Napier & Blakeley Articles and News » Ian Gardner

N & B People News

Napier & Blakeley — Tue, 18 Oct 2022 02:05:47 +0000

Strategic Planning + Increased Workload = New People at N & B

and we are happy to introduce you to them here…

…we are also delighted to announce to you the following promotions, and we congratulate them and thank our clients for their continued support.

If you’re interested in a career or a new challenge assisting us in providing services to our significant and varied local and international client list, N & B are always looking for new people contact us if you’re interested.

MELBOURNE
Rob Howells, Managing Director | 0437 649 082 | rhowells@napierblakeley.com
Peter Frith, Director | 0437 649 082 | pfrith@napierblakeley.com
Craig Smith, Director | 0407 371 664 | csmith@napierblakeley.com
Ian Gardner, Director | 0488 225 569 | igardner@napierblakeley.com
John Atkins, Director | 0456 644 052 | jatkins@napierblakeley.com

SYDNEY
Alastair Walker, Director | 0419 503 289 | awalker@napierblakeley.com
Peter Hammond, Director | 0419 980 901 | phammond@napierblakeley.com
Michael Ross, National Head of Tax | 0403 841 175 | mross@napierblakeley.com
Stephen Cooke, Associate Director | 0409 228 552 | scooke@napierblakeley.com

BRISBANE
Paul Cosker, Director | 0434 400 107 | pcosker @napierblakeley.com
Adam Greene, Associate Director | 0409 724 395 | agreene@napierblakeley.com
Gavin Peach, Associate Director | 0412 225 781 | gpeach@napierblakeley.com
KY Pih, Associate | 0408 933 660 | kpih@napierblakeley.com

PERTH
Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com

ADELAIDE
Sam Grindley, Senior Associate | 0460 032 142 | sgrindley@napierblakeley.com

Hotel sector is on the way to recovery – APJ

Napier & Blakeley — Wed, 28 Sep 2022 02:34:34 +0000

AS COVID lockdown concerns amongst travellers ease, the hotel sector is well on the way to recovery, outstripping projections.

According to Napier & Blakeley’s director Ian Gardner, who was speaking at an ESG panel discussion at the HICAP ANZ conference, the past couple of years has forced the sector to innovate and act quickly, diversifying offerings and income streams associated with hotel properties.

Although the conference noted that occupancy across Asia Pacific varies due to slow changes to government setting in some countries, elsewhere occupancy continues on its path back to 2019 levels with all major markets above 83% of 2019 levels, including North America, Central America, South America, Australia, Europe, Africa and Middle East.

At the same time, more than 50% of global markets were at peak Revenue per available room (RevPAR) compared to a 2019 baseline, and the higher average daily rate (ADR) is offsetting the reduced occupancy.

Gardner said industry indications are that hotel investment is also strong but margins are currently compressed.

Recent data from MSCI Real Assets Australian Capital Trends reveal hotel transactions are up by 84%.

“The fastest RBA tightening cycle is anticipated to control inflation with a 2–3-year cycle and then we’ll see an easing of rates,”

Meanwhile Gardner said the hotel recovery to 2019 levels is projected to occur in mid to late 2023.

“Winter demand in Australia is 90% of 2019-pre Covid rates. Covid concerns have dropped to 4th on the list of travel barriers, with inflationary costs are taking over as the leading concern.

“Brisbane leads the Australian recovery, Queenstown is leading New Zealand,” he added.

Despite the positive recovery, there was consensus that when it comes to ESG, the hotel sector is lagging behind other markets such as office, retail and industrial.

The panel’s views are supported by a recent CBRE report into the hotel sector’s ESG initiatives.

According to the report, the sector is in the early stages of achieving meaningful changes to environmental practices but rising energy costs, which have increased electricity costs by 10% since May 2021, are likely to accelerate the industry’s focus on sustainability, particularly given the shift in traveller preferences toward more sustainable tourism and green accommodations and the growing demand for disclosure around climate risk.

According to the Sustainable Hospitality Alliance (SHA), to keep pace with the targets outlined in the Paris Agreement, the global hotel industry needs to reduce carbon emissions per room per year by 66% by 2030 and 90% by 2050.

