Production of Development Appraisal - Pre Contract Phase of a Construction Project - Engineering Assignment Help

Assignment Task :

Learning outcomes 

 A1 knowledge and critical understanding of the production of a development appraisal

A2 knowledge and comprehensive understanding of the techniques used in the provision of cost advice provided during the pre-contract phase of a construction project

A4 knowledge and comprehensive understanding of the impact that sustainability has on construction projects through the use of value engineering and life cycle cost exercises

B1 define, investigate and analyse commercial aspects of a construction project encountered during the pre-contract phase

B2 appraise possible solutions to issues relating to commercial aspects of a construction project encountered, during the pre-contract phase

C1 integrate theory and practice to allow appropriate recommendations to be provided on matters relating to the commercial aspects of a construction project during the pre- contract phase

D1 communicate effectively with stakeholders in the context of commercial aspects relating to the pre-contract phase of a construction project 

Scenario A developer wants to purchase a site within the business district of the town centre near a railway station to develop a six-storey office complex. A residual land calculation was carried out and the cost to acquire the land was established as £12 million. 

The site is a freehold site and with planning permission. 

The developer is currently negotiating a contract with a management contractor and wants to be assured that they will be receiving value for money for the proposed project. 

A top priority and project requirement is to achieve an excellent BREEAM rating with minimum running, repair and maintenance costs to ensure that the building is let for a high rent. 

The developer is also seeking to receive a return on their investment as soon as possible and therefore looking for advice on alternative funding options for the project. 

The project details are as follows: 

Grade A specification offices designed to meet the energy efficiency requirements of a modern business. 

Gross floor area 18,000m2 Lettable area 90% Required yield 7% Anticipated rent £500 per m2 Target Construction cost £3,800 per m2 Construction period 3 years Finance rate 4% Land Cost £12M

Task Write a report to your client, incorporating the following items: 

a. Produce a residual profit calculation for the development. 

b. Carry out a sensitivity analysis on the residual profit to identify those risks specific to the project. 

c. Include a critical evaluation of the factors to be considered to achieve an excellent BREEAM rating and meet the developer’s requirement for minimum running, repair and maintenance costs. 

d. Advise the client on alternative funding options for the project. 

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