Cordell Construction Monthly

Transcription

1 DATA FOR MAY 2017 Cordell Construction Monthly

2 Pipeline - Australia 7% 4% 4% 2% 40% 20% 27% 7% 57% 14% 9% 9% 2,185 $16.7 billion Number of Projects Estimated Value Civil Engineering Commercial Community Apartments & Units Industrial Mining Median Project Value Civil Engineering $608,000 Commercial $1,000,000 Community $1,000,000 Apartments & Units $1,200,000 Industrial $920,000 Mining $2,000,000 2 Cordell Monthly Construction Update May 2017

3 Pipeline - Location Apartments & Units Civil Engineering Sheet Map based 1 on Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which keeps CIVIL ENGINEERING. Cifer COMMERCIAL Commercial Community Sheet Map based 1 on Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which keeps COMMUNITY. Map based on Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which keeps COMMERCIAL. Cifer INDUSTRIAL Industrial Map based on Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which keeps INDUSTRIAL. Mining Map based on Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which keeps MINING. Cordell Monthly Construction Update May

4 43% Moving into construction - Australia 8% 5% 21% 28% 44% 16% 10% 15% 9% 1,003 $5.8 billion Number of Projects Estimated Value Civil Engineering Commercial Community Apartments & Units Industrial Mining Median Project Value Civil Engineering $700,000 Commercial $1,000,000 Community $1,000,000 Apartments & Units $1,200,000 Industrial $900,000 Mining $2,000,000 4 Cordell Monthly Construction Update May 2017

5 Moving into construction - Location Apartments & Units Cifer COMMERCIAL Civil Engineering Commercial Community Map Sheet based on 1 Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which Map keeps based COMMERCIAL. on Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which keeps COMMUNITY. Cifer INDUSTRIAL Industrial Mining Map based on Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which Map keeps based INDUSTRIAL. on Longitude (generated) and Latitude (generated). Color shows details about Cifer. Details are shown for Postcode. The view is filtered on Cifer, which keeps MINING. Cordell Monthly Construction Update May

6 New South Wales Most of the development across New South Wales has been concentrated in the Sydney metropolitan, specifically in the Sydney City Council region and the Hills Shire. The highest frequency form of commencement was in the civil engineering segment. Lendlease will soon commence construction of the beehive-style Darling Exchange building at Darling Square near the harbour, following development approval by the Minister for Planning. The building is designed by Japanese architect Kengo Kuma, an Australian first for the architect, who is also designing the Olympic Stadium for the 2020 Tokyo Olympics. The Darling Square development will house a City of Sydney library, an innovation hub for start-up businesses, a child care centre, market halls and a roof top bar. The beehive design is achieved by the use of spiral, horizontal timber facade panels. Further west, the face of Sydney is also changing as Dyldam Developments Australia has gained approval for two major projects on former pub sites. The first is for Solstice, a mixed use development including 173-apartments at the former Lone Star Tavern site in Parramatta. The second is for the Bull & Bush Hotel site in Baulkham Hills where, the company has gateway approval for 3 buildings of 8-15 storeys. The buildings will encompass approximately 200 apartments, a library and retail and commercial floor space. Developers also plan to retain and upgrade the existing iconic hotel. Australian Capital Territory The Canberra Light Rail project has progressed with the identification of two potential routes by the ACT government for stage 2 of the project to Woden. One of the suggested routes detours along National Circuit just south of Capital Hill at the centre of Canberra, with the possibility of a third bridge to carry the light rail tracks between the void of the two structures of the Commonwealth Avenue Bridge. A series of consultants have now been appointed for design, reappointing many of the companies used for Stage 1. Consultants include Ernst and Young as commercial adviser, Arup as technical adviser, Turner and Townsend as cost consultant and Elton Consulting for communications. A development application has been submitted for demolition of existing buildings at the Australian National University campus to pave the way for the Revitalising Union Court project. Following a 3-year period of consultation, a plan has been developed for extensive, convenient facilities for the site. These include: a one-stop student services area; a new pool and gym facilities with health services; accommodation for 750 students; flexible, technologically-driven teaching and learning spaces; basement parking for 400 cars; and, an events, theatre and cinema building set in a landscaped environment. Poly Developments Australia has won stage 1 development approval for an A grade tower in George Street in Sydney s CBD. The group purchased two adjacent office towers from Anton Capital last year. The Stage 2 development application will be subject to a design competition, whereby tier-one international architects will be invited to participate. Muswellbrook Shire Council has purchased the Muswellbrook Marketplace shopping centre with a view to reinvigorate the town centre. The council, located in the Upper Hunter region of regional New South Wales, will undertake a significant staged renovation of the building. The Marketplace shopping centre currently sits just behind the main street. The council has a view to enhance accessibility to the centre from the main street. As the Hunter region becomes increasingly popular with international visitors, a timely upgrade to Muswellbrook s town centre may see retail traffic increase in the area. Tenders for managing contractor have been called for an extensive redevelopment of HMAS Watson. The site, located at Sydney s South Head, is home to the Training Authority Maritime Warfare and is part of Fleet Command. The upgrade includes the refurbishment and upgrade of training and mess facilities, accommodation, services and infrastructure. Victoria In Victoria, the month of May saw most developments concentrated in Wyndham, which saw 21 projects commencing in May, 12 of which were residential subdivisions. The highest frequency form of commencement across the state was in the civil engineering segment. As a part of a $308 million investment in the Victorian Budget for 2017/18, a post-sentence detention facility is expected to be built at Barwon Prison. The 10 bed 6 Cordell Monthly Construction Update May 2017

