From original strategy and concept through delivery, Norell properties offer development management services that are curated to handle the entire property development process.
Our team has an in-depth understanding of all aspects of local laws and statutory requirements pertaining to site selection, project approval, and construction in Victoria. After you briefly explain us your project requirements, our team will carefully start with.
This is the first and crucial phase of any development project. Before a feasibility study is conducted, one of our managers will make sure the site complies with your requirements, including having the proper zoning permissions. When done correctly, it can guarantee cost savings for the remainder of the development process. It comprises of:
A crucial step in due diligence, feasibility analysis is part of our site selection service.
This includes data on market prices, neighbouring property sales prices, and demographic facts.
We weigh the advantages and disadvantages of a project proposal and offer our best advice.
We conduct market and price research and work with real estate brokers as part of our acquisition service.
Joint venture is a term used for partnership. Partnership is when two (or more) people decide to buy real estate as an investment together. In case, a partnership dissolves, there is a chance for a messy fight with accusations flying in all directions unless contributions, profit (or loss) share, and liabilities are clearly spelled out in the partnership agreement.
When partners put their agreement in writing, they restructure their relationship to become a joint venture that stands on its own as a legal relationship. There are four elements that must be agreed upon when a joint venture for a real estate project is formed:
The buying or selling or holding method is a fantastic entry-level investment because it requires less prior knowledge, less risk, and less down payment. Australian investors prefer the sell or hold property investing approach the most. This is due to the fact that it is less complicated than other property strategies, starts off with less capital, and has a relatively low risk.
In its simplest form, this selling or holding strategy should be stuck to until the price has increased sufficiently to meet your financial objectives, or you continue to own the property to produce a profit to help with retirement. Our property advisors stand by your side at every step of the selling or holding strategy along with providing expert tips for success:
An ongoing review of the implementation process is done to assess whether the project’s goals were achieved or not. It can also be used to evaluate how well the project was managed. By learning from these results, future projects can be managed better and similar errors can be avoided.
This is usually the final stage of a development management cycle and typically involves an investment advisor that can act more impartially when making decisions regarding how the project was managed. This gives the project’s stakeholders the assurance they need to know the project’s goals were successfully attained.
At Norell Properties, we focus on how happy your stakeholders are? Were their needs met? How did the project affect them? What can be done to fix any unhappiness? We know how to make a development project successful without exceeding your timeline and budget.
Norell Properties provide a customised end-to-end project consultancy and development management that handles every aspect of your real estate project.
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