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Asset Recycling in School Infrastructure
- 1. www.advisian.com Craig Robinson, Principal, SocialInfrastructure and Government Sector Lead QLD Asset recycling in school infrastructure School Infrastructure Forum 27 & 28 November 2017
- 2. • A traditionalview of asset recycling • Application to the education sector • Case study • Results • Learnings • The future Overview
- 3. A traditional viewof asset recycling
- 4. A traditional viewof asset recycling • Proceeds from asset sales are used to finance the purchases of other assets • Approach often includes: – sale or lease of ‘underperforming’ assets – creation/relocation of ‘new’ assets – revitalisation of ‘sustainable’ assets Often asset recycling is a strategy used in response to growing population demands
- 5. Revenue streams Revenue streamsfrom asset recycling may include: • Passive revenue stream assets - such as property sale • Active revenue stream assets - such as sale of an electricity generation asset • Temporary revenue stream assets - such as lease of electricity transmission network • Future revenue stream assets – emerging areas such as value capture or revenue from mixed high rise development
- 6. Views on assetrecycling are changing Strong Support for Asset Recycling to get NSW Moving Minister for Finance, Services and Property, 17 October 2016 “research has shown strong support for the NSW Government’s approach to recycling property assets, with just nine per cent of NSW residents opposed to the sale or lease of property assets to pay for infrastructure and better services” Asset recycling story is 'getting through' to the US Australian Financial Review 17 July 2017 “The ‘economic rationale’ for asset recycling program was clearly understood, but the US – like Australia – faced a big challenge in winning the hearts and minds of the community” - IFM CEO Brett Himbury.
- 7. Application to theeducation sector
- 8. Are education assetssuitable for asset recycling? Can they be impacted by changes in demand? Can they be impacted by changes in the broader environment? Can they be impacted by changes asset sustainability? Can there be a revenue stream generated? Is there demand in new locations that requires servicing? YES YES YES YES YES (e.g. long-term decline in enrolments) (e.g. changes in land use reducing catchments) (e.g. declining diversity in curriculum and learning opportunities) (e.g. passive, active, temporary or emerging revenue streams) (e.g. population and enrolment growth)
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- 10. 1200 primary schoolsites 36,000 buildings $12 billion value Overview Schools of Tomorrow • A comprehensive strategy directed towards the enhancement of learning environments in state schools • Targeting schools in most need of renewal • Planning at a ‘cluster’ level (network of adjacent schools) • 2006-2012 • $800 million over two rounds • Brisbane Bayside Cluster $150 million State-wide (Queensland)
- 11. Wynnum North SS WynnumNorth SHS Wynnum Central SS Wynnum SHS Manly SS Lota SS Wynnum West SS Lindum SS Hemmant SS Manly West SS Wondall Heights SS Tingalpa SS Urban growth Light & Heavy Industry Environmental Zone High Value & Mixed Development Moreton Bay Brisbane River Planning
- 12. Urban growth Light &Heavy Industry Environmental Zone High Value & Mixed Development Moreton Bay Changing landscape Urbanisation and population growth Growth of Port of Brisbane and associated industries Growth of industries along port road and decline student catchments Increase in high value properties decline in families and students Some schools built and sited over 125 years prior when rural industries dominated
- 13. Case study planning Closed& Amalgamated New/ Renewed Wynnum North SS Wynnum SS (North SHS) Wynnum Central SS Wynnum SHS Manly SS Lota SS Wynnum West SS Lindum SS Hemmant SS Manly West SS Wondall Heights SS Tingalpa SS Brisbane Bayside SC (New SHS) Outcomes
- 14. Wondall Heights SS– before & after Source: Google maps
- 15. Wynnum North SHSbefore – Wynnum SS after Source: Google maps
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- 17. • Clear evidence-basedassessments and forecasts are crucial • Win the hearts and minds of the community – consultation is key • Diversity of stakeholder and community groups • Consider the whole asset life and the current cohorts Hold the line! Despite short-term disruption the results will come
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- 19. • Monitor andforecast changes to land use and education demographics • Dynamically shape the education asset portfolio • Monitor digital disruption - future pedagogy? • Infrastructure to continue to support improvement in teaching, learning and educational outcomes • Embrace shared use of education assets • High-rise schools and mixed-use developments • Embrace emerging revenue streams • Consider asset recycling as a means to finance social infrastructure