Site finding

If you don’t have one

Discovering the right site is fundamental to your project. We have a continuous stream of sites ready for investment. We also have access to sites immediately as they appear on the market and, in many cases, before they’re generally available.

Equal in importance to finding the perfect site is recognising its possibilities and realising how it can be made to reach its full potential value.  

The search begins with in-depth discussions. Then we create a strategy that will find you the site that matches your investment parameters. We have a range of sophisticated site-location systems that allow us to pinpoint opportunities the moment they come to market.

We also have a truly extensive network of contacts – established over 25 years - that enables us to unearth cost-effective possibilities before they become available to anyone else. So a stream of likely investments is constantly being fed into our site-finding funnel.

If you don’t already have a development opportunity, contact our specialists. We’ll find you exactly the right site.

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Development appraisal

We undertake initial and full financial appraisals, as well as staged re-appraisals. So you – and your investment partners or finance providers - fully understand your development’s financial ramifications.

We undertake initial and full financial appraisals, as well as staged re-appraisals. So you – and your investment partners or finance providers - fully understand your development’s financial ramifications.

It works like this. Once a likely investment opportunity has been identified, our development appraisal teams swing into action. A first-stage, initial site appraisal is prepared, soon followed by a full financial appraisal. Our long years of experience and dedication to keeping ahead of the latest regulatory changes and investment requirements mean we have a range of acknowledged and extremely reliable sources. So we’re able to obtain high-quality inputs for ascertaining both development costs and the gross development value. In fine detail.

We also understand the importance of re-appraising the development as part of the ongoing process. Especially, for example, after completing due diligence.

The diagram below gives you an idea of the different issues that surround any property investment – all of which are carefully weighed through a Wights development appraisal.

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Detailed due diligence

More than a necessary evil. At Wights we see the detailed due diligence process as a way of discovering a project’s in-depth viability and bolstering its success. And we really do put the emphasis on ‘detailed’.

Our due diligence team comprises born fault-finders. In order to ensure that a site is worth progressing they positively look for reasons NOT to make an investment. They expose bad risks and formulate ways of managing main/good risks. They consult with our specialist teams of project managers, planning consultants, architects, engineers and legal experts.

In short, we consider due diligence to be a gruelling, in-depth assessment and analysis of any physical, legal, financial or construction issues that could impact a site’s development. So, at the end of the day, you can proceed with confidence.

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The deal

Purchasing strategies, detailed due diligence reports, finance options and understanding of pre-set conditions. We will arm you with the knowledge you need to bargain hard. And even take a lead role in negotiations.

Naturally the type of deal you strike has a major influence on the profit you’ll make, so Wights take you through the pros and cons of different types of investment; from joint venture to option agreements.

We’ll also help you throughout the acquisition stage, even where there are pre-established conditions of sale. Our detailed due diligence report, and a thorough understanding of the pre-set conditions, will ensure you make an offer that is both advantageous and credible.

Where there are no existing conditions of sale we’ll help you control the deal by structuring a purchasing strategy and build a relationship with the vendors. We can also play a lead role in the negotiations with a view to managing the process and adding profit to your bottom line.

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Finding funding

Our professional finance team will walk you through the complex labyrinth of investment funding. They’ll explain the pros and cons of each option and help you arrive at the right one for your project.

For instance, a light refurbishment needing decorative or internal work to ceilings, walls and flooring only requires short-term funding.

Heavy projects like building extensions and walls, or even demolition and room rebuilding could involve refurbishment bridge finance. Typically lasting three months to a year, these products can occasionally be converted into mortgages at a later date.

Ground-up projects, or a near-total demolition and rebuild, could mean different types of development finance products to cover the cost of the land as well as construction.

Funding example
Say you buy land for £100,000 and spend £500,000. You’ve tied up £600,000 of your capital. With development finance your lender could finance 50% of the land price and 70% of construction costs – thus freeing up £400,000 of your liquid assets for a contingency fund or to invest in other projects.

Corporate investors usually have established funding sources, whilst private investors often use the equity in an existing property portfolio to secure loans. Whatever your circumstances, Wights will help you devise the most cost-efficient financial structure for your development.

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Design, planning and permissions

Great design delights the eye and adds value to any investment project. But the best design goes a step further: it plays a major role in the planning process, and in securing the necessary permissions at every stage of the build.

Wights’ designers have a fine appreciation of how aesthetic appeal adds value to the bottom line. Our team assesses a project’s potential from many different angles in order to make the best use of every single square metre of space, optimising a building’s footprint and thereby maximising the potential return for the investor.

Design informs the planning process, and is critical to obtaining permissions like building controls and party walls, for example, that are subject to their own regulations and permissions. We are experts at managing the various planning constraints and gaining the permissions needed at different stages of the development process – avoiding costly delays and creating a smooth, timely progression through to project completion.

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Construction

By offering you a complete, one-stop construction service we’re able to help you avoid many of the pitfalls of construction: over-running, delays, mis-communication between different contractors and escalating costs.

Wights was established some 25 years ago, and our reputation was founded on our traditional skills and craftsmanship. We’ve built on that reputation over the years so now we’re able to offer you seamless construction, with all our experts - from architects to plumbers - employed by Wights.

The advantages of that in-house capability are obvious. As well as guaranteeing quality workmanship, we can manage the entire process so that one stage flows smoothly into the next. We can be flexible in our contractual arrangements, ensuring mutually comfortable agreements. The one-stop service also means you don’t have to liaise with a diverse set of contractors or employ outside project managers and contract administrators. And the risks inherent in any development process are minimised.

Work with Wights and you’ll find the right hand does know what the left is doing.

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Exit strategy

There are any number of possible exit strategies once your project is completed. Talk to our experts about the final step - before you take the first one - and we’ll make sure you maximise your returns.

If you’re planning to sell your completed building, our energetic sales and marketing team will use all the latest routes to market and offer you a complete sales package to make sure you realise the optimum price.

But selling isn’t the only available exit strategy. Talk to our experts when you’re putting your business plan together and you may find some innovative ways to enhance your bottom line; by renting, for example, or even selling before construction for planning gain. 

Managing the future
If you decided to take the corporate letting or traditional rental route, you should talk to our management department. They can show you how to maximise your returns whilst enjoying a complete management service; from finding and dealing with tenants to ongoing maintenance and repairs.

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Interested in partnering with Wights?

Whether you’re a national organisation looking for a major investment project, or a private investor wanting to make the most of a residential project, the first step is a conversation. To lay the foundations, contact us now.

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