Cordell Construction Monthly - February 2021 - Pacifecon
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Cordell Construction Monthly February 2021
The data behind the Construction Monthly Report is now available for
purchase. Please contact your Account Manager for more details.
Pipeline - Australia
Over the month of January, 1,429 new construction projects were identified by Cordell. Of those projects, 29 per cent were
in New South Wales while 25 per cent were in Victoria. The estimated total value of new projects identified in January
was around $12.4 billion. Civil engineering projects accounted for 45 per cent of the estimated total value of new projects,
followed by commercial projects at 25 per cent.
Share of Project Numbers by Category Share of Project Values by Category
35% 50%
45%
45%
30%
27% 40%
25% 35%
21% 20% 30%
20%
25%
25%
15%
15%
20%
10%
15%
10%
11% 11%
7% 10%
5%
5%
5% 3%
0% 0%
Commercial
Industrial
Commercial
Industrial
Community
Mining
Community
Mining
Apartments & units
Apartments & units
Civil engineering
Civil engineering
1,429 $12,401M
Number of Projects Value of Projects
Median Project Value
Civil Engineering $727,500
Commercial $1,500,000
Community $1,000,000
Apartments & Units $1,320,000
Industrial $750,000
Mining $1,000,000
Cordell Construction Monthly February 2021 | 2
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Pipeline - Location
Apartments & Units Civil Engineering
Commercial Community
Industrial Mining
Cordell Construction Monthly February 2021 | 3
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The data behind the Construction Monthly Report is now available for
purchase. Please contact your Account Manager for more details.
Moving into construction - Australia
There were 520 projects moving into the construction phase over the month of January. The total value of those projects
is estimated to be around $3.9 billion. Civil engineering projects made up 44 per cent of projects moving into construction,
followed by community projects (29 per cent). The estimated value of projects moving into construction over the last 12
months is -11 per cent lower than the previous 12 month period.
Share of Project Numbers by Category Share of Project Values by Category
50% 45%
45% 44%
40%
37%
40%
35%
35%
30%
27%
30% 29%
25%
22%
25%
20%
20%
15%
15%
10% 10%
10%
7% 7% 7%
5% 4%
5%
3% 2%
0% 0%
Commercial
Industrial
Commercial
Industrial
Community
Mining
Community
Mining
Apartments & units
Apartments & units
Civil engineering
Civil engineering
520 $3,914M
Number of Projects Value of Projects
Median Project Value
Civil Engineering $660,000
Commercial $2,000,000
Community $800,000
Apartments & Units $1,910,000
Industrial $800,000
Mining $1,000,000
Cordell Construction Monthly February 2021 | 4
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Moving into construction - Location
Apartments & Units Civil Engineering
Commercial Community
Industrial Mining
Cordell Construction Monthly February 2021 | 5
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All rights reserved.
NSW green spaces and road and footpath network. The
campus, which is planned to be developed over 15 years,
A 33 storey, $35.67 million hotel tower planned for will eventually accommodate 6,000 students and 200
Sydney's Pitt Street would be at just over six metres wide, staff. The integrated learning community will include
the thinnest example of a 'pencil tower' in Australia and the five connected precincts, each with distinct themes. The
first of such for Sydney. The 173 room hotel is designed by landscaping envisages pedestrian walks, roof terraces
Durbach Block Jaggers following a design competition by and tree lined boulevards. The campus will support high
the City of Sydney. A spa and plunge pool will occupy the environmental sustainability targets suited to Canberra's
31st level, styled after the traditional Turkish bath house, climate designed for a zero-carbon future.
the hammam. The site already has stage one development
approval for a hotel by the Land and Environment Court
under a previous owner.
