Napier & Blakeley

🎄HAPPY HOLIDAYS – 2024 IN REVIEW Over our 39 years, so far in business, we’ve had some interesting years, and 2024 was no exception! The last few years have been difficult to predict in the construction and property markets. Despite the availability of capital in the investment markets, and significant demand for residential and other development, transaction levels were down, and cost of development still proves a challenge nationally. Despite lower transaction volumes, Napier & Blakeley delivered Technical Due Diligence on over 350 major deals, including Westpoint Shopping Centre, Bannisters Hotel portfolio, 367 Collins Street, to name but a few. Sydney’s commercial CBD office market gained momentum, with notable projects like 333 George Street.  This year saw strong demand for asset management services, including asset planning, capex forecasting, repositioning and existing condition audits. We provided construction and development advisory services to over 1,000 projects, and Tax Depreciation and lease turnover assessments also rose significantly.  A big thank you to our clients, team, and industry partners for their continued support and trust. We welcomed 20 new team members in 2024 and proudly supported several industry events, and charities such as Starlight Children’s Foundation and Property Industry Foundation. Wishing you all the best for the holiday season, and we’re looking forward to a robust and successful 2025, and to our 40th birthday. 🏢Please note: our offices will close from 20 December 2024 and reopen on 8 January 2025. On behalf of everyone at Napier & Blakeley, we wish you a joyful festive season and a successful 2025!🎄 For 39 years Napier & Blakeley have been providing services to the property industry including Quantity Surveying, Property Acquisition & Disposal Technical Due Diligence, Property Development Due Diligence, Capital Expenditure Forecasting, Make Good Reporting, Sustainability Reviews and Energy Management, Development Monitoring and Property Tax Depreciation. To discuss any of our services, please contact us at info@napierblakeley.com or any of our following offices: 🏢SYDNEY, 20 Hunter St, P+61 2 9299 1899 🏢MELBOURNE, 171 Collins St, P +61 3 9915 6300 🏢BRISBANE, 120 Edward St, P +61 7 3221 8255 🏢PERTH, 267 St Georges Terrace, West Perth, P +61 8 6244 1877 🏢ADELAIDE, 213 Greenhill Road, Eastwood, P +61 8 8274 3760 🏢AUCKLAND, 50 Albert St, P +64 3 588 0299 🏢CHRISTCHURCH, 1, Awly Building, 287-293 Durham Street, P +64 3 588 0299 🏢SINGAPORE, 30, Six Battery Road, P +65 6550 9642 #napierblakely #quantitysurveying #propertyacquisition #technicalduediligence #capitalexpenditure #energymanagment #propertytax #depreciation

Our congratulations to Gavin Peach on becoming a Director of Napier & Blakeley. Gavin joined Napier & Blakeley back in 2007 and is now a highly trusted advisor to our clients. He has worked nationally and internationally providing services to owners and managers, who require Development Monitoring, Technical Due Diligence, Building Condition Reports, Capital & Maintenance Expenditure Forecasts, and lease expiry Make Good advice, across all asset classes. As all our services are integrated, Gavin works closely with our national Building Consulting team, and our Quantity Surveying, Tax Depreciation, Insurance, Sustainability, Climate & ESG teams so our clients can make informed commercial decisions about the physical risks, current and future costs and opportunities across their property investments and portfolios. Please contact Gavin for any Building Consulting advice in Queensland and the Northern Territory on PH: 07 321 8255 or m: 0412 225 781 or e: gpeach@napierblakeley.com #appointments #careers #recruitment #quantitysurveying #napierblakeley #queensland #northernterriotory

