1) Knowing The Market
Identifying who your target audience is in the current market is extremely important. Knowing what type of people they are (singles, young couples, families, elderly etc) and what their values are become paramount if you are wanting to give yourself the best sales opportunities possible. For example, families may want to buy a unit or townhouse that is in an inner-suburb, but still has plenty of floor space for a comfortable family lifestyle and breakaway areas. Contrastingly, downsizers looking to enter a coveted postcode may be seeking a more rich and luxurious style of living where space could be exchanged for quality building fabrics and materials.
2) Finding A Strategic Site For Development (Macro & Micro)
Knowing what to look for in a development site and its attributes are just as important as knowing the market you’ll be developing for as they go hand-in-hand. Macro-suburban features such as nearby public transport, green spaces and parkland, road accessibility, infrastructure developments and proximity to the CBD may all be contributing factors in increasing the potential value of your development. Drilling down even further into micro detail such as street location or corner block sites can also have an impact, as the street may be quieter, nicer or yield better potential on a larger corner block.
3) Zoning Restrictions
Local council zoning restrictions or development covenants may hinder you from reaching your development’s full potential. This stage can be complex, so it may also require a town planner – of which we can appoint for you. Their role includes giving feedback during the design process, development applications, handling objections and appealing cases in court.
4) The Type Of Development (Units/Townhouses/Apartments/Commercial)
Now that you have a decided on your target market, a strategic site and understand the zoning restrictions in the area, deciding what type of development is right for your project will be crucial to achieving your goals. We communicate these specifics to the architect and other consultants involved on your behalf, to help manage the design phase smoothly.
5) Feasibility Studies
We do our due-diligence to support your decision making through our in-depth feasibility studies. We have access to industry leading experts in finance and real estate to ensure that the property that you want to buy and develop yields a healthy return.
