TWO DAY INTENSIVE MASTERCLASS DEVELOPING IN MELBOURNE VICTORIA Influencing government policy and advocating for the residential property development sector for 44 years Designed to prepare recent graduates, new-to-market and inbound professionals to do business in Melbourne s residential property development sector
ABOUT THE PROGRAM DEVELOPING IN MELBOURNE Program Objectives The Urban Development Institute of Australia (UDIA) is a nonprofit government policy, advocacy, research and educational organisation providing support to a national membership of residential property development professionals, across both private enterprise and public service, for over 40 years. In collaboration with government, UDIA aim to inform and educate industry professionals to achieve excellence in property development and planning outcomes. UDIA is your expert organisation providing leading industry information and insights to university graduates, new-to-market and inbound professionals. The UDIA is A place where leaders come to grow professionally through collaboration and problem solving; Exploring issues of urbanisation, conservation, regeneration, land development, capital formation and the sustainable development of housing and communities; Dedicated to creating better places and facilitates an open exchange of ideas, insights, information and experience between industry leaders and policy makers; Leading the future of residential development and the creation of thriving and sustainable communities by addressing current and future challenges and providing direction on the responsible use of land; Advancing property development policies and design practices that respect the uniqueness of both the built and natural environments; Serving Victorian home buyers by providing diversity of product and adequate supply, which leads to affordable and accessible housing; Accomplishing its mission through the actions taken by its members. 1
ABOUT THE PROGRAM THIS IS MELBOURNE Program Outcomes and Target Audience This 2-Day Intensive Masterclass is designed to introduce recent graduates and new-tomarket, or inbound professionals to the areas of knowledge required to enter Victoria s residential property development market. Each session is designed to provide a high-level understanding of the topics that will empower participants to do business in Victoria, and ask good questions of their project teams and consultants, and understand the answers. Course content is presented by government officials and respected industry professionals who are active in the residential property development sector. Format Content is delivered in a small group lecture format to encourage interactive discussion. Who should attend? Recent graduates New-to-market professionals Inbound investors and developers 2
CONTENT DAY 1 TUESDAY 21 AUGUST DEVELOPING IN MELBOURNE Session 1: 9:00am 9:45am The Vision for Melbourne by the Department of Environment, Land, Water and Planning Presenter: James Mant, Department of Environment, Land, Water and Planning Session 2: 9:45am - 11:00am The Planning Framework by the Victorian Planning Authority Presenters: Paul Cassidy, Victorian Planning Authority Megan Taylor, Victorian Planning Authority What is Plan Melbourne? A long-term plan to ensure a sustainable, productive and liveable growing Melbourne. The vision for Melbourne is to continue to be a global city of opportunity and choice. Plan Melbourne is a metropolitan planning strategy that defines the future shape of the city and guides the growth of our city for the next 35 years. Integrating long-term land use, infrastructure and transport planning, Plan Melbourne sets out the strategy for supporting jobs and growth, while building on Melbourne s legacy of distinctiveness, liveability and sustainability. A basic overview of the planning framework (i.e. different types of development applications, the process for approvals, assessment criteria for planning approvals, strategic planning framework in Victoria and time-frames). VCAT; Planning Panels Victoria; Urban Growth Boundary (UGB); Growth Area Framework Plans; PSP s; Planning Schemes & amendments made through the PSP process; and Water Authorities Strategic Planning (5-Year Water Plans and how they impact bring forward costs, Melbourne Water and their Drainage Schemes, Biodiversity Conservation Strategy (BCS), unique to Melbourne Metropolitan Strategic Assessment (MSA) Growling Grass Frog / Western Plains Grass Lands and the Native Vegetation Information Management Database Acquisition of School Sites). 3