Property Council of Australia’s Committee Appointments 2025/26   We're thrilled to announce the appointment of three of our Napier & Blakeley team members to the Property Council of Australia's committees for 2025/26, showcasing their leadership and commitment to shaping the future of our industry. Firstly, we acknowledge Katrina Richardson’s outstanding industry contribution with her re-election to the NSW Capital Markets Committee. After six years as Chair, Katrina is stepping down but will continue offering her expertise to the committee. Representing Queensland, Rachel Brook has been re-elected to the Sunshine Coast Committee and looks forward to exploring opportunities such as the new Maroochydore CBD and 2032 Olympics venues. Also, we’re excited to see John Atkins achieve his first appointment as a member of the Build to Rent Committee in Victoria. We're looking forward to watching John’s progress in this vital sector. Join us in congratulating Katrina, Rachel and John on these well-deserved appointments! We’re proud of the incredible work they’re doing to drive positive change across the property sector. #NapierBlakeley #Leadership #PropertyCouncilAustralia #BuildToRent #CapitalMarkets #SunshineCoast #IndustryLeaders #quantitysurveying

The annual Core Property Research Property Funds Forum is always a standout in our Napier & Blakeley calendar, and this year we were thrilled to sponsor the event held at the stunning Heritage Hotel in Queenstown, New Zealand. Representing Napier & Blakeley were Nicolas Mules, Gordon Dalgleish and Coco Williams who took full advantage of the opportunity to broaden their insights into the ever-evolving property market while networking with industry peers. Nic also had the pleasure of welcoming delegates during the opening ceremony, setting the scene for an excellent conference. Delegates enjoyed a diverse line-up of expert speakers covering key topics like emerging trends across sectors, regulatory shifts, retail markets, valuations, and capital raising. The atmosphere was upbeat, with optimism around the future of the Australian property market—particularly with interest rates expected to potentially drop as early as February next year and associated interest from overseas investors. A massive thank you to Core Property Research for hosting yet another engaging and insightful conference. Congratulations to Castlerock and Charter Hall for winning Core Property's Unlisted and Listed Property Fund of the Year awards, respectively. Both awards are very well-deserved! We look forward to participating again in 2025. Enjoy the video highlights. Core Property Research Charter Hall Castlerock Property #napierblakeley #propertyinvestment #commercialproperties #finance #marketevaluations #propertymarkettrends

Napier & Blakeley are proud of our long-term affiliation with the PCA NSW Capital Breakfast Seminar series. The final event for this year, Deals, Dispositions & Debt 2024: Looking to 2025, delivered plenty of interesting discussions and insightful observations.   Here are some key points gleaned from the event by Nicolas Mules, Senior Associate at Napier & Blakeley: 1. Stabilisation of interest rates and inflation is boosting market confidence, with a positive outlook for increased transactions in the first half of 2025. 2. Development costs remain a challenge, but alternative asset classes such as Purpose-Built Student Accommodation (PBSA) and data centres continue to attract investor and fund manager interest. 3. Well-positioned office spaces are expected to remain appealing to investors. 4. Grade B and C office spaces are likely to present repositioning and redevelopment opportunities.   Napier & Blakeley offer trusted advice to help clients maximise the return on their commercial assets. If you’re considering acquiring, divesting or repositioning your commercial property, please contact our team. Steven McCormack MRICS | 0407 892 290 |McCormack@napierblakeley.com Gavin Peach Associate Director | 0412 225 781 | gpeach@napierblakeley.com Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com Sam Grindley, Senior Associate | 0460 032 142 | sgrindley@napierblakeley.com Nicolas Mules, Senior Associate | 02 9299 1899   p. 02 8113 7115 m.  0460 031 558   | e. nmules@napierblakeley.com Micheal O'Gorman MRICS, Associate  | m.  086 272 9246   e. mogorman@napierblakeley.com Daniel Small  Director  |Napier & Blakeley NZ |  m. +64 204 936 595  e. dsmall@napierblakeley.com Property Council of Australia Property Council NSW #napierblakeley #capitalmarkets #commercialproperties #investments

