Services
In the current tight market and property downturn, Pitman Properties is busier than ever undertaking a range of property developments. This is due to their success from skill and experience in choosing the right sites, price points and above expectation value for money product producing high demand developments that can withstand varying market conditions.
Pitman Properties key services for their projects include:
- Site and market evaluation leading to the acquition of sites
- Project design to produce approved development sites and Certification to allow building
- Investment structures including superannuation evaluation for investors
- Project management
- Building and Construction
- Project sales and marketing
Investment structures
Pitman Properties investor strategy is as follows (for people investing in projects):
- Investors provide the seed capital as required by the bank lending policies. The rest of monies required are loaned to the project by the bank. Guaranteeing of the loan varies depending on the situation.
- Pitman Properties provide the services outlined above to make the job happen from land purchase to money in the bank after all units are sold. Pitman Properties build the project either on a do and charge basis with allowances for Overhead and margin or quote to build the job based on historical fair building costs. Costings usually are significantly less than Quantity surveyors estimations.
- Land is purchased and the project is run through a company to act as a trustee for a new Unit Trust formed for each project. Units in the trust are allocated to stakeholders proportional to their contribution and profits distributed according to agreed schedules.
- A bank account is opened in the name of the trust and all monies go through that account with all monies properly accounted for by having control of the trust been shared equally between the investors and Pitman with both parties required to sign off on payments.
- Details on how to incorporate superannuation investment is clearly understood and the unit trust and company structure will reflect the requirements of audited superannuation funds.
More information on specific investments will be made available on request.
Marketing and sales
Pitman Properties work closely with real estate agents providing market support with specially designed web sites for each development with on site perimeter banners promoting the site and referring back to the web site. All marketing links back to the approved agents. Agents do their own promotion through the media using the web page as a backup for essential information and promotion.