Equity Partner Required - Unkomanzi Park Residential Development, KZN, South Africa

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Information about Equity Partner Required - Unkomanzi Park Residential Development, KZN,...
Real Estate

Published on February 11, 2009

Author: Thinus_Pienaar

Source: slideshare.net

Description

Jason Wilkes our principle at Tyson Properties has launched the following development 18 months ago and is looking for an equity partner for phase two of the Umkomanzi park development, I am sure that this exciting development with secure capital investment returns would be of interest to you or some of your more serious contacts or clients. As a referral to anyone whom would be interested to come to the party on this one - as you will see from the intro letter plus attachments that there is $$$ to be made, for the client as well as commission for the referrer. Taking the current exchange rate there is no better time than the present to invest off-shore (Foreign Clients), and what better vehicle than Real Estate.

OCTOBER 2008 FEASIBILITY UPDATE – UMKOMANZI PARK Erf 559 (of 536) and Rem 17 –umkomanzi drift Development Facilitators, Property Brokerage, Project and Construction Management to the Property Industry Jason Wilkes and Eric Quevauvilliers

Umkomanzi Drift Consolidated Project Summary

DEVELOPMENT: Umkomanzi Park Consolidated ESTIMATED DEVELOPMENT COST: Date : October-08 REVISION : 5 Revision Date : 11-Dec-08 % of % of Land Infrastructure Cost Dev Cost Selling Building Cost 0.0% Bulk contribution 12,420,000 7.7% 5.4% Service infrastructure 59,966,871 37.1% 25.8% Entrance,Connections 16,586,614 10.2% 7.1% Pre-tender escalation 1,750,000 1.1% 0.8% Post-tender escalation 2,270,000 1.4% 1.0% Estimated Infrastucture Cost 92,993,485 57.5% 40.1% Professional fees & Costs 14,300,000 8.8% 6.2% Interim interest on Construction Period 15.0% 17,940,263 11.1% 7.7% Sub-total : Infrastructure 125,233,748 77.4% 54.0% Land Cost Purchase price of land 18,500,000 11.4% 8.0% Transfer & Legal costs, Company etc 110,000 0.1% 0.0% Interim Interest on Land 15.0% - 0.0% 0.0% Sub-total : Land 18,610,000 11.5% 8.0% Production Costs Legal/Audit Company / Bond Fee 720,000 0.4% 0.3% Land Surveyor Certificates 250,000 0.2% 0.1% Rates & Taxes 360,000 0.2% 0.2% Services Consumables 360,000 0.2% 0.2% Contingency 3,130,000 1.9% 1.3% NHBRC - 0.0% 0.0% Interim Interest - 0.0% 0.0% Bond Finanace Raising Fee 1,500,000 0.9% 0.6% Submission Fees & Disbursments 500,000 0.3% 0.2% Marketing 0.50% 1,000,000 0.6% 0.4% Sales Commission & Marketing 5.00% 10,178,427 6.3% 4.4% Sub-total : Production Costs 17,998,427 11.1% 7.8% TOTAL DEVELOPMENT SALES VALUE COST RATIO Land Infrastructure Cost 125,233,748 77.4% 54.0% Land Cost 18,610,000 11.5% 8.0% Production Costs 17,998,427 11.1% 7.8% SUB-TOTAL 161,842,175 100.0% Margin 25.8% 41,726,212 18.0% 203,568,387 VAT @ 14% 28,499,574 100.0% 12.3% TOTAL Development Sales Value 232,067,961 100.0% Revenue Breakdown 232,068,125.00 Individual Stand Selling 291 R 185,750.00 54,053,250.00 Intermediate Residential 371 R 145,000.00 53,795,000.00 General Residential 431 R 145,000.00 62,495,000.00 Commercial GROSS m2 Selling 79,645 R 775.00 61,724,875.00 Umkomanzi Park -Start Aug 07 CONSOLIDATE 11 Nov08 Present Summary Presentation]

