The process explained:
To establish the marketability of a potential development, detailed studies need to be conducted of the local economy including population growth, migration, employment levels, trends and local legislation. Like any great product, the key to its success is understanding the market.
There are 2 key factors that will determine the marketability of the land:
a) Location of the land and re-zoning potential
b) To ensure that all projected costs, including infrastructure, will be in-line with current and future market values
Once the land has been identified, extensive due diligence must be undertaken to ensure that the land is free and clear of any debts or claims. This process can take a number of years to complete.
The most important aspect of land development is having the experience and ability to realise the potential of what the land can become. To turn a vision into reality you must engage professionals of the highest calibre who can share and realise the vision including: Engineers, Master Planners, Project Managers, Architects, Legal, Designers and many more.
No matter who you engage every great orchestra requires a great conductor to ensure that the music is played the way it is written. Ultimately the developer must be the final decision maker who understands every step of the development process including the technical know how of what is required to turn the vision into a reality.
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