DEVELOPMENT & JOINT VENTURE PROPOSAL
Landmass is a multi-discipline award winning, luxury property development and interior design company based in central London.
Since being founded in 1998, we have established a reputation for creating innovative and timeless properties.
Our essential skill sets enable us to create the most high-end developments incorporating bespoke architecture and interior design tailored
to the buyers’ requirements and aspirations.
INTRODUCTION
“Our expertise in timeless understated design and our immaculate attention to detail
matches the needs of the super prime sophisticated buyer”
ACQUISITION EXPERTISE
Our Bespoke Property Sourcing service utilises Landmass’ extensive network of property owners and off-market agents to carefully
source dilapidated properties with development potential.
DEVELOPMENT EXPERTISE
Our award winning in-house team of project managers and interior designers
will p
rofessionally manage every stage of a
development from sourcing to selling.
DESIGN EXPERTISE
Our design team has a renowned reputation for turning the negative into the positive. The maximisation of space and light is
integral to our interior design philosophy, trademarked as ‘Volumetric Design’.
OUR EXPERTISE
ACHIEVEMENTS
Landmass has completed 33 residential development projects in Central London.
Another 19 private commission projects spearheaded by the Landmass Interior Design Team are completed or underway for a range of investors,
private clients and other developers.
Over the last 4 development projects, Landmass has had a +20% prot on costs and a 50% return on equity. Landmass is now actively applying
its expertise to multi-unit projects.
JOINT VENTURE OFFER
INVESTMENT TIMELINE
Over the next 5 years we are looking to commence 10 new projects.
PROPOSED PROJECTS TIMELINE
We estimate an average project length of 24-36 months.
INVESTORS AND JOINT VENTURE REMUNERATION
The investor is entitled to the majority share of the prot (rates and structure to be agreed).
Landmass will charge an acquisition fee to cover initial expenses, time, procurement and due diligence. We will also charge a development
management fee based on a percentage of the construction cost. This will be paid over the duration of the project.
Geographic Focus
: Prime Central London
Asset Classes:
Residential, Commercial with Redevelopment/Conversion
Potential
Purchase Price
: £10-40m
Partner’s Equity Investment Amount
: minimum 30% of Project Total Cost
Partner’s Ownership Percentage: up
to 100%
Target Returns:
Opportunistic
Development Horizon:
24 - 36 months per project
Loan to Cost:
55 - 70%
Project Prot On Cost:
20%
Minimum Project Return On Equity:
50+%
Minimum Investor IRR per project
: 15%
INVESTMENT CRITERIA
EXPECTED RETURNS
DEAL PROCESS
We undertake a 3 stage pre-acquisition due diligence process.
Once a deal is agreed we
s
et up a joint venture special purpose vehicle company for each project.
Landmass will be the minority shareholder which acts as the designated development manager and the investor will be the majority shareholder.
STAGES OF
DUE DILIGENCE
1. HIGH
LEVEL
2. IN
DEPTH
3. AGREED AND
UNDER OFFER
Time Frame With Project Architect With Project Architect Finalise With Architect
Planning With Planning Consultant Written summary Planning Report
Construction Cost With Project Architect Consult Quantity Surveyor Full cost analysis
Professional Fees In house/Project Architect With Project Architect Finalise with Architect
Finance Costs High level from a bank Agree Heads of Terms Get Bank Offer Letter
Sales Value (GDV) Talk to local Agents Written valuation by 2+ Agents Chartered Valuation Report
THREE STAGE DUE DILIGENCE PROCESS
PURCHASE, DEVELOPMENT & SALE PROCESS
Stage
Zero
Stage
Three
Stage
Two
PURCHASE
DESIGN &
PLANNING
PERMISSION
ACHIEVEMENT
REQUIREMENTS,
CRITERIA AND
STRATEGY
DEFINITION
SITE IDENTIFICATION
& DUE DILIGENCE
Stage
One
Stage
Five
Stage
Four
Stage
Six
Stage
Seven
PREPARATION OF
CONSTRUCTION
DOCUMENTATION
& SELECTION OF
CONTRACTOR
CONSTRUCTION &
PRE-COMPLETION
MARKETING
COMPLETION &
PREPARATION
FOR SALE
POST
COMPLETION
MARKETING
Once the project is approved Landmass will execute the transaction. We have developed established
relationships with several directly relevant nancial institutions. We are happy to detail our own past
experiences with regard to the formulation of investment strategies and the structure of transactions.
We will present you with the options of an onshore or offshore limited company, and the use of a special
purpose vehicle or individual names.
PROCESS
We will carry out extensive research to select a range of suitable properties. We undertake a comprehensive due
diligence process to assess each project’s nancial viability. Realistic construction and professional costs are assessed
by quantity surveyors and will be included in our appraisal to ensure transparency throughout the project. We will
present the projects only once they have been thoroughly researched and where we have concluded that the
return potential is in line with the agreed targets.
We will make sure that we understand our partners’ requirements and criteria to ensure our interests are aligned at
all times. The most appropriate strategy will be implemented after having been agreed.
1. SITE IDENTIFICATION & DUE DILIGENCE
0. REQUIREMENTS, CRITERIA AND STRATEGY DEFINITION
2. PURCHASE
3. DESIGN
& PLANNING PERMISSION ACHIEVEMENT
Landmass has an award winning in-house interior design team that focuses on intelligent design.
We will produce a selection of proposed drawings to show how we can enhance the existing layout; with
each design proposal we will also provide cost estimates and implications.
There is a specic 8 stage Design Process Landmass implements for Development projects which can be
provided at a later stage.
Our team will be present throughout the construction process. We will oversee the project from start to nish
to ensure that the development remains on time and on budget.
Landmass will provide information on the project at regular intervals thoughout the process.
When necessary we will attain the planning consents, rights of light and party wall agreements. We work
closely with the local councils and will obtain the planning consent that maximises the value for the project.
Utilising our extensive network of contacts, we will put the construction documentation out to tender to a
selection of trusted contractors before choosing the most suitable option.
4. PREPARATION OF CONSTRUCTION DOCUMENTATION AND SELECTION OF CONTRACTOR
6. COMPLETION AND PREPARATION FOR SALE
Our in house team is able to purchase all of the furniture and ttings utilising our trade discount to ensure the
best rates throughout. We will manage any snagging or post-construction issues prior to completion.
7. POST-COMPLETION MARKETING
We have experience using various marketing strategies enabling successful presentation and sale of
the nished developed property. Our expertise at staging will ensure that the appeal of your property is
enhanced and the perceived value is increased.
PROCESS
5. CONSTRUCTION & PRE-COMPLETION MARKETING
Landmass has won
‘Best Development in London’ and ‘Best Interior Design in the United Kingdom’ at the
inaugural International Property Awards for one of our finest projects, 21 Grosvenor Place,
‘Best Interior Design UK’ and ‘Best Property Development in London’ in the Daily Mail
Awards.
Landmass was also shortlisted for
‘Best Residential Property’ for our Belgrave Mews Development, in the Home Building and
Renovating Awards by The Daily Telegraph
AWARDS
S
Disclaimer: The information contained in this document is based on estimates available at the time of enquiry and does not constitute a formal valuation and may not be relied upon for any purpose whatsoever other than as marketing advice.
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This document is property of Landmass London and may not be reproduced in any form without prior consent
48 Beak Street, London - W1F 9RL
www.landmass.co.uk
020 7439 8095