Cordell Construction Monthly - September 2020 - Pacifecon
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Cordell Construction Monthly September 2020
The data behind the Construction Monthly Report is now available for
purchase. Please contact your Account Manager for more details.
Pipeline - Australia
There were 1,631 new construction projects identified by Cordell in August, down 14 per cent month-on-month. The total
number of new projects added to the pipeline over the 12 months to August is down 8 per cent when compared to the
previous 12 month period. The estimated total value of new projects identified in August was just under $12.7 billion, with civil
engineering projects accounting for 42 per cent of the estimated total value, followed by community projects at 18 per cent.
Share of Project Numbers by Category Share of Project Values by Category
40% 50%
45%
35% 42%
33%
40%
30%
35%
25% 23% 30%
20% 25%
18%
20% 18%
15% 17%
13%
15%
10% 9%
10% 9%
8%
5% 4% 5%
5%
0% 0%
Commercial
Industrial
Commercial
Industrial
Community
Mining
Community
Mining
Apartments & units
Apartments & units
Civil engineering
Civil engineering
1,631 $12,681M
Number of Projects Value of Projects
Median Project Value
Civil Engineering $500,000
Commercial $1,000,000
Community $1,000,000
Apartments & Units $1,000,000
Industrial $500,000
Mining $1,000,000
Cordell Construction Monthly September 2020 | 2
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Pipeline - Location
Apartments & Units Civil Engineering
Commercial Community
Industrial Mining
Cordell Construction Monthly September 2020 | 3
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The data behind the Construction Monthly Report is now available for
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Moving into construction - Australia
There were 690 projects moving into the construction phase over the month of August. The total value of those projects is
estimated to be around $5.9 billion. Civil engineering projects made up 44 per cent of projects moving into construction,
followed by community projects (26 per cent). Over the 3 months to August, the number of projects moving into the
construction phase increased by 1 per cent when compared to the previous 3 month period.
Share of Project Numbers by Category Share of Project Values by Category
50% 35%
45% 44% 32% 31%
30%
40%
35% 25%
30%
20%
26% 18%
25%
15%
20%
11%
15%
12% 10%
8%
10% 9%
8%
5%
5%
1% 0%
0% 0%
Commercial
Industrial
Commercial
Industrial
Community
Mining
Community
Mining
Apartments & units
Apartments & units
Civil engineering
Civil engineering
690 $5,917M
Number of Projects Value of Projects
Median Project Value
Civil Engineering $624,000
Commercial $2,300,000
Community $1,069,000
Apartments & Units $2,700,000
Industrial $900,000
Mining $1,000,000
Cordell Construction Monthly September 2020 | 4
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Moving into construction - Location
Apartments & Units Civil Engineering
Commercial Community
Industrial Mining
Cordell Construction Monthly September 2020 | 5
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NSW once a site has been identified and planning is further
progressed. It is expected that a site could be identified in
With the City of Sydney endorsing changes to planning 2021.
controls in the CBD which would remove the 235 metre
cap on building height limit, which could allow for towers
in Barangaroo, Central Station, Circular Quay and Town
ACT
Hall to be as high as 330 metres, a planning proposal by Neoen has been awarded a 14 year contract to supply
Greaton for a Vertical Innovation Village at Haymarket 100MW of wind energy from Stage 1 of its Godyer
has been recommended by the Central City Planning Renewables Zone in an ACT Government renewable
Committee for submission to the Department of Planning, auction. As part of the contract, Neoen will build and own a
Industry and Environment for a gateway determination. battery storage facility of at least 50 MW in Canberra.
The hybrid tower development rising to 226.8 metres
would bring together on a single site a world-class co- Stewart Architecture has been selected to design a new
working hub, laboratory and auditorium, shared equipment, Performing Arts Centre for Daramalan College, which the
workshops and facilities to foster and support small and school hopes to open in time for its 60th anniversary in late
start-up businesses in the technology sector, 4 star tech 2022. The centre would include a foyer, drama performance
hotel within the upper levels with approximately 234 space for approximately 200 people, drama and music
keys, meeting, forum, gym, hospitality and other spaces classrooms, music tuition/practice rooms and a rehearsal
integrated throughout the building. There would also be space for school bands, and an office.
