Napier & Blakeley

Season’s Greetings from Napier & Blakeley

Santa Hat in wind - reduced2017 was another significant year in property, the highlight of which was pricing within the commercial office sector which produced some record yields in Australia.

It was also another busy year for Napier & Blakeley, with our independent trusted advisory services again being in great demand from both local and offshore clients investing in Australia and SE Asia across the property, development and sustainability industries.

In 2017, we again managed client projects across all states and territories of Australia and also an increasing number of projects across the Asia Pacific region.

We would like to say a big thank you to all of our clients and send all of you and your families our Season’s Greetings.  We look forward to working with you again and to a successful and prosperous 2018 for all.

Our offices will close at 5pm on Friday 22nd December and reopen on Monday 8th January.

Should you have any urgent business during that time, please contact Peter Frith on +61 418 733 987 or on pfrith@napierblakeley.com. Continue reading

2017 / 2018 Napier & Blakeley Construction Costs Datacards

Graphics 2Napier & Blakeley have provided cost advice to all sectors of the construction and development industries for over 32 years and are pleased to provide our updated Construction Costs Datacards:

Sydney

Melbourne

South East Queensland

Adelaide

Perth

Our Quantity Surveying team is able to provide the following services for your projects:

  • Cost Planning, Cost Control & Value Management
  • Reporting to the Project Financier (we are accepted by all major lending institutions)
  • Bills of Quantities and Contract Administration
  • Capital Expenditure Forecasting for Property Owners
  • Maintenance Reserve and Capital Replacement Funds Forecasting
  • Insurance Replacement Cost Assessments
  • Tax Depreciation

Contact us for a datacard hard copy or for any other Napier & Blakeley service.

Do not hesitate to call us to discuss your project.

For further information on our Development Advisory & Quantity Surveying services please contact our team here:

Craig Smith Backgroundv2 Peter Hammond Backgroundv3
MELBOURNE
Craig Smith
o.  03 9915 6300
m. 0407 371 664
e.  csmith@napierblakeley.com
SYDNEY
Peter Hammond
o.  02 9299 1899
m. 0419 980 901
e.  phammond@napierblakeley.com
Adam Greene Background  Paul Cosker Background
BRISBANE
Adam Greene
o.  07 3221 8255
m. 0409 724 395
e.  agreene@napierblakeley.com
BRISBANE
Paul Cosker

o.  07 3221 8255
m. 0434 400 107
e.  pcosker@napierblakeley.com
Andy Brunn BG3
PERTH
Andy Brunn
o.  08 9489 4895
m. 0418 337 225
e.  abrunn@napierblakeley.com

For 32 years and counting Napier & Blakeley have been providing the following services to the property industry:

  • Property Acquisition & Disposal Technical Due Diligence
  • Property Development Due Diligence
  • Quantity Surveying
  • Capital Expenditure Forecasting
  • Make Good Reporting
  • Energy Management
  • Development Monitoring
  • Property Tax Depreciation

Please contact any of the people below for more information or assistance:

Alastair Walker Backgroundv2-edited Craig Smith Backgroundv2
SYDNEY
Alastair Walker
Managing Director

o.  02 9299 1899
m. 0419 503 289
e.  awalker@napierblakeley.com
MELBOURNE
Craig Smith
Director

o.  03 9915 6300
m. 0407 371 664
e.  csmith@napierblakeley.com
Paul Mazoletti Backgroundv2 Peter_Mitchell_Background
BRISBANE
Paul Mazoletti
National Director

o.  07 3221 8255
m. 0408 749 202
e.  pmazoletti@napierblakeley.com
SINGAPORE
Peter Mitchell
Chairman
o.  +65 6550 9642
m. +65 9670 9435
e.  pmitchell@napierblakeley.com

 

TrustCapital Australia put their trust in Napier & Blakeley

2 properties joinedIn June 2017, TrustCapital Australia (TCA) engaged Napier & Blakeley to undertake Vendor’s Technical and Environmental Due Diligence relating to their commercial office portfolio.

Within two weeks of instruction we had reviewed all the available documentation, inspected all the properties and provided written feedback on our findings.

We were able to achieve this using our national team of building consultants, services engineers and cost consultants, in conjunction with external environmental consultants from our approved consultants panel.

This early stage reporting provided TCA, and their Facilities Managers, the opportunity to act upon minor items of deferred maintenance and short term future repairs and maintenance needs, to help prepare the properties for sale.

While the repairs were underway Napier & Blakeley completed the final  written reports.

Our reports covered the technical and environmental aspects of the property and risk assessment was facilitated by capital and maintenance forecasts over a ten year period.

Items in our forecasts are categorised by the detailed scope of the instruction along with a probability rating of the likelihood of such events occurring. Continue reading

Govt curbs property tax deductions

Property TaxTHE federal parliament has passed legislation to limit tax and depreciation deductions claimed by residential property investors along with a vacancy tax for foreign owners who leave homes unoccupied.

Treasurer Scott Morrison and Assistant Minister Michael Sukkar said the reforms will help address housing affordability and assist private renters.

The Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 will disallow certain deductions relating to residential investment properties.

Morrison said the changes disallow claims for travel expense deductions and limit plant and equipment depreciation deductions to assets not previously used.

Depreciation will only apply where the depreciating asset was acquired new – this reform is expected to raise $260 million over forward estimates.

