
- Ongoing
role as project appraiser and project auditor.
Fitout Audit of Government Architects Branch
Supervised detailed
audit of fitout performance and procedures for the Government
Architect's Branch of the NSW Department of Public Works. This
Branch conducted approximately six hundred (600) fitout operations
per annum at that time. Brief required review of historical
performance of mainstream projects together with recommendation as
to the procedures and controls appropriate to reduce the cost of
"dead rent" and other effects of delayed occupancy.
Asset divestment analysis
Prepared
detailed feasibility analysis for major public company to
appraise redevelopment/ disposal options for their Sydney CBD site.
Analysis included "do nothing", develop and occupy, develop and
partially occupy, and "quit site" scenarios. Review included
analysis of staff demographics as well as design/construction
options for existing
premises, and recommended the outright sale of the site which
ultimately took place.
Click here to read more about
Christiana's "Project rescue" and work-out services.
Click here to read more about
Christiana's Project Management and Development Management
activity.
Click here for details of
Christiana's Due Diligence activities in other
industries.
|