7 facility will house violent offenders who are deemed unsuitable to live in the community after their prison sentence. Gannawarra Shire has received a $600,000 grant from the State Government s Regional Tourism Infrastructure Fund towards a new Nature-Based Tourism Hub that will connect iconic natural assets around Koondrook, Cohuna and Kerang. Located on the banks of the Gunbower Creek, the Hub will include authentic glamping style tents, a camp kitchen. A footbridge will also be provided over the Gunbower Creek that will allow access to the magnificent Gunbower State Forest. The $1.2 million Hub is expected to make significant contributions to Gannawarra s visitor economy by attracting an additional 6,000 visitors annually and enable the establishment of new accommodation and services to meet the growing market. The Andrews Labor Government is helping to replace Castle Carey Bridge, near Glenormiston, which will produce 6,885 km of travel every week through the Agriculture Infrastructure and Jobs Fund. Castle Carey Bridge is an important regional stock and freight route, used to transport milk from farms to processing plants. Cut and Fill Pty Ltd have been awarded the Design and Construct contract to replace the current timber deck bridge with a new 67m long, 9m wide, two-lane concrete deck bridge that will be two metres higher, making it less susceptible to damage and road closure due to flooding. Upgrading the bridge will cut travel distances for B-Double and Higher Mass Limit vehicles by 17.5km and means they will bypass the township of Noorat, making the town safer and quieter. SP Setia BHD Group has had their development application for a $250 million Twin Tower in Melbourne referred to the Minister for Planning. If approved, Exhibition Street will see the construction of two, 70 storey towers overlooking the Carlton Gardens. The buildings will comprise 500 apartments and 504 hotel rooms. The development will also see retail spaces, restaurants, a child care centre, bars, a 548sqm ballroom and 1,333m2 of function space. A curving sky bridge will link the two towers across levels 49 and 50. Queensland Development across Queensland in May was concentrated in the Brisbane City council region, with 13 commencements occurring in the council area over the month. The highest frequency form of commencement was in the civil engineering segment. Azzura Corporation has submitted a development application for its Imperial Square project in Southport, just north of the Gold Coast. The proposal is for a mixed use development with 3 towers, sitting atop a 6 level podium. At 108 storeys, the largest tower in the development would be the southern hemisphere s tallest building. This surpasses a planned project called Orion Towers, a 103 storey development, also on the Gold Coast. The vertical city-type development would include 2,240 units, a hotel with serviced apartments, a university site with an associated library, a medical centre, offices and a shopping centre. The already unprecedented number of renewable energy projects either under construction, or reaching financial close, is continuing to gather momentum. Following dry weather in the wake of Cyclone Debbie, Collinsville in the Whitsunday region will soon see a new solar project get off the ground. Indeed, the region is likely to become a solar capital in Australia, as it enjoys an average of 300 days of sunshine a year. Ratch Australia s 42.5 megawatt solar farm has reached financial closure, with design work underway and construction expected to commence later this year. UGL has been awarded the engineering, procurement and construction (EPC) contract. Canadian Solar s ARENA-backed Oakey and Longreach Solar Farms have both secured funding from the Clean Energy Finance Corp. RCR Tomlinson has been awarded the design and construct contracts for both projects. RCR Tomlinson has also been awarded an EPC contract with APA Group for the Darling Downs Solar Farm in Dalby. Work is expected to commence in July. With an initial generating capacity of approximately 110 megawatts, this will be one of Australia s largest utility solar farms. Downer has also been awarded an EPC and operations and maintenance (O&M) contract by co-investors, Palisade and ESCO, for a 148 megawatt Ross River Solar Farm near Townsville. As well as a move to solar energy, health and social services will play an increasingly important role in former mining states, where relative affordability and a temperate climate are encouraging for retirees. Brisbane is one of the most ubiquitous areas for aged care and living developments. In the last 5 years, the region has seen over $725 million in aged care and aged living construction, ranging from upgrades of existing facilities to a $60 million integrated care facility at Carina. By 2020, a further 22 projects in the space are expected to be completed. Expressions of interest have been invited for a principal contractor for a major refurbishment of Redcliffe Hospital. Tenders are now being rolled out for the Queensland government s Ageing in Place pilot project, an initiative to provide variable housing and care options, which Cordell Monthly Construction Update May