CONTENT DAY 1 TUESDAY 21 AUGUST THIS IS MELBOURNE Morning Tea: 11:00am-11:15am Session 4: 2.00pm 3.00pm The Legal Framework Session 3: 11.15am 1.15pm Melbourne Property Market & Financing Property Presenters: Nerida Conisbee, REA Group Richard Jenkins, MaxCap Group Melbourne Property Market and Market Cycle The Melbourne market cycles explained. Perspective of the Australian property market and key changes in the market in the past few years. A comparison of the Sydney, Brisbane and Melbourne property markets. Financing Property in Melbourne This is how the system works Equity; Debt; Bank requirements; and Facilitated deals. Networking Lunch: 1:15pm-2:00pm Presenter: Alison Kennedy, Clayton Utz The Legal Framework Introduction to different levels of government Foreign investment in Australia: FIRB Approvals Different types of land and methods of ownership. Encumbrances that can affect land. Companies (incorporation, features, legislative framework, practical considerations including how to set up a company, shareholder and director responsibilities) Trusts (establishment, features, legislative framework, practical considerations) Development structures Session 5: 3.00pm 4.00pm Land Acquisitions and Property Purchase and Sale Presenters: Mark Wizel and Julian White, CBRE How to buy and sell in the local market: An important foundation piece understand how the local market works. Wrap-up and Q&A: 4:30pm 5:00pm 4
CONTENT DAY 2 WEDNESDAY 22 AUGUST DEVELOPING IN MELBOURNE Session 1: 9:00am 11:00am Due Diligence Presenters: Mark Whalen, GHD Paul Cassidy, Victorian Planning Authority Megan Taylor, Victorian Planning Authority Site Analysis Insights from a civil engineer on the due diligence process and site-specific matters that require consideration when developing a property. Understand environmental issues that can arise when developing a property. Infrastructure Delivery The Victorian Planning Authority provides a high level overview of ICP/DCP works in kind. An explanation of how infrastructure items are financed, how they are prioritised, and out of sequence development. This will relate to the delivery and payment of GAIC infrastructure, ICP/DCP infrastructure and drainage schemes and how sequencing plays a part in their delivery and timing. Morning Tea: 11:00am-11:15am Session 2: 11:15am 1:15pm Planning Approval Processes Presenter: Dean Fossey & Simon Manley, Hengyi Hugh Lu, Dahua Group Lessons learned from a Greenfield and Infill Developer about entering the Melbourne Market Understand the practical implications of the above sessions and look at the successful execution of projects in terms of decision making, governance and control processes. When developing in Victoria, the PSP is only just the beginning. Hear from an inbound greenfield and infill developer who will share lessons learned from entering the Melbourne Market. Planning Permit process Building approval (where applicable) Engineering Approval Environmental Approvals Community Engagement Process Statement of Compliance/Certificate of Occupancy Marketing, sales and settlements as part of the overall process (the project is not complete until money received and shareholder funds paid) 5
CONTENT DAY 2 WEDNESDAY 22 AUGUST THIS IS MELBOURNE Lunch: 1:15pm-2:00pm Session 4: 3:00pm 4:30pm Developing in Melbourne Session 3: 2:00pm 3:00pm Income Tax, GST and Charges Presenters: Fletcher Dixon, PwC Alison Kennedy, Clayton Utz An Accountant s Perspective Income Tax and GST for new entrants. A Lawyer s Perspective Different Taxes and Charges - Federal, State and Local: GAIC what is GAIC and why it s there; Land Tax; Duties; and Infrastructure Contributions. Presenter: Simon Lee, STM Developments This session will focus on the strategic aspects of operating a successful property business in Australian context, an overview of current market challenges and opportunities, as well as implementation and project delivery of development from acquisitions and feasibility through to procurement and contracts management Challenges faced by developers in Melbourne today; Opportunities still available in Melbourne; Perspective of the future market for development projects; Business Operating Models of major local developers - key project management and delivery processes adopted by successful property companies from site sourcing and acquisition through to project completion - how decisions are made; Project lifecycle - site acquisitions, feasibility analysis, due diligence, design management, contract procurement methods and successful project management tips for each project stage - planning, design, contract, procurement, construction and completion. Example project delivery program of a major project. 6
CONTENT DAY 2 WEDNESDAY 22 AUGUST DEVELOPING IN MELBOURNE Session 5: 4:30pm 5:00pm Investing in Victoria Presenter: Zhining Yang, Invest Victoria We know all this, so how do we implement it? Learn how Invest Victoria and Trade Victoria facilitates the transition for inbound businesses when entering the Melbourne market. Program close: 5:00pm 7
