At One - Boutique Hotel and Facilities for Middle Head

At One is a rich experience. My life is
significantly enhanced every time I visit At
One.
It is a haven.
I truly am at one, connected to my purpose,
connected to all and every thing, leaving a
positive footprint on this planet.
You are about to read of my three day
business trip to Sydney, staying at the
world's coolest boutique hotel – At One

Private & Confidential © The Flatiron Innovation
1 August 2012

Day One
Miss T met me at the airport after a 24-hour flight from
New York.
I flashed her my black At One card. Its proximity with her
smart phone immediately gave Miss T my vitals –
completely secure – and validated me: my last visit, visits to
other global At One facilities, the food cooked especially for
me by the organically trained chefs, my health and visits
and routine, business KPI’s, room fridge requirements, my
travel itinerary, spouse’s interests and, most importantly,
my calendar.

1 August 2012

The electric vehicle in which Miss T
picked me up cruised quietly to the
entrance of At One. The first
impression of At One is cool –
discreet, calm, and tranquil. Being
an ex-army post, At One is also
secure and efficient. Once I’m
validated my card gives me access to
certain areas.

Me, I get all access; the restaurants, the bars, the grounds, the pools, green areas, and the small farm plot; I
am engaged and connected with At One’s team, who are deeply experienced in health, wellness, and
business and who work together to help me meet my objectives in life.
1 August 2012

From the outside, At One blends in with the
headland with little sign that a haven is
deeply embedded into this historic Middle
Head which once helped to protect Sydney.
In a way, it still does.
The reception is inviting, with high walls, a
pitched roof and high deeply angular,
exposed wooden beams – its bones - and a
generous space.

1 August 2012

The floor area is open functional plan,
with lounge areas, bar, and tasty organic
treats – it’s a chill out
relax/greeting/welcome area – stay for an
hour and then move on.
There were some cool tunes playing and a
nice mix of people.

Not having to deal with normal hotel check-in protocol, Miss T transitioned me effortlessly over
to my butler who carried my bags and escorted me across the road to my favorite room,
number 23.
1 August 2012

The room faced north, it was large,
comfortable and inviting. Every item is
organic sustainable in At One – the
sheets, the cottons, the bedding, the
bathroom amenities, the paint, the
carpet. It was open and comfortable
with an ensuite that reached out to the
ocean with beautiful sunlight
streaming in.

The butler disappeared quietly after hanging my items while I lay on my back on the large
comfortable king sized bed looking out over Balmoral Beach as the sun was setting. “Ahh…
thank you” I said to myself.
1 August 2012

I was feeling a little hungry and looked
into the expansive bar fridge and
pantry that was afforded to most units
in At One. As always, the fridge and
pantry is populated with my favorite
foods. I poured a grey goose on the
rocks and took the three oyster
‘welcome’ dish from the fridge.

I turned on the digital radio and my favorite station was preset, playing the tunes I liked.

1 August 2012

I picked up the remote and turned on
the large flat screen LED TV. The
opening screen is a calendar displaying
my weekly planned events – already
synced when greeted by Miss T at the
airport.
I looked over the calendar that I had
confirmed prior to leaving New York
and noticed that in between some slots
which I always keep clear when staying
in this hotel At One had, with insight,
made a number of suggestions.

1 August 2012

That night was Sunday, and I was quite fortunate. Sunday was Soul
Sessions - Raising Inspired Children.
I clicked on the event and eagerly read the following:
Inspiring Children by Empowering Parents
It's been said that you need two types of saving funds as a
modern parent: one for your offspring's education, the other for
their therapy. British Psychologist Oliver James wrote an
anxiety provoking book about the parent-child reality titled They
f*ck You Up. Whoa! But what if we didn't have to f*ck our kids
up? What if the world's best thinkers applied their knowledge
and expertise to ways we can raise a generation of kids who
are equipped to handle just about anything that comes their
way? What if parents could get access to cutting edge science
and information far superior to anything that has ever existed
before? What if we as parents armed ourselves with new tools
and modi operandi that mean our children are raised
consciously? What if? What if?
I immediately confirmed my attendance.

