Development Representation

We advise on developments and the financial viability of schemes, involving the construction of profit sharing arrangements for development schemes and the formation of Joint Venture and Special Purpose Vehicles to carry out development projects.

The JK Property Consultants’ Approach

Each development is different and we are either involved from the outset to identify an opportunity through to its completion and sale or at specific stages to achieve a particular objective for the client.

Below is a comprehensive list of services from which a client can choose, depending on the circumstances of the case:-

Acquiring Lands: Putting together sites for development, either purchase by agreement, innovative joint venture or profit sharing/claw back arrangements, or operating and managing a compulsory purchase order in conjunction with an acquiring authority and determining price and compensation (see also Land Assembly and Compulsory Purchase Orders).

Identifying Opportunities: A strong local knowledge of the area linked with a knowledge of the strategy and policies of the region helps to put together opportunities for developers. The consultancy has experience at all levels, including putting together a competitive bid for a Private Finance Initiative for the Newcastle Estate of the Inland Revenue – about 1.3 million square feet of office space and the consequent management of acquisitions and disposals.

Establishing the Development Scheme: Working with lead architects and other professionals in the design team, we can achieve the optimum development potential of a site that is deliverable in a realistic period.

Financial Appraisal: This will assess whether a project is viable, by assessing risk, carrying out a sensitivity analysis, calculating any shortfall in completed development compared to total development costs and assisting in the negotiation of joint venture and partnership/sharing arrangements.

Supply/Demand Profiles: We will prepare a profile of a sector of the market (employment land and buildings, residential, retail, and leisure uses) and forecast the likely level of demand for space and how to bring it to the market to achieve desired output values.

Development Briefs: Preparation of a statement of the final proposal for the sale, funding or development of the site and from which to measure outputs, claw back and other sharing arrangements.

Marketing Development Opportunity: We can bring sites to the market to attract developer and/or funder interest and negotiating terms for disposal or joint venture or special purpose vehicle arrangements.

Sourcing and Negotiating with Joint Venture Partners: Marketing the opportunity and sourcing from a comprehensive network of contacts who are active in which market and capable of delivering the proposed development, including assessing the competitive tender of bids from developers.

Establishing the Development Team: We can procure the appointment of the architect, cost consultant, project manager, and other key members of the design team;

Development Finance and Valuations: Valuations to meet the financial requirements and in accordance with the RICS Red Book. The consultancy has contacts throughout the industry from major institutions to property companies, development companies, investors and private individuals. We understand what investors are looking for and prepare valuations to meet their needs.

Marketing for Sales and Lettings: On completion a development must be effectively offered to the market. We will liaise with Regional Development Agencies and Economic Development Officers, assess and manage the disposal process to achieve the optimum sale price or letting terms to achieve an income flow, maximise rentals and yields.

Sales of Investment: We can market the sale of the investment and advise on the most appropriate method of disposal (auction, private treaty, competitive tender etc.).

Media

Kevan Carrick writes a weekly column in The Journal, the highly successful morning regional newspaper and is often quoted in other newspapers, periodicals, and on radio and television.

Click here to read the articles...

New Bridge

JK Property Consultants assisted Sunderland City Council in making the application for Department of Transport approval to fund the Wear River crossing

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Northern Way discussion

Kevan Carrick joined The Northern Way in a discussion at the House of Commons...