PRESENTERS Alison Kennedy Partner Clayton Utz Fletcher Dixon Director Tax, Private Clients PricewaterhouseCoopers James Mant Manager - Planning Projects Planning Implementation, Department of Environment, Land, Water and Planning Alison is a Partner in the Clayton Utz Melbourne Real Estate Team. She has experience acting on a range of property-related matters, from project development and structuring, including joint ventures and development agreements, through to property acquisitions and disposals, leasing and general property advisory work. She provides clear insight into complex commercial arrangements, and expresses them in simple and effective documentation. Fletcher has over 11 years of experience in advising clients on domestic and international tax issues. Fletcher has previously spent three years working in PwC s International Tax M&A group advising domestic and foreign multinational clients on their global tax issues. Fletcher focused on international restructures, Private Equity investment and tax due diligence engagements. Fletcher provides tax advice to large privately owned businesses. Many of these carry on a property related business, or have a large exposure to property through the core business. Fletcher s advice to the businesses encompasses tax consulting and tax effective structuring, as well as managing tax compliance obligations. Fletcher is increasingly working with foreign inbound property owning clients, particularly those across from the Asian region as they look diversify their property holdings. Fletcher prides himself on providing responsive and commercial advice to his clients, whilst remaining technically astute and risk conscious in an environment of increasing revenue authority activity. James is an urban and regional planner with over 15 years experience. He studied in the UK and Netherlands and started his career in Ireland. He has worked on a diverse range of projects, including in the award winning Rural Council Planning Flying Squad and also led work in a team responding to the Bushfire Royal Commission recommendations. He was recently part of a small policy team that developed the refreshed Plan Melbourne 2017-2050, this project received a commendation from the Planning Institute of Australia. He is now leading work to further develop 20-minute neighbourhood policy and to progress its implementation across Melbourne. He is a passionate advocate of walkable urbanism and is seeking to progress this agenda in Australia through the work on 20-minute neighbourhoods. 8
PRESENTERS Hugh Lu Development Manager Wyndham City Council & Urbis Hugh has over 9 years of planning and project management experience within the public and private sectors. His roles at both Wyndham City Council and Urbis has allowed him to specialize on both the greenfield space and apartment projects within the CBD. At Dahua, Hugh manages Dahua s greenfield team in Melbourne providing expertise from acquisition, planning and delivery of all projects. From 2009-2016, Hugh has being involved in over 100 projects across Melbourne, with focusses on both greenfield and apartment developments. From these projects, Hugh has accumulated a wealth of experience managing projects from urban design and planning, marketing and civil delivery. At Dahua Melbourne, Hugh had successfully formed a development team that are in the process of delivering projects including Lochaven, Westwood, River Hill, Wollert and Point Cook. Hugh has also established excellent cooperative relations with the City of Wyndham Melton, Whittlesea and Casey as well as the State Government. Mark Whalen Senior Technical Director GHD Mark is a Master Preliminary (urban planning) and has a Bachelor of Civil Engineering. He s a Fellow Member of the Institution of Engineers, Ex-President of the Association of Land Development Engineers and recipient of the Bill Foley award for services to the industry. Mark s technical capability and comprehensive understanding of the infrastructure and land development industries offers clients the high level strategic and technical advice that is required for complex, multidisciplinary projects. Mark provides services to both the public and private sector and has successfully delivered projects for over 45 years at local, state and federal levels. Projects have encompassed a wide range of residential & industrial developments and major civil infrastructure projects. Mark has prepared reports assessing the capacity and capability of infrastructure for various Precinct Structure Plans in greenfield and brownfield areas. These assessments have enabled integrated solutions that recognise the relationship between existing and augmented servicing strategies and sustainable urban development. Mark Wizel National Director Retail Investments & Melbourne City Sales CBRE Mark has been with CBRE for over 11 years and is currently National Director of CBRE Australian Retail Investments & Melbourne City Sales. Since 2007, Mark has created a team of 60, who together are the market leaders in the sale of sub $100m assets within the retail, Melbourne CBD and Victorian Development Site sectors. Particularly prominent operating within the Asian space to buyers from mainland China, Malaysia and Singapore, Mark s passion for commercial property has seen him and his team transact in excess of $11 billion in sales since 2009. Mark remains fully committed to servicing the needs of players within the Commercial Property market and will continue to ensure his core focus is on providing a premium service aimed at enhancing the experience for his clients, future clients and his team. 9
