Savills International Development Services - Coreside

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Savills International Development Services - Coreside

Savills

International Development Services

Specialising in residential, mixed-use and resort communities

savills.com


Contents

01

Savills

03

Development Services

Savills Background & Business 04

Our Expertise 05

Development Consultancy 08

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

Group Structure 06

The Development Services Process 07

04

Case Studies

Al Khobar Tower, Saudi Arabia 14

Yingde Farm, China 15

Vista Palace, Côte d’Azur, France 15

Lustica Peninsula, Montenegro 16

Olympic Village, London, UK 17

Porto Montenegro, Montenegro 17

Sveti Marko Island, Montenegro 18

Aphrodite Hills Golf Resort, Cyprus 19

Quinta do Lago Golf Resort, Portugal 19


05

The Core Team

07

Savills International

The Core Team 20

Africa 22

America 22

Asia Pacific 22

Europe 23

Middle East 23

UK 23

06

Professional Partners

Professional Partners 21


01

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.

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.

Our Expertise

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.

04. Savills International Development Services


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.

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.

06. Savills International Development Services


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

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

Development Investment

Consultancy

YY

Preparation of project investment

briefs

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

08. Savills International Development Services


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

YY

Co-ordination and management of

Strategic Environmental Assessments

(SEA) and Environmental Impact

Assessments (EIA)

Hotels and Facility/Resort

Managers

YY

Sourcing of hotel operators

YY

Negotiations with hotel operators

YY

Management contract negotiation

YY

Advice on resort and facilities

management

The whole process is driven by

innovative, top quality research

tailored to your individual needs

YY

Commissioning and handover

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.

Development

Consultancy

Process

The first step when assessing

a site and beginning the

consultancy service is to

produce a comprehensive

consultancy report, covering:

Site review

Market review

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.

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:

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

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.

We are able to bring a truly

global approach to our market

review, thereby reducing risk

and adding value.

10. Savills International Development Services


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.

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.

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.


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.

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.

12. Savills International Development Services


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:

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

Sales Advice

and Expertise

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

Valuations

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.

Savills has unparalleled

experience of undertaking

development management

roles.

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.

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

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

14. Savills International Development Services


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

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

16. Savills International Development Services


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

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

18. Savills International Development Services


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:

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

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

YY

Hyatt International

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

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

England

Ireland

Scotland

Wales

22. Savills International Development Services

Asia Pacific

Australia

China

Hong Kong

India

Japan

Macau

Malaysia

New Zealand

Singapore

South Korea

Taiwan

Thailand

Vietnam

Europe

Austria

Belgium

Croatia

France

Germany

Gibraltar

Greece

Italy

Luxembourg

Monaco

Montenegro

Netherlands


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

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