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2021-09-13 General Committee Meeting Agenda

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GENERAL COMMITTEE MEETING AGENDA   13 SEPTEMBER 2021


                                          Attachment 2




                                        Page 71 of 135

GENERAL COMMITTEE MEETING AGENDA                                                                              13 SEPTEMBER 2021

                                                                                                                             Attachment 2

       DG:HS                                                                                                    AASpropert
       J3393                                                                                                           P      P      y
                                                                                                           Adelaide. Brisbane. Melbourne. Sydney
                                                                                                                    m3property Australia Pty Ltd
                                                                                                                         ABN 60 153 395 405
                                                                                                   Level 2, 15 James Street, Fortitude Valley, Qld, 4006
                                                                                                                    Telephone +61 7 3620 7900
                                                                                                                Email [email protected]
                                                                                                                      www .m3property.com.au
       26 July 2021

       Mr Joel Douglas
       Development Manager
       Stockwell
       399 Montague Road
       West End Qld 4101

       Email: [email protected]

       Dear Joel,

       RE:   ADVISORY LETTER
            28 EENIE CREEK ROAD (NOOSA CIVIC —- BALANCE LAND) — PART OF LOT 3 SP246584 (PROPOSED LOTS 2 & 22),
            NOOSAVILLE, QLD, 4566

       Instructions
       We have been instructed by Stockwell, to provide an indication of the market values of the above-described property for internal reporting
       purposes. The advisory letter cannot be utilised for any other purposes. We have been instructed to complete our assessment on the
       following scenarios:
       .     Scenario 1 - Market Value of Proposed Lots 2 & 22, assuming the highest and best use subject to the Noosa Plan 2006 (as at 30
             July 2020).
       °     Scenario 2 - Market Value of Proposed Lots 2 & 22, assuming the highest and best use subject to the Noosa Plan 2020 (as at 31
             July 2020).

       We have conducted a kerbside inspection of the parent parcel (11 September 2020) and have therefore relied upon the information
       provided by the instructing party, which includes the following:
       .     Copy of the Proposed Survey Plan.
       °     Summary of key changes between Noosa Plan 2006 and Noosa Plan 2020 prepared by the instructing party's town planner.
       °     Copy of the Infrastructure Agreement.
       °     Copy of the Noosa Civic Infrastructure Charges.

       Our assessment of the proposed lots has been completed on the following basis:
       °     The proposed lots have the ability to be cleared, with the exception of the identified vegetation covenants.
       °     The infrastructure credits paid in 2003 are transferrable to an intending purchaser of the proposed lots.
       °     A sale of Proposed Lot 2 under Scenario 2 would be subject to obtaining development approval given the permitted uses.

      Liability limited by a scheme approved under Professional Standards Legislation.
  Document Set ID: 21593272
  Version: 1, Version Date: 24/08/2021

                                                                                                                         Page 71 of 135
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