VIC
The business case is nearing completion for the Hudson
Institute National Centre for Inflammation Research in
The Western Harbour Tunnel and Warringah Freeway Clayton at the Monash Health Translation Precinct. The
Upgrade project has been approved by the Minister for facility will include PC3 containment laboratories enabling
Planning and Open Spaces. The project will create a scientists to study the inflammatory response to life-
western bypass of the Sydney CBD, taking the pressure threatening hospital or community-acquired infections.
off the Sydney Harbour Bridge, Sydney Harbour Tunnel,
Anzac Bridge and Western Distributor corridors. Main
construction on the Warringah Freeway is planned to start Assemble Communities, together with parent company
in late 2021 and on the Western Harbour Tunnel in 2022. Make Ventures, has acquired a former confectionary site
in Melbourne's inner north-western Kensington at 402
Macaulay Road, with plans to develop 400 build-to-rent
Woods Bagot and New York's SHoP Architects have dwellings. 20 percent of the dwellings will be dedicated to
been announced as the winners of a design excellence social housing, delivered in partnership with a community
competition for Mirvac's 55 Pitt Street CBD tower. The housing provider. Kerstin Thompson Architects and Hayball
design encompasses a next generation office building are preparing the town planning application. Four buildings
focusing on new return to work principles with the will be constructed with one of these to be built using
potential to deliver 60,000sq m of premium commercial cross laminated timber.
and retail space. The City of Sydney approved changes to
planning controls last November increasing the permitted
height of the tower to up to 232 metres. A new hydrogen hub in Melbourne's south east has been
funded by the Victorian Government through the Victorian
Higher Education State Investment Fund. The $10 million
Meriton has acquired a 2.7ha site in the north-western Swinburne University of Technology Victorian Hydrogen
Sydney suburb of Carlingford. The Pennant Hills Road site Hub (VH2) will be a major national precinct to explore new
could yield up to 700 apartments. hydrogen technologies, including clean energy vehicles
and hydrogen storage containers. The project is led by
ACT Swinburne University of Technology, working in partnership
with CSIRO and Germany's ARENA 2036 and will bring
Community consultation has been invited for the draft
together researchers, industry partners and businesses.
master plan for the new University of Wales campus
Construction will begin in early 2022 and will take about 18
in Canberra. UNSW Canberra City will be located at
months.
Constitution Avenue in Canberra's Parliamentary Triangle.
The master plan by Rob McGauran of MGS Architects,
Snohetta and Turf Design Studio will guide the campus QLD
development and position the building envelopes, open Crown Group will completely redesign its development
Cordell Construction Monthly February 2021 | 6
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at Victoria Street in Brisbane's West End, following the is designed by Swanbury Penglase Architects and will be
appointment of new architects Japanese Kengo Kuma and the Riverland's first secondary campus. The first stage
Plus Architecture. Approved for a 455 apartment scheme, provides classrooms for Year 7-9 students, administration
Crown will now proceed with a design with fewer but building, specialist learning and design technology
larger apartments across a greater floor area in response buildings, productive garden, playing field and hard court
to local market conditions. The new scheme is expected to play area. The second stage will provide classrooms for
comprise 450 apartments, a pool, barbecue and poolside Years 10-12 and an art and science building.
facilities, gym and community room.
Charter Hall has signed a 10-year lease agreement with
A new development application has been submitted for a the Federal Government agency Services Australia to take
three tower residential complex in Brisbane's Hamilton to up 28,500sq m across 10 floors at 60 King William Street
be named Platinum. Designed by Fuse architecture, the in Adelaide's CBD. More than 2,200 Services Australia
new design replaces two previous proposals for the site. staff will relocate to 60 King William Street in 2023. The
The project will be delivered in three stages, the first of Cox-Architecture designed tower will be a technologically-
which is a 29 storey tower with 153 apartments. A series enabled green building with touchless bathroom amenities,
of communal outdoor spaces, or "sky gardens" will be bacterial elimination systems, a wellness centre with 6
scattered throughout the tower. There will also be a pool Star Green Star and 5 Star NABERS Energy ratings. The
and clubhouse for residents. CBD's largest hotel-style end of trip facilities will include
private showers, grooming stations and space for 350
bicycles. The heritage-listed art deco facade of the Sands &
Spyre Group will develop a boutique beachfront apartment McDougall building will be retained and incorporated into
project at Marine Parade in Coolangatta. The 12 storey the design.
