Author: Timothy HavardPublisher:
ISBN: 9781859461013
Category : Real estate development
Languages : en
Pages : 442
Book Description
'Contemporary Property Development' is an in-depth examination of the process of developing property for commercial gain. Written with construction and property professionals and students in mind, it provides both a basic level of information and also the opportunity to acquire more advanced skills. Explaining each stage of the development process in detail using worked examples, it ends with three case studies drawn from relatively small residential projects to much larger commercial developments that link the theory with the practice of development. The scope is comprehensive, offering a solid introduction to all aspects of development in the UK. Part 1 takes a detailed look at the background to property development in the UK, discussing development routes, the players in the market, the property markets and the investment markets. Part 2, Development Inception, explains how projects get off the ground. Part 3 looks at finance, in particular, retention financing, risk reduction, and tax.Part 4, Project Appraisal, presents the nuts and bolts procedures that developers use in practice to assess project viability, including the basic, cash flow, accumulated cash flow and discounted cash flow appraisal models, pointing out their relative merits and sensitivity. Part 5 discusses procurement routes and Part 6 highlights the post-construction phase. Part 7 analyses the issue of risk in property development, how to identify and mitigate it using common sense techniques. Finally, Part 8 describes real life case studies in depth to show how the process works in the real world. 'Contemporary Property Development' reflects recent marked changes in the industry. Traditional roles have changed or blurred and the end market is volatile, with user requirements changing rapidly. At the same time, development has also become more accessible to participants from a wide variety of backgrounds, particularly architects, whose design creativity puts them in a unique position to influence the end product so as to meet both the requirements of an increasingly demanding market and the wider needs of society as a whole.