PRESENTERS Megan Taylor Infrastructure Planning Manager Victorian Planning Authority Nerida Conisbee Chief Economist REA Group Paul Cassidy Director - Outer Melbourne Victorian Planning Authority Megan is a strategic planner with over a decade of experience in both the private and public sector. Starting her career working for a national consultancy she now works for the Victorian Planning Authority where she has prepared Precinct Structure Plans and had a lead role in the preparation of Development Contributions Plans. In recent years she has been working closely with DELWP to develop the new Infrastructure Contributions Plan system. She has also played a key role in the facilitation of the first Growth Area Infrastructure Contributions Works In Kind (GAIC WIK) agreement. She believes timely and efficient provision of infrastructure to meet growth is one of the biggest challenges in the industry today. Nerida Conisbee is the Chief Economist for REA Group and one of Australia s leading property market experts. Nerida appears every Saturday on SkyNews Real Estate program, writes a fortnightly column for The Australian and is the property commentator for Eureka Report. In addition to this, she is quoted and appears in a wide range of Australian media outlets including digital, print, television and radio. She also provides content for REA Group s websites including realestate.com.au and realcommercial.com.au. Nerida is an adviser to fintech startup, BrickX and Skelton Projects, a Melbourne based developer. She also provides updates on property market conditions to major Government bodies. Nerida has more than 20 years of property research experience throughout Asia Pacific and she has held senior positions within commercial agencies and major consulting firms during this time. Nerida holds a Bachelor of Commerce with Honours and Masters of Commerce, majoring in Econometrics, from the University of Melbourne. She has been listed in the Who s Who of Australian Women since its inaugural issue. Paul Cassidy is a Registered Landscape Architect with 20 over years of experience in private consulting, local and state governments. For the past eight years Paul has worked for the Metropolitan Planning Authority on a wide range of structure planning projects in Melbourne s west and south east and most recently was the MPA s Open Space Planning Executive. Paul will be focussing on the Casey and Cardinia growth areas and he brings strong overall strategic planning, design and place making skills to the role. 10
PRESENTERS Richard Jenkins National Research Director MaxCap Group Zhining Yang Senior Manager, International Investment Invest Victoria Simon Manley DevelopmentManager, Hengyi Richard is responsible for the development, implementation and ongoing management of MaxCap s inaugural research function. Richard has over 15 year s experience in property research and analysis within a range of property organsations including real estate agencies, independent property consultants and specialist valuation companies. Most recently, Richard lead Charter Hall s research function providing research and analysis for their Investment Relations team. Richard has a Graduate Diploma of Applied Science, Statistics and a Bachelor of Science, Mathematics, Psychology. Zhining has extensive public sector experience, both in China and Australia, in managing large scale foreign direct investment projects. He currently heads up the China desk at Invest Victoria, the Victorian Government s investment promotion agency. In this role, Zhining works with new Chinese investors to ensure maximum government support for their projects; he also manages the Victorian Government s relationship with major Chinese companies in Victoria. He works closely with the five Victorian Government Business Offices in China to position Victoria as an international investment destination for Chinese companies. Zhining holds a Master of International Business degree from the University of Melbourne, where he also completed the Asialink Leaders Program in 2007. Graduating with a Bachelor of Applied Science (Construction Management), Simon started his career working in the volume residential housing sector with a designer/builder. Moving into commercial construction, Simon managed fit out and refurbishment projects for commercial, government and private clients. In more recent years he has gained experience in a senior client side Project Management role where he was responsible for the delivery of boutique apartment projects, luxury homes and large scale digital advertising clients to name a few. Simon joined Hengyi around 2.5 years ago, his primary role at Hengyi is to manage the delivery of the Melbourne based development projects from concept through to completion. He successfully delivered Lighthouse Tower late 2017, Swanston Central tower is due for final delivery late 2019. 11
