Luxury residential complex improves performance & reduce ongoings

Client
Confidential
Property
Confidential
Sector
Residential
Location
Western Australia
Solution
Building Improvement & Facility Advisory
Residential Strata Apartment Buildings

Summary of the Project

A luxury beach-side residential complex engaged HFM Asset Management to undertake various projects to improve their performance and reduce their ongoing costs.

This Strata-Residential building complex has 156 apartments and 7 levels. Common areas of the apartment complex include various lifts, BBQ Area, dining area, wine storage, gym, pool, spa, and yoga studio.

CHALLENGES

The decision-making process for strata management complexes, takes longer than other sectors as it involves a group of decision-makers (Council of Owners).

KEY OBJECTIVES

  • Improve performance
  • Reduce costs
  • Prevent maintenance issues

APPROACH

HFM implemented the following projects:

  • Electricity Procurement
  • Gas Procurement
  • Hot & Cold Water Embedded Network Feasibility
  • Asset Register, Life Cycle Costing & 10 Year Maintenance Plan
  • Cloud-based asset management software (myBuildings): Setup & training in progress. This is an innovative online tool for efficient asset management and preventative maintenance scheduling.

OUTCOMES

Electricity Procurement:

6.2% energy costs reduction

Gas Procurement:

2% gas costs reduction

Hot & Cold Water Embedded Network Investigation:

HFM undertook a Stage 1 investigation and developed a plan of recommendations to improve its performance and accurately on charge lot owners for the water they consume

Asset Register, LCC & Maintenance Plan:

A 15-Year Maintenance Plan & Reserve Fund Forecast were developed for the site allowing the Owners to start developing their Reserve Fund Plan

Cloud-based Asset Management Software (myBuildings):

This project is currently being implemented, at its completion it is will manage both scheduled and ad hoc maintenance requests and also provides features such as Contractor Management (insurance certificates, JSEA etc), parcel management and room bookings.

For over 15 years we’ve been transforming sites across Australia into efficient, economic and compliant assets for our clients.
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