Sydney Metro invites Tenders from appropriately experienced entities with relevant and proven property valuation experience. 

Sydney Metro intends to establish a prequalified list of candidates to fill the Property Valuation Services Panel for short- and medium-term engagements to assist the Sydney Metro property team meet project peaks.

Sydney Metro anticipates a demand for a range of property valuation services to meet the requirements of the property acquisition program, property reporting and property financial reporting across all Sydney Metro projects and any future Sydney Metro projects.

Suitable suppliers will be requested to nominate for property valuation category types that match their area of expertise across the following five categories:

1. Category 1 - Just Terms (Just Terms Compensation) Act – To undertake property valuation (freehold or leasehold) compensation assessments in relation to the Land Acquisition (Just Terms Compensation) Act 1991, across a wide range of property classes (i.e. residential, commercial, industrial, development sites etc.).

2. Category 2 - Development & Divestment – To undertake property valuations for proposed developments and surplus land sales, including gross realisations, discounted cash flows and residual land values supported with commentaries and recommendations.

3. Category 3 - Financial Reporting - To undertake property valuations for finance reporting purposes, in accordance with Australian Accounting Standards, AASB 13 Fair Value Measurement, AASB 1059 Service Concession Arrangements: Grantor and NSW Treasury Policy TPP21-09 Valuation of Physical Non-Current Assets at Fair Value

4. Category 4 - Market Research – To undertake valuation benchmarking/reporting across a wide range of property classes to support business case financial modelling and/or to inform market movements/expectations; and

5. Category 5 - Adjoining Owners - Adjoining Owner valuation report based on terms of the Sydney Metro pro-forma adjoining owner agreement and/or adjoining property easement. The report is to be undertaken in accordance with the Land Acquisition (Just Terms Compensation) Act,1991.

   Minimum Requirements

   Tenderers will be requested to satisfy the following minimum requirements as part of the anticipated Request for Tender.

   Minimum Requirement 1 - Corporate Experience

   The Tenderer must demonstrate its previous corporate experience in providing property valuation services for one of the categories (listed in section 1.2 of this RFT), for an infrastructure project with greater than $500 million in value during the last three (3) years; and

   Categories 1 (Just Terms Act) and 5 (Adjoining Owners)

   Minimum Requirement 2 – Key Personnel

   The Tenderer must nominate a principal / director to oversee the preparation of the property valuations who:
   

1. Has a demonstrated minimum of ten (10) years’ experience with Just Term property valuation experience including knowledge of recent relevant Just Terms Act court decisions; and

2. membership of one of either the Australian Valuers Institute, the Australian Property Institute (API) or the Royal Institute of Chartered Surveyors (RICS).
   

Category 2 (Development & Divestment)

Minimum Requirement 2 – Key Personnel

The Tenderer must nominate a principal / director to oversee the preparation of the valuation estimates who:

1. has a demonstrated minimum of ten (10) years’ experience in valuations of commercial, residential and hotel properties;

2. has had recent direct involvement in transactions comparable to the assessments of value to be undertaken; and

3. has demonstrated experience with government divestment procedures and practices.
   

Category 3 (Financial Reporting)

Minimum Requirement 2 – Key Personnel

The Tenderer must nominate a principal / director who has a demonstrated minimum of ten (10) years’ experience including performing revaluations of:

1. land and building assets using the market approach to meet financial (Statutory) reporting requirements; and

2. other property, plant and equipment assets using current replacement cost for financial (Statutory) reporting purposes.
   

Category 4 (Market Research)

Minimum Requirement 2 – Key Personnel

The Tenderer must be able to:

1. Nominate a dedicated in-house Market Research Team, who have demonstrated 5 years’ experience in undertaking detailed market research reports across a wide variety of property asset classes within the Sydney, NSW and national property markets, for private and/or public sector clients, and

2. Demonstrate access to a wide variety of reputable market research data and real estate licences/platforms, so to provide timely, accurate and up-to-date market research reports (including benchmarking).
   

Category 5 (Adjoining Owners)

Minimum Requirement 2 – Key Personnel

The Tenderer must nominate a principal / director who:

1. Has a demonstrated a minimum of ten (10) years’ experience with in Just Term property valuation experience including knowledge of recent relevant Just Terms Act court decisions; and

2. Membership of one of either the Australian Valuers Institute, the Australian Property Institute (API) or the Royal Institute of Chartered Surveyors (RICS).
   

NSW Regions: Cumberland/Prospect, Nepean, Northern Sydney, Inner West, South East Sydney, South West Sydney

Open Tenders - An invitation to tender by public advertisement with no restriction placed on who may tender. Tenderers will normally be required to demonstrate in their tender that they have the necessary skills, resources, experience, financial capacity, and in some cases licences, accreditations, etc., to fulfil the tender requirements.

Sydney Metro is restricting access to the Services Brief to relevant entities that it reasonably considers at its sole discretion are capable of being bona fide tenderers, whether in joint venture or independently. For access to the Service Brief Applicants must follow the instructions outlined in Appendix B (Services Brief) in the Request for Tender document.

The place of lodgment is via eTender webpage in the format specified in the Request for Tender document.

No