Member Presentation 3 Held at City Tattersalls Club on Tuesday 10 December 2013 1. Decision to progress to next stage due to positive feedback from Council 2. Funds of $220,000 approved to proceed to the next stage - December 2013 3. Media coverage commenced 4. Colliers distributed the Information Memorandum to open market
5. Receipt and Appraisal of Expressions of Interest 6. Negotiation with short list of prospective developers commences creating competitive tension period 7. Independent Check and Evaluation of Expression of Interest undertaken 8. Members Briefing 3 to be held in December 2013
PREFERRED DEVELOPER
Member Presentation 3 Completed Actions Members communication since Briefing Meeting 2 on Tuesday 27 August 2013
Media Coverage
September
Due to the extensive media interest in the development opportunity at City Tattersalls Club, a media plan was prepared to manage the distribution of information to the market place.
Information added to Club website includes:
Key Dates
• Airspace Development landing page
• City Tattersalls Club held an exclusive Media Briefing Session and our media consultant distributed a press release to the marketplace on Wednesday 28 August 2013
• Members Briefing Meeting 2 Presentation • Club Information Memorandum
MEDIA COVERAGE ARTICLES SUMMARY
September/October
HEADLINE
DATE
MEDIUM
‘City Tatts enters new era’
Monday 2 September 2013
Property Oz
‘Final piece in waterfront puzzle’ by Ben Wilmot and Lisa Allen
Saturday 31 August 2013
The Weekend Australian
‘City Tatts reaches skywards to secure future’
Thursday 29 August 2013
The Daily Telegraph
October
‘City Tatts Club plans 48-floor tower’ by Carolyn Cummins
Thursday 29 August 2013
Sydney Morning Herald
• All media coverage listed on Club website
‘City Tattersalls Clubs plans to ‘unleash’ Pitt Street space’ by Robert Harley
Thursday 29 August 2013
Australian Financial Review
November
‘Tatts unveils CBD tower plan’ by Lisa Allen
Thursday 29 August 2013
The Australian
‘New 48-storey tower could spark Chinese interest’
Thursday 29 August 2013
Brisbane Times
Notice of Members Briefing Meeting 3 added to:
‘Sydney is in the grips of a building boom’
Wednesday, 28 August 2013 Channel Ten 5PM News
• Club Magazine, notice boards and website
New 48-storey tower could spark Chinese interest’ by Carolyn Cummins and Stephen Nicholls
Wednesday 28 August 2013
Sydney Morning Herald
December
‘City Tatts Club plans 48-floor tower’
Wednesday 28 August 2013
Brisbane Times
• Email invitation to Members Briefing Meeting 3 sent to Members
‘City Tattersalls Club proposes 48-level Pitt Street Sydney mixed use redevelopment’ by Nicola Trotman
Wednesday 28 August 2013
Property Observer
‘Office sector subdued as rents flatten’ by Carolyn Cummins
Wednesday 28 August 2013
Sydney Morning Herald
‘City Tattersalls bets on tower block plan’
Saturday 24 August 2013
The Australian
• Weekly updates showcasing market response during EOI period • Digital signage regarding development placed around Club
• Followed by reminder email and SMS notifications • Regular information updates will continue
PREFERRED DEVELOPER
Member Presentation 3 Media Coverage Property OZ
Sydney Morning Herald
The Daily Telegraph
‘City Tatts enters new era’ Monday 2 September 2013
City Tatts Club plans 48-floor tower’ by Carolyn Cummins Thursday 29 August 2013
‘City Tatts reaches skywards to secure future’ Thursday 29 August 2013
PREFERRED DEVELOPER
Member Presentation 3 Media Coverage Brisbane Times
Channel Ten 5pm News
‘New 48-storey tower could spark Chinese interest’ by Carolyn Cummins Thursday 29 August 2013
Wednesday 28 August 2013
PREFERRED DEVELOPER
Member Presentation 3 Information Memorandum
Commencement of Expression of Interest: 2 September 2013 1. Information Memorandum was issued to the marketplace 2. 6 week marketing campaign was launched from 2 September 2013 to 9 October 2013 with display advertisements in the Australian Financial Review, Sydney Morning Herald, direct email marketing and website listings 3. Data Room Set-up 4. Provision of responses to Data Room enquiries 5. Management of expression of interest process
PREFERRED DEVELOPER
Member Presentation 3 Information Memorandum
Example Pages 6 - 7
Example Pages 10 - 11
Example Pages 8 - 9
City Tattersalls Club and Colliers International developed a 36 page Information Memorandum that contained pertinent information required by Company to make a satisfactory assessment of the City Tattersalls Club development opportunity and its value.
