Developer An entrepreneur who has an interest in a property, initiates its development and ensures, that this is carried out ( for occupation, investment or dealing) and from the outset accepts the responsibility for providing or procures the requisite funds needed to finance the whole project.
Development control The powers of a local planning authority to control the development and use of land, which includes inter alia:-
a) the refusal or grant (with or without conditions)of planning permission.
b) the issue of enforcement notices.
c) the making of revocation, modification or discontinuance orders.
d) the grant or refusal of listed building consents.
e) the designations of conversion areas.
Development yield In a valuation to ascertain a ground rent, the rate at which costs are decapitalised to find the annual deduction from the occupation rents. It comprises:
a) an investment yield
b) an annual allowance for developers risk and profit and, in some instances
c) an annual sinking fund element
Discounted cash flow analysis Techniques used in investment and development appraisal whereby future inflows and outflows of cash associated with a particular project are expressed in present-day terms by discounting. The most widely used forms of DCF are the internal rates of return (IRR) and net present value (NPV). The techniques may be used for such purposes as the valuation of land and investment, the ranking of projects or their components.
