Bayside Shopping Centre – Asset Capital Review
Bayside Shopping Centre is a prominent three-level Major Regional shopping destination, 53km south of the Melbourne CBD owned by Vicinity Centres (VCX). With over 145 specialty stores, food and entertainment precinct, Bayside stands out for its complex interconnected infrastructure and services. Covering 89,821 sqm Gross Lettable Area (GLA) and welcoming more than 12.2 million visitors annually, Bayside has a 4 Star Green Star – Performance, 5.5 Star NABERS Energy Rating and 5 Star NABERS Water ratings.
Thorough Assessment of Building Services.
We conducted an assessment of the assets to create a long-term capital plan that ensures the facility’s sustainability and efficiency.
Criticality Assessments and Expenditure Prioritisation.
Each asset type underwent criticality assessments, allowing us to prioritise expenditures based on the risks to the business.
Reviewing historical work order and service report data, we gained insights into failure rates.
Interviews with site management teams and incumbent subcontractors provided us with a deep understanding of failure patterns and opportunities for expenditure optimisation.
Smart Asset Management Approach.
To address the needs of our risk-conscious customer and reduce upfront budget pressure, we have devised a strategic plan to extend the life of certain assets deemed to be at their end of life. This involved replacing selected sub-systems based on rigorous risk assessments.