The Department of Housing, Local Government, Planning and Public Works of the Queensland Government conduct annual valuations of all Department Owned Assets. As component to this Valuation, Asset Replacement Costs and Remaining Useful Life Costings are conducted based on the theoretical construction cost to replace these assets. The Cairns Convention Centre is a major events space and cultural hub for Far North Queensland owned and managed by the Department.

Commercial & Infrastructure were engaged to provide cost-estimation services for the Asset Replacement Costs, as well as depreciation calculations and key inputs to the valuation reports. The scope of works included quantity survey and project estimating which required population of a Bill of Quantities. In particular, the services required:

• Cost estimating including validation of key trade and material supply rates
• Asset Depreciation Costing based on Remaining Useful Life
• Escalation calculations
• Valuation Reporting and Estimation Reports.