Gardner said whilst the sector is a little behind, there are also plenty of leaders in the hotel sector but accelerated take-up of the ESG challenge is needed more broadly.

Companies like Accor, Hilton, Hyatt, IHG and Host Hotels have set climate-based targets. In many cases, they have adopted near-term targets on the path to achieving net zero. For example, Hilton pledged to reduce scope 1 and 2 emissions by 61% by 2030. Marriott is committed to setting SBTi targets under the 1.5-degree scenario and targets a 30% reduction in carbon intensity by 2030.

Meanwhile CBRE found it is guests and travellers who are leading the way, choosing to patronise socially responsible hotel businesses.

The search for environmentally friendly accommodations is most common among luxury hotels guests who often seek vacations at resorts in environmentally sensitive areas like beaches and mountains. According to Virtuoso, a network of luxury travel agencies, in April 2021, 82% of travellers said the pandemic has made them want to travel more responsibly in the future. Half said it was important to choose a company that had a strong sustainability policy. While there is some evidence that guests are willing to pay a premium for environmentally sustainable accommodations, because of inflation and uncertainty in the market, the premium they are willing to pay remains unclear.

Written by Nelson Nap
Australian Property Journal
28 September 2022

Hotel Sector is on the way to recovery

Napier & Blakeley — Mon, 19 Sep 2022 11:23:17 +0000

It was great to be a part of HICAP ANZ and hear that the Hotel sector is well on the way to recovery, outstripping projections. The past couple of years has forced the sector to innovate and act quickly, diversifying offerings and income streams associated with Hotel properties.

I was fortunate to be part of the ESG panel discussion leading into the conference, which was organised by Ashurst Lawyers. The other panellists were Gus Moors (head of hotels at Colliers), Steve Whittington, (partner at Ashurst Lawyers who specialises in tax) and Campbell Johnston (partner at Ashurst Lawyers who advises on financing arrangements including hotel financing). We discussed the status of ESG, future impacts, opportunities, finance and tax implications of investing in ESG in the sector.

The consensus seemed to be that the sector as a whole was a little behind, there are also plenty of leaders in the Hotel sector, but accelerated take-up of the ESG challenge is needed more broadly in the sector.

Some of our highlights from the conference :

Occupancy continues on its path back to 2019 levels with all major markets above 83% of 2019 levels (North America, Central America, South America, Australia, Europe, Africa and Middle East).
Recovery to 2019 levels projected to occur in mid to late 2023.
Rate growth has been strong.
More than 50% of global markets were at peak RevPAR (Revenue per available room) compared to a 2019 baseline.
Occupancy across APAC varies due to slow changes to Government setting in some countries.
Higher average daily rate (ADR) is offsetting the reduced occupancy.
Labour shortages and inflation are driving a higher ADR.
ADR growth is strongest in the regions.
Winter demand in Australia is 90% of 2019-pre Covid rates.
Covid concerns have dropped to 4^th on the list of travel barriers, inflationary costs are taking over.
Brisbane leads the Australian recovery, Queenstown leads NZ.
New supply projections have fallen away by approx. 20%.
Hotel investment is strong but margins are currently compressed.

The fastest RBA tightening cycle is anticipated to control inflation with a 2-3 year cycle and then we’ll see an easing of rates.

Please contact Ian for any assistance or advice relating to Sustainability, Climate & ESG, or the rest of our team listed below regarding our other services.

PERTH
Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com

ADELAIDE
Sam Grindley, Senior Associate | 0460 032 142 | sgrindley@napierblakeley.com

Napier & Blakeley’s new Director – Ian Gardner

Napier & Blakeley — Thu, 02 Jun 2022 02:08:09 +0000

We take great pleasure in announcing that Ian Gardner will become a Director of Napier & Blakeley, effective from 1st July 2022.

Ian has been with us since 2018 and is highly regarded by clients and colleagues alike.

To meet the growing demand for the analysis and reporting on building performance, carbon reduction, climate risk and building resiliency, Ian will head up a new business unit focusing on Sustainability, Climate and ESG.