1 August 2012

Ok, no need to worry about food or entertainment for the evening, I
took my oysters and ‘goose’ onto the expansive verandah and looked
out over Balmoral Beach - I had 30 minutes before I needed to make my
way to Soul Sessions so I picked up my iPad and had face time with my
daughter to let her know that I arrived safely. I love the internet
connectivity here – always on – full broadband.
“Ahhh…thank you” I thought.
Soul Sessions is simply brilliant. It’s situated in an intimate, 30 person
stage like venue. Organic food is exquisitely prepared and made by the
wonderful chefs. The people who attend Soul Sessions are intelligent,
open, loving, and present – they are on their journey. I meet someone
new and interesting in all walks of life every time I go – diverse and
engaging. And tonight the presenter is the amazing Dr. Joseph
Dispenza D. C.

1 August 2012

Still quite excited after Soul Sessions I made
my way to one of the several bars in At One.
Sunday is usually locals and new starters to
At One – it has its own vibe. I enjoyed
some beautiful energy before I retired to my
room.
“What was on the week’s agenda?” I
thought as I drifted asleep in the beautiful
king size bed…

1 August 2012

Day Two
I was up early reading and taking in my podcasts and
international news that I relate to and that I rely on - I’m
productive in the mornings - my calendar displayed onscreen
– technology live.
At 8am my butler delivered breakfast, taking it to the balcony
and poured me my English breakfast tea, piping hot. This
morning’s breakfast included scrambled biodynamic eggs,
with chili and coriander - produce from the onsite farm - with
a piece of freshly baked on premise organic, spelt sourdough.

1 August 2012

At 10:45am my reminder indicated that I had an
11am session with Momentum for Life so I cleaned
my teeth, put on some shorts and a singlet and
walked to the Fitness Centre. Leila met me at the
entrance holding her iPad.
She had reviewed my previous workout sessions in
New York, took notice of my aims and objectives
and had me ready for a 40 minute personalised
workout.

1 August 2012

This is not a typical gym – far from it. This is about
functional exercise based on the principals of eating right,
acting right, thinking right and moving right. We did warm
ups using a swiss ball and deep stretching and then on to the
cables where I stood crouched on my single right leg, looking
up, pulling a weighted cable with my left arm in a precise
symmetry.
Leila’s sharp eye was used to point out any flaws in my form
and encourage me when it was done right. After a relatively
short and intense all-body session, Leila took me to the lounge
to cool down and recover and talk about my diet and plans
for the week.

1 August 2012

I was back in my room by 12 and showered using
the unique organic products At One has for use.
Fired up, ready to go.
Miss T was in the car, fully charged, out the front
with the luncheon address. I sat in the back, made
some calls, did some emails (wi-fi in car) and was
delightfully delivered to lunch.

It was a full day through to a dinner where I was attending a presentation given by a good friend - an agriscientist
entrepreneur - on the development of a series of villages in Australia that are sustainable and innovative.
1 August 2012

DAY THREE
Another day: work, breakfast, and my daily calendar. I have meetings
from 12pm today hosted at the At One facilities. I have access to board
rooms, meeting rooms, outside areas, cafes, and restaurants – all
organic – all sustainable. The entire place is Wi-Fi enabled – inside
and outside. And at 4pm I have a 2 hour business workshop hosted by
Sue.
Sue is ex-McKinseys and with her team has developed an holistic
business health program for the CxO level. She and her team have
been working with me on some issues in my corporate world helping
me to unblock some of the serious challenges I am facing.

1 August 2012

My day was well planned and I moved forward in leaps and bounds.
At 6pm I went to Yoga in a beautiful space looking out with a 270
degree view of the Sydney Harbour, the headland and middle

Harbour. It was always a good session letting go, opening my mind,
being ready for answers to form.

