In his continuing series of articles, Gavin Taylor, director of Metropole Projects, takes readers on a step by step journey through the process of property development and reveals how to become one of the success stories.

Following on from Part 1 – Getting started in property development – Gavin explains what property development is all about, what it takes to be a successful developer and why development is a great wealth creation vehicle.  [Read more...]

The development process has become more complicated over the last few years due to the increased influence of the state government, local councils and various interest groups in the town planning process. The building process has also become more complex. 

A smart developer understands that they can never know everything there is to know in order to produce a profitable development. In order to complete a successful project you will need to assemble a highly skilled group of people to work with, and it is your responsibility to oversee the entire process with them – to be the producer of the project.

Your team’s extent and nature will depend upon the type of project you are involved in and the local political climate in which you intend to work. As the developer, you will make all of the final decisions based on the qualified input of your expert development team. [Read more...]

In the sixth instalment of his in-depth series on property development Gavin Taylor, director of Metropole Projects, explains how to source and secure the perfect site for your project in order to maximise potential profits.

Securing the perfect property is critical for the success of any investment career. Acquiring a piece of real estate that ticks all of the right boxes according to your investment strategy and long term goals is of paramount importance.

Of course when it comes to property development, site selection is even more essential as a large portion of your profit margin will be determined as soon as you make that initial purchase. [Read more...]

Once you understand the importance of securing a development site in the right location and you have the big picture firmly in mind, including your target market, it’s time to move from theory into practice.

Finding the perfect piece of dirt to suit your project is going to take time, patience and a lot of homework.

Rest assured though, the financial rewards for all of this hard graft are outstanding once you find the right site. [Read more...]

Many property investors who’ve collected one or two properties for their portfolio, at one stage or another, will decide to “dabble” in property development.

They see this as the next phase in their career and determine that with the bit of knowledge they have gained buying and selling real estate, they’re all set for a successful transition into the world of planning, design and construction.

The fact is, getting involved in property development means entering a very challenging adventure; there are many ups and downs, like riding a roller coaster that leaves you wondering when the next highs and lows are coming.

In this segment of our series on property development, I will explain some of the more common dilemmas that can plague even the most professional, seasoned developer and discuss ways you can reduce such risks. In giving you this knowledge, hopefully you can be prepared for the bumps in the undeniably challenging road that you will face along the development journey.   [Read more...]

Many investors approach property development with rose coloured glasses, but in order to minimise your risks and maximise your chances of turning a good profit (remember you want at least 20 per cent), as a developer you must understand the potential risks associated with the development process.

Whilst we have already considered problems associated with reducing acceptable profit margins and taking on too much too soon, here are some other common dilemmas developers can face on any given project. [Read more...]

Undertaking a property development requires many months of preparation before you actually get to see your hard labour bare any fruit.

As we’ve already covered in previous articles in this series, there’s the groundwork of obtaining finance, sourcing and securing the perfect site and rounding up your “A” team of professionals to help you throughout the journey.

Perhaps the most important element of all the preliminary work you must do with any property development project is the feasibility study or feasibility studies (as you will have to do a number of them).

In this installment of our series on property development, I will explain how to conduct a reliable feasibility study and why it is critical to do so with as much accuracy and forward planning as possible. [Read more...]

One of the biggest hurdles faced by any property developer – whether a seasoned veteran or a green beginner – is the bureaucratic maze known as the planning permit or development approval process.

Oftentimes, those dipping their toes in the unknown waters of property development become disheartened at this stage of their preparation as their application to the local authority sits gathering dust, unheeded in some town planner’s in-tray for what can seem like a lifetime.

Furthermore, the fact that town planning legislation is constantly changing and can be difficult to navigate sees many budding developers simply throw in the towel and admit defeat as they become entangled in reams of red tape.

In this instalment of our series on property development, I will walk you through the planning permit process, shedding much needed light on where you should seek professional help and how you can best deal with councils and town planners in order to get your project from a concept on paper to a property you can profit from. [Read more...]

Town planning consultants are professionals with a qualification in town planning or urban planning. Those in private practice have usually been employed by local councils or planning organisations for a number of years, meaning they know the process and understand how it works from the other side of the counter.

If in the past they have worked in the municipality in which you are planning to develop a project, they may also know some of the senior staff at the council as well as the elected councillors. This can be of great benefit as they should know who is easy to get along with, who is going to be a problem and who is going to require special attention.

A town planning consultant will assist you with your project in the following ways; [Read more...]