Savills International Development Services

Savills
International Development Services
Specialising in residential, mixed-use and resort communities
savills.com
Contents
01
03
Savills
Development Services
Savills Background & Business
04
Development Consultancy
08
Our Expertise
05
Design Development Consultancy
09
Development Consultancy Process
10
Development Management
12
Sales Consultancy
12
Marketing Strategy
13
Sales Advice and Expertise
13
02
International Residential
and Resorts
04
Case Studies
Al Khobar Tower, Saudi Arabia
14
Group Structure
06
Yingde Farm, China
15
The Development Services Process
07
Vista Palace, Côte d’Azur, France
15
Lustica Peninsula, Montenegro 16
Olympic Village, London, UK
Porto Montenegro, Montenegro
17
17
Sveti Marko Island, Montenegro
18
Aphrodite Hills Golf Resort, Cyprus
19
Quinta do Lago Golf Resort, Portugal
19
05
07
The Core Team
The Core Team
Savills International
20
Africa
22
America
22
Asia Pacific
22
Europe23
06
Professional Partners
Professional Partners
21
Middle East
23
UK
23
01
Our Expertise
savills
Savills Background
& Business
We believe each instruction is
special. No matter how large or
small the project we provide the
same quality of service, which
is intended to exceed your
aspirations of quality and delivery.
Our objective on international resorts is to
help you create a world-class destination
that will be achievable and financially
successful. Our approach is to provide
uncompromising attention to detail and
robust development management, taking
on responsibility and driving the project
to meet your aims. To achieve this, every
project is managed by an experienced
director who will remain with the project
from inception to completion and will be
available for any follow-ups.
All of our team members are passionate
about creating resorts that meet
international criteria and can be
successfully marketed. The hallmark
of Savills service is our proven track
record of integrating the knowledge
of the market-facing consultants with
the expertise of the technically minded
development management team to
achieve the best commercial outcomes.
04. Savills International Development Services
Our values encompass:
YY Robust leadership and management
YY Constant clear communication
YY Pioneering with experience
Savills is one of the world’s leading
property advisers, comprising outstanding
individuals who have real expertise
and passion for what they do. Our
international perspective, strong track
record with world-class clients and
dedication to excellent service ensure that
we lead as a property services company,
on a global scale and in local markets.
This powerful combination also
allows us to deliver continued growth.
Founded in 1851, Savills has a rich
heritage. It is listed on the London
Stock Exchange and has over 500
offices and associates worldwide.
The company employs 23,000 people.
Savills has been ranked the best
Business Superbrand in the real estate
sector by the Centre for Brand Analysis.
Savills gives clients access to real
estate expertise of the highest
calibre, across the Americas,
Europe, Russia, Asia Pacific,
Africa and the Middle East.
Everyone at Savills works hard to
exceed clients’ expectations. We
provide honest and professional
advice with a spirit that is always
fresh and productive.
Our broad range of clients and our ability
to recognise and respond to changing
market needs has put us in a very
influential position throughout the property
world. Our distinctive collegiate culture
and highly motivated staff ensure that we
are committed to getting the very best
results for our clients – every time.
Aside from resort development, our
services cover the whole range of
property needs. Along with acquisition
and disposal, we offer building and
project consultancy, landlord and tenant
representation, rating consultation,
valuations advice, capital allowance
advice, strategic projects and research.
We also have departments that deal
with specialised areas such as new
homes development, leisure and hotels,
institutional property, offices, retail
and planning, as well as residential
development and investment.
We are regarded as an innovative
organisation backed up with tough
negotiating skills. Savills chooses
to focus on a defined set of clients,
thereby offering a premium service to
organisations with whom we share a
common goal.
02
International Residential and Resorts
Group Structure
The International Development
Services (IDS) team has unrivalled
experience with large-scale
residential, mixed-use and integrated
resort master-planned communities.
Understanding the Buyer
We have a thorough understanding of
global property demand dynamics. Our
knowledge of target buyer markets, in
terms of nationality, product and design
preferences, purchase motivations
and budget, means we can advise
on all aspects of the development
process, whilst taking into account
how the product will be brought to the
market. This will contribute to ensuring
successful sales levels and consequently
higher investment returns.
06. Savills International Development Services
Building a Lifestyle
Taking into account end-users’ demands,
we can advise on the type, mix and
location of the residential component of
the development, as well as its relation
to adjoining land-uses, and how it should
be orientated according to aspect and
topography from a demand perspective.
