Aprao Presents...: Recent Episodes
Aprao
In each episode, the team at Aprao presents you with a new idea, a new solution, a new opportunity to do things better than you did yesterday.
There are no gurus or get-rich-quick schemes here. This is a place for experts and innovators, sharing the best of what we’ve learned in the past, with a look forward to the future of property development.
“You need a system that puts the politicians, the planning departments, the planning officers under pressure to deliver a minimum amount of homes every year, or there are severe ramifications for them.” Jonathan Vandermolen is the CEO of Vandermolen Real Estate and has over 35 years of experience within the property industry. He founded the Blenheim Bishop agency in 1991, which was the first independently owned land, development consultancy and new homes business before trying his hand at development and forming Vandermolen Real Estate in 2018. Since then, Jonathan has developed a reputation as a thought leader in the residential development market. In this episode, Jonathan explains that if he were Housing Minister he would create a planning structure that would have to be adhered to by all local councils, no matter what political party they were from, and ensure councils are obligated to provide a set amount of affordable housing, which start at 40 or 50 units in size. Over time, Jonathan would ensure that the planning system would mandate local authorities to have a minimum number of planning consents granted. Finally, Jonathan explains the need for more greenbelt housing to provide more people with a better quality of life - with environmentally friendly homes at the heart of any new homes policy.
"I think the role of Housing Minister is a really challenging one because it lacks permanence...and yet you're dealing with a sector and an area of work that needs long-term strategic thinking." In this episode we speak to Tariq Shah, the Director at the Vigo Group, a firm that specialises in transformational property-based projects, taking under-used or decaying assets and breathing life into them. Tariq is also Chairperson for Doncaster Town Deal Board and the Chairman of The Sleep Charity. Tariq explains that if he were Housing Minister, he would prioritise creating plurality in the housing industry; particularly focusing on how to support the competitiveness of SME housebuilders through partnering with tech companies to provide productivity and digitisation infrastructure to this group. He discusses how to stimulate long-term consistency in the planning system and also explains the benefits of further investment into infrastructure in areas across the country. He emphasises the need for stakeholders across the community to feel included in decision-making around housing developments and that after 10 years, in the role, digitisation, efficiency and productivity should be repeatable pillars for the housing sector.
“We all know that diversity is key in any flourishing economy and therefore bringing a lot more smaller developers to the table, allowing them more access to a piece of that pie, will in effect give us a better quality of housing stock.” In this episode, we speak to Rutu Buddhdev, the Managing Director of Amara Property, a firm that designs and builds high-end residential homes and apartments in the UK. Amara Property specialises in luxury home developments and interiors, working on the total life cycle of development from planning, to build management, sale and exit strategies for investors. In this episode, Rutu explains that as Housing Minister, she would look to extend what Help To Buy has to offer, for both buyers and developers, to increase the housing supply and the projects available. Educating developers on the requirements around carbon emission reduction, and targeting supply chain issues will be key areas she would also prioritise.
“In the first 100 days, as far as the outside world is concerned, I would do absolutely nothing.” In this episode, we speak to Dominic Grace FRICS, the Principal at Dominic Grace Limited. Dominic previously spent 37 years at Savills and was Head of London Residential Development. He has also spent time as a Senior Advisor, Board Member and Investor to various businesses within the property and real estate tech industry. Dominic tells us that as Housing Minister he would carefully spend time curating a team of experts within the housing sector to surround him. He explains how the climate crisis, Brexit and the skills shortages will all be major considerations to respond to and if he were Minister after ten years, that ambitions around technology will have been realised and hardwired into the everyday processes in the housing system.
