Nelson Cove, Former Cheetham Salt Fields, Geelong Victoria
Stephen established the 'Nelson Cove' Joint Venture between Ridley Corporation and Links Living for the redevelopment of the former Cheetham Salt Fields in Geelong, located on 500 hectares of water-front property. The site is to be developed for a master-planned community including marina, several thousand dwellings, commercial and retail and recreational uses. Activities included coordination of initial feasibilities, due diligence, master planning, feasibility assessments and government and stakeholder negotiations, lodgement of Ministerial approvals for rezoning of the land and the Environmental Effects Statement and Federal EPBC Approval. Having established project feasibility and received Federal and Stare Ministerial consent to start the respective rezoning and Environmental Assessment and Processes, a private expression of interest process was run to find a development partner to deliver the project. The Joint Venture with Links Living was established (Stephen remains a Board Director of the Holding Company Nelson Landholdings P/L) to pursue redevelopment of the site. The project is in the planning stage.
Dry Creek Closure and Redevelopment, Former Dry Creek Salt Fields, Adelaide South Australia
A multi-faceted and complex project, Stephen coordinated all aspects of the closure and redevelopment of the former 10,000-hectare Dry Creek Salt Field in Adelaide, South Australia. The site comprised a 30 kilometre strip of coastal land transecting several Councils and growth areas, and originally commenced under a Joint Venture between Cheetham Salt and Delfin Lend Lease for a 10,000 lot master-planned community. Whilst redevelopment of the site was proven after two years of investigations and master-planning, the Joint Venture was dissolved by Cheetham due to its on-going contractual obligations to continue to supply salt to Penrice under a long term salt supply contract from the site. Several years later, Penrice went into receivership and the project very quickly became one focused on operational and mine closure and compliance under the suite of Federal and State legislation that applied, whilst concurrently exploring ways to minimise costs and maximise value from the site.
A Government led Strategic Technical Advisory Committee was established to oversee all aspects of closure and future redevelopment of the site, of which Stephen was a representative. Stephen managed all aspects of operations, site closure, re-use and redevelopment strategies and the commercial strategy for Ridley to wind down operations, minimise its closure costs and maximise its returns.
The closure strategy led to the decision to divest the site through a series of transactions rather than pursue a technical closure of the site at an estimated cost of $25M. A staged expression of interest process was undertaken which led to the sale of the shares in the holding company to a private business for $36M cash consideration, whilst various other parcels were sold separately to create further value. Post sale of the assets, Stephen was engaged by the new owner to provide advisory services including establishing a Joint Venture between the landowner and the South Australian State Government for redevelopment of the site as a master-planned community, and managing the design and compensation process for the proposed northern connector freeway proposed to be constructed through the site.
Bendigo Industrial Project for Ridley Agriproducts Pty Ltd, Victoria
The project involved identification of potentially suitable sites for development of a new feed mill in the Bendigo region, Victoria. The process led to selection of a site in north Bendigo, and Stephen coordinated all technical and planning due diligence to inform Ridley's feasibility, negotiated acquisition of the land with the landowner and conducted all contract negotiations including coordination of legal reviews. The land as acquired by Ridley in 2017, and Stephen is now finalising planning approvals which will be secured in early 2018. Construction of the $40M facility is due to commence in mid 2018.
- Divestment of Bowen Land Development Corporation P/L in Bowen Qld, including sale of all shares in the holding company, land assets, Crown Leases and Licences and infrastructure.
- Divestment of 3 hectares of surplus industrial land in Dandenong, Victoria or behalf of Ridley Agriproducts P/L, including partial demolition of buildings to improve saleability and value.
- Site identification, due diligence and land acquisition for a 5 Hectare site in Tasmania for an aquacultural feed mill including site due diligence, all commercial and contract negotiations and Legal Agreements.
- Prepared and implmented strategies to maximise value of 912 Hecatres of land adjacent to Avalon Airport for Lara Land Development Corporation. The strategy led to subdivision of the land including securing all approvals, divestment of sites to multiple proponents and all contract negotiations.
- Conducted Property Due Diligence, Financial Modelling and recommendations to the Babcock and Brown executive and Board for acquisition of sites and master planned projects across Australia for ASX listing of the Residential Land Partners portfolio (approximately 45 properties assessed). The recommendations led to Babcock and Brown acquiring and/or Joint Venturing approximately $300M of property and projects.
- Development managemment services for residential master-planned projects including Sanctuary Lakes, Sandhurst Club, Renaissance Rise Mernda, Grandview Officer, Pacific Dunes Port Stephens and Ascot Vale for a range of developers including Citta, Metricon, Links Group, BMD and Urbex.
- Planning Manager - Portsea Point Nepean Land Master Planning Project, Victoria, Commonwealth Department of Defence.
- Project Manager - Nirranda South Windfarm Scoping Study and Environmental Effects Statement, Victoria, Windfarm Developments New Zealand Pty Ltd.
- Toora Wind Farm Planning Permit approval, Victoria, Stanwell Corporation.
- Project Manager - Somerton RANAD Site Master Plan, Victoria, Commonwealth Department of Defence.
- Project Manager - Former Greenvale Hospital Due Diligence and Master Plan, Victoria, Victorian Government Property Group (Department of Treasury and Finance).
- Project Manager - Hazardous Waste Siting Project, Victoria, Office of Major Projects / Department of Infrastructure.
- Strategic Planning Manager - Tasmanian Natural Gas Project, Victoria, Duke Energy International.
- Prepared the Town Centre Master Plan for the Caroline Springs Town Centre for Delfin Lend Lease, and provided on-going planning advice on land use options, project design, staging and implementation for delivery of the Town Centre.
- Project Manager - Stormwater Management Plans (5 Municipalities), Victoria.
- Project Manager - Spotswood Outline Development Plan, Victoria, City of Hobsons Bay.
Ø Project Manager - Stormwater Management Plans (5 Municipalities), Victoria.