Wellington Waterfront Ltd chooses from a range of approaches to obtain revenue via the sale of ground leases covering sites that have been identified for commercial development to help fund the waterfront's public space developments.

The Development Project Team may adopt the most appropriate of the following:

Sale of development sites through a competitive tender process

Requests for Registration of Interest (ROI) are publicly advertised within New Zealand or occasionally, off-shore, targeting developers or property investors.

A shortlist of the companies that submitted an ROI is then sent a detailed Information Memorandum prepared by WWL. The memorandum contains information needed to formulate a tender outlining how they propose to use the site, a concept design and a non-binding offer for the ground lease.  The Information Memorandum may include information such as a design brief for the site, technical specifications related to the site and other relevant information.

From this process one (or none) of the tenders may be chosen by WWL, with input from the Technical Advisory Group (TAG) and a recommendation made to the Council for its approval.

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Sale of development sites to parties identified and selected off market

WWL may invite specific property developers or investors to submit a proposal for a specific site.  This would happen if WWL was aware that the site would be of interest to certain developers or investors who would be likely to propose a use for the site that would meet all the criteria set down including design and price.

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Sale of development packages

WWL may take the development as far as obtaining a resource consent, securing tenants and letting a construction contract prior to marketing the development to investors as a total package.

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Joint venture agreements between WWL and selected developers

WWL may undertake a development with a joint venture partner. WWL would retain an interest in the development, while sharing the risks and costs associated with the (re)development.

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Contract management eg: managing a construction contract(s)

WWL is responsible for the management of construction contracts. On small projects this  may be completed utilising consultants reporting to WWL but on all major projects a WWL project manager will be in charge.

Contract management includes tendering, assessment of tenders, budget control, risk management and programme overview. Where appropriate, construction management may be utilised, whereby the project is tendered as a set of separate contracts with overall responsibility maintained by WWL.

Design and cost consultants are involved throughout the contract to ensure the design intent and quality are maintained.

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