There are tens of thousands of underutilised potential properties out there at any given time. The key is to find the property with the most potential. To identify such properties in an efficient manner, a systemised approach is required.
A high-level summary of the Novel Properties approach is described below:
1. Our system begins by assessing all properties on and off-market against a common set of criteria that suit our niche. Only properties matching the chosen criteria are brought forward to the next stage.
2. An appraisal of the local residential market establishes which properties are located in areas with sufficiently high residential values to warrant further assessment.
3. Planning consultants, cost consultants, architects, estate agents and structural engineers are then incorporated into the appraisal process and instructed to assess the schemes’ practical and financial viability.
4. Further market analysis and due diligence coupled with the “Five Whys” iterative interrogative technique rechecks all design assumptions to ensure the maximum potential for any given development is achieved.
5. The maximum allowable bid price for every site is a result of the evidence-based decision-making process outlined above. We only offer what our system calculates the site is worth to us.
6. Throughout the design and construction process, the market analysis and design assumptions are continuously reassessed to ensure they are still valid.