“In a digital age, we've got the opportunity to create over a hundred thousand jobs, cut carbon annually by about 20%, and also the opportunity to save something like £7 billion pounds annually just in energy costs.” Martin Prince-Parrott RIBA FRSA is the Director of Development and Architecture at SUB/URBAN WORKSHOP. Responsible for acquiring and bringing forward retrofit, new build and custom development, he is also leading on ESG and decarbonisation. Prior to his current role, he has worked on award-winning projects in his portfolio and with large firms like Microsoft and Barclays. In this episode, Martin explains that if he were Housing Minister, he would address the cladding scandal with policies to support those whose assets have been negatively impacted. He addresses how structured retrofit policies will help the sector to be in with a chance of reaching net-zero by 2050. Finally, Martin explains the potential for home-grown timber to address supply chain shortages and ways the housing sector can help build and reshape communities for the better.
“I think any developer going into a scheme without contingency are headed towards potential cost overrun, we know that through the life of a scheme it won’t always go to plan so we will expect a contingency”. In this episode, Aprao speaks to Daniel Joyce, a Director within the Property Finance team at Close Brothers. Close Brothers is a leading merchant banking group and one of the largest 250 companies listed on the London Stock Exchange. Close Brothers Property Finance has over 40 years of property lending experience and supports experienced lenders across England, Scotland and Wales. In this episode, Daniel Joyce lends on his experience to provide advice for developers within our current market. We create an example Aprao project that you can follow as we go along, looking at how to structure sales, build costs and site acquisition. We also cover what lenders are looking for when it comes to experience and key metrics, as well as what to expect with typical project terms.
“The demand for consented sites at the moment is sky-high. The level of deals of the land scene at the moment is highly competitive...we’ve seen some pretty barmy numbers as a consequence of the demand.” In this episode, Aprao speaks to Kevin Ellis, Founder of the Land & New Homes Network - a national association of professionals from across the housing industry, creating developments for the benefit of all. We cover a range of topics in this session including the problems with the land and site buying process in the current market. We also discuss what vendors and sellers are looking for and how you can manage vendor expectations. Finally, we use Aprao to practically show how our platform can help you negotiate on sites and unlock new land opportunities. For your information, this episode was originally recorded in early 2021.
“We’re a long way behind a lot of other sectors but there has been a lot of venture capital that has gone into construction [technology]...I really see this decade as the decade for significant change”. In this episode, Aprao speaks to the co-founder of C-Link, Paul Heming, on the topic of innovation within the construction industry. In 2015 Paul Co-Founded C-Link, the #1 construction procurement software for SMEs, to bring the expertise of big business to smaller, more nimble property developers and main contractors. With a globally-notable background in QS and property development, Paul brings a wealth of knowledge and expertise to the fore, in this conversation about innovation, impact, and change. We cover the problems with existing methods of procurement, what the construction sector will look like over the next decade, and how you can use technology to make an impact in your development and construction business.
“In terms of the last five years, there's been a big shift in mindset when it comes to technology. What COVID has done is catalyse that massively and it's changed the equation - not just for real estate but every sector.” In this episode, Aprao speaks to the co-founder of Native Finance, Prasanna Kannan on the intersection of fintech and proptech. In 2015, Prasanna founded Native Finance, the leading tech platform for real estate finance in Europe. Since its launch, the platform has seen £800m+ in deal flow and over £100m of completions in bridging, development and investment finance. The platform has also won a number of industry awards including the overall Tech category at the 2020 Estates Gazette awards. With a reputable background in real estate finance and tech, Prasanna brings a unique perspective and high level of expertise to the table for this conversation on the intersection of FinTech and PropTech. We cover what the main tech innovations are right now, what the future of fintech in property looks like and how you can embrace this change.
“It’s a really interesting time to be looking at the future of data in a sector which is arguably behind the curve compared to other sectors.” In this episode, Aprao speaks to Andrew Knight from the Tech Partner Programme and Data Standards at the Royal Institution of Chartered Surveyors. As leaders who establish, promote, and enforce the highest professional standards in property development, how does the RICS see the future of tech in property? In this webinar we cover a range of topics, including the story of tech adoption so far in property, how the RICS has been promoting tech, tech trend predictions for the next few years and the vision of the future for the next generation of surveyors.
