In 2017, Fresh Hope Care engaged EPM to undertake a review of its property portfolio, consisting of 12 Retirement Living and Aged Care sites across NSW. The scope of the review included a qualitative assessment as well as a quantitative assessment of financial performance. Following review and prioritisation of the sites, the development potential was assessed through a planning perspective and feasibility modelling. Where appropriate, the highest and best use was also considered. The output of the review is a portfolio Master Plan outlining the scope, budget and timing for the redevelopment of the portfolio.
As part of EPM’s review, EPM Planning advised on a wide range of development options for the respective sites, including intensification of the existing seniors housing uses, development of affordable housing, rezoning, breaching Council development standards, and existing use rights. The advice addressed both the avoidance of pitfalls in the planning system and opportunities to potentially increase development yields.