PRESENTER AND FACILITATOR Simon Lee is a highly professional and experienced developer, project manager, owner s representative, and designer of some of the largest and most complex building projects in Asia and Australia. His past experience encompasses complex infill commercial and residential developments in Hong Kong, China, Brisbane, Sydney and Melbourne. He founded STM Developments in 2015 as a trusted development partner to initiate, lead and manage design-driven real estate projects in Australia. He has hands-on practical experience in dealing with town planning, architectural design and VCAT issues on infill medium density residential development projects. Past professional experience includes Arup, Hongkong Land, HKR International, Jardine Matheson, Woolworths, Booz & Co (now Strategy&, part of the PwC network), Coffey Projects and Thinc Projects. Simon Lee UDIA Program Facilitator Managing Director STM Developments Simon is a Chartered Engineer in the UK, a corporate member of the Institution of Structural Engineers and the Hong Kong Institute of Engineers. He holds a Bachelors of Engineering (Civil) (Hons) and a Masters in Real Estate (Planning and Development), both from the University of Hong Kong. He also holds an MBA (Distinction) from the Melbourne Business School, University of Melbourne. He is also an occasional lecturer and tutor at the University of Melbourne, Faculty of Architecture, Building and Planning in the Construction and Property disciplines at both an undergraduate and postgraduate level. He is a committee member of the Financial Services Working Group at the Australia China Business Council, and a member of the Hong Kong Australia Business Association. 12
INFORMATION Program Pricing Full 2-Day Program UDIA Members $1,960 EX GST Non-Members $2,548 EX GST 1-Day Rate UDIA Members $980 EX GST Non-Members $1,274 EX GST Location Proud Program Host - Clayton Utz Level 18, 333 Collins Street, Melbourne Included Morning tea and lunch provided Registration Register your interest by contacting: Angela Gaedke General Manager, UDIA Victoria E: angela@udiavic.com.au T: (03) 9832 9600 W: www.udiavic.com.au/developinginmelbourne A: Level 4, 437 St Kilda Road, Melbourne, Victoria 3000 13
UDIA GLOBAL UNIT This program is an initiative of the UDIA Global Unit, an information hub, and global community for residential property development industry professionals operating in Victoria. The Unit connects new and existing international members with government, policy-makers, regulators and the wider urban development sector, and provides access to information, education and business building. UDIA Global Unit Key Priorities Be a new voice on local issues for an increasingly important and sophisticated group of professionals in our international marketplace Build a cohesive and inclusive global community of industry professionals Activate international relationships via government activity Provide members with international heritage, the knowledge, insight and contacts required to make educated business decisions in Victoria Connect international members with government, policy-makers, regulators and the wider urban development industry in Victoria Publicly recognise and promote the positive contributions of global industry professionals in Victoria s residential property industry Inform all levels of government on global market information and requirements, and advocate for policy reform on issues affecting international investment conditions in Victoria Lead the discussion and public agenda on all matters of international property investment in Victoria Attract global capital to Melbourne and Victoria Provide education, assistance and professional development for new and existing entrants to the Victorian urban development industry 14
ABOUT THE UDIA Company Biography The Urban Development Institute of Australia (UDIA) is a nationally recognised industry association. The UDIA Victoria Division advocates on behalf of residential property development professionals on issues that impact the delivery and cost of development, the strength of the new housing market and the future of new communities in Victoria. DANNI ADDISON Chief Executive Officer VICTORIA Focused on housing, UDIA informs and engages government and industry members, enabling better policy, better business decisions, and better community outcomes. The UDIA has been representing the industry in Victoria for more than 40 years, and has a strong and engaged membership, consisting of 50,000+ individual professionals. All our members benefit from a purposeful policy agenda, effective government advocacy activities and highly relevant business services including events, information, news, professional development and networking opportunities. A key role of the UDIA lies in educating and up-skilling members of the Victorian urban development industry. With our suite of specialised professional development courses, we provide practical and theoretical insight to give professionals the skills, confidence and know-how required to thrive in the business world. All our courses and training programs are specifically tailored to meet the needs of professionals operating within the local property industry. Therefore, participants benefit from highly relevant content, valuable networking opportunities, and lessons to last a lifetime. 15
VICTORIA URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA (VIC) udiavic.com.au +61 3 9832 9600 info@udiavic.com.au Level 4, 437 St Kilda Road, Melbourne VIC 3004