Asset Management Sydney
Sydney Harbour Foreshore Authority
Portfolio & Operations RationalisationOverview
Sydney Harbour Foreshore Authority (SHFA) owns the land comprising the CBD harbour foreshore from Circular Quay through Darling Harbour and round to White Bay, and owns a high proportion of the buildings, facilities and assets located there. This project required full evaluation of the buildings and facilities utilised by SHFA for its own operations and the development of a program to maximise the commercial effectiveness of the buildings used; identification of change of use for assets that could generate greater financial return; and creation of greater operational harmony and efficiency within SHFA’s own teams through logical and creative colocation and restructuring.
Approach
The project included assets across the Rocks, Darling Harbour and White Bay areas of Sydney, all of which had very different and distinct characters and operational profiles. Many of the assets and buildings being of significant cultural and heritage importance added complexity, limiting the opportunities for major capital projects. Our consultants looked at the SHFA’s long term strategies and plans for growth, and conducted extensive surveys of assets, individual departments and key stakeholders. We reviewed the Government Property NSW guidelines and developed a framework to heighten operational efficiency, improve cross-department collaboration, and strengthen its business model. We ensured all rationalisation plans achieved the GPNSW asset use criteria and leveraged the strength of the portfolio to create new commercial opportunities and income streams.
Benefits
The new model enabled SHFA to improve its day-to-day operations, business continuity and staff morale. It also enabled customer facing teams to work more closely and effectively with their target audience. The rationalisation of the portfolio identified opportunities that will improve facility occupation rates by 51%, generated new lease income exceeding $1.5m pa, funded the restoration of two heritage buildings in the Rocks and created service delivery efficiency improvements of more than 12%.
Testimonials
Tony McNamara
Director of Facilities, Gold Coast University Hospital
Simon’s expertise in the fields of Facility and Asset Management was invaluable to the project. His insight into project planning and strategic direction enabled the district not only to complete the transfer before schedule, his plans and spreadsheets also became the source of reference for other districts in Queensland.