Graham Rigby

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

Tax time is here – Are you paying too much tax ?

Tax timeDo you own or have you bought an investment property in the past financial year?

Or…  have you recently refurbished, altered or extended your investment property in the past financial year?

Or…  do you own an investment property but have never claimed depreciation in the past?

Or… own any property including commercial, retail, industrial, residential, pubs, clubs, sporting – we are experts in them all.

If your answer is yes to any of these questions then you may very well be paying too much tax on your income if you don’t claim your depreciation deductions. Continue reading

Napier & Blakeley continues to expand in Western Australia

w All joined upAs we enter our 33rd year in business our long association with Western Australian property and development continues, dating back to the foundations of N&B in 1985.

Following the formal opening of a Perth office by Graham Rigby two years ago, we are now pleased to welcome Andy Brunn to the WA team.  Andy, who brings over 14 years of top tier international quantity surveying experience, moved to Perth from the United Arab Emirates 5 years ago.

During the last 5 years he has developed an excellent understanding of the local Perth market based upon his experience in a broad cross section of projects in the region.

Starting his career in the UK in 2003, Andy’s journey to date has seen him working on some of the most prestigious projects in the world whilst delivering exceptional results for his clients.

His experience crosses multiple sectors including corporate real estate, fund monitoring, commercial, retail, aviation, health, government/civil, education and hospitality, where he has been focused on delivering high quality pre and post contract services to developers, end users, financial institutions and contractors/sub-contractors on projects ranging from $500,000 to multiple $billions.

His specialties include cost planning/estimating, value management, financial reporting, payment claims, project management, claims and dispute resolution and procurement.

Andy’s results driven approach along with relationship development ensures that the best possible results are delivered to both client and project outcomes.

We continue to provide a variety of services including :

  • Asset acquisition & disposal due diligence
  • Property depreciation allowances
  • Capital expenditure planning & management
  • Fire insurance reinstatement costs
  • Project and development monitoring
  • Asset efficiency modelling & management
  • Construction cost planning & management
  • Retrofitting planning & management
  • End of lease condition and make good assessments Continue reading

Technical Due Diligence and ESG

Capture 2Napier & Blakeley’s expertise in asset and development advisory provides an integrated approach to achieve the best results for sustainable property outcomes.

Our quantity surveyors, building consultants and engineers can plan and price works associated with improving the ESG performance of a building.

Sustainable investments achieve long-term financial growth where risks and opportunities are identified and managed through environmental, social and corporate governance or ESG.

Technical Due Diligence is a perfect tool to facilitate good property transactions, to initiate asset management and   to achieve investment goals.

Continue reading …

Tax time is coming – Are you paying too much tax ?

Do you own or have you bought an investment property in the past financial year?

Or…  have you recently refurbished, altered or extended your investment property in the past financial year?Tax time

Or…  do you own an investment property but have never claimed depreciation in the past?

Or… own any property including commercial, retail, industrial, residential, pubs, clubs, sporting – we are experts in them all.

If your answer is yes to any of these questions then you may very well be paying too much tax on your income if you don’t claim your depreciation deductions.

Property tax allowances (commonly known as depreciation) provide an opportunity for owners of income producing property to reduce their taxable income, thus reducing the tax payable.   Continue reading

Budget 2017 Depreciation Deductions

House roofsIn the Federal Budget on 9th May, depreciation allowances forming part of an investors income tax deductions for second hand residential investment properties were effectively killed off.

This will apply to the purchase of any second hand properties where the contract to buy is entered into after 7.30pm on 9th May 2017.

Contracts entered into prior to this date will be grandfathered and deductions will still be able to be claimed.

What this means is not entirely clear yet.

Will this mean, for example, that items previously considered to be plant and equipment and therefore deductible under Division 40 of the ITAA could now simply form part of the building and therefore become deductible as part of the building and included under Division 43 Capital Works deductions? Continue reading

Major change to the Commercial Building Disclosure Program is fast approaching on 1st July 2017

shutterstocMelbourne - Australia. 03.08.12Following the announcement made by the Australian Government last year, the mandatory disclosure threshold on commercial office buildings will reduce from 2000 square metres to 1000 square metres starting the 1st July 2017.

From 1st July 2017, this expansion of the CBD program will require most sellers and lessors of office space of 1000 square metres or more to obtain a Building Energy Efficiency Certificate (BEEC) before the building goes on the market for sale, lease or sublease.

BEECs include a Part 1 – the building’s National Australian Built Environment Rating System (NABERS) Energy for offices star rating which is valid for 1 year, and a Part 2 – Tenancy Lighting Assessment (TLA) of the relevant area of the building which is now valid for 5 years (since September 2016).
Continue reading

Developing Property to be Operations Ready

ready to goThe origins of ‘Operations Ready’ go back in time and relate to the military being ready to engage.

Property companies are turning to military like tactics to ensure property developments achieve the best possible performance at completion – and are mission ready for operations.

Whether property companies develop their own property or portfolios, procure by contracting or through  property acquisitions, they tell us of the challenges of navigating handover – through transition from construction to ‘taking ownership’ of the property – and the ongoing management requirements. Continue reading

2016 in review and 2017 going forward

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We are already off to a busy start to 2017 with expectations of substantial Real Estate Investment activity in our region over the year ahead.

2016 saw many milestones for us and our independent and trusted advisory services, throughout which we worked on:

  • more than 600 technical due diligence reports for vendors, purchasers and financiers of property or development acquisitions. Our large national team allowing us to deliver more than 12 due diligence projects every week.
  • a significantly increased number of debt rollover re-financing due diligence projects for financiers of existing assets. Continue reading

Season’s Greetings from Napier & Blakeley

santa-present-beach-reduced2016 was quite an incredible year with significant global change and with it, new opportunities opening up for us here 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.

In 2016, we managed client projects across all states and territories of Australia and also in Singapore, Hong Kong, Indonesia, Sri Lanka, Fiji, The Maldives, Guam and New Zealand.

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 2017 for all.

Our offices will close at 5pm on Friday 23rd December and reopen on Monday 9th January.

Should you have any urgent business during that time, please contact our Managing Director, Alastair Walker on 0419 503 289 or at awalker@napierblakeley.com. Continue reading