Martin Place Unsolicited Proposal, NSW

OUR ROLE:

ConnellGriffin’s Advisors were part of the Sydney Metro Martin Place Development team and provided commercial services as the Commercial Lead during Stages 2 and 3 of the NSW Government’s USP with Macquarie Group Limited.

Stage 2 required Sydney Metro, in conjunction with the NSW Government, to negotiate and develop bespoke and robust station and overstation development contract documentation that could be accepted in accordance with the USP procedure ahead of the Final Binding Offer by Macquarie Group.

Furthermore, the parties were to ensure satisfaction of value for money through the financial model and to preserve the unique offering element by Macquarie Group.

Stage 3 required Sydney Metro, on behalf of the NSW Government, to review Macquarie’s Final Binding Offer and negotiate a sound commercial outcome that represented value for money for the NSW Government across both the station and over station development components of the unsolicited proposal. The role required leading the coordination of legal and commercial activities with other groups and teams within the Sydney Metro Delivery Office.

Our Advisors were an integral part of developing and finalising the associated contract documents required to seamlessly replace the relevant scope of the existing Sydney Metro City and Southwest project in and around the Sydney Metro Martin Place Station.

As Commercial Lead, the ConnellGriffin team were responsible for:

• promoting a common approach to the contract documentation to enable a whole-of-City & Southwest Project commercial position;
• integrating the commercial position on the Station Delivery Deed and Over Station Development Project Delivery Agreement to provide an effective whole-of-project commercial risk position
• providing commercial input to determine the impacts of potential changes during the negotiations with Macquarie Group, while considering whole of project consistency, and
• providing advice on commercial matters and procurement processes in order to support the delivery of demonstrable value for money outcomes in a sole source procurement.