Umkomanzi Drift Phase 1__ Summary and Equity Cashflow

DEVELOPMENT: UMKOMANZI DRIFT ESTIMATED DEVELOPMENT COST: Date : December-06 REVISION : 14 Revision Date : 11-Dec-08 % of % of Cost per Land Infrastructure Cost Dev Cost Selling Opportunity Building Cost 0.0% Bulk contribution 3,942,000 5.1% 3.5% R 5,490.25 Service infrastructure 29,634,833 38.3% 26.4% R 41,274.14 Entrance,Connections 3,498,376 4.5% 3.1% R 4,872.39 Pre-tender escalation 2.0% 730,000 0.9% 0.7% R 1,016.71 Post-tender escalation 2.5% 950,000 1.2% 0.8% R 1,323.12 Estimated Infrastucture Cost 38,755,210 50.1% 34.6% R 53,976.61 Professional fees & Costs 14.5% 5,620,000 7.3% 5.0% R 7,827.30 Interim interest on Construction Period 15.0% 8,340,853 10.8% 7.4% R 11,616.79 Sub-total : Infrastructure 52,716,062 68.2% 47.0% R 73,420.70 Land Cost Purchase price of land 16,000,000 20.7% 14.3% R 22,284.12 Transfer & Legal costs, Company etc 0.5% 80,000 0.1% 0.1% R 111.42 Interim Interest on Land - 0.0% 0.0% R - Sub-total : Land 16,080,000 20.8% 14.3% R 22,395.54 Production Costs 0.50% 340,000 0.4% 0.3% R 473.54 Legal/Audit Company Assembly/ Bond Fe Land Surveyor ERF Certificates 0.20% 140,000 0.2% 0.1% R 194.99 Rates & Taxes 0.25% 170,000 0.2% 0.2% R 236.77 Services Consumables 0.25% 170,000 0.2% 0.2% R 236.77 Contingency 2.50% 1,320,000 1.7% 1.2% R 1,838.44 NHBRC 0.00% - 0.0% 0.0% R - Interim Interest - 0.0% 0.0% R - Bond Raising Fee R 35 million 2.00% 700,000 0.9% 0.6% R 974.93 Submission Fees & Disbursments 0.35% 240,000 0.3% 0.2% R 334.26 Marketing 0.73% 500,000 0.6% 0.4% R 696.38 Sales Commission & Marketing 5.00% 4,914,748 6.4% 4.4% R 6,845.05 Sub-total : Production Costs 8,494,748 11.0% 7.6% R 11,831.13 TOTAL DEVELOPMENT SALES VALUE COST RATIO Land Infrastructure Cost 52,716,062 68.2% 47.0% R 73,420.70 Land Cost 16,080,000 20.8% 14.3% R 22,395.54 Production Costs 8,494,748 11.0% 7.6% R 11,831.13 SUB-TOTAL 77,290,810 100.0% R 107,647.37 Margin 27.18% 21,004,002 18.7% R 29,253.48 98,294,812 R 136,900.85 VAT @ 14% 13,761,274 100.0% 12.3% R 19,166.12 TOTAL Development Sales Value 112,056,086 100.0% R 156,066.97 Variables Opportunity Analysis Escalation = 2.50% Erf Gross Area Opportunity Interest = 15.0% Yield Planning period = 9 Erf 559 475,506.00 856 Construction period = 24 Erf 536 325,147.00 585 Total Professional Fees 14.5% Marketing Cost = 1.0% 800,653.00 1441 Sales Commission = 5.0% Roads & 50% 718 Contingency = 2.5% Environmental factor NHBRC = 1.3% R 156,066.97 Units per hectare 18 DEVELOPMENT ASSUMPTION ACTUAL YIELD 718 Revenue Breakdown Average Opportunity Selling R 156,066.97 R 112,056,086.14 112,056,250.00 Individual Stand Selling 195 R 185,750.00 36,221,250.00 Intermediate Residential 210 R 145,000.00 30,450,000.00 General Residential 313 R 145,000.00 45,385,000.00 Umkomanzi Park -Start Aug 07 CONSOLIDATE 11 Nov08 Present Presentation Phase 1

