Balaclava Precinct Land Unlock: Resolving a 15-Year Strategic Stalemate
Aerial view Source: City of Port Phillip
Aerial view Source: 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: We established political and commercial viability for the site. We acted as the lead interface between the Council, community groups, and counterparty developers to resolve the deadlock. 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: We managed complex multi-stakeholder liaison and public consultation processes. This converted community opposition into embedded community benefits and broad political support.
Commercial Clarity: We developed commercial parameters and determined a basis of value that aligned market demands with public financial objectives.
Outcome Blueprint: We developed a rigorous transaction structure that future-proofed the project. This involved embedding seven specific community benefits into the deal's performance milestones, including retail renewal, public open space, public amenity, and housing outcomes.