Department of Finance Site Feasibility Study, Parliamentary Triangle

role Architecture, Master Planning

value not disclosed

completed date July 2016

client Ashurst Australia on behalf of the Department of Finance

peckvonhartel was engaged the Department of Finance to deliver a coordinated market testing report for the existing Commonwealth-owned office buildings in Canberra; East Block, West Block, ANZAC Park East and ANZAC Park West. These sites have significant national importance and required a considered and effective feasibility study to determine the possible best commercial use of these sites owned by the Department of Finance.

As part of a specialist team, peckvonhartel developed a feasibility study for the potential sale of key national sites within the Parliamentary Triangle. peckvonhartel and our consultant team reviewed the planning and heritage constraints of each site and developed potential development options which required extensive consultation and negotiations with the heritage architect and planning authority (NCA). peckvonhartel successfully achieved a potential yield which exceeded the client’s expectations and gained approval from the client to proceed to developing a new Development Control Plan for the ANZAC Park East and West sites.

The final report captures the due diligence assessment completed by the peckvonhartel team and provide appropriate levels of information to the Department of Finance and Advisers for the process of market testing the Assets. Following the completion of this report, clarity has been achieved as to the development potential of the sites.

The work undertaken by our team did not just include the planning analysis but demonstrated our communication and negotiation skills, working within the stringent planning and heritage constraints of the Parliamentary Triangle, to deliver a viable commercial opportunity for the client, the Department of Finance.