Sydney Metro advises that the upcoming Request for Tender associated with the Sydney Metro Property Valuation Services Panel is likely to be issued as an open tender in mid-January 2022.

This is an early notification only. Request for Tender documents are not currently available. Formal notification will occur if and when the Request for Tender is published on the NSW eTender platform, currently anticipated to be in mid-January 2022.

Sydney Metro reserve the right to:

a) not progress further in relation to this expected opportunity or

b) proceed in whole or in part with any aspect of this Sydney Metro Property Valuation Services Panel.

Sydney Metro anticipates a demand for a range of property valuation services to meet the requirements of the property acquisition program, property reporting and property financial reporting across all Sydney Metro projects and any future Sydney Metro projects.

Suitable suppliers will be requested to nominate for property valuation category types that match their area of expertise across the following five categories:

Category 1 - Just Terms Act – To undertake property valuation (freehold/leasehold/easements) compensation assessments in relation to the Land Acquisition (Just Terms Compensation) Act 1991, across a wide range of property classes (i.e. residential, commercial, industrial, development sites etc.)

Category 2 - Development & Divestment – To undertake property valuations for proposed developments and surplus land sales, including gross realisations, discounted cash flows, residual land values supported with commentaries and recommendations.

Category 3 - Financial Reporting - To undertake property valuations for financial reporting purposes, in accordance with Australian Accounting Standards, AASB 13 Fair Value Measurement, AASB 1059 Service Concession Arrangements: Grantor and NSW Treasury Policy TPP14-01 Valuation of Physical Non-Current Assets at Fair Value.

Category 4 - Market Research – To undertake valuation benchmarking/reporting across a wide range of property classes to support business case financial modelling and/or to inform market movements/expectations.

Category 5 - Adjoining Owners - Adjoining Owner valuation report based on terms of the Sydney Metro pro-forma adjoining owner agreement and/or adjoining property easement. The report is to be undertaken in accordance with the Land Acquisition (Just Terms Compensation) Act,1991