6. Property Development

This section provides an overview of key issues and processes for organisations seeking to carry out building or refurbishment works as part of their projects. Choose a topic within this category from the above menu to learn more about a specific area.

Key Governance Issues to Consider

If you have arrived at this point, then as a board you have a clear rationale and business case, specification for the building, detailed costs, and funding for the transfer and a forward business strategy for your soon to be expanded operation. You are now addressing contracting and contract management through to completion and taking ownership.

Questions and Issues:

• How will this major and complex process be resourced?
• What needs to be done to minimise the effect that the transfer has on your core business?
• What needs to be done to prepare for the future expanded operation?

Actions:

• Managing any refurbishment or new-build process internally will place a big demand on capacity. If your senior staff say they can handle it, challenge them. Using professional help will incur costs but could take a huge load off your collective shoulders. Your architect may be the right person but project management is a particular skill. Get the team focused on preparation for operating the new building. If you will have spaces to let then marketing well in advance is important and often gets lost in the immediacy of the construction process.
• The team need to be on top of planning / recruiting the required staffing resource, establishing appropriate leases or licenses. Ensure that appropriate policies are being drafted. Have a lettings policy which addresses community requests for free use of space, or for use by political groups.