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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
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