Development Management and Investment Services  | Grant Thornton and Westpac

Capital Insight was recently engaged by Westpac and Grant Thornton to consider realisation options and manage the sale of a distressed site in Newcastle, NSW. The site owner was in receivership and the purchaser market for the residential DA approved site was limited.

Our role involved financial feasibility analysis of the hypothetical development of the land in context with the post GFC environment to establish a realistic, indicative land value. The feasibility of a variety of alternative use options including student accommodation, commercial office and affordable housing were then analysed and participants in each of these sectors approached. Adjoining land owners were also approached to assess the potential for a site consolidation exercise.

As a result of Capital Insight's activities, the site was sold unconditionally within months of our engagement.