Projects

Department for the Premier and Cabinet and Department for Treasury and Finance

30,000 SQM for head office

Tenant functional review, space planning, Request for Tender process, feasibility analysis, due diligence and risk management, lease negotiations.

VSA was engaged by the Commercial Property Directorate of the then Department of Housing & Works (now the Government Office Accommodation Directorate of BMW) in October 2007 to facilitate a Request for Proposal (RFP) process for 30,000m2 of new office accommodation for the above Departments and to negotiate a lease with the successful proponent.
As part of the RFP process, VSA was required to review the accommodation requirements for the various divisions of the two Departments including the Premier’s office and the other Ministerial suites within Governor Stirling Tower.
During this time an extensive due diligence assessment was undertaken for the whole project including the Government’s accommodation requirements, the ability of the proponents to deliver the project and the proposed building itself (with an estimated construction cost of $450 million). While the commercial terms were eventually agreed with the preferred developer, the onset of the global financial crisis impacted on the developer’s ability to deliver the project and they withdrew from the process in October 2008.
VSA then managed a new negotiation process with the second preferred developer and essentially went through the above process again over the ensuing 6 months. In April 2009, the Government decided to withdraw from the process due to the impact of the global financial crisis on the State’s budget.