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Savills

Savills Valuations

Savills Australia is part of Savills PLC which is one of the largest global property services companies, encompassing all facets of the property industry.  Savills has over 700 offices worldwide, employing more than 30,000 people in over 60 countries.

The Savills Valuations team conducted an extensive review of EstateMaster’s latest version as well as that of their primary competitor.  After a thorough review and opportunity to discuss the requirements ‘face to face’ with EstateMaster’s key team members, Savills concluded EstateMaster provided the best solution for a number of reasons including:

  • EstateMaster’s reputation and recognition within the property development industry and with key clients of Savills;
  • Ease of use, functionality and flexibility; 
  • Robust performance capabilities;
  • Willingness of EstateMaster’s key operators to fully appreciate Savills requirements, resulting in a timely and comprehensive solution.

James Lister, Director of Valuations & Advisory for Savills Queensland says "EstateMaster’s Development Feasibility is an industry leading platform recognised for improving and streamlining analytical possibilities. Savills can easily input and capture critical information which enables our operators to provide quality and timely advice to clients."

"Furthermore, EstateMaster is proactive with ‘after sale’ service, ensuring any issues are quickly dealt with, and offer free online training and education as well as customised guidelines/manuals for distribution. The customised EstateMaster empowers users, simplifies what could otherwise be a timely undertaking and allows for efficient reporting that is key to providing a competitive advantage.  After a successful testing period, the software has been implemented in QLD, with the remaining states due for roll out by Q4 2016."

Colonial First State Property

Stephen Philp, Head of Capital Transactions at Colonial First State Property has been using EstateMaster for the last four years. With over AUD$15 billion of combined funds and assets under management, Colonial First State Property is one of Australasia's leading property fund managers. Mr Philp is a current user of the EstateMaster DF and EstateMaster DM models for property development feasibility and development management. He believes the popularity of EstateMaster within the property industry is because it is so easy to use.

"I think that is one of the key factors to why the market has adapted to it so readily. The people that we deal with understand it. It takes into account the more complicated things that have come into the development industry like GST and stamp duty, other equity and hybrid type debt structures."

CFSP have multiple development funds, and he says it is essential that a close eye is kept on the financial aspects of all their development projects. "Effectively it's a reliable instrument to analyse and manage our projects."

He says that model also acts as a base between two organisations that are trying to deal with each other and the product has credibility in the marketplace. "If our client uses the same calculation model it has a distinct advantage over starting from scratch every time because there's always the possibility of human error in calculations. I can transfer files across to another party for them to review and vice versa. It provides streamlining between various groups that use the EstateMaster software."

Colliers International

Colliers International is one of the leading commercial real estate organizations in the world with offices in almost 250 cities worldwide. They are also long-time users of the EstateMaster DF property development feasibility module.

Colliers' National Director of Consultancy and Valuations, Will Doherty, said the flexibility and functionality of the product had allowed for consistency in client reporting and accuracy within all braches of the organisation. Mr Doherty said that before EstateMaster was implemented, people at individual offices were using their own personally constructed models in Excel.

"The difficulty was the lack of consistency for client reporting and accuracy. It has allowed us to ensure everyone is doing everything the same way. We've taken it to that next step by establishing business rules when using EstateMaster. This is to make sure our staff at each office are consistent with how they use the model and that works efficiently."

Mr Doherty said the product had become the standard tool when it comes to development focus and valuation consultancy on specific projects at Colliers.

Senior Valuer at Colliers, James Bellew agreed, noting that the widespread use of the software allowed for a greater efficiency across the board, and offered kudos when it came to the training and upkeep of the program. Mr Bellew, who utilises the tool every day, said that while he had received training on its use, "just using it" was enough to get a grasp on its many functions.

He added that the service from EstateMaster "has been great". "But I haven't had that much use for it, which is not bad considering how much it's used."

Landcom

Landcom is a master planner of living communities that has been developing residential, commercial and industrial properties for almost 30 years in New South Wales. In that time, Landcom has produced over 60,000 lots and dwellings, and focuses on setting new standards in social, environmental and economic sustainability.

It's with such a full agenda that the Parramatta-based organisation looks to EstateMaster DF when it comes to thinking outside the square. Landcom's Matthew White said he found the module to be particularly effective when considering different options to developing a site.

"I find it a useful program when we're looking to model projects that are outside a standard development," he said. "It's most useful to me at the early stage of these projects when we're actually looking to buy or model-up different development scenarios. It has a very good sensitivity analysis which gives you some good risk analysis."

Colleague Peter Michie agreed with Mr White, saying the DF tool employed a great flexibility when it came to their specialised modelling work. "There's the spreadsheets that you can insert into your own spreadsheets, and between the two, you can get quite a good outcome from it. "For what we do, it's a pretty good package."

Matthew Beggs echoed the comments made by his workmates, saying that it was his personal belief that EstateMaster was "by far the best" for feasibility and as a business tool.

Dennis Family Corporation

Founded on the traditional values of a family, the Dennis Family Corporation has inspired and served communities for many years. One of Australia's most successful property developers and project homebuilders, the Dennis Family Corporation caters to the first and second homebuyer markets as well as the prestige project home market.

With the introduction of community projects to the Corporation's portfolio, including retirement villages, childcare centres and shopping centres, the company has secured its position at the forefront of the property development industry. Kerry Goodbrand is responsible for commercial developments and was introduced to the EstateMaster DF property development feasibility model through a colleague and has been using the model for the past two years.

"Our National Acquisitions Manager, Chris Plant, used it elsewhere and he said it was the best package in town." Mr Goodbrand says while the product is similar to the modelling he did previously, the main difference is that the in-house developed system did not have the appropriate security levels in place. "EstateMaster has what we were looking for and it also has the integrity that we need. Because Chris was happy with it, we assessed it thoroughly and adopted it as our company approach to doing things so we had consistency across the board."

Mr Goodbrand says that while the fundamental approach to undertaking a feasibility study is the same, EstateMaster has fine-tuned some of the options.

"Now we have consistency. We all are thinking the same. By using  EstateMaster as a pro forma we all know what to look for and where to look for it. It makes life a lot easier."

"Previously we'd use a spreadsheet and everybody would modify that slightly to incorporate their own ideas. Every time you used it, it had to be built again from scratch. Being able to insert notes inside the cells has been tremendously helpful."

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