Thursday, June 13, 2024

BDO launches Perth infrastructure practice with housing focus

Must read

BDO has opened a project and infrastructure advisory practice in Perth focusing on real estate services as governments turn away from big four firms to the mid-market for help with meeting housing demand.

The national project and infrastructure advisory practice group was established in 2020 and has over 120 staff across the country. The newest Perth arm will be the only practice located outside of the country’s east coast.

John Burger, who leads the WA team, said it was important to establish a dedicated team in Perth with an understanding of the “unique” local market. “To be able to operate effectively in any real estate advisory capacity in WA, you need a local understanding of the market.”

“The approach to WA government should be Perth-centric and WA solutions focussed – not just a copycat response,” he said.

Burger said he expected the team of three to grow rapidly as the government ramped up its infrastructure projects, such as building more social and affordable housing, to meet demand in the state.

“The pressure on housing affordability will continue to intensify into the medium term, placing additional pressure on our economy, particularly if we don’t have adequate housing infrastructure and choice.”

“This has led some developers down the avenue of social and affordable housing, where state and federal governments are now subsidising projects to help increase housing supply.”

The team had a 60-40 split between public and private client work, he said, with a focus on real estate advisory in addition to traditional services such as business case, feasibility and financial modelling and options analysis work.

Government increasingly had an “appetite to work with firms that are not the big four at the moment” and private property developers were taking up more social housing projects after the introduction of build-to-rent disrupted traditional housing delivery.

“We’re integrating a real estate advisory service offering that sits and complements traditional infrastructure offering,” he said.

“The major infrastructure issues governments are grappling with at the moment are mainly around housing, and there’s a very strong correlation between infrastructure and real estate in terms of precinct building and understanding how to accelerate or structure the delivery of new housing whether it be market housing or social affordable housing.”

Latest article