DEVELOPMENT ADVISORY

Our Development Advisory service line is not just for small developers new to the marketplace. Our experienced clients collaborate with us to gain access to a greater knowledge pool and additional resources.

We work with internal development managers when they need strategic assistance, insights into a sector that may be unfamiliar to them and simply help when workloads and internal capabilities are stretched and require supplementing.

For example, we are currently working with a developer on a commercial-led mixed-use project in Collingwood. They are an experienced client with in-house development managers who have delivered a number of mid-sized residential projects in Melbourne. The Collingwood project is their first foray into the office market and we are working alongside their internal team to help set strategies for the project, from concept through town planning, advise on consultant selection, builder procurement approaches and provide some independence to their financial assumptions, as well as hold and exit strategies.

Point Polaris has the in-house capability to run Estate Master, Argus Enterprise or custom built excel models for all asset classes. We can manage and update these models throughout the life of the project.

However, If you have prepared your own development feasibilities and financial models, to avoid any duplication of this work, we would review and provide commentary on the key revenue, cost and financing assumptions in your development feasibility and any scenarios that stem from the base feasibility. We can also provide benchmark data from comparable projects we have or are involved in to inform your assumptions.

We can provide advice to finalise your development brief taking into consideration prevailing and forecast market conditions, supply and demand considerations, competitor analysis and key tenant design requirements.

For the project to succeed it is critical prepare a comprehensive Development Brief that articulates the vision for the project, clearly defines the project’s objectives, timeframes, risks and opportunities and financial hurdles that need to be met for the project to be commercially viable. The brief needs to be underpinned by robust market and competitor analysis

We can assist clients in preparing the Development Brief ensuring we have the buy-in of internal stakeholders and that considers all external factors that could impact the project’s ability to achieve its vision and objectives.

From our experience it is important to assemble a consultant team with the right experience and capability in the chosen asset class for the development. Point Polaris can help provide advice and assistance in finalising the right architect for your projects.

Our role as your development advisor will be to provide strategic advice in response to key planning controls and objectives, participating in discussions with the Council and other authorities (as required), attendance at client and consultant design meetings (as required), reviewing and commenting on the scheme design as it develops and verifying this aligns with the key assumptions in your development feasibility.

As with the architect, we can provide recommendations to clients of suitable, experienced consultants across each of the other disciplines required for planning permits. We can also provide you with our standard scope of services for those disciplines on the assumption that you will be procuring the consultant team.

Similarly, we can assist clients in initial discussions with sales agents and marketing consultants. The appointment of the sales agent is critical to ensuring the development brief is meeting market expectations while achieving the maximum financial returns.

We often manage the marketing phase for a client in relation to market collateral, sales contracts, plan of subdivision, display suites etc in conjunction with the marketing agency, land surveyor and conveyancing lawyer etc. We can also work with clients to select the Master Sales Agent.