ABSTRACT
This chapter discusses the initiation and purchase acquisition stages of the land or strata required in order to commence the property development process. It discusses the role of landowners and stakeholders in the process. The first initial step prior to identifying a development site is to confirm the developer’s search parameters by defining the aims, nature and relevant geographical area of search. The developer should identify and examine factors influencing occupiers in their choice of location as part of market research. Different factors affecting decisions about the choice of location for each type of land use are: residential development, office development, retail, and industrial. A developer may employ a planning consultant to conduct a strategic study of a particular geographical area to identify suitable land within the planning context. A different approach is possible when a developer enlists the services of a real estate agent or approaches a number of real estate agents to identify prospective sites in particular location.
