Construction Activity Update | November 2018

National Overview - Significant Projects

2,292 new construction projects added to the pipeline of pending projects in October 2018; 19% higher than September

2018 and the highest monthly figure since July 2014. At a national level, the number of new projects was higher across all categories except Units and Apartments which was flat.

The total estimated value of new projects at $29bn for October is approximately 9% lower than last month, however, this value of new projects is nearly double the 3 year median indicating continued strength in construction applications.


Victoria Overview - Significant Projects

Developer Seacombe West has submitted a town planning application for a $105 million six-star luxury eco resort on the shore of Lake Wellington. The resort will comprise 36 luxury rooms in the main hotel, 45 rooms in villa units, plus restaurants, spas, treatment rooms, galleries, lounges and a deck.

Builder BMD Group has been awarded the design and construct contract for the $38.4 million Hallam Road Duplication.Work is expected to commence by late 2018 with completion due in early 2020.

Zenviron has been awarded the contract from Goldwind Australia to build both sections of the $370 million Moorabool Wind Farm. The facility will comprise a total of 107 wind turbines in two sections, the northern section comprises 50 turbines and the southern section consists of 57 turbines.

Marriot International will partner with Chinese developer Ousia Investments to operate a 150-room hotel in West Melbourne, which is expected to open by 2021.

Expressions of interest have been invited for the northern sections of the M80 Ring Road. Works will include upgrade of a 4 kilometre section between Sydney Road and Edgars

Road and a 2 kilometre section between Plenty Road and the Greensborough Highway. The upgrade will also include a dedicated access ramp from the Hume Street Freeway to Edgards Road and installation of an intelligent freeway management system with overhead electronic signs to provide up to date travel information and help manage traffic flow.

Developer Kokoda Property has submitted an $80 million town planning application for a twin tower project comprising 270 apartments, office, retail and restaurant space at the Angel Tavern site in Malvern. Designed by Jackson Clements Burrows, the towers will span 10 and 20 storeys.

Builder Kane Constructions has been appointed to deliver the $64.6 million State Netball and Hockey Centre in Parkview. Initial designs for the centre have now been unveiled. The project will provide six new netball courts to replace the existing outdoor courts, new indoor hockey facility, high performance strength and conditioning gym and a base for Netball Victoria and Hockey Victoria.

The Labor Government has announced $60 million funding for a new day rehabilitation centre at Bendigo hospital which is set to open in 2023. The new centre will bring together health services such as physiotherapy, occupational therapy, social work, speech therapy, prosthetics and orthotics, clinical psychology and neuropsychology, which are currently spread out across the different locations on the hospital grounds.

Source: Corelogic

James Choi