Structuring and Financing Commercial Property Developments

About

Property Markets all over the world are experiencing a much needed rebound from the carnage following the GFC. How can we ensure the revival that is currently seen in our property industry continues to bloom, and growth remains sustainable into the coming future?

Bright*Star’s property conferences for 2010 bring together some of the best thinkers from the trans-Tasman property industry to encourage discussions for growing and shaping our property market going into the future.

The Annual Structuring and Financing Commercial Property Conference focuses on development and funding criteria for property developers and investors, alongside insightful analyses of economic impacts on property industry and market trends for the future. We are covering the most crucial and topical issues including:

• Funding: What’s on the horizon and how can it be most profitably employed?
• Key updates: Regulatory issues and legislation for property developers and financial advisors
• Taxation: Associated Persons rules, GST and impacts of possible changes to Tax System
• Sustainability: Current concepts around Green buildings, building adaptation, and global comparisons
• Case studies: International and local examples of highly relevant and current topics

Our aim is to inform and encourage sustainable growth in the property development and property finance industry.

Whilst only one conference might be relevant to your role, don’t forget to share this information with your colleagues to take advantage of our special, one-time promotional opportunity! Share a ticket!   

Register 2 people from your organisation at the same time - either on the same conference OR one to each conference and the 2nd delegate registers at HALF price!

Agenda

Agenda: Day 1

8.30

Registration & Coffee

9.00

Opening remarks from the Chair

Ian Campbell, President, PROPERTY INSTITUTE OF NEW ZEALAND

9.10

NZ Commercial Property Market – Trends Analysis and Key Drivers

Analysing trends from the recent past, this session will identify key drivers for the commercial property market going forward. Get tips from the experts to help you obtain excellent returns from your commercial property investments.
• Global property overview and the NZ industry
• Growth trends – what should we focus on?
• Developments that thrived and why
• Way forward for the industry as a whole
• Creating better property markets

Alan McMahon, Director, COLLIERS INTERNATIONAL

10.00

Economist’s Perspective on NZ’s Commercial Property

GFC, NZ Economy, APAC region, GDP trends – what are the implications for the NZ commercial property industry? What does the near future hold in stock? This is not crystal ball gazing – economic trends to know what to expect from the near future.
• Government policies – direct and related impacts in commercial property market
• Shifting economic landscape – macro and micro economic factors
• View of the wider economic scenario
• Impacts of GFC on supply and demand in commercial property
• How long to full recovery – macro predictions

Philip Borkin, Economist, GOLDMAN SACHS JBWERE (NZ)

10.50

Morning tea

11.10

Keynote Address: Insider’s Look Into Commercial Property Financing – What Do Banks Want?

Property industry the world over has taken a beating and the banks are being cautious, resulting in implications on their funding criteria. This session by BNZ will address the latest developments in financing trends crucial for commercial property developers and investors.
• Key drivers for commercial property financing
• Criteria for funding developments and investments
• Key factors in risk analysis – high level view of what banks are cautious about
• Management, construction and settlement risks

Senior representative from BNZ

12.00

Legal Update: Commercial Property Law

It is crucial for property developers and investors to remain fully informed on legal issues surrounding the property industry. Hear from the experts on issues including:
• Latest update on property legislation & laws
• Planning, funding & construction
• Current topical legal issues

Emma Tonkin, Senior Associate, KENSINGTON SWAN

12.45

Lunch

1.45

Tax Update for Commercial Property Developers

The new ‘Associated Persons’ rules have been with us since October 2009.  This session will provide a practical update on the rules and available structuring options for developers. Bill Hale will also cover any tax impacts from changes announced in the May 2010 budget, and provide an update on recent tax case law involving property developers.

Bill Hale, Partner, DELOITTE

2.30

Trading Places – It’s All About Trust!

Despite the often confrontational “us and them” nature of managing our way through the complex development process as either an applicant, a regulator, an investor or a developer there has been compelling evidence of the benefits of communities, developers and Councils working together to create world class commercial and socially enriching landscapes. This presentation looks at the success stories both in NZ and Internationally, gives personal insights from experience in both the public and private sector into some of the key tools that have led to success and asks the critical question: How can developers, communities, Councils and Government’s work together far more collaboratively to ensure that our built environments create commercial landscapes that are well designed, economically sustainable over time and leave a lasting civic legacy for the next generation?

Ludo Campbell-Reid, Urban Design Group Manager and Design Champion, AUCKLAND CITY COUNCIL

3.15

Afternoon tea

3.30

Case Study: Coping with the Changes in the Industry

Constantly changing external and internal factors – economic, legal, political and financial – make the property industry a dynamic environment. It is crucial for players in this industry to have strategies in place to tackle various challenges that one may have to face. Hear about key issues Mark faced in the recent past and how this has impacted on:
• New funding sources - where they came from
• Optimal employment of new finance structures
• Adapting to suit the current landscape

Mark Petersen, Director, HELSINGOR PROPERTY

4.15

Goodwill Value in the Context of Development Assets and Indirect Tax Issues for Commercial Property

This session will cover ‘goodwill’ in the context of the value of development assets and important GST changes impacting property transactions.  It will cover:
• Does goodwill exist with respect to development assets?
• How should goodwill be treated if it does exist, and what does this mean for developers and financiers?
• The ramifications of the anticipated increase to the GST rate
• GST cashflow issues and the proposed new GST rules for property transactions and nominations
• Inland Revenue’s current position and activity on GST, property and mortgage sales

