Services Profile€¦ · • Project Integration Management • Project Execution Plan • Active Management of multiple Design Teams • Schedule Management Project Management WKN

Valuation | Development | Construction | Asset Management

Services Profile

IntroductionWKN Real Estate Advisors (WKN) is a solutions based professional

services firm focused on real estate.

Under the stewardship of directors John McNally & JP Hilliard, who

between them, have in excess of 40 years’ experience, knowledge

and expertise in the property, development and construction

sectors, both nationally and internationally, WKN has a skilled,

multi-disciplined team covering services across real estate

sectors including valuation, asset management, development and

construction.

Mission

To deliver client focused solutions across all service streams

Values Our relationships are established on communication, trust, respect,

integrity and transparency

Vision

To be the real estate advisor of choice. Delivering demonstrable

value to our clients, managing a profitable and sustainable

business and making a positive contribution to the communities in

which we live and work

John, JP and the wider WKN team look forward to the opportunity

of working with you in understanding your real estate needs and in

devising and implementing structured solutions, bringing value to

you and your project.

John McNallyDirectorMob: 087 739 0460

JP Hilliard DirectorMob: 087 164 1390

Cleaning & Security Solutions for Business

Sample Clients

Valuation • Red Book • All asset types

Associated Services • Part V negotiation and agreement • Compulsory Purchase Orders (CPO)

Development • Optioneering

• Planning & financial feasibility

• Design team selection and management

• All asset types

Associated Services

• Development management

• Project monitoring/ funder services

Construction • Project management

• Employers agent

Associated Services

• Technical due diligence

• Value engineering

Asset Management • Asset stabilisation

• Asset enhancement

• All asset types

Associated Services

• Landlord and tenant

• Portfolio analysis

Services

WKN provides high-quality valuation and related advices throughout Ireland, across all real estate asset types.

Access to accurate and up-to-date market data is a fundamental part of the valuation process and in this regard WKN has strong working relationships with a broad network of property professionals across the country.

WKN prides itself on the efficient valuation completion and turnaround times it provides to its clients, in a consistent manner, right throughout the year.

We provide valuation and professional services to a variety of clients including the pillar banks, alternative lenders, pension funds, legal and accountancy firms, state and corporate bodies and private individuals. As members of the Society of Chartered Surveyors Ireland and the Royal Institute of Chartered Surveyors, we adhere to the RICS Valuation Professional Standards (the “Red Book”).

Services include:• Valuations for: - Secured lending - Accounting and other business purposes - Commercial rates - Legal disputes & mediation - Market & rental value

• General Property Consultancy and Advice

Valuation

VALUATION

DEVELOPMENT

CONSTRUCTION

ASSET MANAGEMENT

Contact John McNally +353 87 739 0460 and Fergus Keogh +353 87 978 1251

At WKN we have the complete range of skills necessary to assist with the

delivery of Part V Agreements. Our unique blend of experience in valuation,

construction and residential development, together with a detailed

understanding of the social housing environment, ensure solutions that

maximise value and flexibility for our clients.

Our services include property valuation, the calculation of build cost and

attributable costs, the negotiation of the Part V Agreement itself and advice

on options and approaches to Part V. With skilled in house professionals in

valuation, construction, planning and housing, we work with clients to tailor a

solution that best meets their needs.

• Development cost review

• Construction cost review

• Planning scheme review

• Client/Local Authority intermediary negotiation

• Management and negotiation of Part V Agreement

Part V - Negotiation & Agreement

WKN has over thirty years’ experience in dealing with the assessment of

owner compensation. We advise our clients from initial negotiations with an

Acquiring Authority before a Compulsory Purchase Order (“CPO”) is made,

to making, negotiating and settling a claim with the Acquiring Authority. We

also have considerable experience in giving evidence at Property Arbitrations.

