Alpha14 can assist at every stage of the development process by providing specialised property advisory and development management services. Below demonstrates the key areas Alpha14 generally covers in a development project:
Site Due Diligence
Due diligence in establishing highest and best use of site, development feasibility, risk assessment, establishing market absorption, financial structuring analysis, legal review and establishing availability of funding.
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Development Planning & Initiation
- Manage the engagement all necessary consultants for concept stage advice or input including but not limited to project manager, architect, town planner, Geotech engineer, environmental consultant and heritage consultant.
- Develop a concept that is sympathetic to what is in demand in the market and consider all factors such as lot mix, apartment size, level of finish, car parking rations, requirement for common areas etc.
- Prepare development plans and feasibility reports.
- Coordinate initial discussions with the delegated authority to feel out if our direction is in line with what their view is for redevelopment in that area.
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Town Planning & Approvals
- Manage the engagement of all necessary consultants for town planning stage and oversee their reports including but not limited to project manager, architect, town planner, Geotech engineer, environmental consultant, heritage consultant, ESD consultant, surveyor, wind engineer, waste consultant, access consultant etc.
- Complete town planning application, meet and negotiate with all relevant authorities and stakeholders throughout the planning process.
- Attend VCAT and other proceedings as required.
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Design Development/Tender
- Manage the engagement of all necessary consultants for design development/tender stage and oversee their reports including but not limited to project manager, architect, town planner, Geotech engineer, environmental consultant, heritage consultant, ESD consultant, surveyor, wind engineer, waste consultant, access consultant etc.
- Complete design development based on the town planning permit and progress design documentation to a sufficient stage that allows a tender to be put to market to numerous builders to construct the project.
- Establish a tender list and oversee the tender process. Shortlist tenderers and meet with chosen builders to work through establishing the most suitable builder for the project.
- Ensure the projects’ financier approves of chosen builder before having contracts prepared, negotiated and executed.
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Construction / Completion of Project
- Manage the engagement of all necessary consultants construction stage and oversee their reports including but not limited to project manager, architect, town planner, Geotech engineer, environmental consultant, heritage consultant, ESD consultant, surveyor, wind engineer, waste consultant, access consultant etc.
- Attend weekly PCG meetings to oversee and manage the builder and construction from start to finish. Monitor the progress of construction, building adhering to program, any variations that may be foreseen. Do regular site inspections.
- Appoint a body corporate and work through all the budgets and owners corp structure.
- Explore opportunity to use management rights. If suitable, go to market to find perspective operators, negotiate terms and complete contracts.
- Appoint and manage solicitors to act on all aspects of the project. Including but not limited to acquisition, VCAT, construction, apartments sales, lender financial auditing.
- Appoint and manage accountants to act on all aspects of the project. Including but not limited to acquisition, lender financial auditing, compliance of annual tax returns and ASIC requirements.
- Coordination, review and execution of all authority agreements required.
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Financial Management
- Complete feasibility and update throughout project. Prepare financial forecasts including the Budget.
- Create funding plan at due diligence stage of project to check financial viability and seek potential funding partners’ interest. Upon proceeding with acquisition obtain offer from funding partner to complete the project. Negotiate offer, have legal and accounting review completed and refer to the above project for recommendation.
- Oversee, negotiate and recommend to the above project all offers for the first mortgage and senior debt borrowings. Extensive work completed on construction funding. Managing and overseeing a QS being appointed, a report being complete for funding and monthly inspections of site until project completed. Appointment and management of valuer to completing construction funding report and feasibility. Compiling budgets for construction funding and managing these monthly. Manage and oversee every aspect of construction funding being approved.
- Attend weekly management meeting with financiers.
- Maintain proper records.
- Approve and authorise/complete all payments. Maintain all bank accounts, accounting and BAS that the above project requires.
- Comply with regulatory obligations.
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Reports & Dealing with Contractors/Consultants
- Provide reports as requested.
- General Management.
- Manage and supervise the work of all necessary Contractors in relation to the Development Services.
- Use reasonable endeavours to ensure that the various stages of the Development are completed within the time-frame required for the above project.