The key aspect of any development project is to seek to ensure that it is financially achievable and viable. DEVALIGN offers a range of Due Diligence and Project Reviews services which will assist its clients to understand the expected costs, process timeframes and revenue expectations from projects of all sizes and scales.
DEVALIGN provides services to support landowners who are keen to realise their development goals for their project, real estate agents seeking to understand the development prospects for a site and investors and buyers interested in purchasing a site to carry out a development project.
Devalign seeks to work with their clients during the site review and acquisition stage to ensure that potential risks associated with a future development project are known and examined before committing. A selection of the key items that need to be reviewed at this stage of the project are as follows:
Sites fit for development are generally defined through their location within an appropriate zone, precinct or local area plan. Sites that are zoned for ‘low-density residential’ uses generally support the provision of detached Housing on individual allotments, whilst sites that are zoned for ‘medium density residential’ uses generally support the provision of townhouses, apartments and terrace-style housing.
Sites that are appropriately-zoned for particular types of development will generally have minimum land size requirements and maximum density allowances. For example, sites measuring 1000m2 in size may be able to support a subdivision of 1 lot into 2 lots in ‘low density residential’ zoned sites whilst a similar-sized site located in the ‘medium density residential’ zone may be able to accommodate four (4) x townhouses.
It is essential to understand the constraints that may affect a development proposal, including environmental overlays (such as flooding and vegetation), access location, earthworks considerations and the location of existing structures on the site.
In the majority of circumstances, new development proposals will be required to connect to services such as sewerage, water supply, stormwater, electricity and telecommunications. Devalign works closely with partner civil engineers and authorities to ensure that there are no issues with a project being able to connect to all required urban services.
Prior to entering into what may be your biggest financial commitment that you make in your life, the Devalign team seeks to engage with clients and their development partners to critically examine the feasibility of a project before it commences. This is quite often conducted during early searches on a potential site or within a formal due diligence phase that is agreed with the prospective developer and the seller. During this process, all known costs (i.e. land purchase price, Council application fees), estimated costs (i.e. civil works construction, building retrofits, infrastructure charges) and other project costs (i.e. allowances for contingency, holding costs, interest repayments) are detailed and compared to the profit expected to be obtained upon realisation of the completed project. Oversights or incorrect estimations of expected costs at this stage will often be detrimental to the overall success of the project.
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On behalf of all our team at P2P Projects, we are pleased to provide testimony on our experiences in working together with Shane Murrihy at Devalign over the past two years on our numerous projects. Our whole team finds Shane a pleasure to work with, which has primarily been to date to engage him as our Town Planner. Shane makes our job much easier by assisting in managing “More”
GDM Property has commissioned Devalign for a range of town planning items from 150 lot MCU required subdivisions to single lot house setback amendments. Shane’s delivered every time with clear timing and outcomes. What sets Shane apart is his broad understanding of the bigger town planning objectives, ability to apply it to the desired outcome and personal skills to “engage” with the Council upfront thus saving time and wordy reports for no reasons.
We engaged Shane to oversee the town planning phase of a range of residential subdivisions and throughout the entire process, Shane maintained great communication and kept us informed from start to finish. Shane demonstrates high levels of town planning and development knowledge and professionalism; we would not hesitate in recommending his services to anyone looking to start their next project.
Shane was instrumental in supporting our review of several potential development sites for us to purchase to relocate our growing transport business. His knowledge and quick turnaround with information enabled us to understand the risks and issues associated with each property. Shane possesses extensive knowledge of expected costs and timeframes for project delivery, which aided us greatly. Shane is committed and hard-working and I look forward to continuing to work with him into the future.
Shane has a comprehensive understanding of the development process built from his many years of experience in both the public and private sectors. His knowledge spans planning, engineering and project management, as well as costings and feasibility of projects. This extensive skill set allows him to professionally manage and navigate the multi-discipline environment associated with private land development, or government projects.
When looking to purchase land for the first time, we engaged Shane’s services to give us peace of mind about what we could do with the property and what other developments were under consideration in the area, specifically a parcel of land that was bordering our block. Shane made the process simple and easy, guiding us through each phase of the development process, ultimately leading us to build our dream home.