Bundha Sports Centre

Bundha Sports Centre

Bundha Sports Centre

Client

Sport and Recreation Victoria

Project Capital Cost

$54.5 million

Project Purpose

Bundha Sports Centre, constructed on the Fitzroy Gasworks site, is Australia’s first multi-level community indoor court facility. The centre comprises four courts for competition-level basketball, netball, and volleyball; a multi-purpose court for futsal; a gymnasium; a program/meeting room; a café and lounge area; community facilities; all gender change rooms; a foyer and reception area.

Otium was appointed by Sport and Recreation Victoria to undertake numerous stages of the project.

Otium’s Role

  • Preparation of the Feasibility Study.
  • Preparation of the Business Case.
  • Preparation of the Facility Operating Model including detailed financial modelling.
  • Review of the Management options.
  • Completed market sounding with external management companies.
  • Development of the operating agreement and tender documentation for the external lease arrangement.
  • Coordination of the development of a 20-year Capital Replacement and Maintenance Plan.
  • Assistance with the Tender Evaluation Process.

 

Project Outcomes

Successful appointment of a long-term venue manager, Clublinks.

Project Challenges/Key Learnings

  • Funded via Development Victoria, but local authority declined the option to manage the facility.
  • First sport facility contract arrangement for Victorian State Government. Other state facilities managed under State Sports Trust (separate statutory body).
  • Development of an integrated school (Education Department) and community sports facility (Sport and Recreation Victoria).
  • Development of a multi-use facility on small footprint.

Community Benefits

  • The first publicly accessible vertical sports centre in Australia.
  • The venue will support local sports clubs and encourage more of the community to get active.
Financial Modelling for WAVES Fitness and Aquatic Centre

Financial Modelling for WAVES Fitness and Aquatic Centre

Financial Modelling for WAVES Fitness and Aquatic Centre

Client

The Hills Shire Council (NSW)

Project Purpose

To review and update Financial Modelling for WAVES Fitness and Aquatic Centre.

Otium’s Role

  • Compare the current financial performance of WAVES to the original financial operating model for WAVES and identify key reasons for any variations.
  • Preparation of a 10-year financial model identifying operating revenue, costs and attendance using:
    • Current actuals from the Centre and forecast trends.
    • Catchment population forecasts.

Project Outcomes

Future projections to assist Council understand strategic need for further facilities and long-term financial planning.

Project Challenges/Key Learnings

  • Operational decisions that differ from financial model assumptions create variances.
  • Use of existing financial actuals to inform future trends is helpful to revise models post-opening.

Community Benefits

Ongoing health, social and economic benefits from use of WAVES.