How a Perth Property Developer benefited from professional Project Management help

How a Perth Property Developer benefited from professional Project Management help

How a Perth Property Developer benefited from professional Project Management help
A Perth Property owner recently approached DF Partners for professional advice on Project Finance and Project / Development Management Services.
The proposed development consisted of fifteen (15) residential apartments in Perth WA. The client has owned the site for several years during which time a DA obtained for the 15 apartments.
Issues
Following a protracted and costly design and approval phase on the development the owner realized they had did not have enough experience to professionally project mange the remainder of the development to completion.
Lee Pennington was engaged to complete a due diligence and financial report on the project. The key findings of the report included:

  • The development feasibility was sound with significant additional profit available;
  • Existing team of consultants required clear direction, co-ordination and instruction;
  • The creation of Development Program and financial budget was required;

Scope
The client enthusiastically adopted all recommendations contained within the above mentioned due diligence report  and immediately engaged DFP under the following scope:

  • Ongoing management and financial reporting of actuals to budgeted cash flow
  • Sales and Marketing Co-Ordination;
  • Tender and negotiation of Construction Contract;
  • Instruction of Bank appointed QS and Valuation firms;
  • Development and Project management through to practical completion and settlement of sales contracts

Results
“I would highly recommend Lee to anyone with a development project who lacks expertise and is time poor.  His vast knowledge, expertise and experience have helped drive my project at a rate that has far exceeded my expectations and I only wish that I had engaged him from day one!  He has given me confidence as a first time developer and I look forward to working with him on my next project from the very start.”

Jason Matthews, Director,  JP&SA Matthews Tiling

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