DEVELOPMENT APPRAISAL BID PLAN

DEVELOPMENT APPRAISAL BID PLAN

QUESTION 1 (a bid report for developer)

Introduction

Since, it is obvious that property appraisal also required intense analysis to reach at the investment decision. This is because the property development is similar to all other economic activities by providing the demand and supply characteristics for the real estate market (Balachin, Issaac and Chen, 2009). Demand here has broad definition, since property demand in the market cannot be attributed in the right way. Therefore, the here the demand means that the space to work in, to live and to provide space for leisure, and recreational activities, and to operate businesses from. Hence, the importance of property appraisal is very much obvious before proceeding to the acquisition or sale of any property. Moreover, the process of property development i.e. buildings erection incorporates the various factors of corporations, without which it is not possible to undergo any development (Baum and Crosby, 2008). Hence, labour to manage the building process, capital to finance the cost of the building and particularly site for the land building is required. Asimplified approach to property development envisages a timeline frominception to completion involving a number of stages and this is sometimesreferred to as an 'event sequence model' as follows (Wilkinson and Reed, 2008):

choosing a location;

identifying a site and carrying out a detailed site survey;

providing an outline scheme and appraisal;

negotiating for site acquisition;

design;

planning consent;

finance;

site acquisition;

detailed plans;

tender documents for construction;

construction;

Marketing for sale or letting with potential ongoing asset management.

Discussion

Before proceeding to the important section of the factors which need to be considered for the bidding of the mentioned subject site. It is important to discuss the brief information regarding

the site and then to discuss the important legal, political, physical, economics, and social issues with to the Petersville.

The location

The site is located in a town of approximately 190,000 residents at the northern end of the town centre. Petersville is a reasonably affluent suburb of a larger conurbation, with below average unemployment. The main train station is approximately half a mile south, but the site benefits from a considerable number of bus routes. The site is highly visible, being on the one-way road system around the town, and it potentially forms part of a larger development site.

Site description

The site is located to the north of Kings Road, opposite the northern end of St Peter's Way. It adjoins a vacant office building to the east and a housing estate to the west. The northern boundary adjoins the rear of two-storey, mainly terraced, houses. Therefore, before making a bid the developer must consider the following important factors:

Economic

When it comes to initiation of any project in any region of the country or across the globe, it would be good practice to go through the certain economic issues currently a particular town, city, or a country face. These issues might range from employment, credit issue, and the income of the consumers. Here, the residents of Petersville have the unemployment rate below the average. It means that the currently the most of the ...