Thank you to the Property Funds Association for organising another outstanding Women's Networking Lunch, hosted by Abi Chellapen of SW Accountants & Advisors in Melbourne, last week.   Coco Williams, N&B’s National Head of Client Services, attended the event which featured a special guest speaker, Anita Young, CEO of Ark Capital Funds.   Here’s what Coco had to say about the event: “I thoroughly enjoyed the lunch, especially the opportunity to connect with so many talented, like-minded women. Anita shared powerful insights into the challenges she’s faced in her career, including how she’s navigated the complexities of achieving work-life balance. It’s inspiring to see more women breaking barriers and truly making an impact.”   At N&B we’re committed to providing equal opportunities for all our staff to become the best in their field and deliver value for our clients.   We look forward to the next PFA event and the chance to connect with more professionals in the property and construction sectors! Property Funds Association of Australia #napierblakeley #propertyinvestments #commercialproperties #finance

We're proud to share our latest Construction Cost Datacards, continuing our 25-year tradition of providing valuable industry insights. This year, we've observed significant trends across both Australia and New Zealand: AUSTRALIA ☑Non-residential building approvals have dropped significantly, while residential approvals have stabilised and show a slight uptick. ☑Western Australia stands out with strong growth in building approvals, while other states face declines. ☑Material price risks have eased, but labour shortages remain a concern in some markets. NEW ZEALAND ☑New dwelling consents have seen a notable decline, especially in Wellington showing a drop of 41%. ☑Approvals for social, cultural, and religious buildings have surged by 65.1%. ☑Overall, forecast for construction cost increases for the 2024/2025 financial year is 3-4%. Our Napier & Bakeley team is committed to providing our clients with the latest data to protect their assets and make informed decisions in evolving markets. To receive your set of datacards or to enquire about our N&B services contact our team: MELBOURNE Rob Howells, Managing Director | 0437 649 082 | rhowells@napierblakeley.com Peter Frith, Director | 0437 649 082 | pfrith@napierblakeley.com Craig Smith, Director | 0407 371 664 | csmith@napierblakeley.com Ian Gardner, Director | 0488 225 569 | igardner@napierblakeley.com John Atkins, Director | 0456 644 052 | jatkins@napierblakeley.com Steven McCormack MRICS | 0407 892 290 | SMcCormack@napierblakeley.com SYDNEY Alastair Walker, Director | 0419 503 289 | awalker@napierblakeley.com Peter Hammond, Director | 0419 980 901 | phammond@napierblakeley.com Michael Ross, National Head of Tax | 0403 841 175 | mross@napierblakeley.com Stephen Cooke, Associate Director | 0409 228 552 | scooke@napierblakeley.com BRISBANE Paul Cosker, Director | 0434 400 107 | pcosker@napierblakeley.com Adam Shirt, Director | 0408 100 623 | ashirt@napierblakeley.com Gavin Peach, Associate Director | 0412 225 781 | gpeach@napierblakeley.com Gordon Dalgleish, Associate | 0459 999 691   | gdalgleish@napierblakeley.com PERTH Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com Scott Muirden, Director | 0450 393 099 | smuirden@napierblakeley.com ADELAIDE Sam Grindley, Senior Associate | 0460 032 142 | sgrindley@napierblakeley.com NEW ZEALAND Daniel Small |  Director  |  Napier & Blakeley NZ Pty Ltd ATF Napier & Blakeley NZ Unit Trust m. +64 204 936 595  e.  dsmall@napierblakeley.com      #napierblakeley #datacards #propertyinvestment #quantitysurveyors #commercialproperties

