The fully revised and updated third edition of this textbook provides a comprehensive guide to the property development process, taking readers from initial project evaluation to planning, funding, construction and disposal. The last ten years have seen regional planning apparatus swept away and replaced by new neighbourhood plans and more prominence is now given to financial viability in planning policy and decision making. The uncertainty of the financial crisis and the associated housing crash have given way to a new wave of commercial and housing development, and in this period of growth it is more important than ever to be aware of the risks and opportunities inherent in the property market.This book is an ideal companion for students on courses in estate management, land economics, property development, real estate, surveying, construction, planning and related subjects. The book will also have value for practitioners in any of these fields who as part of their CPD obligations may be looking to refresh and update their knowledge.
About the Author
David Isaac is a Chartered Surveyor and Chartered Builder who came from a background in economics and business studies into the property profession. He has some twenty years of experience in property development, finance and valuation and has project-managed a number of development schemes. For many years now he has been involved in property consultancy, education and research at the University of Greenwich, UK, where he is currently Professor of Real Estate Management, Professor of Real Estate Management in the Department of the Built Environment. John O'Leary is Senior Lecturer in the Department of the Built Environment, University of Greenwich, UK. He is a Chartered Surveyor and worked as a planning consultant for architectural practices prior to becoming a lecturer.Mark Daley is Senior Lecturer and Programme Leader within the Department of the Built Environment, University of Greenwich, UK, specializing in property valuation, management and finance. He is also a member of the Royal Institution of Chartered Surveyors with many years in private practice.
Table of Contents
1. The Property Development Process.- 2. Sustainability and Property Development.- 3. The Market Context for Development.- 4. The Land.- 5. Planning.- 6. Design, Procurement and Construction.- 7. Development Appraisal.- 8. Development Appraisal and Cash Flows.- 9. Risk and Sensitivity Analysis.- 10. Financing Property Development.- 11. The Classification and Structure of Development Finance.- 12. Emerging Agendas.