Ian has developed a market leading profile in this area within technical due diligence and asset management, and has become the first port of call for a range of both national and international property investors, owners and managers.

Ian has also been instrumental in developing our digital building consultancy and asset database solutions, integrating advisory with quantity surveying and tax depreciation.

This appointment aligns directly with our strategic plan, and to inform B2B property decisions through the lens of Cost, Risk & Return – helping our clients act with confidence, improving the quality and resilience of the property sector and the built environment.

Please contact Ian for any assistance or advice relating to Sustainability, Climate & ESG.

SYDNEY
Alastair Walker, Director | 0419 503 289 | awalker@napierblakeley.com
Peter Hammond, Director | 0419 980 901 | phammond@napierblakeley.com
Peter Osborn, Director | 0439 765 571 | posborn@napierblakeley.com
Michael Ross, National Head of Tax | 0403 841 175 | mross@napierblakeley.com
Stephen Cooke, Associate Director | 0409 228 552 | scooke@napierblakeley.com

PERTH
Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com

ADELAIDE
Sam Grindley, Associate | 0460 032 142 | sgrindley@napierblakeley.com

Property Sector Spotlight : Industrial & Logistics

Napier & Blakeley — Wed, 05 May 2021 11:08:07 +0000

The industrial & logistics property sector became the hot favourite in 2020, outperforming all other property types.

The rise of e-commerce has driven major brands to expand their footprint and therefore leasing activity. Vacancy rates are at all-time lows and major development work is underway to meet demand. Several AREITS are continuing their growth in this asset class and Transaction volumes were up to $3.5 billion in 2020, from $2.3 billion in 2019 – as recently reported.

So, what makes the sector tick? Here are some attributes and advantages of the sector from our perspective.

Construction and development advantages

Over time construction costs in the sector have been less susceptible to escalation than other asset types. This stability provides greater confidence to Developers when planning their next project.
The speed of construction enables Developers to receive a return on their investment earlier than most other forms of development.
Tried and tested construction techniques in the sector generally lead to less variations than other forms of construction.
There are also tax depreciation benefits available to developers / investors upon project completion.

Investment advantages

Typically, industrial & logistics properties are leased to a single tenant who has responsibility for repairs, maintenance and lease expiry make good obligations.
Relatively low levels of capital expenditure are required during the lease term.
There are good opportunities for environmental and social governance (ESG) initiatives. Both new developments and building improvement projects are taking up energy efficient strategies such as photovoltaic solar systems, rainwater harvesting, zero ozone depleting refrigerant choices, high efficiency air conditioning, time and presence controls and metering.

The following projects represent some of our recent capabilities and expertise within the sector, where we have managed Cost, Risk & Return.

	Target Distribution Centre, Foundation Road Truganina VIC Independent Certifier, Development Monitoring & Quantity Surveying – 62,000m2 Client: ESR/CIP & Charter Hall		Toll Mars Distribution Centre, Midwest Logistics Hub, Truganina VIC Independent Certifier, Development Monitoring, Quantity Surveying & Tax Depreciation Assessment – 45,000m2 Client: Charter Hall

	Uniqlo Distribution Warehouse, Midwest Logistics Hub Truganina VIC Independent Certifier, Development Monitoring, Quantity Surveying & Tax Depreciation Assessment – 35,000m2 Client: Charter Hall		Mainfreight Epping, 107 Gateway Boulevard, Epping VIC Quantity Surveying – 45,000m2 Client: Mainfreight

	Drystone Industrial, Estate Truganina VIC Technical Due Diligence – 44,000m2 Client: GPT		Telstra Data Centre, Clayton VIC Acquisition/Divestment Technical Due Diligence - 3.2 hectare site Client: Telstra / Centuria

	Aldi Distribution Centre Portfolio Acquisition/Divestment Technical Due Diligence – 370,000m2 Client: Aldi / Charter Hall Allianz		99 Sandstone Place, Parkinson QLD Technical Due Diligence – 54,000m2 Client: DWS Group GmbH & Co

