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Christiana Capital Group

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Mail to: 603 / 4 Young Street
Neutral Bay 2089
NSW AU
Tel (02) 9944 3395
Fax (02) 9925 0541

Due diligence - development and construction industry

Christiana Capital undertakes due diligence and provides a range of prudential services for projects of various types in a number of industries. Examples of prior and current projects undertaken by Christiana personnel in the construction and property development industries include:

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Conducted detailed review of all aspects of this $1.4 billion (construction cost) project for the financier following developer default on $100 million loan facility. Review included project feasibility, contractual relationships with consultants, contractors and State Rail Authority, existing staffing and infrastructure, assessment of likely value and loan exposure, and options for loan recovery.

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Carried out review of all construction components of the project, a mixed use commercial/retail complex with 100+ specialty shops (8,307 m2), public spaces, multi-storey commercial offices (35,495 m2) and 497 carspaces. Review included cost/program, planning, contract relationships, consultancies and design/construction risk. Report to client recommended against adopting developer time and cost estimates. Report conclusions subsequently proven correct.

Click here for more photos of this project

Carried out review of this 296-room hotel project for the financier, following financial difficulties experienced by developer. The project included both indoor and outdoor swimming pools, spa, steam room, gymnasium and day spa, restaurants, bars and 11 meeting rooms accommodating up to 550 delegates. This is now the Novotel at Brighton-Le-Sands in NSW. Click herefor more photos of this project

Click here to view photos during construction

Project review and monitoring services for this extensive refurbishment, alterations and additions to a block of home units in Bondi NSW, completed in August 2009. Private development company and architect-administered fixed-price building contract.Click herefor photos during construction.

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Navutu Tax Free Zone, Fiji - 80 hectare, 186,000 m2 (building area) industrial subdivision due diligence for the World Bank’s International Finance Corporation.

Other work in Fiji has included business analysis and business plans for redevelopment and funding of existing furniture manufacturing business servicing Australian markets for IKEA. Advised owners on development and expansion of both their premises and business.

Click here for more information

Advised Bank in its purchase of the first three office buildings within this complex in Canberra, purchased prior to completion. Reviewed all project documentation and advised Bank on adequacy of documents and control procedures to monitor completion. Acted as auditor for Bank throughout completion process and through to conclusion of defects liability period. Provided similar advice to Bank on CBS Centre in role similar to National Convention Centre on a project more substantially complete. Click here for more information.

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Due diligence and advisory services for funder following default by developer on loan repayment in 2005. Assignment included review of 200+ existing units under construction in the greater Sydney area (or in the approval process) to determine status of each project, realistic disposal options and potential avenues for recovery of loan monies.

Other property-related due diligence activity includes:

Funds Management

Conducted prudential review of the property development and real estate management operations conducted by third-party Vendors for a $300 million managed investment fund – recommending structural and procedural changes to protect the interests of investors, funds manager and Directors of the funds management company.


Project Advisory to Institutional Lender

on a range of projects, including:

  • Mixed use project, Bellevue Hill ($ 36 million);
  • Office building, Artarmon ($ 33 million) - Click here for details;
  • Retirement Village, Lindfield ($ 30 million) - Click here for details;
  • Retirement Village, Strathfield ($ 33 million);
  • Panasonic Building, Terrey Hills ($ 60 million) - Click here for details;
  • Northbank Industrial Estate (rectification);
  • Engadine Court Shopping Centre (sundry advice); and
  • Ongoing role as project appraiser and project auditor.

Fitout Audit of Government Architects Branch

Supervised detailed audit of fitout performance and procedures for the Government Architect's Branch of the NSW Department of Public Works. This Branch conducted approximately six hundred (600) fitout operations per annum at that time. Brief required review of historical performance of mainstream projects together with recommendation as to the procedures and controls appropriate to reduce the cost of "dead rent" and other effects of delayed occupancy.

Asset divestment analysis

Prepared detailed feasibility analysis for major public company to appraise redevelopment/ disposal options for their Sydney CBD site. Analysis included "do nothing", develop and occupy, develop and partially occupy, and "quit site" scenarios. Review included analysis of staff demographics as well as design/construction options for existing premises, and recommended the outright sale of the site which ultimately took place.

Click hereto read more about Christiana's "Project rescue" and work-out services.

Click here to read more about Christiana's Project Management and Development Management activity.

Click here for details of Christiana's Due Diligence activities in other industries.