8 Steps To Success In Property Development: Securing The Deal
In today's episode, Jonathan and Kieron discuss the crucial fourth step in property development: securing the deal. They cover making offers, structuring professional offer packs, and effective negotiation strategies with vendors. Their conversation explores legal considerations, vendor finance, heads of terms, and overage agreements, while stressing the importance of market research, due diligence, and clear communication.
KEY TAKEAWAYS
Rather than submitting a simple email or phone call offer, Jonathan and Kieron recommend creating a comprehensive offer pack. This approach not only demonstrates professionalism but also builds credibility with both vendors and agents.
When making an offer, it’s beneficial to present two or three different structures, such as a straightforward cash purchase, a delayed payment using vendor finance, or a joint venture.
The credibility of your development team is crucial. Jonathan and Kieron stress the importance of assembling a team whose experience matches the scale and type of your project, and including their CVs in your offer pack.
Negotiation is an ongoing process. Even with a well-prepared offer, negotiations are expected. Being open to revising your offer if new information arises during legal due diligence, and not being afraid to walk away if the deal doesn’t stack up, is crucial.
BEST MOMENTS
"I'm very open with our numbers as to how we've worked it out. So if my GDV is wrong, tell me why I'm wrong. If the build costs are wrong, tell me how I'm wrong."
"You've done your homework, you've done your due diligence, you've put everything together, you've put the time into presenting it well, and there's a chance, even with all this presented, wrapped with a bow on it, you're still going to offend the vendor."
"You win some, you lose many. But that's part of it, isn't it? Put your best foot forward and hope for the best."
"The more you do this, you have that sort of risk calculator in your head, and you learn where you're comfortable and how much risk you're willing to take."
"Solicitors are solicitors, unless you've got a very efficient solicitor like the one that we use. She's very prompt, very quick. They always need chasing, need follow-ups, and they always need information."
HOST BIOS
Jonathan is a property developer and entrepreneur with a background in finance and construction. Originally from South Africa, he holds degrees in Accounting and Auditing and relocated to England in 2003. He gained financial and operational experience at firms such as RSM, Prudential, and Baker Tilly before transitioning into property. Since 2014, Jonathan has managed major commercial-to-residential conversions and new build developments, particularly across the South West. His analytical mindset and on-the-ground experience help listeners navigate the property world with confidence.
Kieron is a construction expert and entrepreneur with over 20 years of industry experience. Starting as a mason, he went on to found Shepherd Construction in 2012, delivering projects across both the public and private sectors. From extensions to luxury new builds, Kieron has earned a reputation for quality, precision, and strong leadership. As Managing Director, he’s involved in every stage—from design to delivery—offering a no-nonsense, deeply practical perspective to anyone looking to build with success.
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UK