	338 Bradman Street, Acacia Ridge QLD Technical Due Diligence – 55,000m2 Client: Mapletree		Lot 30, 247-263 Greens Rd Dandenong South VIC Quantity Surveying & Tax Depreciation Assessment – 16,000m2 Client: Logis Property Investments

	Ceva Logistics, Truganina VIC Independent Certifier, Development Monitoring, Quantity Surveying – 36,000m2 Client: Frasers Property		Salta Properties Portfolio, Dandenong South VIC Quantity Surveying & Tax Depreciation Assessments – 4 industrial warehouses 25,000m2 Client: Salta Properties
	.
	7 Dursley Road, Yenora NSW Development Monitoring, Quantity Surveying and Tax Depreciation Assessments - 65,000m2 Client: Fife Capital		9-13 Cool Street, Forestville NSW Development Monitoring and Quantity Surveying - 9,000m2 Client: Trumen Corp Pty Ltd

	8 Narabang Way, Belrose NSW Development Monitoring and Quantity Surveying - 4,000m2 Client: Life Property Group		50 Elwell Close, Beresfield NSW Development Monitoring, Quantity Surveying and Tax Depreciation Assessments - 8,000m2 Client: Hobson Holdings Pty Ltd

Please do not hesitate to call any of the people below to discuss your requirements:

MELBOURNE
Rob Howells, Managing Director | 0437 649 082 | rhowells@napierblakeley.com
Craig Smith, Director | 0407 371 664 | csmith@napierblakeley.com
John Mathew, Director | 0414 559 326 | jmathew@napierblakeley.com
Ian Gardner, Associate Director | 0488 225 569 | igardner@napierblakeley.com

SYDNEY
Alastair Walker, Director | 0419 503 289 | awalker@napierblakeley.com
Peter Hammond, Director | 0419 980 901 | phammond@napierblakeley.com
Peter Osborn, Director | 0439 765 571 | posborn@napierblakeley.com
Stephen Cooke, Associate Director | 0409 228 552 | scooke@napierblakeley.com

BRISBANE
Adam Greene, Associate Director | 0409 724 395 | agreene@napierblakeley.com
Paul Cosker, Associate Director | 0434 400 107 | pcosker @napierblakeley.com
Gavin Peach, Associate Director | 0412 225 781 | gpeach@napierblakeley.com
KY Pih, Associate | 0408 933 660 | kpih@napierblakeley.com

PERTH
Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com
Jorden Morris, Quantity Surveyor | 0457 001 545 | jmorris@napierblakeley.com

Did you know… about Lifecycle Expenditure Forecasts

Napier & Blakeley — Mon, 28 Sep 2020 00:54:38 +0000

Did you know… that industry asset management guidelines recommend the preparation of, and ongoing updates to Lifecycle Expenditure Forecasts as part of best practice solutions?

As an example, the Property Council of Australia Guide to Office Building Quality recommends office buildings have Lifecycle Expenditure Forecasts in place as follows:

Building Grade	Forecast Required
Existing Buildings:
Premium	10 years or more
A Grade	5 years or more
New Buildings:
Premium	15 years or more
A Grade	10 years or more
B Grade	5 years or more

Over our 35 years in service we have developed extensive experience in the preparation of independent Lifecycle Capital Expenditure Forecasts. We have also amassed technical property and construction cost data which can be used for quick and cost-effective benchmarking. As part of our service provision we have developed in-house online solutions that generate Lifecycle Capital Expenditure Forecasts from new or existing Asset Registers.

The solution also provides online storage for key documentation such as plans, specifications, operation/maintenance manuals and warranties related to the individual assets or building. All report data is available for consumption on a client-dedicated website.