PROPERTY H IGHLIGHTS
PRoPeR ty
CITY TATTERSALLS CLUB
the site consists of the two 194 Pitt titles cont street on aining four one title street sydn propertie and 196 ey, on the s being , 198-200 other. and 202 – 204 Pitt loca
the cit
y tatte Rs
all’s cl the club is the own ub er of two the four tion titles fron propertie ting Pitt s of 194 street. the street cont , 196, 198 situated club has aining in the cent - 200 and been asso inception re of the 202 - 204 from the ciated in 1926 cbD, the Pitt intersect and club the planning with this site sinc ion of the listed on site is only this loca e its Pitt street the central of three tion prov metres mall and of these ides exce sydn the Pitt stre ey propertie market stre LeP heri llent acce s is et tage inve ss to the et. develo ntory. myers, Davi mall with its offer retail hub PM ings of sydney, d Jones ent Pote of the wes and all of surround tfield sydn the club ntial the asso ing these ey city, has ciate major reta undertak d specialty and disc en extensiv il offerings it also prov shops ussions . e prelimina ides exce with the that a deve ry investiga llent ame sydney city at st Jam nity with lopment tions es station council. access to of approxim be and tow it has cons entertain the rail netw establish tructed on ately 33, n hall, ment, resta ed 500sqm the site depe ork and resid urants, bars buses and taxis of gFa can ndent on ential. , parking, and gym the mix of nasiums commer . approxim cial ately 18,0 00sqm of develope gFa is pote d as resid ntially avai ential apar flexible and lable to be tments. this dependen allocation t on the the club of final desi . gn and alloc gFa is ation back the club to wishes to enter into a suitable a developm party to provide the ent agre to develop ement with succ the site. in exchange essful party with to develop the rights the club and wishes the the following hand back to the develope club as ; r freehold ownersh i) the ip, basemen t to level 6 of som ii) the top two leve e 10,285s qm, as a ls being approx. 620 cold shel 47 and 48 l sqm, as in the club a cold shel iii) hote s scheme, l l/service of d apartme divided into nts on leve ls 7 – 13 97 units , a total of inclusive iv) apartme and 4,875sqm nts in the outstanding of gFa residentia loca v) tion cash l tower 194 – 204 Pitt street is in the very heart of the the opportunity to develop also wish sydney cbD. the residentialclub nts inessuch to rem stre apartme location rarely become a central ain in occu during the s availableetdue pation of developm to the difficulty site that is econom 202 – 204 inent. collating ically viable. whilst Pitt exPResthere have been numerous a fringe city apartme nt developments, sio of this site ns provides the amenity that comes int exceptio internatio eRes with such nalt a centrally nal expr located essions develop ment site. 10th of inter est closing MiniMised land october 2013. at 4;00pm cost excl thursday usive mar keting age Due to the club looking toJon havecho parts of the developnts and returned to it Mle ment completed for occupat ion, there isyno requirem national air rights value to Director, be paid prior to work the eRt capital marent for allRob Mccuai kets a developer to minimis investme nt servcommen g co-Found ices cing. this will enable e m; financin costs against this er + 61g412 reduce overheads componentadvi 219 for thee;site develop and sory boa jon.chom ment.830 rd ley@colli +61 412 ers.com 257 227 outlook and robert.m vieWs ccuaig@ colliers.c the site is in an om intensively develop ed area of the cbD with low rise building however, s to the north, the development will up and down Pitt enjoy views st and across Pitt st to the west. it north easterly views will also have from the upper levels towards hyde Park the harbour. and INFORMATION
8
INFORMATION MEMORANDUM
MEMORANDUM – CITY TATTE 194-204 PITT RSALLS CLUB STREET, SYDN DEVELOPM EY AUSTRALIA – SEPTEMBER ENT 2013
7
CITY TATTERSALL’S CLUB DEVELOPMENT – 194-204 PITT STREET, SYDNEY AUSTRALIA SEPTEMBER 2013
PREFERRED DEVELOPER
Member Presentation 3 Marketing Campaign 6 Week Marketing Campaign Launched from 2 September - 9 October 2013
Display Advertisements
Display Advertisements
Australian Financial Review
Sydney Morning Herald
Level of Market Interest From the 6 Week Marketing Campaign
ADVERTISING
DATE
MEDIUM
• Internet hits
Week 1
03/09/2013
Australian Financial Review - Tuesday
07/09/2013
Sydney Morning Herald - Commercial
• Information Memorandum sent
67
10/09/2013
Australian Financial Review - Tuesday
• Confidentiality Agreements sent
21
14/09/2013
Sydney Morning Herald
24/09/2013
Australian Financial Review - Tuesday
• Groups in Data Room
17
E-Marketing
03/09/2013
Email to qualified database of 2,500
Internet
03/09/2013
Real Commercial web listing
Week 2 Week 3 CAMPAIGN ITEMS
812
Colliers advise this was one of the best campaign results seen - “A Fantastic Result”
PREFERRED DEVELOPER
Member Presentation 3 Expressions of Interest Receipt and Appraisal of Expressions of Interest
Working with shortlisted companies
The 3 shortlisted companies submitted their revised proposals
10 October 2013 - 9 December 2013
Over 20 workshops with 3 individual companies and their design teams were held with City Tattersalls Club to identify and clarify the following parameters:
Submitted on Wednesday 4 December 2013 for evaluation and appraisal by City Tattersalls Club
1. Initial submissions reviewed 2. Short list of three companies advised 3. Shortlisted companies enter into competitive tension period to refine offers 4. All companies required to resubmit refined proposals by 4 December 2013 5. Committee to select the preferred company and enter into exclusive arrangement period for next stage
• Site constraints - heritage, planning, structural, construction access • Full understanding and integration of Club, hotel and private apartment requirements • Temporary Club operation during the construction phase • Documents required for further independent evaluation, as part of the revised submissions • Club requirements in all areas
PREFERRED DEVELOPER
Member Presentation 3 Preferred Developer Result of Appraisal of Expressions of Interest
City Tattersalls Club is proud to announce that Mirvac was selected as the preferred property group to work in partnership with our Club.
