2015-12-31-莱坊-THE_DEVELOPMENT_LAND_EXPERTS_2015-2016_6页_1mb

Knight Frank - Development Land Experts Summary

Core Content

Knight Frank is a leading real estate consultancy firm in Ireland with a 35-year history of supporting landowners and developers in both small and large-scale projects. The firm focuses on achieving maximum value and mitigating risk throughout the development lifecycle, particularly in the current financial climate. The development land market has shown significant momentum in 2015, driven by strong demand from end occupiers for high-quality sites.

Main Points

• Development Lifecycle Focus: Knight Frank's expertise spans all stages of the development process, from concept to sales, with a dedicated team to ensure optimal returns.
• Market Trends: The demand for new housing and office spaces has increased, especially in Dublin, due to economic recovery and a shortage of new residential units.
• Funding Landscape: There is a growing variety of funding options, including senior debt, mezzanine finance, and equity finance, with the two pillar banks re-emerging as lenders for development land.
• Integrated Approach: Knight Frank combines local knowledge with global insights, leveraging its worldwide network of over 13,000 professionals across 417 offices in 58 countries.
• Key Services: The firm provides comprehensive support in land acquisitions, planning applications, appraisals, joint ventures, and land disposal, ensuring a well-rounded development strategy.

Key Information

Knight Frank has transacted numerous high-value development land assets in 2015, including:

1. Ballsbridge Project, Dublin 4

   • Price: Sold in excess of €67 million
   • 3.7 acre prime redevelopment site with no planning

2. Waterfront Office Site, Charlemont Place, Dublin 2

   • Price: Confidential
   • Full planning permission for 3,227 sq.m. of office space

3. Esmonde Motors Site, Stillorgan, Co. Dublin

   • Price: Sold in excess of €7 million
   • 1.39 acre site with no planning permission

4. Naul Road, Balbriggan, Co. Dublin

   • Price: Sold in the region of €4.75 million
   • Full planning permission for 99 houses

5. South Great George's Street, Dublin 2

   • Price: Sold in the region of €9 million
   • Full planning permission for a 4,265 sq.m. office/retail scheme

6. Castlemartin Estate, Kilcullen, Co. Kildare

   • Price: Sold in excess of €26 million
   • 750 acres of prestigious development land

7. Russell Street, Dublin 1

   • Price: Sold in excess of €1.5 million
   • 1,434 sq.m. motor repair garage on a 0.37 acre site

8. Abernour, Foxrock, Dublin 18

   • Price: Sold for €2.7 million
   • 1.25 acre residentially zoned site with no planning permission

9. Bolton Hall, Rathfarnham, Dublin 16

   • Price: Sold in excess of €4.5 million
   • 4.75 acres with planning permission for 20 houses

10. Former Cemex Site, Naas, Co. Kildare

    • Price: Sold in excess of €5 million
    • 15.7 acres with 9,316 sq.m. of industrial/manufacturing warehouses

11. Gallows Hill, Athy, Co. Kildare

    • Price: Sold for €960,000
    • Partially complete residential development

12. Old Grange Wood, Monasterevin, Co. Kildare

    • Price: Sold in the region of €1.7 million
    • Partially complete development with 19 acres and standing stock

13. Tara Street, Dublin 2

    • Price: Confidential
    • 20,000 sq.m. potential for office development

14. Alexander Court, 25 Upper Pembroke Street, Dublin 2

    • Price: Acquired for €6.25 million
    • 5-storey student accommodation building with 23 apartments

15. Harcourt Street, Dublin 2

    • Price: Acquired for €70 million
    • Former Garda Headquarters on a 2-acre site

Development Process

Knight Frank outlines a 10-stage development pathway to ensure the viability and profitability of each project, including:

1. Concept Phase: Land use, unit mix, and context analysis
2. Research: Market analysis, practical experience, and community insights
3. Design & Brief: Vision, objectives, and leadership
4. Plan Phase - Initial: Schematic testing, relationship building, and integration strategy
5. Plan Phase - Detail: Design review and delivery
6. Viability: Deliverability, phasing, and funding
7. Build Phase: Innovation, sustainability, and scale
8. Profitability: Strategic review and pump prime
9. Marketing: Campaign structure, branding, and collateral
10. Sales: Strategy for maximizing returns

Value Add Process

Knight Frank emphasizes the importance of a meticulous and integrated approach, combining local and global expertise to create developments that not only meet market demand but also deliver strong returns. This includes:

• Land Acquisitions: Identifying and securing high-value sites
• Planning Applications: Advising on appropriate product mix and site use
• Appraisals: Assessing site values, GDVs, and profit levels
• Joint Ventures: Facilitating strategic partnerships
• Land Disposal: Managing the sale of development land

Conclusion

Knight Frank's development land team plays a pivotal role in helping clients navigate the complex and competitive real estate market in Ireland, with a focus on maximizing returns and minimizing risks. Their integrated approach, supported by in-depth research and global expertise, ensures that they remain at the forefront of the development industry.