An assessment of whether a proposed development is viable in market, technical, and financial terms.
Related terms
- Floor area ratio (FAR)
The ratio of a building total floor area to the size of its plot; a key planning control.
- Gross floor area (GFA)
The total built floor area of a building measured to the outside of external walls.
- Hard costs
The direct construction costs of a development - materials and labour.
- Masterplan
A long-term spatial framework guiding the layout and phasing of a large development.
- Net leasable area (NLA)
The floor area that can actually be leased to tenants, excluding common areas.
- Off-plan
Selling units before or during construction, financing the build from buyer deposits.
- Phasing
Sequencing a development into stages to match delivery with absorption and manage risk.
- Practical completion
The stage at which a building is finished enough to be occupied for its intended use.