Coopers Plains Suburban Renewal
RANBURY DELIVERS POSITIVE RETURN ON INVESTMENT FOR BRIC
In late 2012, Ranbury was appointed by Bric Housing Company, a not-for-profit housing services provider, to investigate the potential redevelopment and sale of a property it owned in Everton Park on Brisbane’s north-side.
(Images kindly sourced from Defence Housing Australia)
After initial investigations and feasibility modelling, Ranbury (on behalf of Bric) negotiated the purchase of an adjoining strip of Brisbane City Council-owned land to improve access and amenity for a new development.
In collaboration with our partner, Ranbury Management Group, the redevelopment of the Everton Park project was completed in July 2016. The Board was pleased to note that this significant capital project was achieved on time and on budget with all 10 units pre-sold to the Defence Housing Authority. We extend our grateful thanks to Ranbury Management Group for their continued support of Bric housing company.
Bric Housing CompanyEddie Chung, Chairman
Ranbury then managed the design of a new residential apartment complex, and procured a Development Approval through Brisbane City Council. Concurrently, Ranbury identified Defence Housing Australia (DHA) as a possible purchaser and negotiated the sale of the entire complex. Ranbury, through a competitive tender process, secured a fixed price contract with a leading Queensland builder, and then managed the construction and sale processes to successful completion with DHA.
By optimising the site, the development outcome has seen Bric achieve a positive return on its investment.
De-risked the project through a single purchaser
Delivery of a product that met DHA's requirements
Delivery achieved within the development feasibility