Paul Smith, Executive Director – Indirect Tax, ERNST & YOUNG
John Holmes, Senior Manager – Transaction Real Estate, ERNST & YOUNG

5.00

Panel Discussion: Key Issues in Acquiring Finance

This interactive panel will explore the criteria for acquiring finance for property development and investment. Come prepared to discuss key issues you have faced and learn from how your peers are coping.
• Where is the money coming from?
• New sources of funding
• Simplifying financial vehicles
• Managing changing relationships
- Financers, developers & investor relationships
- Property owners and property managers
• Maintaining transparency for consistent performance
• Proactively driving property market development

Ian Campbell, President, PROPERTY INSTITUTE OF NEW ZEALAND
Mark Petersen, Director, HELSINGOR PROPERTY
Antony Gough, Managing Director, HEREFORD HOLDINGS

5.30

End of Day 1 and Networking Drinks

Agenda: Day 2

9.00

Welcome Back from the Chair

Ian Campbell, President, PROPERTY INSTITUTE OF NEW ZEALAND

9.05

International Keynote: Comparative Profiling - Political Landscape and Industry Policies in Australia and NZ and their Impacts on the Property Industry

Demographic changes are leading to changes in ways in which people work, interact and consume. Political landscape and government policies will further impact on industry scenarios and influence property development and investment decisions.
• The role of government policy in creating property hot spots
• Potential changes in public policies and their impacts on property
• Innovative policies for positive impacts and future growth

Richard Reed, Professor, DEAKIN UNIVERSITY

9.50

Green Buildings – How Sustainable Is the Concept

Have we given sustainable buildings the green light? What should the property market expect in terms of future environmental requirements? What are the measurement models and tools in place, how are they performing, and most importantly what is the value of retrofitting existing buildings and in creating new green buildings?

Alan Barbour, Technical Director, BECA
Sara Wilkinson, Lecturer, DEAKIN UNIVERSITY

11.00

Morning tea

11.20

“Ducks in a Row”: Meeting Council Regulatory Requirements

What does the property development industry think of development contribution? Is this causing an undue burden on the industry and adding to current woes? How do the RMA and Building Act affect developers? This session will cover regulatory requirements in depth for developers and other members of the property industry.

Malcolm Maclean, Partner, GLAISTER ENNOR

12.00

International Case Study: Lessons from Across the Ditch: How the Property Market Changed in Australia Post-GFC

• What sectors declined first, what held up best?
• What has recovered first?
• Change in the typical buyer – listed fund to private buyer
• Outlook for the near future – what to expect

Richard Reed, Professor, DEAKIN UNIVERSITY

12.45

Lunch

1.45

Legal Update: Financial Adviser Regime

In December a new financial adviser regime will come into force, placing significant obligations on those caught by the legislation (the Financial Advisers Act and the Financial Service Providers [Registration and Dispute Resolution] Act).  This will impact on a wide group, including financial advisers, banks, finance companies, insurance companies and brokers, consumer finance providers and other financial service providers. This session will provide an overview of and background to the regime (including its ambit) and outline the obligations of those required to comply.

Maria Taylor, Senior Associate, KENSINGTON SWAN

2.30

Case Study: Partnering for Success in the Face of a Storm

Breaking new ground and successfully redeveloping a commercial property – in a recession – takes more than just guts. This case study addresses how Russley Hotel in Christchurch is being turned into a retirement village, and the company owning the old hotel is buying a commercial property. Hear most interesting aspects of how this was done over the recent past, and the tax implications of this unusual mix which have turned this gutsy venture into real gains – despite the property market downturn.
• Importance of finding the ‘right’ business partner
• New rules of borrowing and obtaining funding
• Mixing hotel, retirement village and CBD property to the best advantage
• Pains and gains, and learning in the process

Antony Gough, Managing Director, HEREFORD HOLDINGS

3.15

Afternoon tea

3.30

International Case Study: Using Building Adaptation to Deliver Sustainability

In the attempt to mitigate climate change and global warming, there is an increasing realisation that large scale programmes adapting existing buildings is a viable means of reducing building related greenhouse gas emissions. Buildings contribute around half of all greenhouse gas emissions, and Australian offices alone account for 12% of all greenhouse gas emissions. Melbourne has launched the 1,200 building programme which aims to refurbish 1,200 CBD properties as part of their policy to become carbon neutral by 2020. This case study will highlight a number of issues that were addressed including:
• Which buildings are most suitable for adaptation?
• What are the lessons from previous building adaptation?
• Which buildings are most likely to undergo adaptation?
• What is best practice in sustainable adaptation?

Sara Wilkinson, Lecturer, DEAKIN UNIVERSITY

4.15

Case Study: Maximise Your Potential for Success in Commercial Property Development

Why are certain developers and investors successful, whilst others are not in the same market conditions? Rustica will share with you, her very personal story, of the highs and lows of her property journey in the last ten years, and what seven mindset techniques helped and what hindered. Learn to prepare yourself and your team to cope and thrive with what ever happens in your developing and investing career, no matter where you are today.

Rustica Lamb, Director, PROPERTY EDUCATION CENTRE

5.00

Summary Remarks from the Chair and Close of Conference

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