This is a suite of agreements with consultants that ultimately culminate in the award of a resource consent and/or building consent with associated approvals. Vanilla in some ways — a function of process and time — this crystallises what you are going to build. Emphasis should focus on the somewhat discretionary aspects of the resource consent: whether it might get notified and what the decision maker needs to consider.
The resource consent controls what you can do with the property and is a determining factor in the outcome of the development. An additional unit on a site may be the difference between a project being a profitable venture or not, and conditions imposed can make a project prohibitive.
Furthermore, the cost of time needs to be considered. Paying interest on a piece of land adds up over a 6–12 month timeframe, which is typically how long consents take from start to finish.
Stacking the process and running design, resource consent, and building consent concurrently can help, but you take on additional risk of redesign should one hit a stumbling block that requires changes.
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Andrew Newlands Quantity Surveyor, Omni Development Partners |
| ← Part 1 – The Sale and Purchase Agreement for Acquisition of Land | Part 3 – The Pre-sale or Pre-lease Contracts → |
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