• Compulsory purchase assessment and representation

• Technical team procurement and management (if applicable)

• Accommodation works negotiation and optimisation

• Acquiring authority and legal team representations

• Scheme optimisation assessment (disturbance reduction & value enhancing)

• Value and infrastructure benefit assessment

• Valuation and compensation assessment, preparation, negotiation and

finalisation of claim

• Expert witness representations (if required)

Compulsory Purchase & Compensation

The development team at WKN advises funders, investors, developers and owners in both the private and public sectors respectfully.

Our team of planning, surveying, financial, valuation, construction, engineering and other technical professionals possess the core disciplines necessary to implement real estate projects from concept through to completion.

Working closely with funders, Local Authorities, design teams and sales & letting agents we are an experienced and trusted advisor, ensuring all opportunities for our clients are identified and effectively optimised, providing our clients with fully integrated, informed and independent development advice.

The teams extensive expertise extends across a wide sectoral reach, including student accommodation, residential (including PRS) , office, mixed use, retail, sports & leisure, data centres, healthcare, industrial, educational and pharma.

Development

Services include:

• Land use management of master planning

• Pre-Acquisition commercial due-diligence

• Pre-Acquisition technical due-diligence

• Feasibility studies and financial appraisals

• Joint ventures – structuring & management

• Development management• Design team selection and

management

• EU procurement advisory• Project organisation review• Employers Agent and Contract

Administration• Planning application management

(including Oral Hearings and SHD route)

• Advice on fast track construction / system build

• Tender bid management• Value engineering• Stakeholder management• Risk management• Fixed charge receivership

Contact JP Hilliard +353 86 251 3851 and John McNally +353 87 739 0460

VALUATION

DEVELOPMENT

CONSTRUCTION

ASSET MANAGEMENT

Risk transparency, control and certainty are at the core of all funder operations.

WKN provides clients with the complete range of skills, experience and

expertise to manage risk through all phases of the funding model.

A unique blend of hands on experience in planning, project financial appraisal,

engineering and construction, backed by a thorough understanding of

the property development process, ensures an independent and impartial

project assessment and monitoring service, reviewing among other variables

- development budgets, project viability and financial appraisal, statutory

compliances, finance/consultancy/construction agreements, construction

cost/methodology/programme, quality, health & safety and cash flow.

Other funder services include:

• Pre-credit initial due-diligence review and reporting

• Facility Agreement review

• Property valuation

We focus on reducing risk exposure and improving the prospects for a

successful project completion for both the funder and promotor alike.

WKN provide Development Management services to all of our existing and

new client base. In WKN, we differentiate Development Management from

Project Management as follows;

• Feasibility Studies

• Development Appraisals

• Joint Venture Advise, Structuring and Management

• Project Monitoring

• Management of the Planning Process

• Building Contracts, Design Team Appointments Advisory

• Legals (AFL’s, Lease Agreements, Contracts, claims, existing tenant issues)

• Insurances Overview

• Design Team Selection, Procurement and Performance Management

• Management of the Contractor Procurement Process

• Stakeholder Management

• Risk and Change Management

• Project Controls

Development Management

Project Monitoring/Funder Services

The Project Management Team at WKN works across all the full project lifecycle, in providing strategic and tactical project management advice to our construction stage clients.

WKN adopt a systems based approach, with PMBOK (Project Management Body of Knowledge) type protocols developed for every stage of a project. We have embraced a RIAI Work Stages approach, when twinned with a PMBOK project management approach facilitates the effective roll-out of our “stage-gate” procedures. Each gate includes a comprehensive review of cost against budget. It is a progressive process that ensures all stakeholders clearly understand the impact of approving funds and resources to the next stage. Any stage gate exceptions must be identified and signed off together with the potential risks indicated and understood.

