Open Space Valuation Methodology

Xyst were tasked with researching current industry practice with regard to the application of variable asset lives (and values where appropriate) that reflect the needs of sites with different levels of service – in particular those open space sites that have very high levels of utilisation and expectations associated with high-profile inner-city metro areas.

The report provides:

  • An updated open space asset hierarchy, representing current best practice, together with
    base useful lives
  • Options for lifecycle and renewal planning for assets located on high use (QS1) sites
  • Performance-based approach to renewal planning

Project Benefit

The Open Space Asset Team of the City of Melbourne (CoM) identified the need to review and develop a more effective approach to asset valuation and renewal planning based on level of service requirements and industry best practice.
Client organisation
City of Melbourne
Asset Management