If you would like to talk to us further about Lifecycle assessments, or if you have any questions on this topic, please contact us now:

MELBOURNE
Rob Howells , National Director | 0437 649 082 | rhowells @napierblakeley.com
Ian Gardner , Associate Director | 0488 225 569 | igardner@napierblakeley.com
Coco Williams, Senior Building Consultant | 0418 348 712 | cowilliams@napierblakeley.com

SYDNEY
Stephen Cooke, Associate Director | 0409 228 552 | scooke@napierblakeley.com

BRISBANE
Gavin Peach, Associate Director | 0412 225 781 | gpeach@napierblakeley.com

PERTH
Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com

Did you know… that half of Make Good obligations relate to building services

Napier & Blakeley — Mon, 24 Aug 2020 23:29:43 +0000

Did you know… through our extensive experience assessing Make Good obligations we have found that almost 50% of the cost of works for commercial offices, relates to building services.

And through our further success in negotiating Make Good settlements we have found that most of the errors we see in Make Good assessments by the opposing party relate to the building services.

Napier & Blakeley directly employ building services engineers as part of our Make Good assessment team to provide accurate and defensible cost estimates.

If you would like to talk to us further about Make Good assessments, or if you have any questions on this topic, please contact:



NATIONAL Rob Howells National Director o. 03 9915 6300 m. 0437 649 082 e. rhowells@napierblakeley.com	BRISBANE Gavin Peach Associate Director o. 07 3221 8255 m. 0412 225 781 e. gpeach@napierblakeley.com
.

MELBOURNE Ian Gardner Associate Director o. 03 9915 6300 m. 0488 225 569 e. igardner @napierblakeley.com	SYDNEY Stephen Cooke Associate Director o. 02 9299 1899 m. 0409 228 552 e. scooke @napierblakeley.com
.

MELBOURNE Coco Williams Senior Building Consultant o. 03 9915 6300 m. 0418 348 712 e. cowilliams@napierblakeley.com	PERTH Graham Rigby Associate Director o. 08 6244 1877 m. 0419 847 998 e. grigby@napierblakeley.com
.

Did you know… 5G is coming… is your building ready?

Napier & Blakeley — Mon, 10 Aug 2020 23:50:32 +0000

Did you know that your building contains a very significant amount of IT and communications infrastructure that needs frequent updating and renewal?

And did you know that there are significant cost implications for building owners associated with the introduction of the 5G network?

While the capital cost of existing infrastructure has typically been borne by the telecommunications provider, capital works required to make a building “5G ready” will rest with the building owner, who is frequently not aware of the requirements and has not adequately budgeted for them.

To assist in managing and budgeting for these imminent and ultimately unavoidable capital upgrades, we can provide:

A risk awareness review on IT systems, cyber security etc for BMS, Fire Detection, Access Control, CCTV, Wi-Fi services, Energy metering;
A review of existing mobile telecommunications installations to determine required upgrades to enable 5G readiness;
Advice relating to removal of redundant infrastructure (and where possible provide advice as to who is responsible for this work);
A lifecycle review to remove, replace and upgrade infrastructure, or alternatively prepare an upgrade pathway for upgrade works over a 3 to 5 year period;
Preparation of a tax depreciation assessment for the upgrade works.

We have in house engineers who have significant experience in this field. If you would like further information, or would like us to assess your properties contact Ian Gardner below or anyone else in our Transaction & Asset Advisory team:


NATIONAL Rob Howells National Director o. 03 9915 6300 m. 0437 649 082 e. rhowells@napierblakeley.com	MELBOURNE Ian Gardner Associate Director o. 03 9915 6300 m. 0488 225 569 e. igardner@napierblakeley.com
.

BRISBANE Gavin Peach Associate Director o. 07 3221 8255 m. 0412 225 781 e. gpeach@napierblakeley.com	SYDNEY Stephen Cooke Associate Director o. 02 9299 1899 m. 0409 228 552 e. scooke@napierblakeley.com


MELBOURNE Coco Williams Senior Building Consultant o. 03 9915 6300 m. 0418 348 712 e. cowilliams@napierblakeley.com	PERTH Graham Rigby Associate Director o. 03 9915 6300 m. 0419 847 998 e. grigby@napierblakeley.com .

Did you know… the rules about your regulatory documentation?

Napier & Blakeley — Mon, 27 Jul 2020 01:26:19 +0000

That building owners are required to hold copies of all regulatory documentation?