Corresponding to residents’ and guests’
needs, we provide consulting services
throughout the development process,
on supporting amenities, facilities and
services, whilst also considering social
infrastructure requirements such as
schools, commercial premises, hospitals,
community centres or sports facilities.
In larger residential communities, this
would also include environmental as
well as social infrastructure, for example
renewable energy initiatives, locally
sourced labour and materials, and local
environmental conservation.
The development concept and
community density is reflected not only in
the ‘placemaking’ design of the physical
space, but also in the market positioning
and perception of the operating brand.
Savills’ experience in the hospitality
sector enables us to consult and secure
leading branded operators.
Savills’ experience in the hospitality
sector enables us to consult and
secure leading branded operators.
The Development Process and Our Services
Maximising Returns
All of these factors must be considered
in order to maximise the efficiency and
value return from the project. The more
desirable the on-site lifestyle is perceived
to be, the higher the value of the
residential real estate, and subsequently
the return on investment.
Therefore, our advice is focused on
drawing in buyers and guests to invest in
well-planned, intelligently designed and
socially responsible communities, thereby
ensuring the long-term commercial
viability of the entire development.
03
Development Services
Development
Consultancy
The IDS team is based in London
and has extensive experience
of development management,
marketing and selling all types of
international residential property,
from chalets in Switzerland, a
pied-a-terre in Paris to villas in the
Caribbean.
Members of the team speak a range of
languages including French, Spanish,
Portuguese, Italian, Russian, Croatian
and German. The team works closely
with both the Savills worldwide offices
and its network of 16 associate agents
around the world.
Our services are structured to assist
clients across the following areas:
Market Research
YY Knowledge of global residential
demand characteristics
YY In-depth local market research,
specific to the project concept and
positioning
YY Analysis including demand and
supply dynamics (product, pricing,
buyer markets, buying motivation)
and a review of the local market
development context (economic
and tourism profile) with impact
on the residential market and
proposed projects
Development Investment
Consultancy
YY Preparation of project investment
briefs
Project Feasibility
Analysis
YY Site assessment and analysis,
including advice on land assembly
and acquisition
YY Concept and marketing positioning
YY Development options viability (unit
mix, size, target market, phasing,
absorption and pricing)
YY Indicative development appraisals
(DCFs, IRR and NPV
Analysis) and Red Book
Valuations
YY Project performance target
YY Development business plan, deal
structuring, consultancy on joint
venture and exit strategies
08. Savills International Development Services
YY Approach to potential equity investors
and lenders
YY Project debt advisory (structuring,
arranging, refinancing of existing
loans)
YY Project equity raise, co-investors,
capital/asset management joint
ventures
YY Entity-level financing and investments
Design
Development
Consultancy
Preparation of Project
Design Briefs
YY Assembly of core project and
design team (master architect, cost
consultant, construction manager,
engineers)
YY Identification and alignment of project
parameters with target markets
YY Inform the efficiency and profitability
of the scheme design through master
planning, land use, product mix,
product sizing, pricing, phasing and
delivery recommendations
YY Ensure a socially responsible
and environmentally conscious
development ethos
Development
Management and
Consultancy
YY Co-ordination of project team, acting
as client representative
YY Concept value engineering and value
management
YY Sustainable development solutions
YY Budgeting and control
YY Quality monitoring and progress
reports to client
YY Value and risk management
YY Secure planning approval and
managing of PR process
Hotels and Facility/Resort
Managers
YY Co-ordination and management of
Strategic Environmental Assessments
(SEA) and Environmental Impact
Assessments (EIA)
YY Sourcing of hotel operators
YY Negotiations with hotel operators
YY Management contract negotiation
YY Advice on resort and facilities
management
YY Commissioning and handover
The whole process is driven by
innovative, top quality research
tailored to your individual needs
YY Performance audit of existing resorts
03
Development Services
As part of the development process we
test the appropriateness of the proposed
commercial uses to accompany the
residential uses ie. a traditional hotel
operation versus a serviced apartment
scheme, as well as the types of retail/
leisure uses that should accompany
such a development. We would look
to identify the likely demand, and from
which class of operators they originate.
Target market analysis
Once we have established the range
of values that are achievable and the
pricing dynamics in the area, we are
able to analyse the socio-economic
profile of the target purchasers for the
scheme, including:
Market review
Development
Consultancy
Process
The first step when assessing
a site and beginning the
consultancy service is to
produce a comprehensive
consultancy report, covering:
The next element is the analysis of the
national and regional market conditions
and recent local market transactions
(although potentially limited in number).
