Intergrated Project @ Matilda Street, Sheffield
Friday, 8 August 2014
Thursday, 7 August 2014
Preparation of development proposal
My Proposed of Budget Hotel
·
Three
storeys of the existing building will be refurbished to budget hotel and will
be rented.
·
Hotel
is a commercial establishment providing lodging, meals, and other guest
services.
Throughout these ten weeks of practise this development
proposal, I learnt that teamwork is very important in accomplishing a task as
it can help to complete the task efficiently.
I will engage effectively in all group work of my future career
as construction industry emphasize on team work. This has improved my personal
skill of management
and information management as required under CIOB professional competencies
(Hill 2001).
Saturday, 26 July 2014
Week 8: Capital Investment Appraisal
In this week,we had went through an an exercise to calculate the capital investment appraisal given by Mr. Sam Moorwood by 4 methods which are payback period, net present value (NPV), average annual percentage rate of return (ARR) and internal rate of return (IRR).
Figure 1 is the sample of the cash flow for project comparison. We had been discussed all the project's capital investment appraisal during the seminar.
I can now consider the viability of such development by using components of residual valuation. I would like to tend to favour the project which had higher IRR, with shortest payback period as client first consider. It is very important that Client know when the invested development will starting making profit and rate of return of the development.
I can now consider the viability of such development by using components of residual valuation. I would like to tend to favour the project which had higher IRR, with shortest payback period as client first consider. It is very important that Client know when the invested development will starting making profit and rate of return of the development.
I also learn that cost and values is definitely related to the site and location factors, market conditions and also policy directions and all these would help a lot in monitoring the project in a long run basis.
To ensure the client is undertaking a profitable project, I would like to pay more attention on valuation aptitude act as a professional quantity surveyor.
I have applied these methods into my assessment to determine the viability of Matilda site for budget hotel. Although I still unable to produce a detail calculation for investment appraisal but I can perform better in the future through this lesson.
Thursday, 17 July 2014
Week 7: Building adaptation or Refurbishment
In Malaysia, demolish and rebuild the whole building is general based on client's needs and for the profitability intention. Whereas, refurbishment is much more popular than redevelopment in UK because refurbishment can achieve environmental sustainability through simple and low cost improvements but redevelopment is not workable. Based on ICE (2011), UK policies encourage their communities to refurbish the property instead of demolish and rebuild. This is because they are much more aware of the environmental and sustainable issue compare to Malaysia.
Besides, industry has a long way to go towards cutting carbon emissions but there is much that can be achieved via refurbishment. For proposed development project at Matilda Street, it should be refurbishment only because it’s under conservation area, which conserved under Sheffield City Council.
It was no doubt of my judgment to refurbish the proposed development now, not only it is environment friendly, but also cost saving. In addition, CIOB encourage refurbishment as refurbishment can bring benefit and value to the building and the society.
However, there a lots of defects on the existing building such as ceiling collapse, roof leakage, wall cracking and etc. The cost against the defects should be aware.Therefore, a proper site survey should be carry out and identify all the risk through the building. I had learned to create a table to identify the potential risk that could happen during construction stage and when develop a project, follow by the impact and solution. Table below showed the risk assessment.
References:
CIOB, 2011' CIOB Buildings Under Refurbishment and Retrofit' viewed 21 July 2014, http://www.carbonaction2050.com/sites/carbonaction2050.com/files/document-attachment/Buildings%20under%20Refurb%20and%20Retrofit.pdf
Friday, 11 July 2014
Week 6: Sustainable Development
Sustainable development is a consideration when we consider for the propose development.As I know sustainable building is a green building. From this seminar, I get to know that sustainable is not only about green building but it covers wider scopes and consideration such as economy, society and environment.
Besides this, I learned about definition of ‘sustainable development’ which is a successfully development without compromising the ability of future generations while fulfil all of client’s requirements.I have reviewed that technical, sustainable and economic viability are all vital in a development project.
In summary, sustainable meaning building that could bring benefit to the future generation.I have a critical thinking on the consequences and damages approach that can be caused by unsustainable development. The UK government had place sustainable into the National Planning Policy Framework. Sustainable development is practice in UK and it should adopt by Malaysia government and enforce it to every building development.
Reference:
Unknown, 2014. 'what is sustainabledevelopment', viewed 13 July 2014
http://www.sustainableni.org/sustainable-development/index.php
Thursday, 3 July 2014
Week 5: Marketing Analysis and Development Appraisal
Before this sessions, I’m be uncertain
between few development proposal include restaurant, office and student accommodation.
I’m confusing although I had done comparison of these proposal, after this
seminar, I found out that two useful method which SWOT and PESTLE analysis. After i had go through these analysis, I’m choosing budget hotel as my proposal due
to the high possibility of maximize the potential for Matilda Street site and sustainable
development.
I understand that a good market analysis
and development appraisal will definitely help out in deciding whether a type
of development chosen is viable.I found that, the Matilda Street project
is free from political problems. However, the social and environmental factors
highly influence the demand of the customers toward the product supplied from
my project development. So, a proposal strategy should be encouraged in this
project.
I have practised SWOT analysis in the seminar with my groupmate.
Figure 1:SWOT analysis for mix-development.
Tuesday, 24 June 2014
Week 4: The Planning System
From this seminar, I realised
that there are many rules and regulations. Mr Sam had lead us to consider about
the site location, zone and planning permission by using the local plan of
Sheffield City Council. I had found out that the land is under the conservation
area and it is categorised under 'flexible use area'(figure1) which there are certain
restrictions of the site. The industry building, warehouse and storage building
are not acceptable. (figure 2)
I realised there are a
lot of restrictions that we should be future considering to our propose
development.
Figure 1 conservation area (source from Sheffield City Council)
Figure 2 flexible use area (source from Sheffield City Council)
This table show that we
cannot simply choose type of development but refer to relevant policy. Core
Strategy and CIQ also influence the choice of development with further detail
description.
References:
National Planning Policy
Framework. (n.d.). Retrieved June 26, 2014, from Communities and Local
Goverment:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/6077/2116950.pdf
Sheffield
City Council, 2014. ‘Conservation area’ viewed 27 June 2014’ https://www.sheffield.gov.uk/SCC-Home/planning-and-city-development/urban-design--conservation/conservation/conservationareas
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