Pre-contract Studies: Development Economics, Tendering and Estimating
provides a comprehensive introduction to the property development process, with an
emphasis on the financial analysis of projects in the context of development values and
construction costs.
The book covers capital investment, funding sources, the economics of
development, evaluation of financial data, whole life costing and tendering, estimating
and cash flow considerations. The process of getting a project from inception to
completion is examined in detail, while the different methods of development appraisal,
and the way developers' budgets are calculated, are explored with worked examples.
The third edition has been extensively revised to reinforce aspects of
valuations and more information has been added on the major property companies and who
owns the land in Britain, as well as on conservation, PFI and value management. A large
number of charts and graphs are new.
The book is used on a wide range of undergraduate programmes in building, surveying and
associated disciplines.
Allan Ashworth D. Univ (Hon), MSc, MRICS is a Visiting Professor at the University
of Salford and the Adjunct Professor in Quantity Surveying at Unitec in New Zealand. He is
a former HMI (Her Majesty’s Inspector) in the Department for Education and Employment
and is currently the Senior Academic Advisor to the Centre for Education in the Built
Environment based at the universities of Cardiff and Salford.
Table of Contents
1 The development process 1
2 Property investment economics 32
3 Capital investment 65
4 Evaluation of financial data 86
5 Development appraisal 114
6 Urban land economics 151
7 Property development economics 188
8 Sources of finance 218
9 Project construction costs 250
10 Budgeting, costing and cash flows 266
11 Procurement 293
12 Estimating and tendering 314
13 Developments and trends 333
Bibliography 354
Index 359
376 pages, Paperback