This stage is crucial in establishing the
current demand profile for new build
schemes, focusing on pricing thresholds
and understanding market performance
and competition coming through
the pipeline going forward. With the
combination of our international research
team and our local partners’ knowledge
of key schemes and transactional
evidence, we are able to bring a truly
global approach to our market review,
thereby reducing risk and adding value.
YY International purchaser profile
YY It is important to establish from the
outset where external investment
is coming from and what type
and specification of product these
purchasers desire
YY The specific pricing thresholds
of residential sales for particular
nationalities identified
YY Preferred sizes, specification and
amenities associated with the
residential element of the scheme
Site review
Conducting a detailed review of
the surrounding area, including a
comprehensive review of the locality and
adjacent land uses. This will also include
research into the style, standards, sizes
and specifications of the existing and
forecast residential stock.
10. Savills International Development Services
We are able to bring a truly
global approach to our market
review, thereby reducing risk
and adding value.
Development strategy
YY Timescale: 2 – 3 weeks
Using the results of the analysis, we
work closely with masterplanners and
architects. This provides a set of clear
guidelines for the optimal unit sizing,
mix, specification and pricing of the
residential element of the scheme, in turn
informing the product development.
Financial viability analysis
Finally, but crucially, we prepare an
expert appraisal (either indicative
or RICS Red Book valuation) of the
value of the project and the site, in
accordance with the recommendations
given in our report. This will generate a
Gross Development Value – being the
aggregate of the sales and capitalised
income/sales of the commercial
elements of the scheme, as well as
a residual valuation to determine the
land value of the site assuming the
‘recommended’ scheme.
We work closely with appointed quantity
surveyors, architects, engineers and
construction managers in order to make
this a fully accurate reflection of the
development opportunity.
On the basis of the consultancy report,
it is important to work daily with all of
the retained project team to produce
a development strategy including
programme timing, recommendations for
additional expert advice and analysis of
the likely funding requirements.
On behalf of the client we would prepare
the design brief for the architects,
recommend the most suitable project
team members (architects, engineers,
quantity surveyors) and manage the
tender process.
03
Development Services
Development
Management
A development manager role
is effectively as a surrogate
client providing an interface
between the client and the
project manager, acting within the
confines of client instructions.
Savills has unparalleled experience of
undertaking development management
roles on resort schemes and believes
that this service would successfully
drive the project, particularly through the
critical early stages of decision making
and ensuring financial viability.
This role encompasses all phases and
aspects of the development cycle from
identifying a development opportunity,
site selection, technical and financial
modelling/appraisals, through to
planning, project team selection, design
and construction, as well as leasing,
sales and marketing.
Our focus on every project is value
enhancement, risk mitigation and
delivery of the highest-quality
development product.
12. Savills International Development Services
Accordingly, the development
management role that Savills provides
encompasses technical consultancy
services (such as due diligence,
technical appraisals, feasibility studies
and development monitoring) to all
other internal-development-related
disciplines and the myriad of external
advisors who are an integral part of the
development process.
The strength of Savills development
management derives from the depth
and breadth of advice we are able to
offer our clients as a complete packaged
service. We achieve this by bringing
extensive development-related skills,
knowledge and expertise to each and
every project.
Valuations
Sales Advice
and Expertise
Marketing Strategy
Mounting and developing
lead generation through data
bases, PR, advertising, the web,
exhibitions, signage and any
sources that we see suitable.
Sales absorption rates depend on the
supply of quality leads generated by the
marketing. ‘Lead-to-sale’ conversion
rates tend to vary from 2% and 5% and
the gestation period from 2 – 6 months
according to the location, type and price
of the property being sold. Likewise the
cost-per-lead and cost-per-sale.
The methods include:
Following on from the generation of
leads we endeavour to obtain the best
sales values that the market presents.
Our methods include:
YY Use of a PLT (Price, Location and
Time) matrix pricing approach which
incorporates financial models to
calculate income and phasing for
larger scale developments
YY Brochure design and advice to
ensure bespoke proposals to the
correct market
YY Creation of sales models and contracts
YY Designing and running of sales offices
YY Selecting expert personnel to run and
act as salespeople in the on-site office
YY Identification of the optimal route to
the market
YY Marketing strategy focussing on
target markets, timing marketing
materials and PR
YY Marketing budget control and
estimation
YY Website design advice and web
marketing strategy
YY Brand building
YY Road show advice and exposition design
Savills International provides formal
valuations and consultancy reports for
properties across the globe on behalf of
a wide range of clients and purposes.
