A Site for the Study of a Property Development Project

Introduction to Property Development 1
<University>
Introduction to Property Development
By
<Your Name>
<Date>
<Lecturer’s Name and Course Number>
 <Your Name> Year 1 of 18

Introduction to Property Development 2
 <Your Name> Year 2 of 18

Introduction to Property Development 3
Introduction to Property Development
Executive Summary
This report provides an overview of the site, which is to be assessed to determine the
best-proposed purpose to be established on. It undertakes a HBU assessment in which the
proposed uses are examined by the four factors of HBU including physical possibility, legal
permissibility, financial feasibility, and maximum productivity. The report also provides a
SWOT analysis of the proposals and identifies the proposed use for the site. Additionally, the
report provides a financial evaluation, profit analysis, and recommendations that can help the
developer decide on the exact use to be implemented on the site.
1. Site Summary overview:
Planning zones Overlays Dimensions Services on
site
Relevant
authorities
Council info
It is an area
planned for
residential
construction
According to
the council
planning, the
site cannot be
affected by
anything like
floods
The site sits on
an area of 1
acre. It is in
square form
The site is
close to a main
water supply
line and is in a
highly
populated area
The authority
responsible for
approving the
building or site
is the city
council
division
The council
divisions
agents are
distributed
throughout the
town in which
the site is
located, thus
information
regarding plan
and
 <Your Name> Year 3 of 18

Introduction to Property Development 4
construction
approvals can
easily be
accessed.
2. Highest and Best Use Assessment (HBUA)
To establish an estimate market value of a property, appraisers are usually required to
perform a highest and best use assessment of the property. This assessment is very important
because it does not only put into consideration the current use of the property but also considers
its potential value if other alternatives are used (Jawaid, 2016). Narrowing down of all the
possible alternatives to only one HBU will call for an assessment of the physical possibility,
financial feasibility, legal permissibility, and maximum production of the site.
Physically possible
Basing on the size, topography, water table, weather patterns, shape, soil type, and
conditions of the site, there are several developments that can be made on the site. Among them,
include construction of residential houses, multi-storied apartments, offices and a hotel. 2000
square meters are big enough to accommodate all the listed developments and can as well enable
the developer to make optimum improvements if needed. Demolition of the already existing
dwelling can also create more space to construct standardized well-developed residential
dwellings. It is logically impossible to develop a building with 2500 square meter base on 2000
square meters (Baba et al, 2018; Chien, et al., 2019). More so, the site comprises of a deep water
table making it easy for the developer to construct a shallow foundation for the residential houses
 <Your Name> Year 4 of 18