THESE PAST FEW years have been challenging for the healthcare industry and medical centres in particular.
Issues with staffing, COVID-19, and larger than normal patient numbers have resulted in rapid growth within the industry.
In 2021 over 1.8 million people were employed in the health care and social assistance industry, which is projected to increase to more than 2 million by 2025. [Read more…]
THE QUESTION OF Due Diligence is an interesting one.
There are two schools of thought. Some people believe they should undertake all the due diligence investigations BEFORE actually making an offer and finalising the commercial terms of the deal.
There are a couple of issues here – number one is: Due diligence, done properly, costs money. Therefore, my approach has always been not to spend money until you have control of the property. [Read more…]
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FIRSTLY, LET’S DEFINE what Due Diligence really means. And then, you need to understand when you should actually consider an in-depth Due Diligence study. [Read more…]
WHEN INVESTORS or owner occupiers purchase off the plan, they can often feel left in the dark throughout the construction process.
Clearly, it is important to keep your buyers informed, updated and as happy as possible… because the reputation of the Builder and Developer is what people remember.
At the same time, the project team can (and should) assist in providing some of the communication. [Read more…]
WHENEVER YOU EMBARK on any form of construction work in an existing building, you’re first request from the Design Team should be for As-Built Drawings — for review, and to form the basis of the design process.
More importantly, the availability and compilation of As-Built documents (after a project is complete) should form part of your due diligence process at the completion of project.
Because, this provides the full scope of work undertaken, and allows for easy assessment of existing buildings — to help eliminate any surprises that may arise down the track, during future alterations. [Read more…]
WITH VACANT LAND becoming more and more scarce within close proximity to Australia’s major city centres, it has become increasingly necessary to develop or extend existing properties.
However, as a Commercial property owner, how should you to tackle this dilemma? [Read more…]
IN PART 1, you saw how changing the use of a property can affect the loading requirements — and what it can cost you.
Read on to find out who is actually responsible for determining floor loading, Australian Standards, and how to protect yourself. [Read more…]
ARE YOU AWARE of your latent condition or scope of work costs? If you are investing or developing you should have contingency funding set aside for these expenses.
Latent conditions can take many forms. You should know what kinds of latent conditions exist so you have a better picture of the possible rectification costs of these issues. [Read more…]
DEVELOPMENTS generally comprise two types of costs:
Both of these costs need to be managed. But there are two specific traps to avoid when reviewing initial planning soft costs — so that your soft costs do not blow the budget later on. [Read more…]
YOU MAY BE AWARE that budget overrun is a common problem for construction projects.
Value engineering is an effective process that assists in managing costs, throughout a project, to meet the budget requirements.
It analyses the requirements of a project, with the aim of satisfying your requirements, as the owner, in the most economical way — from capital outlay to life cycle cost. [Read more…]
LIKE ALL THINGS, there is a “right” approach and there is a “wrong” approach to finding the perfect builder for your project.
Some developers, investors and building owners fall into the tempting trap of trying to cut costs — by bringing in builders who offer to work for much less, but who may not have the experience needed for that particular project.
These people hope that by reducing initial costs, they can boost their overall profits. Unfortunately this tends to backfire on them, more often than not. [Read more…]
