Innovista Group was engaged by Honestar Holdings Pty Ltd to provide development advisory and consulting services for a master-planned mixed-use project in Mernda. With a strong understanding of the client’s risk-averse approach from previous collaborations, Innovista worked closely to align the project with strategic goals. The comprehensive master plan included residential, retail, and commercial components aimed at creating a vibrant town center in one of Victoria’s fastest-growing suburbs.
Innovista provided Development Advisory, Due Diligence, Feasibility Studies, and Financial Modelling services. Leveraging deep market insight, Innovista guided the client through complex vendor negotiations. Despite initial enthusiasm, Innovista identified a misalignment between price expectations and market realities. Strategic analysis led to the recommendation to withdraw from the deal, mitigating potential financial risks. Innovista also collaborated with Buchan Architects on master planning and worked with industry stakeholders to position Honestar Holdings competitively during the tender process.
Innovista Group’s strategic advice enabled Honestar Holdings to avoid undue risk while maintaining flexibility for future opportunities in Mernda’s rapidly expanding market. The decision not to proceed was underpinned by thorough financial analysis, reflecting Innovista’s commitment to client protection and adaptive strategy in a dynamic development environment.
The development envisioned a vibrant mixed-use precinct, featuring residential apartments, retail spaces, and community amenities, designed to meet the needs of Mernda’s rapidly growing population.
Recognising the complexity of the project, Innovista Group brought on a joint venture (JV) partner with the necessary expertise and resources to help execute the vision. This collaboration ensured that the project was well-equipped to meet both financial and operational requirements.
The project included a lease-back arrangement with Woolworths, adding a significant retail anchor to the development and enhancing its long-term viability.
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Innovista Group respectfully acknowledges the Traditional Custodians of the land on which we work and operate, the Wurundjeri Woi
Wurrung people of the Kulin Nation.
Innovista Group respectfully acknowledges the Traditional Custodians of the land on which we work and operate, the Wurundjeri Woi
Wurrung people of the Kulin Nation.
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