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Client
Aqua Apartments - Nelson Bay
Sector
Residential
Location
Sydney
Services
PCG Capital is a property investment and development company focused on creating investment-grade property assets for its investors. Through strategic acquisition, development and asset management, the organisation identifies and delivers high-quality property opportunities designed to generate strong long-term returns. For the AQUA Apartments project, PCG Capital acted as the responsible entity for the Nelson Bay Development Trust, overseeing the development on behalf of its investor stakeholders and engaging PCG to manage the delivery process from planning through to completion.
PCG Capital engaged PCG to provide project management, interior design and construction management services for AQUA Apartments, a premium residential development in Nelson Bay. The project involved improving development approvals, managing design and construction delivery, and achieving strong commercial outcomes while delivering a high-quality residential environment for residents and investors.
PCG Capital engaged PCG to provide project management, interior design and construction management services for AQUA Apartments, a tourism residential development in Nelson Bay, NSW. The project required careful management of cost, risk and programme to protect investor returns within a special purpose development trust structure.
PCG improved the existing development approval through two Section 96 applications, repositioned the apartment design to deliver a more contemporary product, prepared comprehensive tender documentation and negotiated a design and construct contract. Throughout construction, PCG closely managed programme, quality and cost performance to ensure certainty of outcome and minimise project risk.
AQUA Apartments was delivered on time, under budget and to a quality standard that exceeded expectations. PCG successfully contained contract variations to less than 1% of the AUD$33M end construction cost, providing strong value and investment outcomes for the development trust and its investors.
Project Cost $33 Million
Construction Contract Successfully Managed
On Budget
Contract Variations Contained Below Construction Cost
Project Delivered On Time
And Above Quality Expectations
"Our association with PCG provides us with a management and delivery capability for our development projects that is second to none. The ability to engage PCG as our project partners means greater certainty of outcome for our investor clients and enables us to realise our vision - the creation of investment grade property assets. By involving PCG early in our due diligence we were able to very efficiently and thoroughly assess the feasibility and planning of our development projects - sort the wheat from the chaff - and move forward to secure the best available opportunities for our investor clients."
Mr Luke Pollard
Chief Executive, PCG Capital
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