tower designed by Bureau Proberts will contain 31
apartments including two penthouses and will replace the
Komune Resort. The current proposal will be named Cala New concept designs have been released for the
Dei Residences and replaces the previous owner's scheme Aboriginal Art and Cultures Centre (AACC), to be built
for a 27 storey, 100 suite hotel tower. at Lot Fourteen. The AACC Aboriginal Reference Group
has worked with the project architects Woods Bagot and
Diller Scofido + Renfro to ensure the centre will be both
Plans have been submitted to Brisbane City Council for contemporary and representative of First Nations cultures
a $25 million upgrade of the Christie Building at 320 across Australia with the Aboriginal connection being
Adelaide Street. Works will include revitalisation of the woven into the design. The building’s layered, basket-like
facade by replacing the old imitation cladding with new façade is designed to evoke a wurlie shelter. The centre
regulation-compliant cladding and the addition of stepped will showcase the past, present and future of Aboriginal
urban terraces. The terraces will add an extra 1,488sq m cultures while supporting contemporary visual, performing
of gross floor area and 353sq m of outdoor space to the and multimedia arts and events.
building. Designed by Fitzpatrick + Partners, the plans also
include demolition of the top floor and replacement with a
boutique office space.
TAS
Glenorchy City Council is the recipient of a $250,000 grant
NT from the Community, Sport & Recreation's improving the
Playing Field Grants program towards the development of
Sun Cable's $22 billion Australian-ASEAN Power Link a new $750,000 BMX track at Tolosa Park.
(AAPL) project has reached a major milestone following
the signing of the Project Development Agreement
with the NT Government. The agreement provides a Plans for a $208 million redevelopment of the University of
roadmap for the NT Government and Sun Cable to work Tasmania Stadium have progressed after Launceston City
in partnership to finalise land tenure and commercial Council endorsed the Future Directions plan at this month’s
arrangements ahead of the project's financial close in meeting. The council has resolved to work with the State
October 2023. Government to complete a business case for the upgrade,
which would increase the venue’s capacity to 27,500 and
would include the construction of a high-performance
Bark Hut Inn located on the Arnhem Highway has become sports centre and a 5000-seat indoor sporting and
the first recipient of a NT Government Roadhouse to entertainment facility.
Recovery grant for remote roadhouses and caravan parks
and will undergo a $1 million upgrade. The government will
provide $150,000 towards 50 new powered sites, 12 new
WA
accommodation units, new camp kitchen and upgrade of Expressions of interest have been invited to build the
ablution blocks. iconic new Causeway Pedestrian and Cyclist Bridge across
the Swan River. The project will comprise two bridge
SA sections, with the shorter 140 metre section connecting
the City of Perth to Heirisson Island and a 250 metre
A development application has been submitted by Catholic section completing the pedestrian and cycle pathway from
Education South Australia for a new St Francis of Assisi the island into the Town of Victoria Park. The design of
College in Renmark. The $29.7 million, Year 7 to 12 school, the bridge's structural elements is inspired by Aboriginal
Cordell Construction Monthly February 2021 | 7
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history and culture, including two feature pylons reaching Newcrest Mining has backed away from its joint venture
35 to 40 metres in height. with Encounter Resources at the Aileron copper-gold-rare
earths project in Western Australia. Encounter now retains
full ownership and plans to launch preparations for field
Work has commenced on the biggest ever south-west activities later this year.
road infrastructure project, the $852 million Bunbury
Outer Ring Road. The South West Gateway Alliance,
comprising Acciona, NRW Contracting, MACA Civil, Definitions:
Aecom and Aurecon, together with Main Roads, will build Pipeline - Australia (Page 2): The flow of new projects
the 27 kilometre, 4 lane road from Forrest Highway near identified by Cordell within the data month. The New
Australind to the Bussell Highway, south of Bunbury. Project category does not include projects that were
both identified and commenced, deferred or abandoned
The contract has also been awarded for another major within the same month. The new project pipeline monitors
roads project, the $386.5 million Great Eastern Highway projects that have been flagged with the following
Bypass Interchanges project. The Greater Connect status; early, firm, no further information, possible and
Consortium comprising Laing O'Rourke, Aecom and registrations.
