We welcomed a number of new Preston Rowe Paterson offices in 2015 including Tamworth, the Gold Coast, Hobart and Launceston. These new additions bring our total number of Preston Rowe Paterson offices in Australia to 22.
Modern head leased office and restaurant investment. Asset valuation for merger and financial reporting of freeholders interest in 99 year head lease over three tower development. Tower A 27 levels and 51,979m2; Tower B 27 levels and 52,000m2; and Tower C 19 levels and 29,600m2.
This year we were reappointed to continue providing valuation for financial reporting for the CBA real estate portfolio.
We advised Chevron on the value of Caltex Australia’s real estate portfolio in the sale of its equity position in Caltex Australia. This transaction was the largest share trade on the ASX on record.
Strategic rental review advice to property funds landlord and planning for multiple rental reviews in modern 30 storey office tower having a lettable area of 29,780m2 plus 666 basement car spaces; acting for owner.
Another big partnership took place this year with the signing of an agreement with Japanese firm Daiwa Real Estate Appraisal Co.; a long standing property valuation firm with 8 offices across Japan. The new partnership brings forth a number of exciting opportunities for both parties and together we will be producing joint quarterly research reports.
We’ve been providing valuation advice to Goodman for a number of years on its industrial assets located throughout Australia.
Acquisition due diligence management for purchaser/investor and initial property management of 13 level heritage retail and office building with an area of 10,345m2 in the heart of the Sydney CBD.
Rental determination of whole office building comprising 22 levels and 16,746 m2 in dispute between landlord and tenant.
Preston Rowe Paterson expanded into New Zealand via 7 offices this year including a head office in Auckland. This exciting expansion means we have offices in Wellington, Tauranga, Hamilton, Dunedin, Greymouth, New Plymouth and a head office in Auckland.
Funding valuation for ground level retail, bar and restaurant investment Stratum for fund whom provided equity capital.
In August we signed a strategic partnership agreement with valuation group Chinese Appraisal Association (CAA); a market leading valuation firm in China who operate across 18 key areas including Beijing, Shanghai, Guangzhou, Shenzen, Nanjin and Wuhan.
Redevelopment site valuation and rental valuation advice on proposed leasing transaction to Westpac. Commercial office building with 28 levels, podium totalling 77,410m2 and 214 car spaces.
Having been appointed transition asset and property managers at Badgerys Creek, we’ve had a busy year working with the Department of Infrastructure to clear the site for the initial stages of Sydney’s 2nd airport. Earlier this year we set up a site office at Badgerys Creek.
Development site valuations to assist in the sale negotiations with the development proponent.
Having provided valuations to Ausgrid for many years, we recently revalued the Ausgrid portfolio.
Maintaining license conditions, administration of Outdoor Dining Licenses and regular review of licenses for properties throughout Randwick.
We sponsored a number of events this year including the Property Funds Association (PFA) Conference in Cairns, Australian Property Institute (API) Young Property Professionals (YPP), Goodman ‘good+network’ Women In Property Networking Event, the API Excellence in Property Awards and the API Public Sector Property Conference.
Valuation for land value objection purposes.
Property management, leasing and administration of outdoor dining tenancies within North Sydney.
Strategic rental review advice and planning for multiple rental reviews for the owner. Modern 22 storey office tower with a lettable area of 22,908m2 plus 49 basement car spaces.
Directors from PRP offices across Australia and NZ met in Queenstown for the annual PRP conference. This year we had Peter Nolan the RICS Director of Oceania, Bruce Wiggins from the Bank of New Zealand and Scott Curley from GSA as guest speakers.
PRP has valued for either acquisition, sale or development purposes the Four Seasons Hotel, The Shangri-La Hotel, Quay West and Grosvenor Place. We valued the complex ground lease interest in Grosvenor Place for the sale.
Yardi was implemented as the principle software platform for the property, asset and facilities (PAF) management division in 2015. Yardi Voyager Commercial complements PRP Sydney with an end-to-end solution that streamlines the property and financial management aspects of our commercial management division, essentially enhancing the underlying value of our client’s assets.
We're rolling out an investment valuation masterclass in early 2016 for all forms of multi-tenant investment property including commercial, retail and industrial. We’ve developed our own proprietary valuation models for multi-tenant investment properties that will be used throughout the masterclass.
Throughout 2015 we have provided various valuation and consultancy services to the NSW Ports Corporation Authority for lease setting at various sites in Port Kembla.
Strategic rental review advice to property funds landlord and planning for multiple rental reviews in modern 30 storey office tower. A lettable area of 29,780m2 plus 666 basement car spaces, acting for owner.