47 Apr-11 30 -105 Feb-11 118 -164 Dec-10 -120 359 Oct-10 536 6 226 59 Aug-10 4, 9 78 36 4, 92 -243 Jun-10 2 54, 186 53 4, 8 378 34 Apr-10 4, 0 123 97 3, 47 40 Feb-10 8 3, 07 142 8 3, 65 142 Dec-09 6 3, 23 302 5 3, 1 88 22 Oct-09 3, 34 Cash Flow incl VAT 73 1 3, 61 344 Aug-09 0 3, 7 78 71 Months Cumulative 2, 39 270 Jun-09 6 2, 9 11 36 2, 8 148 35 Apr-09 2, 0 344 21 Umkomanzi Drift Updated Cash Flow - Phase 1 2, 6 47 86 Feb-09 1, 18 265 8 1, 3 126 55 Dec-08 1, 27 707 4 1, 0 66 Oct-08 72 5 37 65 8 37 Aug-08 61 1 30 58 0 37 Jun-08 55 3 87 51 6 37 Apr-08 42 9 56 38 333 Feb-08 33 0 111 30 8 68 Dec-07 18 1 39 12 25 82 Oct-07 29 57 29 29 Aug-07 4500 3500 2500 1500 500 -500 Rand (R 000's )

Umkomanzi Drift Phase 2__ Summary and Equity Cashflow

DEVELOPMENT: REM 17 Umkomanzi Drift ESTIMATED DEVELOPMENT COST: Date : March-08 REVISION : 8 Revision Date : 11-Dec-08 % of % of Cost per Land Infrastructure Cost Dev Cost Selling Opportunity Building Cost 0.0% Bulk contribution 8,478,000 10.0% 7.1% R 17,127.27 Service infrastructure 30,332,037 35.9% 25.3% R 61,276.84 Entrance,Connections 13,088,238 15.5% 10.9% R 26,440.88 Pre-tender escalation 2.0% 1,020,000 1.2% 0.8% R 2,060.61 Post-tender escalation 2.5% 1,320,000 1.6% 1.1% R 2,666.67 Estimated Infrastucture Cost 54,238,275 64.1% 45.2% R 109,572.27 Professional fees & Costs 16.0% 8,680,000 10.3% 7.2% R 17,535.35 Interim interest on Construction Perio 15.0% 9,599,411 11.4% 8.0% R 19,392.75 Sub-total : Infrastructure 72,517,686 85.8% 60.4% R 146,500.38 Land Cost Purchase price of land 2,500,000 3.0% 2.1% R 5,050.51 Transfer & Legal costs, Company etc 1.0% 30,000 0.0% 0.0% R 60.61 Interim Interest on Land - 0.0% 0.0% R - Sub-total : Land 2,530,000 3.0% 2.1% R 5,111.11 Production Costs 0.50% 380,000 0.4% 0.3% R 767.68 Legal/Audit Company / Bond Fee Land Surveyor Certificates 0.15% 110,000 0.1% 0.1% R 222.22 Rates & Taxes 0.25% 190,000 0.2% 0.2% R 383.84 Services Consumables 0.25% 190,000 0.2% 0.2% R 383.84 Contingency 2.50% 1,810,000 2.1% 1.5% R 3,656.57 NHBRC 0.00% - 0.0% 0.0% R - Interim Interest - 0.0% 0.0% R - Bond Raising Fee R 40 m 2.00% 800,000 0.9% 0.7% R 1,616.16 Submission Fees & Disbursments 0.35% 260,000 0.3% 0.2% R 525.25 Marketing 0.66% 500,000 0.6% 0.4% R 1,010.10 Sales Commission & Marketing 5.00% 5,263,679 6.2% 4.4% R 10,633.69 Sub-total : Production Costs 9,503,679 11.2% 7.9% R 19,199.35 TOTAL DEVELOPMENT SALES VALUE COST RATIO Land Infrastructure Cost 72,517,686 85.8% 60.4% R 146,500.38 Land Cost 2,530,000 3.0% 2.1% R 5,111.11 Production Costs 9,503,679 11.2% 7.9% R 19,199.35 SUB-TOTAL 84,551,365 100.0% R 170,810.84 Margin 24.51% 20,722,210 17.3% R 41,863.05 105,273,575 R 212,673.89 VAT @ 14% 14,738,300 100.0% 12.3% R 29,774.34 TOTAL Development Sales Value 120,011,875 100.0% R 242,448.23 Variables Opportunity Analysis Escalation = 2.50% Erf Gross Area Opportunity Interest = 15.0% Yield Planning period = 9 Rem 17 813,431.00 1220 Construction period = 24 - 0 Total Fees + costs = 16.0% Marketing Cost = 1.0% 813,431.00 1220 Sales Commission = 5.0% Roads & 31% 495 Contingency = 2.5% Environmental factor NHBRC = 1.3% R 242,448.23 Units per hectare 15 DEVELOPMENT ASSUMPTION ACTUAL YIELD 375 Commercial 30 Revenue Breakdown Average Opportunity Selling R 242,448.23 R 120,011,874.56 120,011,875.00 Individual Stand Selling 96 R 185,750.00 17,832,000.00 Intermediate Residential 161 R 145,000.00 23,345,000.00 General Residential 118 R 145,000.00 17,110,000.00 Commercial GROSS m2 Selling 79,645 R 775.00 61,724,875.00 Umkomanzi Park -Start Aug 07 CONSOLIDATE 11 Nov08 Present Presentation Phase 2