Why Mirvac was selected Financial • Financial strength of Mirvac Design • Australia’s leading design firm - Crone Partners • Club Brief - listened and responded • Future proofed the Club for generations to come • Created an iconic concept to reposition the Club Construction • Experts in fast tracking CBD projects • Understanding of City of Sydney Council requirements • Integrated model = speed and efficiency • Minimal impact to Club operations during construction • Extensive experience in heritage sites
PREFERRED DEVELOPER
Member Presentation 3 Potential Development Proposal Indicative Development Proposal 1
Potential Development Proposal Presented By Tony Guilfoyle Chief Executive Officer City Tattersall Club
What is included in the Development Proposal • Seven floors of new Club space With a range of amenities including restaurants, bars, fitness centres, day spa, function facilities and gaming • Hotel 100 rooms with a 4 Star rating • Sky Terrace 100 seat restaurant and bar area • Two shared basement floors • Signage naming rights on the top of the tower
PREFERRED DEVELOPER
Š 2013 copyright | crone partners
Member Presentation Functions 3
4
Levels 45th
Potential Development Proposal
Plant Space
Indicative Development Proposal 1 Levels 41st - 44th Residential Penthouses
Level 14 - 44 Residential Units
Levels 14th - 40th Residential Units
Level 8 - 13 Levels 9th - 13th 100 Room Hotel: 4 Star Hotel Suites
Level 7 Levels 7th - 8th 100 Seat RestaurantRestaurant & Sky Terrace & Lobby Level Ground - 6 Level Ground - 6th City Tattersalls Club Upgraded Facilities Tatersall's Club Facilities
Level Basement 1 & 2 Shared Sub Basements PREFERRED DEVELOPER
Total of 48 levels EOI scheme presentation | city tattersall’s club | sydney | 07.12.2013
Member Presentation 3 Interim Club
Interim Club during the build
What does this mean for the Club long term?
1. Interim Club will provide members with gaming, restaurant, bars, fitness facilities, functions and dancing classes in 202, 204 Pitt Street
Presented by Patrick Campion Chairman, City Tattersalls Club
2. Special arrangements for swimming, snooker and dancing 3. Neighbouring construction work happening next door during the build period
1. Complete upgraded and new facilities and amenities 2. Ownership of a 100 room hotel with business opportunities (4 Star) 3. Decrease the reliance on gaming 4. Complete new offering for local, interstate and international members – a total change to the Club’s business model 5. Private apartments supporting City Tattersalls Club offerings and giving a greater presence in the Sydney CBD 6. Substantial increase of overall value of Club assets 7. The long term survival and prosperity of our Club PREFERRED DEVELOPER
Member Presentation 3 Next Stages Next stages from 10 December 2013 Key milestones for the next stage December 2013 - July 2014: December 2013 - May 2014 • Development management agreement terms and conditions negotiations • Set-up member’s dedicated development information display area • Continue to refine the indicative development proposal February - July 2014 • Member’s Information Process • Various Members’ Briefing Meetings May - July 2014 • Member Vote
2013
2014
DECEMBER
JANUARY
FEBRUARY
10 December 2013
Member's Briefing
11 December 2013
Exclusivity Period
13 December 2013 - 14 July 2014
Work up Development Management Agreement
MARCH
APRIL
14 February 2014 - 14 May 2014
Set up member display and information area
14 July 2014
Set up Member Approval process
MAY
JUNE
JULY
DMA / Agreement Member Vote
PREFERRED DEVELOPER
Member Presentation 3 Recent Media Coverage The Australian ‘Developers circle Sydney CBD’ By Lisa Allen and Ben Wilmot Wednesday 28 November 2013
PREFERRED DEVELOPER