The Treasurer said limiting plant and equipment depreciation deductions will remove the existing opportunities for items to be depreciated by multiple owners in excess of their actual value.

For second hand residential properties purchased after May 9, investor will only be able to claim depreciation for plant and equipment assets where the depreciating asset was acquired new for that purpose. Continue reading

Property Council of Australia’s Capital Markets Seminar

IMG_6277Napier & Blakeley are pleased to sponsor the Property Council of Australia’s Capital Markets Seminar’s and the one on Tuesday had the greatest turnout of over 400 people attending.

Chris Freeman, National Head of Capital Strategy of Savills spoke on recent trends in the capital markets space, offering a unique perspective; benefiting from his experience across all sectors, both domestic and international.

Then a panel with industry leaders, provided ‘an investor’s perspective’ on the opportunities and challenges facing the real estate capital markets, including:

  • Diverse perspectives across key aspects of the real estate sector (commercial, industrial and logistics and residential);
  • A look forward to expectations for 2018;
  • and Key insights into how equity and debt capital flows are changing.

All who attended agreed it was one of the most informative talks yet.

IMG_6399IMG_6301

 

Napier & Blakeley partakes in Abseil for Youth

1NSW Building Consulting Manager, Simon Gould was pleased to be a part of Investa’s recent Abseil for Youth event in the Sydney CBD.

The event which involves a 135 metre abseil decent off the 33 storey 1 Market Street building was held in support of the Sir David Martin Foundation which raises funds to help young people in crisis. Simon was part of the Core Engineering team which has so far raised over $2,200 for the charity. Fortunately Simon was able to make it back down to the ground safely, although not without a few jittery moments when going over the edge! Continue reading

Building Developers and Owners are Being Sandwiched

3 joined up claddingCosts, Risks and Returns are being impacted by uncertainty around the future acceptability of Aluminium Composite Cladding Panels (ACP).

Since the Lacrosse Apartment building fire in 2014 and the tragic Grenfell Tower fire of 2017, there are still more questions relating to the use of flammable ACP than answers.

Industry, governing bodies, financiers, building owners and occupiers, are yet to really understand their options.

  • Will the import and use of flammable ACP in Australia be banned? – one of the suggestions made by the Senate’s interim enquiry report.
  • Will the National Construction Code and Building Regulations be revised to require increased fire safety around the use of ACP? – as suggested by the current draft amendment out for public comment.
  • Will the ‘grey area’ of whether the ACP is an attachment or part of an external wall be confirmed?
  • Will Government required audits lead to large scale removal of flammable ACP and replacement with compliant materials?
  • Will insurers carve out flammable ACP from insurance policies?  Will premiums increase?
  • Is the reputation of ACP tarnished so much so that developers and architects turn their back on the material – as recently reported by Uniting Communities with their U City development in Adelaide? Continue reading

Quantity Surveyor – Melbourne

We're hiring 2Napier & Blakeley are internationally recognised as a leader in the provision of Property Depreciation and were the first provider of depreciation schedules and advice in the Australian market in 1985 and remains the leader in this field today.

Our Melbourne CBD office is currently seeking a Quantity Surveyor with 2 to 3 years of experience to join their Tax Depreciation team immediately.

www.napierblakeley.com

Property Depreciation services also include:

  • Property Inspections
  • Completing of depreciation schedules for commercial and residential clients
  • Undertaking reinstatement cost assessments
  • General adhoc duties as required Continue reading

Tax Q&A: Your Questions on Depreciation Returns, Answered

Q:  I am looking at buying my first investment property this year, and a friend has advised me to purchase a unit instead of a house for better depreciation benefits. I don’t quite understand how this works: houses are bigger, therefore shouldn’t the depreciation returns be higher? I would love some advice before I invest, as I’m aiming to keep my cash flow position as strong as possible (ideally I want a neutral or positively geared investment).

Thanks, Dale

A:  Residential investment properties are usually classified into four main types of building: residential houses, townhouses, apartments or units (low-rise and/or high-rise). All these do allow you to obtain different types of capital allowance deductions.

If you are claiming under Division 40 on the above brand-new properties, you are generally entitled to claim the following percentages of the construction costs as a capital allowance:

a. Residential houses: 5–10%
b. Townhouses: 5–15%
c. Units/apartments, low-rise: 5–15%
d. Units/apartments, high-rise: 10–20% Continue reading

Napier & Blakeley bolsters its Transaction Advisory team

Nicolas Paul

NAPIER & Blakeley has strengthened its transaction advisory team with two appointments.

Paul Pegram has been appointed senior building consultant and Nicolas Mules as building consultant.

Both bring international experience and have relocated from New Zealand, they will be based in Napier & Blakeley’s Sydney office.

Pegram qualified as an RICS Chartered Building Surveyor in 2010 and is experienced in technical due diligence, defects analysis, capital expenditure planning and project management.

Mules has a background in regulatory compliance and building consulting. He is currently studying at Masters level and is also working towards full RICS membership.

“Paul and Nic are both originally from the UK and have international expertise providing asset advisory services to property and development clients,” national director Rob Howells said.

“They both strengthen our capability to serve clients locally as well as clients with trans-tasman interests and property portfolios,” Howells said.

The two additions follow the appointment of Andy Brunn to Napier & Blakeley’s Western Australian team last month.

Brunn brings over 14 years of top tier international quantity surveying experience. He moved to Perth from the United Arab Emirates five years ago.

Australia Property Journal
1 August 2017