33,100sq m of office space over 26 levels for the corporate
tech sector and improved pedestrian connections with
an upgraded through-site link to George Street lined with
VIC
retail premises. Ecologically sustainable development The 130 year old former Geelong Post Office has been
benchmarks would be achieved to ensure an energy bought by developer Paul Votsaris, with plans for a
efficient building is delivered, with a 6-star Green Star $20 million transformation into an accommodation and
rating. hospitality complex called the Precinct Art Hotel. The
complex will comprise boutique suites, a rooftop bar,
wellness centre, restaurant, cafe, public artwork and a
A new Ambulance Superstation will be built at the site of rotating light sculpture installation, whilst protecting the
the former Coroner's Court of NSW at Glebe, as part of existing heritage features. The development will include
the NSW Government's Sydney Ambulance Metropolitan reinstating the historic grand entry space on Gheringhap
Infrastructure Strategy program. The centralised hub will Street, retaining the original 1890 fabric of the Post Office
provide enhanced capability for logistical functions such and the 1910 clock tower.
as cleaning and restocking of vehicles, as well as space for
paramedics to be trained.
Mirvac and Milieu are collaborating on Albert Fields, a
build-to rent urban precinct in Brunswick. Designed by
The NSW Government has announced an additional $320 Fieldwork, Breathe and Openwork and situated between
million from stimulus funding, on top of the current state Brunswick's Clifton Park and Gilpin Park. The sustainable,
funding of $251 million and Commonwealth funding of $128 community-focused urban precinct will be designed and
million, for the new Shellharbour Hospital to be built on a built entirely for renters. The 1 hectare site could support
new site. The new hospital is expected to include services over 500 homes. Construction is due to commence in mid-
such as acute medical and surgical services, medical 2022, subject to planning approval. Plans will be lodged
imaging, emergency department, mental health services, with Moreland City Council later in the year.
outpatient and ambulatory care and a multi-storey car
park, for which a further $23 million has previously been
announced. Construction timeframes will be confirmed The Victorian Government will upgrade and expand
pavilions, playgrounds, community centres and other
Cordell Construction Monthly September 2020 | 6
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infrastructure in Melbourne‘s fastest growing suburbs provide much needed additional on-site car parking for
under its Growing Suburbs Fund. The projects include $2.5 staff and public at the Alice Springs Hospital.
million towards a new Community Pavilion in Diggers Rest,
$2.25 million for the Flinders Civic Hall redevelopment and
nearly $1 million for the Princes Highway Trail in Cardinia The Territory Labor Government plans to build 32 new
Shire. The investment will also improve and expand homes and upgrade around 20 others at Milingimbi in
children’s centres in Hampton Park, Thomastown and the Crocodile Islands archipelago. A staged sixty-lot
Kilmore, and skate parks in Craigieburn and Upwey. Urban subdivision will also be constructed in readiness for new
fringe councils were awarded five grants including $2.5 houses. Works will be carried out over the coming years
million for the Cowes Cultural and Community Centre, $2.5 under the Government’s job-creating remote housing
million for the Darley Park Community and Sports Centre and land servicing programs which include HomeBuild
and $500,000 for the Longwarry Early Learning Centre. NT and Room to Breathe. Housing development in the
East Arnhem community had been on hold due to a
critical water shortage but recent studies revealed the
Lendlease has been appointed to deliver the next stage groundwater yield was significantly higher than previously
of the $128 million Geelong Performing Arts Centre. understood.
Works will include a new 500 seat drama theatre, 250
seat courtyard theatre, black box theatre, an outdoor SA
atrium, more dining options, an upgraded box office and
Clayton Church Homes will undertake an $18 million
refurbishment of the back of house and administration
redevelopment of its Summerhill aged care facility at
facilities. A period of investigation and planning to
Uraidla in the Adelaide Hills, the largest redevelopment in
further develop the design and plan construction will now
history for the town. The project would involve demolishing
commence. Works are scheduled to get under way on site
the existing home and replacing it with two double storey
in late 2020 and the new centre is expected to open by
buildings with a library, café, cinema, community room,
2023.
shops and a family sleepover room, increasing the number
of beds to 60.
QLD
Stockland and joint venture partner Fife Group have
purchased a 21.25 hectare parcel of land in Willawong The Southern Cross Arcade on King William Street will
which was offloaded by Caterpillar equipment dealer be demolished to make way for a 15 storey office tower
Hastings Deering. by Charter Hall following a development application
submitted to the SA Planning Commission. The project
designed by Cox includes 40,000sq m of office space
Brisbane City Council is seeking feedback on the draft and 3,000sq m of retail on the ground floor. Subject to
reference design for the Kangaroo Point Green Bridge approvals, Charter Hall hopes to start construction early
and the concept design for the Breakfast Creek Green next year with completion by the middle of 2023.
Bridge. Council is fast-tracking the delivery of the two
bridges, with a combined value of $257 million, to bring TAS
forward critical investment in Brisbane following COVID-19.
