DEVELOPMENT


To know where you’re heading, you have to know where you are right now. So before you start looking ahead, you should review the past performance, or the current situation. Look at each area of the business and determine what worked well, what could have been better and what opportunities lie ahead.

Develop a vision statement
 
This statement should describe the future direction of the business and its aims in the medium to long term. It’s about describing the organisation’s purpose and values. Business gurus have debated long and hard about what comes first – the vision, or the mission statement. But, in practice, you could develop both at the same time.  Often part of the reason why developments fail to succeed is because they failed to sufficiently plan.Our team of expert property advisers can assist you with strategy around mission statements, feasibility, legal contract comprehension and negotiation tactics.
 
There are many types of developments to explore:
  • Large multi street sub division
  • Single block split
  • Infill development
  • Master Planned Estates

 

Benefits of Subdivision

  • Greater Profits – Subdivision takes one property and turns it into two or more, meaning you have more assets to sell.
  • On a large enough block in a desirable area, this could be a highly lucrative move. Simply subdivide the land, develop each property and sell them all off.
  • Greater Flexibility – Of course, you also have the opportunity to retain some of your land for rental income. Subdividing can give you the best of both worlds, allowing you to sell off one property for immediate profit and use the other for ongoing cash flow.
  • Selling one of the properties can also give you the capital to expand on the other.
 
Infill development can bring several benefits:
  • Municipalities can save money by promoting development in areas that already have infrastructure connected to public services, as opposed to financing new infrastructure for greenfield development. 
  • Infill development can raise property values in the surrounding neighborhood. 
  • It can bring residences and destinations closer together, making it easier for people to walk, bike, use transit, or drive shorter distances, which reduces pollution from vehicles.
  • For distressed communities especially, infill development can help stabilize a community by attracting a greater diversity of household income levels, bringing new resources to a neighborhood and reducing concentrated poverty.

Identify strategic objectives

We help you to develop a set of high-level objectives for all areas of the business. These highlight the priorities and inform the plans that will ensure delivery of the company’s vision and mission.

 

By taking a look back at your review and initial SWOT analysis, you can incorporate any identified strengths and weaknesses into your objectives.

 

Crucially, your objectives must be SMART (Specific, Measurable, Achievable, Realistic and Time-related). Your objectives must also include factors such as KPI’s, resource allocation and budget requirements.

 

 
While the process may vary slightly from project to project, in essence all property developments must go through the following stages;
  • Pre-purchase.
  • Concept stage.
  • Purchase.
  • Town planning.
  • Working drawing and documentation.
  • Pre-construction.
  • Construction.
  • Completion and Post Construction.