Balaclava Precinct Land Unlock: Resolving a 15-Year Strategic Stalemate
Director experience at City of Port Phillip
Director experience at City of Port Phillip
The Challenge: A key strategic mixed-use site had stalled for 15 years due to intractable public-private friction. This delay threatened the regeneration of the entire precinct. Previous attempts to implement a transaction pathway had failed. We were given the mandate to establish a viable way forward.
Our Intervention: Working within Council, the directors helped develop a transaction pathway for the stalled precinct proposal. The work coordinated stakeholder engagement and commercial negotiations for Council’s consideration. Our team secured final council approval by simultaneously adhering to the public mandate and managing commercial negotiations.
Our Impact:
Strategic Enablement: We identified, negotiated, and secured the first workable transaction pathway after a 15-year stalemate.
Political De-risking: Coordinated consultation and incorporated agreed community objectives into the proposed transaction.
Commercial Clarity: We developed commercial parameters informed by available property evidence and relevant specialist advice that aligned market demands with public financial objectives.
Outcome Blueprint: Developed commercial obligations and performance milestones for legal documentation. This involved embedding seven specific community benefits into the deal's performance milestones, including retail renewal, public open space, public amenity, and housing outcomes.