Construction

Contact JP Hilliard +353 86 251 3851 and John McNally +353 87 739 0460

Services include:

• Project Initiation• Project scope and brief

management• Professional team selection and

appointments• Project execution plans• Procurement strategies• Management of design teams

across all design phases i.e. concept design, scheme design, detailed design, production

information, tender stage, construction, final account and defects liability period, lessons learned

• Project change management• Project risk management• Project controls• Report writing• Contract advisory• Project dashboards

VALUATION

DEVELOPMENT

CONSTRUCTION

ASSET MANAGEMENT

WKN act on behalf of our Clients, in many instances as not only the DM, but

also as the Employers Agent to administer the Building Contract. Our main

duties in relation to the execution of this role, include;

• Administer the Contract

• Issue Instruction to vary, modify or omit Contract works

• Issue and Receive Applications, Consents, Notices or Requests

• Authorise expenditure of Provisional Sums

• Certify payments, and issue Payment Certificates

• Regular site inspections, monitor workmanship

• Issue final PC Certificate

• Record progress of Main Contractor, and assess delays and EOT’s

Contract Administration

Technical Due Dilligence

WKN provide Project Management services to all of our existing and new

Client base. In WKN, we differentiate Project Management from Development

Management as follows;

• Client Brief Development

• Project Structure & Reporting

• Project Scope Management

• Project Integration Management

• Project Execution Plan

• Active Management of multiple Design Teams

• Schedule Management

Project Management

WKN carry out both Pre-acquisition Technical Due Diligence Post-Acquisition

Reviews for Investors and Funders to inform development appraisals and

feasibility studies. WKN manage the collation of information from the vendors,

appoint the Clients Technical Advisors, oversee the drafting of interim

discipline specific reports, and draft the final Report to the Client.

Asset Management

The Asset Management team at WKN directly advises funds, private investors and real estate owners across all real estate asset classes. Together with providing services to financial advisors and accountancy firms, as part of wider professional advisor groupings.

Our team of surveying, financial, valuation, planning, construction, engineering and other technical professionals possess the core disciplines necessary to assume overall responsibility and implement and deliver upon real estate asset management strategies, whatever the scale or complexity level involved. Providing strategic and operational management of assets throughout their life cycle, from acquisition, to management to eventual

disposal.

Services include:• Preparation of asset level business plans• Implementation of asset level business plans• Capital transactions (acquisitions / disposals)• Budgetary preparation and management• Selection, appointment and management of professional service providers, • including Property Managers• Building supervision• Tenant supervision• Capital project management (refurbishment, extension and development)• Letting strategy and management• Valuations• Compliance• Reporting

Contact John McNally +353 87 739 0460 and JP Hilliard +353 86 251 3851

VALUATION

DEVELOPMENT

CONSTRUCTION

ASSET MANAGEMENT

WKN acts on behalf of both owners and occupiers and has the extensive

experience and knowledge required to advise clients on all aspects of landlord

and tenant issues. We have advised on lease negotiations, rent reviews,

lease expiries and renewals, dilapidation claims, repairing obligations and

improvement works.

• Lease negotiations

• Dilapidations - negotiation and management

• Improvement notices- works, negotiation and management

• Rent review negotiations, expert/arbitration submissions

• Break option management

• Mediation, Conciliation and Arbitration

• Dispute resolution

• Lease restructuring/regearing

• Market research, analytics and bespoke report publication

Landlord & Tenant

As well as single assets, WKN are experienced in providing asset management

services across a wider portfolio of real estate assets, ensuring the operational

output of same is aligned to the core operational business plan.

Services can be deployed at various stages, including:

• Pre-acquisition technical and commercial due diligence

• Post-acquisition on-boarding

• Ongoing life cycle asset management

• Disposal

WKN have the necessary systems and resources in place to ensure in the first

instance, what the best investment path is, and secondly how to maintain

this path going forward.

Portfolio Analysis

Sample Projects

General Overview:

• 7 acre site

• Phase 1 - 38 houses of which 10 were

unsold / partially complete

• Phase 2 – FPP for 63 Houses

• To provide Market Value “as is”

• To advise on a sustainable site fine going

forward

Conclusion:

• Taking the sale price of each house and

the cost of getting there – “what could

developer afford to pay back per house

sale”

• Sensitivity – if sale price went up…. so too

did site fine.