After a shower and clean up I decided to eat in tonight, for one, at a

restaurant specialising in organic Wagyu and local grass fed beef –
the greens and accompaniments picked freshly from At One’s
garden and local surrounds.

1 August 2012

Having thoroughly enjoyed the meal, I took a brief stroll around
At One taking in its beauty, its tranquility and its history while
peering into the select organic shops open until 8pm most
nights. I stopped at Feather and Bone – the local organic

providors and suppliers to the restaurant where I had just
eaten.

I retired early, watched a movie which was synced from my iPad
to my large LED screen and drifted off.

1 August 2012

The radio came on gently at 2:45am, and then at 2:50am a
notification from my calendar of a Skype session with my
New York partners to start at 3am.

I got up, made a cup of tea and waited for the call on the
LED with its brightness automatically set to night time

viewing. It was a 2 hour meeting and by 5 we had had it and
decided to finish off.

Being a little wired I decided to walk down the track, take a skinny dip and then walk to the beautiful Balmoral Beach and
watch the sun come up.

1 August 2012

I was meeting a friend here at 4pm, she’s a local and loves coming here to have
a spa treatment using the world famous Australian organic skincare products
by Sharon McGlinchey. She also takes organic cooking lessons with Jo Rushton
but not today. Today was the treatment and then I was meeting her at one of
the green suites – a private pool where we were going to be served a private
dinner party.

After a delightful afternoon we walked back to my room past the lap pool and
juice bar where people where mingling by the water that forms the backbone of
At One.

1 August 2012

At 6am I was woken by my butler who knocked and

entered with a tray of light breakfast and tea – I had
an 8:30am flight back to New York.

There is always some sadness when I leave At One but
I knew I was going to be in Geneva soon staying again
at an At One – they will know of my visit here, be
ready for my arrival and suggest beautiful
experiences for me.

“Ahhh… thank you”

1 August 2012

Team
Concept
Delivery
Financials
1 August 2012

A BESPOKE BOUTIQUE HOTEL
In full cooperation with The Sydney Harbour Federation Trust we intend to develop the
site for an 80 room high-quality, sustainable boutique hotel.
This unique, world-class hotel will be centered on innovation with unique wellness
facilities for both the individual and corporate consumer in the high-end domestic and
international market.
We will use the latest in green building and renewable energy technologies, source the
produce from local farms and be sustainable, high-tech and innovative.

This site is undeniably unique with extraordinary potential and requires a unique,
bespoke approach. It has the potential to be a showcase for the world and as such
we have assembled a unique team with a combination of skills that are best of
class to deliver an outstanding product.

As potential custodians of this historic headland, we take this opportunity to acknowledge the traditional owners of
this land (both past and present) and you, the Trust, for your vision. As a new custodian, together, we will
enhance this unique and historic site and produce a bespoke, innovative and sustainable boutique hotel, known
as, At One.
At One, is an 80 room world-class hotel centered on innovation with unique wellness facilities for both the
individual and high-end corporate consumer - both domestic and international.
At One is wellness in health, wellness in business, wellness in life – a unique offering that includes a number of
significant businesses that are current, operational and successful - run by Sydney’s industry leaders - coming
together, to be At One.
At One is the latest in green building and renewable energy technologies, it is food sourced from local farms, it is
organic and sustainable, it is high-tech and innovative.
At One is a rich experience. Your life is significantly enhanced every time you visit At One. It is a haven. You
truly are at one, connected to your purpose, connected to all and every thing, leaving a positive footprint on this

At One is a connection with you the Trust and your management plan, it is a connection with the previous
custodians of this land, the local community, the rich and diverse heritage of this country and a connection with the
international community.
At One is a connection with the Past, the Present and the Future - a global exemplar – first to Sydney.
The successful completion of your vision relies on:
•Purpose, Passion and Integrity,
•Ability, Teamwork and Energy,
•Funding and Resources.
We have full confidence in all three and acknowledge the need for full and open collaboration with you and other
stakeholders of this headland through the design, delivery and operational phases of this project. This approach
will ensure a successful realisation of your vision as described in your master plan.
We have an outstanding team, best of class to see this through to completion.