In this exclusive series, Daniel Norman will teach you how to run property development appraisals to a professional standard, explaining the art and the science behind property development finance, and why your appraisals matter so much. In this final episode, Daniel explains how to go about calculating residual site values, for realistic projections and fast business decision-making.
In this exclusive series, Daniel Norman will teach you how to run property development appraisals to a professional standard, explaining the art and the science behind property development finance, and why your appraisals matter so much. In this episode, Daniel covers cashflow forecasting, to ensure your development project runs smoothly from beginning to end.
In this exclusive series, Daniel Norman will teach you how to run property development appraisals to a professional standard, explaining the art and the science behind property development finance, and why your appraisals matter so much. In this episode, Daniel explains how development finance works - how it's structured, and everything you need to know about how best to manage it.
In this exclusive series, Daniel Norman will teach you how to run property development appraisals to a professional standard, explaining the art and the science behind property development finance, and why your appraisals matter so much. In this episode, Daniel explains project costs, from construction all the way through to marketing.
In this exclusive series, Daniel Norman will teach you how to run property development appraisals to a professional standard, explaining the art and the science behind property development finance, and why your appraisals matter so much. In this episode, Daniel covers the different types of revenue in development feasibilities and how to account for them.
In this exclusive series, Daniel Norman will teach you how to run property development appraisals to a professional standard, explaining the art and the science behind property development finance, and why your appraisals matter so much. In this episode, Daniel gives a detailed introduction to the appraisal and feasibility process.
“When I came across and started this product I really wanted to bring the agility and speed that the bridging finance market has and bring it into development finance.” In this episode, we speak to Guy Murray, the Head of Development Finance at West One Loans, who provides insight into the loan sizes that West One Loans offer for experienced developers, and how West One Loans ensures it can help developers grow with funding. Learn about why customers come to West One Loans over challenger banks and why it’s so important that developers send over structured development appraisals when seeking funding to avoid the common pitfalls when applying. West One Loans are a leading provider of specialist mortgages and property finance, trusted by homeowners, landlords and property investors to support their financial goals. It specialises in creating integrated lending solutions across the property investment lifecycle, encompassing acquisition, planning, development and sale. Guy started his career at West One Loans within the bridging finance team before setting up the Development Finance division over three years ago.
“The key thing about what we provide is we’re proud of the fact that it’s quite a simple, flexible product...we really do believe funding can be quite straightforward” In this episode, we speak to David Norman, the Founder of Davon, who provides a snapshot into the range of projects Davon funds, from multi-units to low-value apartments, through to high-value single units. Find out how Davon evaluates the viability of schemes, and the terms Davon issues to benefit developers. Davon is a Mezzanine Finance Lender for Property Development projects. It was established in 1996 and since then has supported SME and independent residential property developers, expanding across the UK. Davon structures and provides finance for property projects and are able to structure all forms of funding to include senior debt, mezzanine, equity and joint venture finance projects. David Norman has been the Director of Davon for the last 25 years. His previous experience prior to founding Davon came from working in his father’s family business where David was directly involved in building property investment portfolio.
“At Close Brothers, you will generally find that when you get an account manager, you stick with them, they stay with you...and your relationship will remain with them throughout your life.” In this episode, we speak to Daniel Joyce, Director within the Property division at Close Brothers, who explains how Close Brothers supports residential developers. Find out how Close Brothers makes allocations to support developers, often funding up to 85% of the cost of projects. Daniel takes us through the process Close Brothers undergoes when evaluating project proposals, and why developers should come to Close Brothers due to their specialist, service-driven approach. Close Brothers is a leading merchant banking group and are one of the largest 250 companies listed on the London Stock Exchange. Close Brothers Property Finance has over 40 years of property lending experience and supports experienced lenders across England, Scotland and Wales, and provides loans from between £750,000 to a maximum of £20 million. Daniel has been on the Property board for around 6 years now, overseeing his own team and has the responsibility for lending to developer clients, from family businesses to SME housebuilders operating regionally.
