How We Add Value Series - Optimisation
Our first in our series of one minute videos talks through key concepts in our no debt property development model.
When we release a development for capital raising, we sometimes get comments on the poor quality of plans that we release. Our process is to option sites and that means options sites with a development improvement in place. A previous developer has already gotten the approval and often it’s only to sell the property with an option. So, the plans are not the best quality. It’s then our optimization team’s job to go through the plans and squeeze the most out of them they possibly can.
This could mean squeezing 4 percent more GFA out of the developments floor plan or it could mean utilizing the void space that our design team saw in the Paddington Street development. It even means having a Barney in the office chucking our plans out and throwing them in the bin – like we did with Rosedene Street.
All of this is part of our optimization team’s process, and that gets the best results for our investors at the end of the day. And that’s optimization.