One of the biggest hurdles faced by any developer – whether a seasoned veteran or a green beginner – is the bureaucratic maze known as the planning permit or development approval process.

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Undertaking a property development requires many months of preparation before you actually get to see your hard labour bare any fruit. As we’ve already covered, there’s the groundwork of obtaining finance, sourcing and securing the perfect site and rounding up your “A” team of professionals to help you throughout the journey.

Perhaps the most important element of all the preliminary work you must do with any property development project is the feasibility study or feasibility studies (as you will have to do a number of them).

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Many investors approach development with rose coloured glasses, but in order to minimise your risks and maximise your chances of turning a good profit (remember you want at least 20 per cent), as a developer you must understand the potential risks associated with the development process.

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Getting involved in property development means entering a very challenging adventure; there are many ups and downs, like riding a roller coaster that leaves you wondering when the next highs and lows are coming. So how do you plan for success and manage risk to minimise the chance of failure?

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In the seventh instalment of his in-depth series on property development Gavin Taylor, director of Metropole Projects, explains the importance of researching your proposed site and conducting a pre-purchase feasibility study.

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In the sixth instalment of his in-depth series on property development Gavin Taylor, director of Metropole Projects, explains how to source and secure the perfect site for your project in order to maximise potential profits.

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In the fifth instalment of his series on property development Gavin Taylor, director of Metropole Projects, explains in detail how to secure funding for your project.

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In the fourth instalment of his series on property development Gavin Taylor, director of Metropole Projects, walks readers through each step of the development journey.

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A smart developer understands that they can never know everything there is to know in order to produce a profitable development. To complete a successful project you will need to assemble a highly skilled group of people to work with, and it is your responsibility to oversee the entire process with them – to be the producer of the project.

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In his continuing series of articles, Gavin Taylor, director of Metropole Projects, takes readers on a step by step journey through the process of property development and reveals how to become one of the success stories.

Following on from Part 1 – Getting started in property development - Gavin explains what property development is all about, what it takes to be a successful developer and why development is a great wealth creation vehicle. 

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