118 5 Apr-11 6,05 101 0 5,62 76 3 Feb-11 5,65 231 4 5,82 81 6 Dec-10 5,57 201 0 5,84 301 3 Oct-10 5,88 421 8 5,40 151 8 Aug-10 5,16 206 0 4,93 161 6 Jun-10 4,77 151 6 4,82 101 1 Apr-10 4,45 51 0 4,07 Monthly Cashflow incl VAT 51 5 Feb-10 3,95 51 4 3,90 51 2 Dec-09 3,78 145 6 3,66 121 0 Oct-09 3,38 Cummulative 48 1 3,29 145 0 Aug-09 3,14 Months 73 3 2,73 228 7 Jun-09 2,65 48 4 2,42 198 3 Apr-09 2,80 595 8 2,58 78 9 Feb-09 1,59 278 3 1,52 UMKOMANZI PARK CASHFLOW PHASE 2 96 6 Dec-08 1,33 929 8 1,23 73 186 Oct-08 48 109 48 Aug-08 55 0 0 Jun-08 0 0 Apr-08 0 0 Feb-08 0 0 Dec-07 0 0 Oct-07 0 0 Aug-07 7000 6000 5000 4000 3000 2000 1000 0 Rand (000)

Umkomanzi Drift Town Planning Diagram

1 732m² 101 756m² 201 908m² 301 821m² 2 909m² 102 774m² 202 1020m² 302 763m² 3 710m² 103 794m² 203 930m² 303 837m² 4 931m² 104 716m² 204 930m² 304 951m² 5 1280m² 105 738m² 205 925m² 305 701m² 6 23500m² 106 787m² 206 925m² 306 725m² 7 5365m² 107 747m² 207 1082m² 307 759m² 8 1125m² 108 874m² 208 6352m² 308 837m² 9 1125m² 109 1016m² 209 9516m² 309 1045m² 10 1125m² 110 1622m² 210 7933m² 310 825m² 11 1125m² 111 793m² 211 4931m² 311 848m² 12 1125m² 112 553m² 212 3324m² 312 4893m² 13 1558m² 113 556m² 213 10281m² 313 10774m² 14 12115m² 114 967m² 214 6599m² 314 707m² 15 700m² 115 830m² 215 7232m² 315 707m² 16 700m² 116 745m² 216 6226m² 316 707m² 17 700m² 117 873m² 217 6221m² 317 707m² 18 700m² 118 843m² 218 723m² 318 707m² 19 700m² 119 843m² 219 708m² 319 707m² 20 700m² 120 843m² 220 705m² 320 707m² 21 4468m² 121 843m² 221 700m² 321 723m² 22 743m² 122 15872m² 222 700m² 322 5947m² 23 777m² 123 951m² 223 700m² 323 1674m² 24 767m² 124 889m² 224 700m² 324 1847m² 25 700m² 125 1365m² 225 700m² 325 3834m² 26 700m² 126 794m² 226 700m² 326 2461m² 27 716m² 127 1042m² 227 755m² 327 2682m² 28 8932m² 128 1144m² 228 737m² 328 2025m² 29 11528m² 129 19840m² 229 702m² 329 2250m² 30 781m² 130 6599m² 230 701m² 330 2072m²

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