7 Acre Site, Kildare, Co. Kildare

General Overview:

• 15 acre site with FPP for 129 houses

• Access needed via third party lands for

connection to services

• Valuations required with and without

benefit of 3rd party lands

• Price differential - would it justify

acquisition of 3rd party lands?

• Risk spectrum assessment

Conclusion:

• Price differential was substantial – funder

advanced money for acquisition

• WKN instructed to sell the Land following

acquisition

• Sold in excess of valuation figure

15 Acre Site, Rush, Co. Dublin

Valuation

General Overview:

• Client: Roundhill Capital / IRE Real Estate

Investment Partners

• WKN Role: Development Manager &

Employers Agent

• 249 (min) bed new purpose build student

accommodation

• €22m

General Overview:

• Client: Roundhill Capital & QR RHC

Investment Partners ICAV

• 220 units (private rented sector) new build

development

• WKN Role: Development Manager &

Project Monitor

• €86m

Washington Street, CorkPurpose Build Student Accommodation

Bridgefield, Santry

General Overview:

• Client: Roundhill Capital / IRE Real Estate

Investment Partners

• WKN Role: Development Manager &

Employers Agent

• 146 bed new purpose build student

accommodation

• €13m

Farranlea Rd, CorkPurpose Build Student Accommodation

Development

Roundhill Capital Portfolio

• Client: Guinness Enterprise Centre, founded by Diageo, DCC, Enterprise Ireland, Dublin BIC• €10m extension and refurbishment project, in a live environment.• By adding extra floors, once completed, the GEC will become home to 160

start-ups with 750 employees boosting the economy and creating long term employment.

WKN has been appointed to provide full lifecycle project management services to our Client.

WKN manage the Clients expectations, through close collaboration with the eternal QS, and through the management of the single point design team, led by Reddy Architecture.

WKN achieve project management success, where we foster and engender a project ethos of collaboration with the entire full project team, including the Client and the contractor.

WKN will strive to become GEC’s Trusted Advisor by building a lasting relationship with GEC; we will be honest, open, transparent, available, have a fresh perspective, give options, give reasoning, tell the truth, challenge assumptions, be honourable, be humble and diffuse awkward situations. WKN’s list of repeat Clients, twinned with our client testimonials, stand for

themselves in terms of what WKN offer to the marketplace.

Guinness Enterprise Centre Extension and Refurbishment Project

Construction

‘JP played a critical and major

role in the successful delivery of

this project, a complex city centre

redevelopment of a 1970’s office

building. The new building achieved

LEED Platinum accreditation and was

designed to achieve low life cycle

maintenance costs.

JP’s professionalism, attention to

detail and pro-active approach to

addressing the many challenges that

the project presented, contributed

very positively to delivering this

project. His attitude and personal

skillset is rare in the market.’

Sean Boyle – Head of Real Estate

and Workplace EMEA region at

Twitter

Project: Carroll Portfolio

Client: David Carson Receiver Deloitte & NAMA

Duration: March 2013-2018

WKN Role: Asset Management of real estate assets across the receivership

portfolio, comprising - 1,000 plus residential units, 500,000 sq. ft. offices,

350,000 sq. ft. retail, hotel accommodation, car parking, and 50 acres

prime development land

Main Duties:

• Development Manager across various completion & remediation works

projects (capital projects)

• Portfolio Analysis

• Preparation of strategy reports

• Implementation of strategies

• Budgetary preparation and management

• Appointment and management of professional teams

• Statutory compliance matters

• Transaction & exit management (capital transactions)

• Client reporting

Carroll Portfolio

Asset Management

WKN Real Estate Advisors, Marine House, Clanwilliam Place, Dublin D02 FY24, Ireland. PSRA 003341

T +353 (0) 1 905 8350 E [email protected] W www.wkn.ieValuation | Development | Construction | Asset Management