Fragrance Group has been granted development approval
Construction of the Kangaroo Point and Breakfast Creek
for a 45 apartment complex at the former University of
Green Bridge will commence late 2021, with expected
Australia Conservatorium of Music site in Hobart. Revised
completion for both bridges by the end of 2023, subject to
plans were submitted to reduce the height of the building
future consultation and government approvals. Planning for
by removing two central floors, following a previous
the Toowong to West End and St Lucia to West End Green
recommendation for refusal.
Bridges is in the early stages, with a range of technical
investigations and studies underway. This includes traffic
and transport modelling, environmental assessments, and A masterplan for Skylands, a 350 hectare masterplanned
further investigation of potential alignments and landing community at Droughty Point is progressing. Community
locations. The outcomes of these studies, along with consultation has been invited, under the direction of US-
further feedback from the community and stakeholders based leading urban planning company DPZ CoDesign. The
later in 2020, will inform the preparation of a preliminary long-term project will be planned and delivered over a 30-
business case for each project. year time frame. A series of virtual public meetings will be
held at the end of October and early November to discuss
issues such as zoning, land use, transportation, heritage,
Lacey Group is planning a 13 storey, 72 unit development
conservation and open space to create a final masterplan
in Coolangatta, with a development application submitted
by the end of the year.
to Gold Coast Council. The design by Plus Architecture is
inspired by the rhythm & movement of the rolling waves at
Kirra Beach. Tasmanian company CPT Engineering has been awarded
the tender to construct a new lookout and elevated
NT walkways overlooking Wineglass Bay within the Freycinet
The design and construction tender for the new $12 million National Park.
Alice Springs Hospital multi-storey car park has been
released. The development will accommodate 250 cars and WA
Cordell Construction Monthly September 2020 | 7
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A new iconic bridge across the Swan River, taking from the Amadeus Basin near Alice Springs and Santos’
pedestrians and cyclists off the existing Causeway Bridge Moomba gas plant in northern South Australia. The project
will be built as part of the WA Recovery Plan. The new would reduce the distance gas has to travel from the
river crossing will provide a safer connection from the Amadeus Basin to Moomba by more than half, avoiding a
Perth CBD to Victoria Park and beyond for pedestrians and route via Tennant Creek and Mount Isa and could deliver
cyclists. It is estimated the new bridge will cost around $50 124 terajoules a day of gas, or 45 petajoules in a year, and
million. The initial design, which envisions boomerang and could be expanded by adding compression. The project
digging stick shaped pylons supporting a gently curved has been suggested for government support by the
bridge, takes inspiration from the stories of two key figures National COVID-19 Co-ordination Commission.
associated with Heirisson Island and its importance to
the indigenous people: Noongar Whadjuk woman Fanny
Balbuk, and Noongar man Yagan. Definitions:
Parcel Property is planning a nine storey, 54 apartment Pipeline - Australia (Page 2): The flow of new projects
development in Mosman Park named NOMA designed by identified by Cordell within the data month. The New
Plus Architecture. The project will include 3 ground floor Project category does not include projects that were
commercial tenancies, communal facilities, inclusive of a both identified and commenced, deferred or abandoned
business lounge, rooftop terrace, and publicly accessible within the same month. The new project pipeline monitors
spaces, including a seated courtyard around an existing projects that have been flagged with the following
mature Red River Gum tree and a landscaped laneway with status; early, firm, no further information, possible and
public art and feature lighting. registrations.
Mining Moving into Construction - Australia (Page 4): Reports
The Western Australian Government has granted lead the volume and value of projects identified within the last
agency status to Leichhardt Industrials' $280 million solar 24 months, where the project stage has been updated to
salt project at Eramurra, 55km south-west of Karratha “construction” within the data month. Actual construction
coast. commencement dates may vary.
The Environmental Effects Statement for Kalabar
Resources' Fingerboards Mineral Sand Project in
Glenaladale, East Gippsland, Victoria has been released
for public comment, following three years of technical
investigations and community consultation. Kalbar
Operations proposes to extract 170 million tonnes of
ore to produce around 8 million tonnes of heavy mineral
concentrate over 15-20 years. Heavy mineral concentrate
is the valuable heavy mineral that has been extracted
from the ore but has not yet been processed into final
mineral products. The mineral products – zircon, ilmenite,
rutile, and rare earths – are in high global demand for use
in communications, transport, medical technology and
renewable energy.
The 1.2 billion Amadeus to Moomba Gas Pipeline is a
950 kilometre pipeline proposed by Central Petroleum,
Macquarie and Cheung Kong Group which would extend
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 September 2020 | 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
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real estate go about their jobs. Detailed real time and construction costing, collected from more than
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CoreLogic is the provider of Australia and New Big Data that does not tell a story or provide you
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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
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