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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).

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: cash flow

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 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.

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

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

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.

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

Week 3: Site Analysis and Construction Technical Issues

After survey and data collected from the site visit on Matilda street, we had sit in a group and discuss what the development proposal suitable is. We had some idea on develop a restaurant, office and student accommodation. However, we do not have a conclusion because we do not have sufficient information and the knowledge of the local authority’s requirements of that piece of land. This is because the construction law and regulations are depending on the country as we are not common with it.

Therefore, it is important to have a future analysis on the site location and also the construction technical issues in order to achieve the success for the proposal development. 

In this seminar, Sir Tim Jones has discussed about the site analysis and the relevant construction technical issues that we have discovered from the site visit. Tim has taught us a different thinking to review the project. we can come out with a development idea and brainstorming after regarding for the potential issue and problem.

From this, I should focus on not only the existing defects of the building but also the problems that I might face in the redevelopment or refurbishment process. Flood potential is an important issue in Sheffield since serious flood had occurred in the past few years. Site analysis should include risk assessment to reduce the risk impact. After all, I have a clearer view and thinking about how to complete my assignment. This has expanded my way of thinking whether in my career or my life.  

Week 2: Matilda Street Site Visit

This week we had conducted a site visit of an existing building located in Matilda Street. The property is owned by Sheffield Hallam University and used as storage currently. Our assessment is to prepare a development proposal of this site to increase the property value.Site investigation is carried out as I work in a team with my group members.

Figure 1: Existing building

Figure 2: Site Layout

We were given a laser distance measure and fiberglass measurement tape to do indoor and outdoor measurement. However, I have faced problem to get accurate dimensions and lacking time to do measurement because I was not familiar with the device, hence we cooperate with other groups to double check and share our information.

Several building defects were detected during site visit and repair actions should be taken to recover the work if refurbishment development is decided later on.

 Figure 3: minor defect (cracking on the wall)

We have been assigned to do inspection the internal building and also the conditions of the site for further redevelopment or refurbishment. I have visited to a construction site during my internship by checking on the progress of the construction work. But it is different from this site visited which the concern on the building and the environment around as well.

From this, I noticed that is important to do research of survey templates and prepare an investigation list. I should have well prepared by list down all important information for data collection during the site visit to avoid time wasting. 

Week 1 Assessment Brief

Mr.Weatherall, Dave whom one of the leader module give out some guideline about the Integrated Project Assessment in this first lecture. The assessment will be distributed into two parts as Part A and Part B, it is carry 60% and 40% of marks respectively. We were asked to maximize the investment potential of a development and prepare a proposal by consideration of design, property market, legal and financial issues in relation to the Matilda Street development.

From the seminar, I had learned a useful online presentation that I never use before called Padlet. We asked to develop our assessment by Padlet Wall to present a client brief which enables us to post assessment to the web, in the same time; it can help us gather feedback from a wider audience. I found that Padlet is the great way to express my ideas and information.

It is my first time to use Padlet and Blog for academic purpose as a way of communication and Padlet wall is totally a brand new thing for me. After study from the video, I realised it is an effective platform where i can share information, brainstorm ideas. This module enables me to get better at making my future proposals compelling by this real life case study.

how to use padlet.