8 enable seniors to remain close to family and friends in remote or regional towns where there is a shortfall in accommodation suitable for older people. Ageing in place models of seniors accommodation are becoming increasingly popular, because it allows residents stay on a site for a longer period of time, making residential investments more economically viable. Economic Development Queensland (EDQ) engaged with local governments, the development sector and community organisations to identify candidate towns to pilot the Ageing in Place initiative. Tasmania In Tasmania, most developments have been concentrated in Hobart. The highest frequency form of commencement was in the civil engineering segment across Tasmania. Based on the draft master plan, the Doone Kennedy Aquatic Centre is undergoing a $22 million redevelopment. The City of Hobart will fund $12 million of the project, and has lodged an application to the Federal Government to fund the remaining $10 million. The redevelopment is expected to upgrade amenities, accessibility, administration areas, multi-use and personal training spaces and a new spa. Planning will continue once public engagement results have been reviewed. South Australia In South Australia, most developments have been concentrated in the Port Adelaide Enfield area. The highest frequency form of commencement in the civil engineering segment within South Australia. The South Australian Shipbuilding Infrastructure Upgrade (SASIU), will facilitate the modernization and successful delivery of the Future Frigate Program, delivering naval surface ships in Australia. The project is designated to developing Osbornes future shipbuilding capability and is a significant economic project for the state of South Australia. Aurecon Australia, agent for overseas Danish Developer, Romball Group, has submitted development applications to the Development Assessment Commission to start the ball rolling for the multi-million dollar project. Works will include preliminary early site works, three main assembly and outfitting halls, ancillary facilities for administration and staff amenities and refurbishment of existing facilities. Expressions of interest have been invited for a design/ construct package for the long awaited Gawler Rail Electrification project. The electrification of the line between Adelaide to Salisbury, has stalled several times. Stage 1 from Adelaide to Salisbury is fully funded by the State Government at a cost of over $152 million. However, the remainder of the line from Salisbury to Gawler still remains unfunded. The latest priority list from Infrastructure Australia lists the project as a proposed initiative and was still at business development phase in February The Torrens Rail Junction, located in Adelaide, has seen a site office set up in Bowden by Laing O Rourke in preparation for an upgrade. It is envisaged this project will reduce delays at level crossings, see increased productivity on major inland rail, and be completed by the end of The next stage of the North-South Corridor, a major roads project between Old Noarlunga and Gawler, has been announced. This section of South Road, between Regency Road and Pym Street will add to the three major South Road upgrades currently underway. The plan builds on the current Torrens to Torrens works which eliminated the South Road intersection at Port Road, and would add a new overpass to the north at Regency Road. The new upgrade would then connect to the already free-flowing South Road Superway. This plan would remove two existing traffic light stops, creating a continuous non-stop stretch of 47 km. Another major civil project, the Oaklands Crossing (intersection of Morphett and Diagonal Roads), is also in early planning. The State Government has sent a project proposal to the Federal Government but is yet to put a final business case forward to Infrastructure Australia which must be done if they are seeking funding of more than $100 million. Western Australia Western Australia saw most developments concentrated in the council region of Stirling. Across Western Australia, the most common form of commencement was in the civil engineering segment. Following a renegotiation, the Roe 8 project (a major roads works project) will be delivered in three stages by CIMIC Group Company, CPB Contractors and its alliance partners Georgiou Group, WA Limestone, GHD, AECOM and BG&E. The project is valued at approximately $276 million. It will involve connecting Murdoch Drive to the Kwinana Freeway and Roe Highway to provide greater access to the Fiona Stanley Hospital and Murdoch Activity Centre. An upgrade to Wanneroo Road to transform it into a dual carriageway between Joondalup Drive and Flynn Drive will also take place, as well as an upgrade to Armadale Road to a dual carriageway between Tapper Road and Anstey Road. Stage 1 of construction is expected to commence almost immediately and the following stages in the financial year. GO contractors has been awarded the contract for a $17.6 million upgrade to Albany s Timewell Road wastewater treatment plant. Construction is expected to commence later this month and be completed by mid This will ensure the wastewater treatment plant continues to provide a reliable service to residents and businesses by increasing the plant s capacity. The McGowan government will be working with the city of Fremantle for a solution towards the traffic congestions and road safety along Stirling Highway and High Street. $118 Million has been dedicated from 8 Cordell Monthly Construction Update May 2017