We're proud to share our latest Construction Cost Datacards, continuing our 25-year tradition of providing valuable industry insights. This year, we've observed significant trends across both Australia and New Zealand: AUSTRALIA ☑Non-residential building approvals have dropped significantly, while residential approvals have stabilised and show a slight uptick. ☑Western Australia stands out with strong growth in building approvals, while other states face declines. ☑Material price risks have eased, but labour shortages remain a concern in some markets. NEW ZEALAND ☑New dwelling consents have seen a notable decline, especially in Wellington showing a drop of 41%. ☑Approvals for social, cultural, and religious buildings have surged by 65.1%. ☑Overall, forecast for construction cost increases for the 2024/2025 financial year is 3-4%. Our Napier & Bakeley team is committed to providing our clients with the latest data to protect their assets and make informed decisions in evolving markets. To receive your set of datacards or to enquire about our N&B services contact our team: MELBOURNE Rob Howells, Managing Director | 0437 649 082 | rhowells@napierblakeley.com Peter Frith, Director | 0437 649 082 | pfrith@napierblakeley.com Craig Smith, Director | 0407 371 664 | csmith@napierblakeley.com Ian Gardner, Director | 0488 225 569 | igardner@napierblakeley.com John Atkins, Director | 0456 644 052 | jatkins@napierblakeley.com Steven McCormack MRICS | 0407 892 290 | SMcCormack@napierblakeley.com SYDNEY Alastair Walker, Director | 0419 503 289 | awalker@napierblakeley.com Peter Hammond, Director | 0419 980 901 | phammond@napierblakeley.com Michael Ross, National Head of Tax | 0403 841 175 | mross@napierblakeley.com Stephen Cooke, Associate Director | 0409 228 552 | scooke@napierblakeley.com BRISBANE Paul Cosker, Director | 0434 400 107 | pcosker@napierblakeley.com Adam Shirt, Director | 0408 100 623 | ashirt@napierblakeley.com Gavin Peach, Associate Director | 0412 225 781 | gpeach@napierblakeley.com Gordon Dalgleish, Associate | 0459 999 691   | gdalgleish@napierblakeley.com PERTH Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com Scott Muirden, Director | 0450 393 099 | smuirden@napierblakeley.com ADELAIDE Sam Grindley, Senior Associate | 0460 032 142 | sgrindley@napierblakeley.com NEW ZEALAND Daniel Small |  Director  |  Napier & Blakeley NZ Pty Ltd ATF Napier & Blakeley NZ Unit Trust m. +64 204 936 595  e.  dsmall@napierblakeley.com      #napierblakeley #datacards #propertyinvestment #quantitysurveyors #commercialproperties

The popular Napier & Blakeley Cadet Program for 2024/2025 is underway with three new cadets ready to gain valuable skills and knowledge in the property and construction industry.    Congratulations to our talented cadets: Zachary Brown from the Queensland University of Technology (QUT), Deep Batra from the University of New South Wales (UNSW), and Matthew Radonich from Deakin University.   Throughout the program, our Cadets will gain practical experience in key areas, including Quantity Surveying, Tax Depreciation, Building Consulting, Sustainability, ESG, and Climate Risk. This immersive approach allows them to apply their academic knowledge to real-world projects, building a solid foundation for their future careers. Our 2024/2025 cadets will be based in our offices in Melbourne, Sydney and Brisbane.   Here are a few words from Neha Goel N&B HR Manager, “We are thrilled to welcome Zachary, Deep, and Matthew to our Cadet Program. This initiative is an essential part of our ongoing commitment to developing young talent and creating pathways into the industry. We’re confident they will contribute significantly and grow into successful professionals during their time with us.”   Zachary Brown, one of our new cadets, shares, “Since I joined Napier & Blakeley, everyone has been incredibly welcoming, and I’ve learned so much. It’s been a fantastic experience so far.”   Please join us in making them all feel welcome. We look forward to watching their progress and making their mark over the coming years.   Interested in joining our Cadet Program and furthering your career? Contact Neha Goel at hr@napierblakeley.com.au #napierblakeley #quantitysurveyors #cadets #property #constuction #cadeprogram #Brisbane #Sydney #Melbourne

A big shoutout to the Property Industry Foundation for hosting another fantastic Toiletry Wrap Day! The event, kindly hosted by Pitcher Partners, saw 120 dedicated property professionals come together to create 750 care packages for The Salvation Army Australia, supporting vulnerable members of our community.   Special thanks to our Napier & Blakeley team members, Ashley Poingdestre MRICS and Matthew Radonich, for their incredible contributions. It was a day filled with camaraderie, while making a meaningful impact.   If you want to learn how to support vulnerable youths, visit the PIF website for more information. – www.pif.com.au. #napierblakeley #propertyindustry #givingback #youthhomeless #charities