Joint Venture
“A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity “
Why?
Do you own land with development potential but feel unable to realize it due to:
- Lack of skills and expertise?
- Insufficient funds for consultants, councils, and other expenses?
- Limited time to manage the process?
- Changes in your circumstances making the property less suitable for you?
Instead of selling, consider working with us! By partnering with Truvelop Property, you provide the land while we bring the resources and expertise needed to unlock its development potential. Together, we can transform your property into something extraordinary, ensuring that you benefit from its true value. Let’s collaborate to make your vision a reality!
Keys Aspects of a Joint Venture include:
- A legal and transparent JV agreement drafted by property lawyers
- Land owner retains ownership through out the process
- Land is transferred to buyer once developed
- Each land owners circumstances are unique, so no JV is the same. We design each JV to suit your individual needs.
- The Advantages of a Joint Venture with us:
- Stay in the neighbourhood you know and love
- Access to an experienced team of development consultants
- No additional financial outlay by you to fund construction
- Rental assistance provided during the build
- No additional stamp duty, real estate sales commissions, builders margins or relocation costs
- A brand new energy efficient home with less maintenance and upkeep, one that suits your needs well into the future
- Truvelop Property funds and manages the entire pre-development & development process
joint venture faq's
Who funds the construction?
The developer will put forward the required cash equity to fund the development application and construction. Security on the property will be required to protect the developer’s investment.
What happens if the developer goes under?
If this occurs during the development application,
- DA has been lodged and approved, the land owner may carry on with the development themselves or sell the property with an approved DA at a premium.
If this occurs during construction,
- No risk to the joint venture partner
- The project would be funded to see it through to the end
- The joint venture partner can hire a project manager to see the project to completion
Who is liable for GST?
GST is typically paid by the development project on the finished product.
Can I personalise the design of the new home?
Yes. If it does not require an amended development application (e.g. solar panels, electric car charger, in built fridge/freezer). Costs for the additional items will be deducted from any final cash payment.
What if our new home increases in value on completion?
You benefit from the uplift in value.
What if our new home declines in value on completion?
There are risks associated with undertaking property development projects and, the materialisation of these risks could delay and/or reduce expected returns on that project. We mitigate this risk by evaluating and completing a detailed feasibility. It is recommend you seek professional advice on how this might impact your individual circumstances.