And did you know that building owners in Victoria must provide regulatory compliance documentation histories for buildings to Building Surveyors within 7 days of request, but these documents have often never been sighted (or have been lost) by building owners and / or their Agents?

While this is a common issue, failure to hold regulatory documentation and poor record keeping typically results in significant non-compliances associated with both ongoing regulatory maintenance and ‘Management in Use’ requirements. The longer these non-compliances are left unattended, the more expensive they are to fix, and the further non-compliant they become.

If non compliance is linked to injury, then the building owner is seriously exposed to potential criminal investigation.

Now is a good time to catch up on this housekeeping.

To assist in addressing this issue, we provide State / Territory based:

Desk top reviews of available regulatory documentation;

Statutory documentation searches through relevant authorities;

Gap analyses of available documentation and current maintenance and management regimes, together with recommended assessments and / or upgrades with the view to meeting compliance requirements;

A database document management solution, purpose built for building owners and managers, with simple operational and search functions.

If you would like further information, or would like us to assess your properties, please contact us now:


NATIONAL Rob Howells National Director o. 03 9915 6300 m. 0437 649 082 e. rhowells@napierblakeley.com	BRISBANE Gavin Peach Associate Director o. 07 3221 8255 m. 0412 225 781 e. gpeach@napierblakeley.com


MELBOURNE Ian Gardner Associate Director o. 03 9915 6300 m. 0488 225 569 e. igardner@napierblakeley.com	SYDNEY Stephen Cooke Associate Director o. 02 9299 1899 m. 0409 228 552 e. scooke@napierblakeley.com
.

MELBOURNE Coco Williams Senior Building Consultant o. 03 9915 6300 m. 0418 348 712 e. cowilliams@napierblakeley.com	PERTH Graham Rigby Associate Director o. 03 9915 6300 m. 0419 847 998 e. grigby@napierblakeley.com

Did you know… your tenants’ fitout could force your outfit backwards?

Napier & Blakeley — Mon, 06 Jul 2020 09:46:55 +0000

Did you know that tenant fitouts and other work can significantly impact on the level of performance and compliance of your building?

Tenancy Fitout Guidelines can be used to streamline and control fitout works ensuring clarity of requirements and expectations for incoming and exiting tenants.

All too often we carry out assessments on properties for owners, or prospective owners, and discover that tenants have installed new or additional fitout works, with limited to no oversight by the building owner and / or their agent.

Examples of recurring problems we find with tenant fitouts:

They are carried out with assistance of lease incentives; but works are incomplete or defective;
They compromise the capacity of base building services to provide adequate conditions, serviceability and compliance;
They compromise adjacent tenancies where services are shared;
They compromise essential services (fire protection, smoke exhaust, evacuation systems, fire ratings and penetrations);
They cause changes to essential services that are undocumented, are not commissioned correctly and do not provide the required baseline information for ongoing regulatory maintenance;
They cause unapproved removal of base building assets;
They are incorrectly certified, and / or have incomplete permits issued. This is a particularly prevalent currently in Victoria.

In instances where fitout works are carried out with required permits, there are still many issues that can arise, that could be avoided through the provision and policing of a detailed Fitout Guideline.

We have staff who are experienced in preparing Fitout Guidelines, and associated management and compliance reviews.

If you require further information, or would like assistance in preparing a Fitout Guideline, please contact us now:


NATIONAL Rob Howells National Director o. 03 9915 6300 m. 0437 649 082 e. rhowells@napierblakeley.com	BRISBANE Gavin Peach Associate Director o. 07 3221 8255 m. 0412 225 781 e. gpeach@napierblakeley.com


MELBOURNE Ian Gardner Associate Director o. 03 9915 6300 m. 0488 225 569 e. igardner @napierblakeley.com	SYDNEY Stephen Cooke Associate Director o. 02 9299 1899 m. 0409 228 552 e. scooke @napierblakeley.com


MELBOURNE Coco Williams Senior Building Consultant o. 03 9915 6300 m. 0418 348 712 e. cowilliams@napierblakeley.com	PERTH Graham Rigby Associate Director o. 08 6244 1877 m. 0419 847 998 e. grigby@napierblakeley.com