THE FLATIRON INNOVATION
The Flatiron Innovation Pty Ltd/LLC initiates, plans, and delivers large scale projects in the
Technology and Green sector. Our skills and experience are ideal for this site at Middle Head.
We have experience in and a successful track record in conceiving and delivering large-scale
projects to the world market for sustainable long-term profitable growth.

MATT BLOMFIELD
Corporate executive with extensive experience as a Managing Director, Chief Executive Officer and Director of international,
publicly listed and private technology companies in the information technology, property, telecommunications and information
security sectors.
- Initiating, negotiating, and closing large scale international projects
- Global business network – Resident New York & Sydney
- Capital raising
- Managing investors and team motivation

IAN CLARK
Senior corporate finance and consulting partner with a global professional services background (partner PwC10 years) and has
been the Chief Financial/Operating Officer of private and public sector organizations.
- Formulating strategies and business plans, improving performance and profitability
- Driving change in business systems and processes, growing businesses organically and through mergers and acquisitions, and
raising capital
- Worked across a broad range of industries including film, financial services, telecommunications, technology, energy and mining
1 Augus 2012

DELIVERY TEAM
Joost Heymeijer, General Manager of the Wolgan Valley Resort & Spa, Dom
Bennett, Director of Bennett Murada Architects, and Kevin Miksch, Project
Director with Pure Projects, led the team that successfully delivered the
Wolgan Valley Resort & Spa development.
•40 individual suites on a 4000 acre protected landscape in the Greater Blue Mountains World
Heritage Area.
•The Resort opened in October 2009 after a 2 year planning and 2 year construction period.
Emirates Airline owned with investment of over A$130 million.
AWARDS:

•· 2012 - Grand Award winner in Andrew Harper's Hideaway Report.
•·Andrew Harper 2012 General Manager of Wolgan Valley Resort & Spa, as Manager of the Year.
•· 2011 - Condé Nast Traveller UK Gold List
•· 2011 - Condé Nast Traveller World Savers Award - Winner, Wildlife Category
•· 2011 - AsiaSpa Magazine Awards - Winner, Eco-Spa of the Year
•· 2011 - Condé Nast Traveller - Runner Up, Favourite Overseas Leisure Hotel, Australasia & the South Pacific
•· 2011 - Hotel Management (HM) Awards for Hotel and Accommodation Excellence - Best Regional Property and Best
Environmental Programme
•· 2011 - Tripadvisor Traveller's Choice Awards, in South Pacific Region
•· 2010 - Gallivanter's Guide Awards - Award for Excellence - Editor's Choice
•· 2010 - The Leading Hotels of the World, Overall Winner, Commitment to Excellence Award and Winner, Environment
Category
•· 2010 - AHA National Awards for Excellence - Overall Hotel of the Year Award, Best Environmental Practice and Best
Deluxe Hotel Accommodation
•· 2010 - HM Awards for Hotel Excellence - Unique Accommodation, New Hotel, Regional property, Hotel Chef ,
Environmental Programme
•· 2010 - Australian Gourmet Traveller Travel Awards - Best new Resort/Lodge
•· 2010 - Tourism for Tomorrow Awards by the World Travel & Tourism Council
•· 2010 - AHA Awards for Excellence - Outstanding Contribution to Tourism, Best Environment Initiative and Regional
Deluxe Accommodation of the Year
•· 2010 - Condé Nast Traveller - 2010 Hot List
•· 2010 - Travel and Leisure It List

Balance
•Possibilities
•Efficiency
•Outlay
•Quality
•Collaboration
Experience
•Wolgan Valley
•Trust
•Leadership
Process
•Heads of Agreement
•Approvals
•Heritage
•Environmental

Due Diligence & Masterplanning

4 Months

Concept Design & Approvals 4 Months
Design Development 6 Months
Construction 12 Months
Soft Opening 2 Months

