Lee Wharf

Newcastle, New South Wales

Sector:                      Residential, Commercial and Retail Mix

Client:                       Lee Wharf Developments

Current Status:         Complete

Project Value:           in excess of $150 Million

A new residential, retail and commercial development located on the boardwalk in the Honeysuckle Precinct, Newcastle. The waterfront project consists of four buildings comprising over 150 one, two and three bedroom apartments. The buildings range in height of four to eight levels over two basement car parks. The project also includes a number of retail shops and restaurants, corporate suites, extensive landscaping and external works.

The Lee Wharf Project has transformed this once redundant section of the Newcastle waterfront into a vibrant harbour side precinct that has become the place to live, work and play in Newcastle.

MERDEN Projects was engaged as Construction Managers on behalf of Lee Wharf Developments to manage the major contractors on the project and to assist with funding by the preferred Financier for the Project. This service included the provision of programming reviews and recommendations, monitoring of expenditure, review of design and construction, progress reporting, variation analysis of subcontractors, monthly financial draw downs, project and construction risk analysis

As additional part of the Construction Management services MERDEN Projects provided to the Sakkara and financier was the inspections of the completed apartment product against the Developer's Land Sale Contracts and the reporting of any non-compliance, if any.

The Project was successfully completed with all Pre-Sales settled and the Senior Debt repaid to the financier within the required parameters contained in the Senior Debt Finance Facility, and Lee Wharf Developments making their profit.