9 the $2.3billion road and rail infrastructure package for Western Australia to deliver a comprehensive alternative to the Perth Freight Link. Northern Territory In the Northern Territory, most developments have been concentrated in Darwin City with the highest frequency form of commencement in the civil engineering segment. The federal government has granted environmental approval for stage 1 of a $2 billion prawn farm development named Project Sea Dragon. Stage 1 is a grow-out facility at Legune Station near Kununurra which will comprise 1,120 hectares of land based ponds, and 324 hectares of internal recycling ponds. A feasibility study is underway for Darwin City Water Park, a Bali-style water park located on the old naval fuel tanks site on the Darwin Waterfront as part of the government s plan to revitalise the CBD. Mining The mining sector saw four mining related construction commencements worth $25 million in the month of May. The pipeline was more active with 82 prospective projects worth a combined $332 million not yet commenced. The EPC contract for the Woodlawn zinc-copper processing facility has been awarded to CIMIC Group s mineral processing company, Sedgman. Construction is expected to commence mid-2017 for Heron resources Limited comprising civil, structural, mechanical, piping, electrical and commissioning works for the zinc-copper crushing and processing facility. The Woodlawn site is located 30km south of Goulburn, NSW. The project will bring $107 million of revenue for Sedgman, and will enhance their position as a global mineral specialist. Iron road s Central Eyre Iron Project has received Mining lease approval and development approval this month. The $3.98 billion project is an open cut iron ore mine development to include the construction of a new port facility at Cape Hardy and is a collection of three iron occurrences (Warramboo, Kopi and Hambidge). Data Disclaimer In compiling this publication, RP Data Pty Ltd trading as CoreLogic has relied upon information supplied by a number of external sources. CoreLogic does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to CoreLogic for the supply of such information. Aggregate value estimates and median project values are based on raw data from the Cordell Connect database. Data from Cordell Connect includes project values as advised by the project managers, or are estimates provided by Cordell researchers. Cordell Monthly Construction Update May

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