Our team of qualified RICS Registered
Valuers works directly with a network of
over 500 Savills offices and Associate
offices around the world to provide
the most up to date valuation advice
in almost any market globally. We
have Savills offices in most countries
in Europe, Asia and the Americas
and regularly carry out valuations in
destinations as diverse as Central and
Western Europe, Montenegro, Croatia,
The Caribbean, UAE, Cuba, and Mexico
to name a few.
The International Valuation team can
provide formal and informal valuation
advice for a diverse range of purposes,
including:
YY Loan Security – Valuations in
support of the provision of debt
finance or mortgage facilities, usually
provided for banks and other lending
institutions.
YY Expert Witness/Matrimonial – Formal
valuation advice, as third party
independent valuers, in matrimonial
proceedings or other disputes relating
to a shared asset value.
YY Development Valuations – These
can be either formal (Red Book)
valuations or informal development
appraisals, aimed at calculating the
Gross Development Value as well
as a residual land valuation of the
development in question.
Valuation is a diverse skill and can be
undertaken in relation to residential
properties such as villas, apartments,
farmhouses and chalets as well as
larger-scale mixed-use developments,
golf courses, hotels & resorts.
Savills has unparalleled
experience of undertaking
development management
roles.
To discuss any overseas valuation
requirements you may have or to obtain
a fee proposal, please contact Savills
International Valuation team.
04
Case Studies
Al Khobar Tower, Saudi Arabia
Location
Client
Description
Role
14. Savills International Development Services
Al Khobar, Saudi Arabia
Al Khobar Group
To create a land-mark mixed-use building, with
200 serviced apartments, retail space and major
international hotel opportunity.
Development Consultancy and Development
Management
Yingde Farm, Guangdong Province, China
Location
Client
Description
Role
Yingde Farm, Guangdong Province, China
Guangdong Rising Assets
Feasibility Study on 700ha site. A market tested masterplan allowing for a
mixture of Tourist land uses and also elements of residential, commercial
and industrial uses. The masterplan will include renewable energy
generation technologies.
Master-planning, Urban Design
Vista Palace, Côte d’Azur, France
Location
Client
Description
Role
Vista Palace, Côte d’Azur, France
Vista Palace Developments
Refurbishment/development of 10,000 m² 5* hotel
and related services and 12,000m² for “Residence
de Tourisme”
Development Consultancy and sales & marketing
04
Case Studies
Lustica Peninsula, Montenegro
Location
Client
Description
Role
16. Savills International Development Services
Lustica Peninsula, Montenegro
Orascom
Detailed Master plan including three areas of development over two
phases. Phase 1: Golf Course, 1 hotel, downtown area; and area to
south-west of military site . Phase 2: Development of area marked
as “mine” on the master plan
Development Consultancy
Olympic Village, London
Location
Client
Description
Role
London
Lend Lease
70-ha mixed-use development site, providing 15
million sq ft of accommodation for residential, retail,
commercial and ancillary uses
Sole residential development advisors
Porto Montenegro, Montenegro
Location
Client
Description
Role
Montenegro
Adriatic Marinas
Apartments, 800-berth mega-yacht marina, 5* hotel
Development Consultancy, marketing & sales consultancy
04
Case Studies
Aphrodite Hills Golf Resort
Location
Client
Description
Role
18. Savills International Development Services
Paphos, Cyprus
Lanitis Group
500-acre residential golf resort with 6,000 residential units,
five championship golf courses, four hotels and extensive
leisure, retail and commercial facilities
Residential advisory and sales & marketing
Sveti Marko Island, Montenegro
Location
Client
Description
Role
Montenegro
Metropol Development
Luxury private villas, 6* Banyan Tree hotel & spa
Development management, development
consultancy, marketing & sales consultancy,
exclusive global sales
Quinta do Lago Golf Resort
Location
Client
Description
Role
Algarve, Portugal
Andre Jordan
1,700-acre luxury residential golf resort with 1,200 residential
units, five championship golf courses, three five-star hotels
and extensive leisure, retail and commercial facilities
Residential consultancy and sales & marketing
05
The Core Team
Charles Weston Baker, Savills International Residential and Resorts Managing Director, has more than
25 years experience in the international property world and has been with Savills for 14 years. Prior to
joining Savills, he gained extensive experience in the construction and resort industry with Bovis Abroad/
P&O. Charles heads the International Residential team, spearheaded by the individuals introduced below.
Their roles are to assist throughout the development process, taking vision to reality. The advice available
extends from the professional team selection through to the co-ordination of all participants to ensure that
the research and viability, masterplan, specification, design and construction are appropriate to achieve
the required quality for a destination resort that will be marketed to a truly international clientele.
