Project Overview

TAG Advisory was engaged by Hatch on behalf of the Department of Planning, Lands and Heritage to provide Class 5 Cost Estimation services for the Future of Fremantle project. This visionary urban transformation initiative focuses on the redevelopment opportunities that will emerge following the relocation of existing port operations to Kwinana under the Westport programme. The project represents one of Western Australia's most significant urban renewal opportunities, reimagining Fremantle's waterfront as port operations transition to the Outer Harbour.

Key Challenges

The project presented unique complexities in estimating costs for transforming industrial port land into mixed-use urban precincts. The scale and complexity of converting operational port infrastructure into vibrant community spaces required sophisticated understanding of remediation requirements, infrastructure upgrades and place-making investments needed to activate this strategic waterfront location.

Uncertainty around timing and staging of port relocation created challenges in phasing redevelopment scenarios. Cost estimates needed to accommodate various transition timelines whilst considering the interdependencies between Westport delivery and Fremantle regeneration opportunities. The heritage significance of many port structures and Fremantle's character required careful consideration of adaptive reuse opportunities versus replacement strategies.

Market dynamics for large-scale urban renewal projects post-COVID introduced volatility in development costs, whilst the unique nature of port land transformation limited comparable benchmarks for cost estimation.

Methodology and Approach

TAG Advisory developed a comprehensive Class 5 Cost Estimate framework addressing the multi-faceted nature of port land transformation. The approach considered various redevelopment scenarios aligned with the economic and place vision for Fremantle's future.

Key estimation elements included:

• Assessment of decommissioning and demolition requirements for redundant port infrastructure
• Enabling works for future private development parcels
• Environmental remediation costs for industrial land conversion
• Heritage structure stabilisation and adaptive reuse provisions
• Infrastructure upgrades including utilities, roads and public transport connections
• Marine infrastructure adaptation for public access and recreation
• Public realm creation including parks, promenades and community facilities

The team analysed comparable waterfront regeneration projects nationally and internationally, adjusting for local market conditions and Fremantle's specific context. Staging considerations were incorporated to align with anticipated Westport timelines and market absorption capacity.

Outcomes and Value

TAG Advisory's Class 5 Cost Estimate provided the Department of Planning, Lands and Heritage with robust financial parameters for strategic planning and Business Case development. The comprehensive assessment established credible budget foundations for government decision-making regarding this transformational urban renewal opportunity.

Clear cost breakdown by precinct and development type enabled phased investment planning aligned with port transition timelines. The estimate supported stakeholder engagement by demonstrating the scale of investment required to realise Fremantle's waterfront potential, whilst identifying opportunities for value capture and staged delivery.

Conclusion

The Future of Fremantle project showcased TAG Advisory's capability in providing strategic cost advice for complex urban transformation initiatives. By delivering comprehensive cost estimates that addressed the unique challenges of port land conversion, TAG Advisory enabled evidence-based planning for one of Western Australia's most significant urban renewal opportunities, supporting the vision for Fremantle's post-port future.