Seek Property Group provides the conduit for the introduction of joint venture business arrangements in which two parties agree to pull their resources for the purpose of maximising the development potential of a particular property. Typically these arrangements are suitable for clients with a property which has development potential/upside, however the client is seeking the participation of a partner with development and construction capabilities. The benefits of a joint venture agreement between the two parties are:
- Maximise development potential of the property
- The client/land owner could potentially access equity from its land holding (i.e. sell down 50% of the land value)
- Partnering with a group with development and construction expertise
- Common goal to maximise the development profit of the property and/or the retention of development improvements (i.e. retail shops/apartments)
- Minimise Land Tax obligations through the maximisation of the development/investment income relative to the property’s site vale and land tax obligation(s).