Working with Wilson Architects – Stage 1
Ever wondered what it’s like to work with an Architect? When seeking out a new project or property to develop, it’s easy to underestimate the value an Architect can offer.
Wilson Architects can help you across all stages of your development project. Following the RIBA (Royal Institute of British Architects) Plan of Work Guide, from Stage 0 (Strategic Definition – the very beginning of considering your project) to Technical Design (Stage 4).
But did you know we can help before RIBA Stage 0?
Our first Stage is “Feasibility to Offer”. This is where we look at your project’s feasibility, and guide you through the offer making process.
Architect involvement throughout the entire process is consistent – with sketches being about 10% of the work we do.
Work with an Architect: “Feasibility to Offer”
The initial step of the “Feasibility to Offer” process, is relatively straightforward. First things first, you’ll hopefully already have found a property opportunity, and we can help assess it’s feasibility to develop.
We would then produce a sketch scheme of what’s possible to do with the property and review the scheme and work out financials. These two elements are intertwined. Wilson Architects reviews this process back and forth to optimize it as much as possible.
Whilst we’re working out what’s possible, we’ll assess site constraints (such as the topography, potential heritage status, and wildlife), research relevant planning policies, apply design principles, and look at how to maximize your GDV (Gross Development Value), mainly by comparing the sold price to comparable properties.
The third step, reviewing financials, would include us clarifying all other project costs, such as planning and construction, and setting realistic budget goals.
The fourth step would be to guide you to obtain a funding agreement in principle. An agreement in principle (which is typically undertaken when applying for regular mortgages) is an estimation of how much money you are able to borrow to purchase or refinance a property. This is something that property developers should typically undertake themselves, by presenting schemes to the broker, and providing the borrower with their financial information.
For step five, an offer would then be made and (hopefully) accepted. Wilson Architects can then begin the Second Stage, which is the “Offer to Purchase Completion” process.
After these two initial processes, Wilson Architects can then help you move on to the RIBA Stages of the project.
If you’ve already found a property you’re keen to develop, it’d be great to work together. Fill in one of our forms here to tell us a little bit more about your project!