“We can support both seasoned developers and what we like to call emerging developers - we’re more than able to consider those applications and those customers and support them where we do think they do have the skills and the right project team around them” In this episode, we speak to Stephen Johnson, Partner at LendWell, who covers LendWell’s view of the current real estate market, how it is offering assistance to both experienced and emerging developers, and the kinds of projects LendWell is able to support. LendWell is a specialist lender consisting of a team of experts with a long track record in the property sector. It covers both commercial and residential schemes and provides property finance to professional investors and developers, covering Bridging Loans, Refurbishment Loans, Development Loans and Large Loans. Stephen is a chartered accountant by profession and has spent his career in specialist property lending as well as a proportion of it undertaking his own property developments and property investments, which provides him with unique insight when evaluating commercial and residential property projects. Prior to becoming a partner at LendWell, he was also the founder of startup challenger bank Shawbrook.
“Our balance sheet of commitments is about a billion pounds for property development - that basically translates into supporting the development of about five and a half new homes per annum across a range of clients.” In this episode, we hear from Paul de Croos, who is the Head of Origination for Property Development at United Trust Bank. Paul offers his insight into United Trust Bank’s process for evaluating development projects and provides some advice for developers looking to raise finance for their residential projects with the Bank. Find out how much United Trust Bank is able to finance for certain projects and about the exciting partnerships the Bank is working with to create the best experience for its clients. United Trust Bank is a UK specialist bank providing a range of secured funding solutions including development, structured, bridging, mortgages and asset finance. Paul has himself spent 20 years working in banking, across multiple sectors, including both development finance and investment finance for large and medium-size housebuilders and private equity and institutional fund investors.
Why construction needs to go digital. “There will always be construction happening on-site and it’s here that I think digital can really shine to solve this information problem.” In this episode, Aprao’s Julian Brockhurst speaks to Robert Sobyra, Director of Research & Digital at Construction Skills Queensland, about the increasing viability of digitisation within construction. Robert is responsible for driving CSQ’s research agenda, he is a leading thinker at the intersection of construction and skills and is a postgraduate researcher at the University of Queensland, with a special interest in regional economic growth. Topics covered in this episode include a high-level overview of the current construction market, such as the house building boom and its intersection with the material supply chain and the labour market shortage, as well as a detailed discussion about how we can adopt digital and technological solutions to streamline construction processes. Robert talks about CSQ’s upcoming innovation research projects, including investigating virtual reality as a use case for training programmes (something that has never been done before within the construction industry). “People often ask this question in my industry, ‘why do we need to innovate? We’ve been just fine for the last 300 years doing it this way’. And it is true, we have been, but ultimately there is going to be a day of reckoning, at least around this demographic disruption - an economy that doesn’t innovate, that doesn’t get productivity gains, is a stagnant economy, and living standards will fall.”
Global RICS data standards and what this means for the property and tech industry. Are you interested in the future of data adoption within the property sector? In this episode, we speak to Andrew Knight from the Tech Partner Programme & Data Standards at the Royal Institute of Chartered Surveyors, who takes us through the global RICS data standards, and what it means for the property and tech industry. Andrew is a highly experienced technology specialist with a strong commercial background working for RICS, a global professional body in land, property, construction and infrastructure. He currently leads the programme and adoption of RICS’s data standards, the support of data exchange between service providers, technology companies and end-users of data. Topics included in this webinar cover the evolution of innovation in the property sector, how the tech industry can be progressed in the real estate market, barriers to data adoption, the need for further digitisation in the industry and how collaboration within the sector could make this happen. “Working together to assemble these full digital equivalents of assets – proptech firms and other actors need to understand their part in that story and they need to help by assembling this data for customers” - Andrew Knight
How can we create smarter communities within the Australian development space? In this episode, Julian Brockhurst speaks to Kirsty Chessher-Brown on this issue in relation to Queensland. Kirsty is the CEO of UDIA Queensland, the largest urban development network of community creators in Queensland, and has wide-ranging experience developing the Institute’s policy, stakeholder engagement, and research endeavours as well as consulted on a significant amount of state and local government policy development. Joining the Institute in 2006, Kirsty has directly overseen the growth of the UDIA’s EnviroDevelopment program and was instrumental in the establishment of the Research Foundation. Topics covered in this conversation includes how best to drive change within Queensland’s development industry to facilitate greener, smarter and more resilient communities, whether this be through advanced research methods or the development of effective policy. We also cover how to develop in line with the UN’s Sustainable Development Goals. What technology have UDIA noticed developers embracing?