Arcadis will deliver the project, with early works expected
to start mid-year and completion expected by mid-2024 Moving into Construction - Australia (Page 4): Reports
subject to environmental and statutory approvals. Two new the volume and value of projects identified within the last
major interchanges will be built as part of the project. 24 months, where the project stage has been updated to
“construction” within the data month. Actual construction
Grange Development Consulting and Costa Property commencement dates may vary.
Group's $230 million triple-tower project at 97-105 Stirling
Highway in Nedlands has been approved by the Metro
Inner-North Joint Development Assessment Panel, despite
being rejected last year. Revised plans were submitted after
the developers appealed the JDAP decision to the State
Administrative Tribunal. Changes include reduction of the
towers from four to three and apartments from 301 to 231.
Mining
The NSW Independent Planning Commission has rejected
the Department of Planning, Industry and Environment's
recommendation and refused South 32's expansion plans
for a major coal mine near Wollongong, finding that the
proposed mine design posed the risk of long term and
irreversible damage to Greater Sydney and the Illawarra's
drinking water catchment. Concerns were raised about the
proposed mine design, subsidence, ground and surface
water impacts, biodiversity and upland swamps, Aboriginal
heritage and greenhouse gas emissions. South 32's $956
million Dendrobium Extension Project sought approval
to extend the life of its Dendrobium mine until the end of
2048 and extract an additional 78 million tonnes of run-of-
mine coal from two areas near Avon and Cordeaux Dams.
Data Disclaimer
In compiling this publication, RP Data Pty Ltd trading as CoreLogic has relied upon information supplied by a number
of external sources. CoreLogic does not warrant its accuracy or completeness and to the full extent allowed by law
excludes liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person
or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this
publication through any cause whatsoever and limits any liability it may have to the amount paid to CoreLogic for the
supply of such information.
Aggregate value estimates and median project values are based on raw data from the Cordell Connect database.
Data from Cordell Connect includes project values as advised by the project managers, or are estimates provided by
Cordell researchers.
Cordell Construction Monthly February 2021 | 8
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All rights reserved.
Everyone is talking about Big Data
Big Data is fundamentally changing the way builders, Collectively, our data covers more than 4 billion
developers and professionals involved in commercial decision points across residential, commercial, building
real estate go about their jobs. Detailed real time and construction costing, collected from more than
data collection is providing the industry with more 660 sources. This includes the real estate industry,
accurate and efficient tools to understand the best all levels of government, data partners, media and
performing potential markets, analyse the best types our own team of researchers creating analytics and
of products to build with, identify leads and new sales insights that fuel decisions from first home buyers
opportunities and to quickly estimate and quote. right through to federal government.
CoreLogic is the provider of Australia and New Big Data that does not tell a story or provide you
Zealand’s most comprehensive residential and with actionable insights is just a pile of numbers.
commercial property data. Our acquisition of Cordell At CoreLogic, we pride ourselves on our tools and
in 2015 means we are also now proud to be able to analytics that help our clients understand their
provide the most extensive construction data available. markets, improve their workflows, save time, make
money and make better decisions. We’d love to work
with you, too.
6 Ways Big Data Can Help You Succeed
Identify properties Identify pricing and future sweet
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Be alerted to zoning changes and Look up properties – both on and Understand the market performance
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See what is planned, out to tender See the shape of the market, when Use building data to reduce the
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