PrimeDeveloper

This unique feature enables the user to spread a percentage of an existing cost, for example architects’ fees, over a new time frame. So, for example, a percentage of the overall cost could be front-loaded in month one or allocated to selected periods, i.e. months one, three and six. This enables fine tuning of previously smoothed cost distribution.

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PrimeDeveloper can look at either single unit or multi-phased developments where various stages of construction occur over differing and overlapping timescales.

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Both commercial and residential developments can be appraised either as an area of measurement or unit of construction. As with multi-phasing, mixed use developments can readily occur in the same appraisal.

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Up to 10 levels of debt can be considered in a single appraisal each with variable rates of interest.

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PrimeDeveloper assumes all costs are paid from the developers own money (equity) unless debt has been applied. Once any debt is brought into the development the IRR return is seen as the return on the developers remaining equity.

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The user can calculate the true worth of the development in cash terms by using a relevant discount rate (target rate) to produce the NPV. The NPV will allow the user to compare investments within the same asset class rather than an IRR which allows the user to compare the property development with other asset classes.

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In addition to comprehensive reports that can be presented in PDF (Acrobat) format, PrimeDeveloper will also display the development costs as a pie chart and the costs v. receipts over a timeline.

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Any element of the development can be sensitised to see the instant impact on site value, profit, IRR, NPV etc. These changes can either be made as a direct entry, through the ‘goal seek’ function or in the sensitivity analysis section. The detailed sensitivity analysis allows the user to alter multiple elements of construction to see the result on site value, profit, and yield return.

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All reports can be exported to Word, Excel HTML and PDF. The PDF reports are instantly created if the user wants to send an email to a client with the appraisal attached. The reports can also have users’ company logos embedded into the reports.

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Once a development has been entered into PrimeDeveloper, the user can readily edit and move the timing and ‘S’curve of any of the costs and receipts by ‘nudging’ the cost back and forth or spreading the costs over a greater or lesser period.

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PrimeDeveloper has been designed from a property developer’s perspective which means we have defaulted most of the repetitive costs that occur on every development. This leaves the developer to enter the build costs and the receipts to instantly produce an answer. Naturally, all the costs can be edited at any stage to make the appraisal comprehensive.

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