Identify a piece of potential property for residential development. It can be a piece of vacant land, or a site with an existing building which is ripe for redevelopment. (Note: Please use vacant land, 365A Marion Road, Plympton SA)
Understanding on the eight-stage model of real estate development as demonstrated in the text book, and be able to apply the knowledge and principles learnt in writing this assignment.
From a few possible development options (at least two to three option) based on site analysis and market research, it is required to identify the most suitable development for the proposed site using highest and best use analysis. Appropriate market research and feasibility studies ought to be undertaken to ensure project feasibility. However, you may encounter an undesirable market condition; in this case you don’t have to make it a profitable project. It is preferable for you to have a feasible project, but it is fine if it is difficult for you to have one. What is important is you must provide detailed justifications as to why your project is feasible or otherwise.
In writing this business report, please assume that you are a business development executive working in a property development company, and you are required to present this report to your superior. This report should be written in Microsoft Word. Table of contents, tables, plans, figures, appendices, and references are not counted towards the total number of words in this exercise. Also, include relevant plans, photographs and other illustrative material in the report. It should be double spaced, and spell- and grammar-checked. The report should include a brief executive summary.
Please be reminded that this must be your original work based on your own research, your own thinking and your own writing. (Note: Sample assignment provide are strictly confidential for university use, please do not copy the content and do not follow all the style, personal style to be included.)
This assignment requires to:
• Identify, collect and interpret primary data relating to the identified property [1,3]
• Research on planning provisions, local legislation and other development issues relevant to the subject property, if any [1, 3, 6]
• Conduct relevant market research and feasibility study [1,2, 3, 4]
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