Week Eight : Property Evaluation and Economics

This is the part that most of the investors or developer most care, because by using Pay Back Period (PBP) we able to find out when we will reach the break even point which can be define as the period we recover our money spent on that development. Besides that, we also can use Average Annual Percentage Rate of Return (AA%RR) to calculate when are we going start to collect profit. Other than that, there are also many other methods like Net Present value (NPV) and Internal Rate of Return (IRR)need to be calculate too.

Week Seven : Building Refurbishment

Before attending this class, I used to think the cost of demolition and rebuild the whole building will be much more higher than refurbish whole building. And in Sheffield, contractor and developer, they will choose to to  demolition and rebuild the whole building rather than refurbish the whole building, this is because redevelopment is take place to maximize the investment potential and profit, and there is some problem and risk need to be considered by choosing refurbishment.

1. The building can be different to the information on the original drawings.
2. Access can be difficult, particularly for large pieces of plant and equipment.
3. Contingent of unforeseen works.
4. Damage and mess
5. Interruption or disruption of core business
6. Health and safety to occupiers and the public.
7. Poor quality construction and use materials below modern standards.
8. Difficult to bring the building up to thermal and fire safety standards.

Week Six : Sustainable Development

On this week module we have learn about Sustainable Development, it is a development that meets the needs of the present needs, There are few important sectors which are vital for our development proposal.  Social, Economy, and Environment is the key factors to succeed in our development proposal in Matilda Street.

And I finally realize green building does not consider a part of sustainable, because green building is refers to a structure and using process that is environmental friendly.

Week Five : Market Analysis & Market Appraisal

On this week, we learn about marketing. Before we start to redevelop the site we have to ask our self:

What exactly is the product or service you hope to provide? 
Who do you expect to buy this service or product? 
How will you find them? 
How will you approach them? 
Are you sure that there are sufficient customers inside the area where you can work profitably? 
What is your competition and what can they “do” to you?

although it might not be accurate, but at least it was a rough figure, with these information, we able to decide whether the project is viable or not before we start the project .

Beside asking those question on the above, SWOT analysis or PESTLE analysis are been advised to be use to for in this assessment, by using either one of the analysis will help us easily found out is the project is viable or not to be start.