Property Development Process
The property development process requires extensive planning with attention to detail. To ensure a smooth process, your development project must be managed correctly in order to minimise potential risks. By selecting a competent project manager and utilising expert consultants, you can save money and minimise unwanted issues from arising throughout your property development process.
For any one project, Ultra Property coordinates over 10 different consultants including landscape architects, town planners, civil and hydraulics engineers and architects/building designers. We’re here to help you tackle the hassles and headaches whilst still giving you full control of your property development project.
Below is a brief outline of the property development process.
1. Project Vision
Before taking part in any project, you need to have a project vision. This can be as simple as to grow your property portfolio, or to purchase investment properties at a discounted price.
2. Finding a Site
Finding the right site with the right location is one of the most important stages of a property development process. The site location and the council zoning will determine the type and number of dwellings that can be constructed on the site.
3. Due Diligence
This is where an extensive study of the site is conducted in order to minimise risk. The study can include researching sales data, soil type testing, and/or determining whether the property is subjected to flooding. Without a thorough due diligence, it is more likely that unfavourable issues may arise further down the track.
4. Schematic Design & Feasibility Study
Our design team and town planners are experts in their field and most importantly they can determine the viability of your project in the early stages of the property development process. Schematic drawings including floor plans and elevations can be made available to determine different design options. With this information, the preliminary feasibility study is prepared for consideration.
5. Purchasing the Site
Ultra Property has been involved in many negotiations and transactions for real estate. With the skills, knowledge, market data and support from leading real estate agents, we can assist you in negotiating and obtaining the best price possible for the site. Therefore, you will never pay over the market value.
6. Development Approval (DA)
Our town planners have extensive experience with Brisbane’s smaller property developments to some of the city’s most iconic towers. With their knowledge, they are able to determine and advise what documents are required in order to fast track the approval process.
7. Building Approval (BA)
Once development approval has been given, we will work closely with our builders, engineers and building certifiers to prepare full documentation for the tendering selection.
8. Tender
Ultra Property works closely with an experienced panel of quality assured builders. We assist in selecting the most suitable builder, who can build at a fair price, to the right project, at the highest quality of workmanship.
9. Marketing
We can also assist in the sales/marketing and rental of the project. We have access to competent real estate agents and project marketers who specialise in the area. This ensures that the service and price achieved for the property are the highest and best possible for the current market.
10. Construction
During construction, Ultra Property will conduct regular site visits in order to oversee each and every construction stage to ensure that quality is achieved to its highest level. We maintain a close working relationship with the builder or site supervisor to ensure that the project is completed on time and on budget and that every detail is upheld to the highest degree.
11. Completion – Sell or Hold
Depending on your investment strategy, once your project is completed Ultra Property and our experienced real estate agents can work together with you to market your project to potential buyers. However, if you are planning to hold your investment in order to gain rental income, Ultra Property can assist you in finding the right managing agents and tenants to minimise vacancy and maximise rental yield.