Westpac Banking Corporation Review of Retail Refurbishment Capital Works Programme
MJ Wood Management was engaged by property managers Spectrum Partners to evaluate the efficiency of the Westpacs capital works programme for their national retail branch network.
Following a series of interviews with key stakeholders and a thorough review of project and financial documentation, MJ Wood Management prepared an evaluation report complete with a suite of recommendations required to reduce both cost and time of project delivery.
These recommendations were subsequently endorsed and implemented by the senior management of Westpac Property Services, resulting in an estimated reduction of ten per cent to the annual capital cost for these works.
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The detailed estimate of costs prepared by MJ Wood Management was used to assess the viability of various design options.
MJ Wood Management assisted in the development of the adopted design option, which reduced the construction cost by $ 300,000, enabling the development to proceed.
The final outcome was a very successful development, delivered on time and within budget.