Session 1:
Getting Started – The Fundamentals
- What the developer’s role is
- What cannot be delegated
- Knowing a little about a lot of issues
- The cost of using experts
- Understanding the influences that must be juggled: occupier demand, site availability, planning constraints, finance, professional fees and construction costs, legal rights and obligations
- Making decisions, the developer’s principal responsibility
Planning consent – The Key to Value Uplift - but Primary Source of Frustration for Most Developers
- The concept of development
- When is planning permission required?
- Planning applications and appeals
- Costs of pre-application consultation, applying and appealing
- Financial and other enforceable agreements with and undertakings to local authorities
- Planning officers and councillors; what they do and don’t do and how to interact with them
- Environmental appraisals
Finding and Acquiring Sites
- How sites are found. Where and how to look
- Investigations before purchase
- Outright acquisition, conditional contracts and options
- How much to pay – residual valuations and comparable evidence
- Local, district and regional plans. Monitoring changes to plans
- Contamination risks
- Land zoned for planning and white land
- Uses and density considerations
Chair:
Dan Mitchell, Planning Director, Barton Willmore, now Stantec
Speaker:
Kevin Hunt, Senior Director - Development & Planning, BNP Paribas Real Estate
Session 2:
The Development Team – Who are They? What do They Actually Do? How do you Manage Them?
- Leadership – a vital ingredient, but who is to be the leader?
- Managing your team to deliver your project, not the last one they did
- Management of stakeholders, especially the negative ones
- Reputation counts for nothing – track records do
Design and Construction
- Who does what
- The pre-site plan
- Once-on-site management
- What happens after practical completion
- Alternative structures
- Cost control
- Monitoring and controlling progress
- Dispute resolution
- Defining completion
- The involvement of funders and pre-let occupiers
- Health and safety issues
- Satisfying building regulators
Marketing/Letting/Sale
- The role of the agent
- Exploring the options
- Marketing
- Branding
- Phasing
- Marketing tools
- Marketing costs
- Selecting agents; agreeing fees
- Liaison with lawyers
- Selling the completed development
Chair:
Dan Mitchell, Planning Director, Barton Willmore, now Stantec
Speaker:
Bradley Carter, Development Director, The Pickstock Group
Session 3:
Valuation
- Nature of valuation and why it is fundamental to property development – why, how and when should valuations be done? By whom?
- Concept of residual valuation
- Assembling and verifying essential data - rents and yields
- construction costs
- professional fees
- finance charges - Checks and balances
- setting the ‘right’ developer’s profit
- scenario testing and sensitivity analysis
- DCF - Market volatility and its effect
- changes in interest rates
- construction costs
- cost of delays
- void periods
- changes in occupier demand and investment demand - Monitoring cash flow and budget
- Use of contingencies
- Dealing with cost overruns
- Provisional sums
- Rental growth and cost inflation
Chair:
Dan Mitchell, Planning Director, Barton Willmore, now Stantec
Speaker:
Simon Wainwright, Managing Director, JPW Real Estate
Session 4:
The Legal Agreements
- The purpose of legal documents
- The suite of agreements and the contractual matrix
- How project insurance interacts with the legal documentation
- Dealing with development and construction risk
- Design and construct building contracts
- Key issues on pre-let agreements
So, What Goes Wrong Most Often? How to Avoid the Many Pitfalls. The Art of Maximising Profits
- Most frequently made mistakes
- How to spot the dangers – how to avoid them
- How to maximise profits
- Tax planning
- How to minimise the risks
Financing Development
- Common methods of funding development and some sources
- Structuring the documentation required
- Risk and reward in a joint venture partnership and the legal frameworks and documentation
Chair:
Dan Mitchell, Planning Director, Barton Willmore, now Stantec
Speakers:
Nick Pinder, Partner, Eversheds Sutherland
Lucy Chadwick, Partner, Eversheds Sutherland