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Central Place Sydney – Project Development Agreement and; Central Place Sydney P1 Works Deed - Central Place Sydney

Contract Award Notice ID Central Place Sydney
Publish Date 1-May-2023
Category Urban planning
Agency Transport for NSW
Particulars of the goods or services to be provided under this contract

The scope of work to be delivered is as follows:

  • Demolition of all existing structures and improvements on the Development Land.
  • Construction and use of a mixed-use development comprising two podium and tower buildings including basements (integrated distribution facility), retail, a low-rise mixed-use building and a two-storey pavilion.
Contract Duration 24-Feb-2023 to 31-Jul-2031

Contract Award Notice Details

Contractor Name Dexus CPA Pty Ltd as trustee for the Dexus CPA Commercial Property Trust No. 3; and Gateway Building Nominees Pty Limited as trustee for the Gateway Building Trust
ACN 081951822
ABN 90 160 685 156
Is an Aboriginal or Torres Strait Islander owned business No
Street Address Level 25, Australia Square 264-278 George Street
Town/City Sydney
State/Territory NSW
Postcode 2000
Country AUSTRALIA

Other private sector entities involved in, with an interest in or benefiting from this contract

Dexus CPA Pty Ltd
ABN: 90 160 685 156

Gateway Building Nominees Pty Limited
ABN: 67 081 951 822

Estimated amount payable to the contractor (including GST)

$0.00 (A project to be undertaken)

Any provisions for payment to the contractor for operational or maintenance services

Not Applicable

Method of Tendering

Non Tender

Description of any provision under which the amount payable to the contractor may be varied

A variation of any provision of the contract must be in writing and signed by the parties.

Description of any provisions under which the contract may be renegotiated

Not Applicable

Summary of the criteria against which the various tenders were assessed

Evaluation Criteria Weighting

The government follows a four-stage assessment process to assess unsolicited

proposals. This includes:

Pre-Submission Concept Review

Stage 1:

a) Initial Submission and Preliminary Assessment

b) Strategic Assessment of the Initial Submission

Stage 2: Detailed Proposal

Stage 3: Negotiation of Final Binding Offer.

Unsolicited Proposals are assessed against the criteria listed below. Assessment is

based on the proposal satisfactorily meeting each of the criteria.

1. Alignment with Government Priorities and whole of Government Impact

2. Uniqueness

3. Value for Money

4. Return on Investment

5. Capability and Capacity

6. Affordability

7. Risk allocation

8. Compliance with TfNSW Requirements
Contract Contains Agency 'PiggyBack' Clause

No

Industrial Relations Details for this Contract
Name of Sub-contractors (incl. ABN & ACN)

Not Applicable

Applicable Industrial Instruments

Not Applicable

Location of Work

Not Applicable

NSW Industrial Relations inspectors routinely audit the employment records of contractors and sub-contractors to all NSW Government contracts. The results of these inspections are published on the NSW Industrial Relations website.

Agency Contact Attn: Project Information Officer, Infrastructure and Place, TfNSW

State/Territory NSW

Country AUSTRALIA

Other Information

The Project Development Agreement for the Central Place Sydney unsolicited proposal was awarded to Dexus and Frasers Property following an assessment process in accordance with the NSW Government’s Unsolicited Proposals: Guide for Submission and Assessment (May 2022).

Particulars of future transfers of assets to the State, at zero or nominal cost to the State, including the date of their transfer

Not Applicable

Particulars of future transfers of assets to the contractor including the date of their transfer

Not Applicable

The results of any cost-benefit analysis of the contract conducted by the agency

Not Applicable

The components and quantum of the public sector comparator if used

Not Applicable

If relevant, a summary of information used in the contractor's full base case financial model (for example, the pricing formula for tolls or usage charges)

Not Applicable

If relevant, particulars of how risk, during the construction and operational phases of a contract to undertake a specific project (such as construction, infrastructure or property development), is to be apportioned between the parties, quantified (where practicable) in net present-value terms and specifying the major assumptions involved

Project Risks

The Developer accepts all risks in connection with the Project including:

  • carrying out all elements of the project
  • the site conditions as at the commencement date
  • the suitability of the land for the development
  • the estimated cost and profits
  • Approvals and additional consents from public authorities and third parties.
Particulars as to any significant guarantees or undertakings between the parties, including any guarantees or undertakings with respect to loan agreements entered into or proposed to be entered into

Parent Company Guarantees have been received from:

  •  Dexus Funds Management Limited (ABN 24 060 920 783) as responsible entity for Dexus Operations Trust (ABN 69 645 176 383 ) (“Dexus Guarantor 1”)
  • Dexus Funds Management Limited (ABN 24 060 920 783) as responsible entity for Dexus Property Trust (ABN 24 595 854 202 ) (“DexusGuarantor 2”)
  • Frasers Property Australia Pty Limited (ABN 89 600 448 726) (“Frasers Guarantor”)
Particulars of any other key elements of the contract

Not Applicable

A web site address which provides direct access to the complete contract less confidential information
https://www.transport.nsw.gov.au/industry/contracts-awarded
Has the contract or any provisions within it been withheld from this disclosure under the exemptions provisions of the GIPA Act Section 32? (YES or NO)
Yes
If yes to the above, what are the reasons why the contract, or provisions therein, have not been provided?

The reasons why the contract or provisions therein have not been provided under the exemption provisions of the GIPA Act Section 32 are outlined in the GIPA Redaction Schedule and include:

  • The disclosure of this information could reveal an individual's personal information.
  • There is an overriding public interest against disclosure.
  • The disclosure of this information would place the Developer at a substantial commercial disadvantage in relation to other Developers or potential subcontractors, whether present or in the future.
  • The disclosure of this information could reveal commercial-in-confidence provisions of a government contract, diminish the competitive commercial value of information to a person and prejudice a person’s legitimate business and commercial interests.
  • The disclosure of this information could reasonably prejudice the effective exercise by an agency of the agency’s functions (being the procurement of major projects).
  • The disclosure of this information discloses the Developer’s cost structure or profit margins and could reasonably be expected to place the Developer at a substantial commercial disadvantage in relation to other Developers or potential contractor, whether present or in the future.
If yes to the above, is it intended that the contract or those provisions be published at a later date, and if so, when?

No

If yes to the above, when some but not all provisions of the contract have been published, a general description of the types of provisions that have not been provided

Not Applicable

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Government agency

2-24 Rawson Place Sydney NSW 2000 nswbuy@treasury.nsw.gov.au 1800 679 289 (International +61 2 8229 2322)

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