8 key professionals who contribute to a successful site development
- Solicitors, Architects, Planning Consultants, Structural Engineers, Quantity Surveyors, Finance Brokers, Insurance Brokers and Project Managers
- The importance of an experienced, unbiased 3rd Party or Friend’s opinion should not be overlooked
- Make sure there’s experience throughout your team, insight from those that have been there before is invaluable
As the developer seeking professional assistance, the consideration at the forefront of this process should be the experience of the developer in question. Is this sufficient for you to manage the project single-handedly? How much assistance is required?
Managing a proposed development is never easy and determining effective contributors in the right areas will be key to the success of the project. Which professionals you may require will depend on your strengths and weaknesses as a developer, as well as their confidence within specific areas.
Choosing a solicitor with experience in housing developments makes a real difference, solicitors are just like any other business, they all have their areas of expertise, the solicitor you used to buy your house will not necessarily be experienced in a housing developments.
Seeking legal advice throughout the development period is important as this informs what can/cannot legally be done, thereby significantly impacting the decision-making process.
Architects are also very important professionals to consider and need to be selected carefully While a developer may have the vision, he/she can sometimes lack the architectural expertise needed to understand the site and determine the viability and suitability of various design options. An architect can assist in evaluating this perceived potential.
Planners are arguably sometimes the most integral professionals in the development process, as they inform the developer of which developments are permissible on the land. They will also often assume control of the various applications and negotiations with various councils to gain specific rights to proceed with various development options. Council policies are quite onerous at times and generally require a specific professional focus.
There to advise the Architect as to the suitability and viability of various design plans.
Quantity Surveyor will be in charge of the financial side of things and ensuring that the Architects designs and plans are financially viable.
It’s all well and good to have an idea for a prospective development; however, the question of feasibility of a development is an important one. This is where financial advice in determining whether a development is actually profitable comes in handy. A Financial Broker can also assist in providing access to funding, and will often know who can fund what type of project and what margins need to be in place, and with what supporting evidence.
Developments, especially large-scale ones, may prove exceptionally costly and a developer can seldom put up all the required funding for the existing real estate and the redevelopment. Through a sound relationship with a financial professional, the developer is able to obtain the required leverage.
An Insurance Broker will help to provide cover for all main parties involved in a development, not just the developer, providing protection to the building, the site itself, as well as the activities that occur on the site (the physical redevelopment itself).
While a developer is often able to act as Project Manager, such a professional helps bring about strategic alignment, ensuring the correct delivery and the achievement of the ultimate end goal, a successful development.
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