Government Property Utilisation
Local and State Government have a responsibility to ensure the property assets they own either serve as a community benefit or are commercialised in some form to reduce the burden on rate payers or the broader community. Venn has expertise in reviewing these portfolios and able to develop a strategy to maximise the benefit of these properties, within the applicable planning structures, to present an opportunity the the investment community will embrace. The process objective is to unlock the potential of these properties with a clear and logical strategy.
As a guide, Venn would following the following strategic process:
- Detailed property review to identify assets and planning framework.
- Consultation with responsible authority to evaluate community benefit and other long term objectives.
- Consultation with responsible authority regarding broader economic strategies and consider how these assets can be utilised to enhance economic development
- Overview of market demand and requirements to attract commercial interest in these asset either a leasehold or freehold interest.
- Provide recommendations for assets to improve utilisation and benefit.
- Financial modelling in consultation with appointed valuers
- Project manage the delivery of the adopted strategy.