The Power of Partnerships in Property Development
At Central Element, we understand the importance of building and maintaining relationships with trusted partners.17/04/2019
By building long-term industry relationships with like-minded financial institutions, architects, builders, joint venture partners, landowners and sales agents, developers can unlock the maximum value in each of their developments.
We pride ourselves on our partnership network, treating them as part of our extended family with whom we share a mutually respectful and beneficial relationship. Our affiliations go beyond the terms of a contract or standard business relationship. Instead, we take the time to develop collegial, collaborative partnerships, and foster open communication to deliver the best result for each development. Here, key members of the Central Element partnership network share their insights on the success of their relationship with us, providing guidance on how developers’ long-term partnerships with financial partners, architects and builders can deliver success.
Financial institutions and investors
“They know our policies and provide quality information to allow the bank to undertake its due diligence. They have a great understanding of their markets. If all my clients were like Central Element, my life would be so much easier.”
– Rod McLellan, Westpac Property Finance
For a property developer to maintain a solid long-term partnership with investors and financial institutions, it is important to recognise and invest in the financial capabilities needed to satisfy the due diligence required. For Nathan Chivas, Development Director, he believes it’s our directors’ financial backgrounds and commitment to absolute financial transparency that have greatly influenced how our financial team operates.
“At Central Element, we procure funding via local and international channels by engaging with our comprehensive network of bank and non-bank finance partners.
We have experienced finance and legal teams, who not only have a thorough understanding of the market, they understand our partners’ policies and requirements, so that this may assist in negotiation and documentation. The result is an exemplary track record that consistently exceeds the criteria of lenders.”
Architects and designers
This collaborative design process incorporates an appreciation for quality design and a commitment to delivering an end product which represents this ethos.”
– Paul Buljevic, Managing Director, PBD Architects
By partnering with trusted and award-winning architects, developers will be able to not merely deliver architectural design solutions but will be able to create architectural legacies. In order to develop a building that truly complements and enhances its location, both pragmatic and aesthetic elements must be considered. As such, every development design process should be a genial collaboration between architects, designers and the developer.
Development Manager, Dean Chivas, believes that we must continuously engage internal and external stakeholders throughout the design process to ensure the optimum design outcome is achieved.
“We work in conjunction with our trusted network of architects with the shared goal of emphasising innovation, sustainability and delivering excellence.
Our design philosophy pays homage to the history of a neighbourhood while looking to revitalise the community. As such, in recent partnerships with architects, our developments have focused on maximising communal spaces, sustainability design features and retaining heritage façades. Meanwhile, input at every stage from our Design and Planning Teams ensures our projects meet market demand and allows us to remain agile to deliver greater uplift.”
Building and construction
“What I liked most about working with Central Element was their hands-on approach to finding solutions, and their good understanding of the building process – this understanding streamlines the entire project from design to final delivery.”
– Hamish Crookes, Richard Crookes Constructions
Paramount to a developer’s success and commitment to quality is the relationship with their builder, who will ensure the quality and construction of the development. Developers should select partners who not only just satisfy the qualification criteria but who they have a positive synergy with. This streamlines the entire delivery process and ensures a consistent quality to build.
Steve Karam is Central Element’s Senior Project Manager and manages the builders on our developments. For him, it is imperative that the developer continues to manage the relationship from the commencement to the handover process, working in tandem with builders and prioritising clear communication. Our builders appreciate this hands-on approach, which has led to several longstanding partnerships.
“Throughout the build process, we are across every detail. We monitor builder performance and contracts, implementing a detailed quality control plan throughout.
Reporting transparency underpins each development through accountability for builders, regular project meetings, PCG meetings, and maintaining complete records of costs, variations and quality.”
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