Many people identify sites which appear to be suitable for development; however only 1 in 50 sites that we are presented with will be the subject of any detailed due diligence. This is most often due to one or a combination of the following factors: sales terms and conditions, price, location, planning issues, construction limitations or available infrastructure.
Once a potential site is identified any detailed feasibility will involve:
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Site Research - Research into the area development plan and then subsequent discussions with council regarding the key development considerations; such as (but not limited to) the allotment dimensions, possible building envelopes, setbacks, open space, site coverage.
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Site Inspection - Site inspection to fully understand any unique site constraints, current and required infrastructure and any risks with the development.
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Project Cost Analysis - Determine all costs associated with the project (with full transparency into each cost expected) and summarise the costs for each phase of the project through acquisition, planning, pre-construction, land division, construction, post-construction and sale including expected holding costs.
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Cash Flow Analysis - Highlight when each of the costs is expected to be incurred, the length of each phase of the project; and which costs are likely to be funded by banks or are likely to affect cash flow. The peak debt and ROI will also be highlighted for each development option.
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Sales History Analysis - Provide market research to identify comparable sales; and to justify the most likely projected value in the current market conditions.
很多人找到看上去适合开发的地皮就做决定;而递交给我们50个地皮可能只有1个会成为详细的尽职调查的对象。原因常常就是其中一个或多个因素的组合:地皮销售合同条款条件,价格,位置,规划问题,施工限制或可利用的现有基础设施。
一旦确定了有潜力的地皮,任何详尽的可行性调研会涉及到:
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地块调查- 研究该区域开发规划后,与市政厅规划部门讨论开发许可的关键考量因素;包括(但不限于)地块分割尺度,可能的建筑用地面积,退后距离,开放空间,建筑物基底面积等。
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地块视察- 实地勘察以便全面了解任何特定的地块制约因素,当前已有的和需要增加的基础设施,开发项目的任何风险。
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项目成本分析-确定与开发项目有关的所有成本(对预期的任何成本项有完全透明度),小结开发每个阶段的成本,从收购、规划、施工前,土地分割,施工,施工后,到销售以及预期的持有成本。
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现金流量分析 – 标示每项成本预期发生的时间点,项目每个阶段的时间长度;银行可能贷款支持的成本项;可能影响现金流的成本项。 每种开发方案对应的债务峰值和投资回报率也会标示。
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销售历史分析 - 进行市场研究以确认周边有可比性的地块零售情报;以推算验证按照当前市场状况最有可能实现的项目价值。