Barings Real Estate Australia commissioned us to assess the opportunity for visitor accommodation within the redevelopment of the Compass Centre in Bankstown CBD.
Our approach: The analysis considered Bankstown’s economic transformation, emerging health, education and transport infrastructure, existing accommodation supply and demand currently displaced to surrounding markets. Alternative accommodation and operating models were tested alongside the project’s approved building envelope and design requirements.
Services provided: Hotel market demand and supply analysis; product and positioning advice; target market assessment; facilities and design review; operating model and brand strategy; conference and events advice; and five-year financial forecasting. Subsequently we delivered an Operational Management Plan as part of the Development Application. Post-DA approval, we undertook an operator selection process and the negotiation on a hotel management agreement.
Bankstown CBD, Greater Sydney.
We developed a hotel-led accommodation strategy that integrated shorter and longer-stay demand with food, beverage and conference facilities. The work also provided the commercial assumptions and operating framework required to support design refinement and future operator engagement.
What was originally intended as a discrete research assignment developed into a request to assist Kalis with numerous elements of the project including the help with the valuations process, seeking debt funding, support with various approvals and acting as the Kalis Group owner’s representative. The outcome is a celebration of the heritage value of the site and is a vision realised for the owners, who sought to connect guests and visitors to the natural environment and cultural values of Tasmania.