Sean Monie has more than 20 years’ experience in the construction industry. He
specialises in providing project management, project monitoring and technical
due diligence advice to blue chip institutional funds, investors and corporate end
user clients. He has a full understanding and appreciation of the various issues
surrounding all facets of development process.
Daniel von Barloewen joined Savills in 2007, having previously worked in Russia,
Germany, France & Switzerland. An Associate Director, Daniel manages the International
Resort Consultancy Department. He has a Masters in Property Valuation & Law
from CASS University, and is a Member of the Chartered Management Institute.
He specialises in development management, development investment analysis,
development consultancy and marketing consultancy.
Richard Walker is an Associate Director of Urban Design in our London Office. He leads the
development of Masterplan projects from concept to delivery plan, and advises clients on the
approach to designing schemes and selecting architects. Richard’s 15 years of experience in
Landscape Architecture and Masterplanning with public and private sector companies makes
him well placed to produce a viable masterplan to suit a client’s brief.
David Parker has worked at Savills since 2007 and is a qualified RICS Chartered
Surveyor and Registered Valuer. An Associate in the International Resort Consultancy
department, David previously worked in the residential sales and Central London
valuation teams. He now provides a range of services to international developers,
including development management, development consultancy, design review and
Red Book valuations.
Riyan Itani joined the Savills Cambridge office in 2004, having graduated with a
Masters degree (MPhil) in Land Economy at Cambridge University. As an Associate
within the International Consultancy team, he specialises in strategic land review,
development appraisal, development consultancy and valuations.
David Harper works closely with the International Resort Consultancy Team on integrated resort
schemes. A Chartered Surveyor and Managing Director of Leisure Property Services, he was
previously Head of Valuation & International Brokerage for CB Richard Ellis Hotels. He is the author of
the only comprehensive book on the hotel transactional market “Valuation of Hotels for Investors”, as
well as being employed by the RICS to provide hotel valuation advice. David has been involved with
a huge array of mixed use developments in over 90 countries, providing feasibility studies, structuring
debt & equity positioning, finding hotel operators and selling the operational hotel.
20. Savills International Development Services
06
Professional Partners
A non-exhaustive list of the
international Hotel Operators
with whom we have long-standing
relationships includes:
YY Hyatt International
As a result of the quality and
scale of the projects on which
we are involved, we frequently
work alongside a number of other
global firms, all leaders in their
fields. A non-exhaustive list of
such firms includes:
YY Arup
YY Halcrow
YY Bovis Lend Lease
YY Mace
YY Davis Langdon
YY Gleeds
YY Harper Downi
YY Gardiner & Theobald
YY EC Harris
YY HVS Global Hospitality Services
YY Fairmont Raffles Hotels International
YY Jumeirah
YY Mandarin Oriental
YY Banyan Tree
YY Six Senses
YY Hilton
YY Starwood Hotels & Resorts
YY Marriott
YY Taj Hotels
YY Intercontinental
YY Rezidor
YY Accor
YY Kempinski
YY Sol Melia
YY Movenpick
YY TRI Hospitality Consulting
YY PKF International
YY Woods Bagot
YY WAT&G
YY EDSA
YY Foster + Partners
YY ReardonSmith Architect
YY PRP Architects
YY RMJM
YY HOK
YY Hirsch Bedner & Associates (HBA)
YY Interior Design Consultants
Examples of work carried out in
certain locations:
YY Barbados
YY Switzerland
YY France
YY Monaco
YY Spain
YY Dubai
YY Cuba
YY Portugal
YY Mallorca
YY Italy
YY Antigua
YY USA
YY Croatia
YY Montenegro
07
Savills Global Presence
Over 500 offices and associates worldwide
Americas
Africas
UK
Asia Pacific
Europe
England
Ireland
Scotland
Wales
Australia
China
Hong Kong
India
Japan
Macau
Malaysia
New Zealand
Singapore
South Korea
Taiwan
Thailand
Vietnam
Austria
Belgium
Croatia
France
Germany
Gibraltar
Greece
Italy
Luxembourg
Monaco
Montenegro
Netherlands
22. Savills International Development Services
Europe
Asia
Pacific
Norway
Poland
Portugal
Russia
Serbia
Spain
Sweden
Switzerland
Middle East
& Africa
Angola
Botswana
Oman
South Africa
Swaziland
Zambia
Americas
Canada
Caribbean
Mexico
USA
Our objective is to
combine our expertise in
order to maximise value,
reduce development
risk and create and
international destination
savills.com