❓ A WA parliamentary question regarding the Amble Estate development, covering lot sales, expenditure, ROI, sales projections, and the solar power initiative, with detailed answers provided by the responsible department.
AnsweredQoN 2981Legislative Assembly
QuestionView source ↗
I refer to the Amble Estate development, and ask: (a) to date, how many lots have been sold, what is their lot number and sale price; (b) what is the breakdown of expenditure spent by the department in developing the estate; (c) what is the estimated Return on Investment (ROI) for the department; (d) what is the projected sales (monthly, annually etc.) for the estate; and (e) with respect to the 'Solar Power Initiative': (i) what is the expected cost to the department, if any, for installing these systems; and (ii) what was the process which saw Infinite Energy get the estate-wide solar system contract, what is the estimated value of the contract and who decided they would receive the contract?
AnswerView source ↗
Answered
10 May 2018
Responded by
Minister for Housing; Veterans Issues; Youth
Response time
5 days
(a) No lots have sold and settled to date, as titles for Stage 1 lots are not anticipated to issue until July/August 2018. However, following a marketing launch for the project on 24 March 2018, the following lots are under contract as at 23 April 2018:
Lot Number
Sale Price
101
$220,000
102
$183,000
106
$200,000
108
$200,000
111
$161,000
118
$182,000
119
$200,000
122
$200,000
124
$200,000
125
$210,000
129
$200,000
130
$200,000
(b) The estimated total project expenditure and breakdown for the five year duration of the project is:
Cost
Amount
Land Value and Acquisition
$6.774m
Professional Fees
$1.846m
Development/Construction
$9.153m
Statutory Fees
$0.890m
Miscellaneous Costs
$2.477m
Project Contingency
$0.674m
Borrowing Cost
$0.071m
Total Cost
$21.885m
(c) The Department of Communities is targeting a Return on Investment of just over 20%
(d) Projected Lot Sales (Settlements)
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Total
2017-18
Nil
2018-19
16
4
4
4
5
3
4
4
4
4
52
2019-20
4
4
4
4
4
6
6
4
4
2
42
(e)(i) The Department will contribute $1,000 per lot to the cost of the Solar Power Initiative. Some solar system installations may require additional modifications, e.g. the provision of tilt frames for panels due to dwelling orientation. The Department will also cover these costs.
(ii) The Department received a proposal from Infinite Energy (facilitated by the Project Manager, Yolk Property Group Pty Ltd / Ventura Home Group Pty Ltd). The proposal was accepted by the Department and involves a pilot project to trial the introduction of Solar Power Purchase Agreements at “The Amble Estate”. This is the first time power purchase agreement arrangements are to be rolled out across a green title residential development in Western Australia.
The estimated value of the contract is between $95,000 and $125,000 inclusive of GST.
The appointment of Infinite Energy was approved by an authorised delegate in accordance with the agency’s Delegation of Authority Register.
Lot Number
Sale Price
101
$220,000
102
$183,000
106
$200,000
108
$200,000
111
$161,000
118
$182,000
119
$200,000
122
$200,000
124
$200,000
125
$210,000
129
$200,000
130
$200,000
(b) The estimated total project expenditure and breakdown for the five year duration of the project is:
Cost
Amount
Land Value and Acquisition
$6.774m
Professional Fees
$1.846m
Development/Construction
$9.153m
Statutory Fees
$0.890m
Miscellaneous Costs
$2.477m
Project Contingency
$0.674m
Borrowing Cost
$0.071m
Total Cost
$21.885m
(c) The Department of Communities is targeting a Return on Investment of just over 20%
(d) Projected Lot Sales (Settlements)
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Total
2017-18
Nil
2018-19
16
4
4
4
5
3
4
4
4
4
52
2019-20
4
4
4
4
4
6
6
4
4
2
42
(e)(i) The Department will contribute $1,000 per lot to the cost of the Solar Power Initiative. Some solar system installations may require additional modifications, e.g. the provision of tilt frames for panels due to dwelling orientation. The Department will also cover these costs.
(ii) The Department received a proposal from Infinite Energy (facilitated by the Project Manager, Yolk Property Group Pty Ltd / Ventura Home Group Pty Ltd). The proposal was accepted by the Department and involves a pilot project to trial the introduction of Solar Power Purchase Agreements at “The Amble Estate”. This is the first time power purchase agreement arrangements are to be rolled out across a green title residential development in Western Australia.
The estimated value of the contract is between $95,000 and $125,000 inclusive of GST.
The appointment of Infinite Energy was approved by an authorised delegate in accordance with the agency’s Delegation of Authority Register.
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