Grand Opening
DECEMBER 2014

Mature Offering
Peaked Demand

World Class

Globally Competitive

Sophisticated
Community

Adventurous

Warm
Luxury

SALES & MARKETING
It is not very often that opportunities like At One arise - an opportunity that presents a world
class location and a world class concept in a world class city.
Sydney continues to perform strongly in all hotel industry classes. In the past 8 years
occupancies in the 5 star category have grown from mid-80% to mid-90%, and the past 3
years have been steady at well over 90%, a performance most cities in the world would envy.
Average rate has not kept pace with occupancy and is currently 15-20% lower where it should
be - mainly due to the fact that the product is not up to the standard of the global competitive
set (with the Four Seasons being a prime example and the Park Hyatt being a lonely outsider).
Sydney has matured in the hospitality offering and our restaurants belong in the global top 100
in food, service and design. More and more boutique hotel offerings are being developed and
accepted by the discerning travellers - a prime example is the development of Baillie's Lodges
11 room hotel in The Rocks, opening December 2012.
The emergence of high end restaurants and mature and experience-based high end luxury
offerings through Luxury Lodges of Australia makes the timing of At One all the more exciting.
At One will combine all of the above in an iconic location - a 15 minute taxi ride from the Opera
House…

At One will utilise a world class distribution channel and a strong on-line presence to promote
the offering to market.
At One will attract a broad range of guests including experience-seeking corporate travellers,
curious well-travelled tourists, wellness seekers, conference groups, Sydneysiders and
interstate visitors.
At One will appeal to a sophisticated yet adventurous market, affluent but not snobbish, street
smart as well as intellectual.
At One, with its outstanding location, respect for the site’s history, clever use of space, world
class accommodation and service that is knowledgeable, genuine and warm will be a success.

MARKET DATA

Occupancy rates in Sydney are the nation’s highest and are forecast to increase
increase from 85% in 2012 to 88% by 2014. In addition, average room rates are
forecast to grow at 4% p.a. over the period.1

Occupancy
Room rate
Average yield
per room

1. Tourism and Hotel Outlook, Deloitte Access Economics Q1 2012

KEY BUDGET ASSUMPTIONS
CAPITAL
•Build cost ~ $36.5m
•Working capital ~$3m
•Major refurb in year 11 ~$7m
•Conservative levels of leverage
~30%
•23 year leasehold

OPERATING
•80 rooms
•Initial room rates vary between
$500 - $3,000/night with an
average of $800/night
•Room rate growth ~3.5% pa
•Year 1 occupancy 60% rising to
80% by year 3
•Rent 10% of total revenue
•Mature operating margin
~20.7%

FIVE YEAR INDICATIVE OPERATING
BUDGET
$ million

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Total

14.0
4.9
0.5
19.4

16.9
5.9
0.5
23.4

20.0
7.0
0.5
27.6

20.7
7.3
0.6
28.5

21.4
7.5
0.6
29.5

Total
Net operating profit before funding and tax

5.3
2.1
2.3
0.7
1.9
2.9
1.9
17.2
2.2

5.6
2.5
2.3
0.8
2.3
3.6
2.3
19.5
3.8

5.9
3.0
2.4
1.0
2.8
4.2
2.8
22.0
5.6

6.1
3.1
2.4
1.0
2.9
4.4
2.8
22.7
5.8

6.3
3.2
2.4
1.1
3.0
4.5
2.9
23.4
6.1

11.3%
60.0%
$
800

16.4%
70.0%
$
828

20.3%
80.0%
$
857

20.5%
80.0%
$
887

20.7%
80.0%
$
918

I ncome
Room
F&B
Shop rental

Expenses
Staff
Purchases
Depreciation
Utilities
Rent to Trust
F&B
Other

Net operating margin
Occupancy
Average Room Rate

At One - Boutique Hotel and Facilities for Middle Head

At One - Boutique Hotel and Facilities for Middle Head

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