Why are accountants as important as project managers for developments? In this episode Aprao’s Julian Brockhurst speaks to Jayden Coulston, a Chartered Accountant at BDO Australia specialising in the areas of debt advisory and business restructuring with over 10 years of experience, about the common pitfalls developers can avoid by engaging with an accountant early on in a project. The topics covered include what to avoid when handling the finances around a development project, how developers can innovate and structure to gain a competitive advantage and the impact of innovative tech solutions on BDO. “In the accountant world, I believe that we can have just as much of an influence as a project manager on the profitability of a project...We can assist as a second set of eyes on a feasibility. All those areas even individually can make or break a project.” – Jayden Coulston
How technology is changing the commercial property services industry. In this episode, Julian Brockhurst chats to Luke Borg, a Senior Project Manager at Savills QLD. Having successfully managed the delivery of projects across various asset classes and for public, private and not-for-profit clients, Luke has led a range of projects from acquisition through to completion. With 13 years of experience in the construction and property industry, this episode is full of insights into the exciting impact that technology is having on the commercial property landscape. Topics covered in this episode include the significant changes to the commercial property services industry over the past five years, how technology can overcome the pain points in the sector and why innovation is so vital for driving the industry forward. What trends can we expect to see in the future?
How to make a construction loan finance application like a pro. Does the thought of a loan finance application stress you out? It can often be difficult to know where to start. In this episode, we will touch on all the elements of how to make a successful construction finance application in this conversation with Matthew Royal, Co-founder Development Finance Partners. Prior to co-founding Airlisting.com & Development Finance Partners, Matthew was an Associate Director of Property Finance at BankWest, with an extensive understanding of the financial criteria and methodology used in assessing Property Development and Investment proposals. Topics covered in this episode include what steps developers can take to reduce their risk and and increase their return on equity, the common mistakes developers make when seeking funding and most importantly, how to avoid these errors.
How can you utilise the power of proptech to drive your development projects further? In this episode, Aprao chats to Isaac Coonan from Proptech Brisbane about how developers can leverage Australian proptech companies. Isaac has extensive experience in building some of the country's leading innovation and tech communities with a particular focus and passion for the property technology cluster. He’s currently the Senior Industry Development Manager for Brisbane Economic Development Agency, leading the city of Brisbane's Proptech strategy along with being a global advisor to Second Century Ventures and their accelerator program, REACH. This discussion includes some of the proptech companies developers should have their eye on in the market, helpful tips for how developers can keep ahead of trends in proptech and some key examples of developers who have leveraged this emerging sector to their benefit in the past.
How can you efficiently de-risk your next development project? In this episode, Aprao speaks to Clinton Arentz, Head of Lending at Trilogy Funds Group to discuss how the lending industry has adapted over the last few years and how developers can navigate these changes for the best outcome for their projects. Trilogy Funds also operates managed investment trusts holding assets across mortgages, direct real property and other financial assets on behalf of over 14,000 investors. When acting on behalf of their clients, the Trilogy team utilise their extensive understanding of finance and fundraising to acquire completed stock or sites on which to develop commercial, industrial, childcare, specialist medical and NDIS projects around Australia. Topics covered in this episode include key credit enhancement strategies, Trilogy’s generalised funding parameters and a whole toolkit of knowledge developers can use when upskilling their financials.
In this episode, we discuss how far the development industry has come over the last 5 years, the biggest pain points facing developers today, how best to approach a relationship with technology, and what solutions are currently adding the most value. We're looking ahead to the next 5 years - what can we expect to see on the horizon, and how will property developers respond in order to stay ahead?