CEO John Knaggs to drive new development company
THE new Maroochydore City Centre has moved into its next phase with the announcement of the development management company and its board of directors to oversee the project.
Mayor Mark Jamieson said this was an important milestone in the journey of creating a new city centre for the Sunshine Coast.
Mr Jamieson described the Maroochydore City Centre as a "game changer" project for the region.
"We want to ensure we have the right model and the best people to take it forward," he said.
Mr Jamieson said the development management company, to be known as SunCentral Maroochydore Pty Ltd, would oversee detailed design, construction, marketing and sales in the Maroochydore City Centre.
"SunCentral Maroochydore Pty Ltd will drive an appropriate balance between commercial and community building functions, whilst ensuring the development delivers a 21st century CBD and an identifiable city heart for the wider Sunshine Coast," he said.
"This will be a city of which we will all be proud.
"To make this happen, council is putting a first class leadership team at the helm of the company.
"Council has high expectations of this project and on behalf of our community, we will be expecting quality results.
"The members of the new Board of Directors are all well-accustomed to delivering first class results."
The new, five-member board will comprise:
• Dr Douglas McTaggart as Chairperson
• Mr Don Boyd
• Mr Morgan Parker
• Ms Jude Munro and
• Mr Michael Kerry
Cr Jamieson also announced that Mr John Knaggs had accepted Council's offer to become the Chief Executive Officer of SunCentral Maroochydore Pty Ltd.
"Mr Knaggs has been the Chief Executive Officer of Council since 2008 and prior to that, he was Chief Executive Officer of the former Maroochy Shire Council since 2004.
"He has a long and involved history with the Maroochydore City Centre project - probably more than anyone else in Council."
Mayor Jamieson also said that Mr Knaggs has an extensive understanding of the planning, design, infrastructure, marketing and investment issues relevant to the Maroochydore City Centre.
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Mayor Jamieson said Council had taken the step to establish this separate company to ensure it operated at arms-length from council and its planning and regulatory responsibilities.
This model will also enable the company to apply a strong commercial focus and expertise to the development, while at the same time enable Council - as the sole shareholder - to ensure community objectives and needs are considered throughout the life of the project.
The company will be responsible for the full range of development management responsibilities including detailed precinct design, oversight of construction of public infrastructure such as roads, pathways, water and sewerage and public areas, as well as the marketing and sale of land.
The company will also be responsible for attracting capital and business investment into the Maroochydore City Centre.
Mayor Jamieson said council would take control of the 53 hectare Horton Park Golf Course site in late May when the Golf Club moved to their new course at Bli Bli.
"Our new company will not be wasting any time to get on with the job of creating a new city centre once the site is handed over," he said.
In early June, works will start on-site, starting with demolition and site preparation followed by bulk earthworks and infrastructure construction for Stage 1.
Over time, the city centre will provide a wide mix of residential, commercial, retail, civic and community uses within a beautiful, sub-tropical setting.
The city centre will also be developed to complement existing business and commercial areas of Maroochydore.
"SunCentral Maroochydore Pty Ltd will be accountable for delivering the Maroochydore City Centre development in a way that supports Council's economic and community objectives for the Sunshine Coast," Mayor Jamieson said.
"The Sunshine Coast aims to be Australia's most sustainable region - and we are confident that this company will deliver a city that reinforces this goal."
SUNCENTRAL MAROOCHYDORE PTY LTD - BOARD OF DIRECTORS
Dr Douglas McTaggart (Chairperson)
Dr McTaggart is currently a Director of the Suncorp Group Limited and UGL Limited, is a member of the Prime Minister's Expert Advisory Panel on the Reform of the Federation and also a member of the Northern Territory Government's Economic Advisory Panel.
He recently retired as the Chairman of the Queensland Public Service Commission. Dr McTaggart served for 14 years as the Chief Executive of Queensland Investment Corporation (QIC), a leading institutional investment manager with over $70 billion in funds under management for a broad range of private and public sector clients.
Prior to this appointment, Dr McTaggart held positions including Professor of Economics and Associate Dean at Bond University, and Under Treasurer of Queensland Treasury.
Dr McTaggart is a very experienced board Chair and is highly regarded in the financial, commercial and investment banking sectors.
Dr McTaggart brings to the role major strengths in corporate leadership, commercial development, infrastructure financing and investment and a strong understanding of the importance of working closely with major stakeholders in delivering a project of this scale and importance.
Mr Kerry has over 40 years' experience in urban planning, infrastructure planning, procurement and delivery and the implementation of major integrated development projects throughout Australia.
This includes responsibility for all urban planning and infrastructure for the City of Brisbane for 12 years and serving on numerous property and infrastructure development boards including the South Bank Corporation, the Urban Land Development Authority, Springfield Land Corporation and the Brisbane City Enterprise Board.
Mr Kerry is currently an independent member of the ACT Capital Metro Project Board which is overseeing the planning for the delivery of a light rail network in Canberra.
Mr Kerry brings to the role an extensive and visionary approach to major property and infrastructure development and a thorough and detailed understanding of essential commercial considerations when undertaking a development of the type and scale as Maroochydore.
Mr Parker has a 20 year career history as a real estate developer, investor and banker at some of the world's leading firms, including Morgan Stanley, Macquarie Bank, Lend Lease and US-REIT Taubman Centers and the Rockefeller family-owned global private equity firm - Rose Rock.
During his career, Mr Parker has completed 65 projects in nine countries representing over US$7 billion in investment. He currently consults to numerous corporations and sovereign funds across Asia and Middle-East.
Mr Parker serves as Chairman of the Asia Pacific Research Council and is a board member of the International Council of Shopping Centers.
Mr Parker brings to the role a dynamic, creative and focussed approach to major property developments of the scale of the Maroochydore city centre and an extensive understanding of property investment markets and international financing considerations.
Mr Boyd retired in 2013 as Global Deputy Chief Executive and as a member of the Executive Committee of Norton Rose Fulbright. He continues as a consultant to Norton Rose Fulbright but is actively engaged in a range of other property and industry ventures.
Mr Boyd is widely regarded as the architect of what was the first international legal practice merger in Australia to create Norton Rose Fulbright - a top ten global legal practice by gross revenue, practice size, number of lawyers and geographical reach.
He is currently the chairman of the Rohrig Group, a private construction company based in Sydney and Brisbane, chairman of the Moore Stephens group of companies in Australia, a director of Asia Society Pty Ltd and has been a long term board member of an agribusiness group of companies.
Mr Boyd brings to the role a comprehensive understanding of brand development and marketing, structuring of commercial developments and a thorough and managed approach to managing complex organisational challenges.
Ms Munro is currently a member of the Sunshine Coast Economic Futures Board and has a long career history in local government and as a member and chairperson of corporate boards and major public entities.
Ms Munro was Chief Executive Officer of Brisbane City Council for ten years, was the inaugural Chairperson of Queensland Urban Utilities, a Director of Air Services Australia and is currently a Director of Uniting Care Queensland - one of Australia's largest non-government organisations.
Ms Munro is also widely respected across the political spectrum and is regularly engaged in mentoring roles for Chief Executives, elected officials and senior executives.
Ms Munro brings to the role a comprehensive understanding of contemporary corporate governance practices, managing stakeholder relations and infrastructure financing and delivery models.