Welcome to our new blog via www.inspiredsolutiongroup.com
We are thrilled to announce the re-branding of our website and have put together an over view of what we will be bringing you, with the addition of our blog as well as some superb solutions for online interior design, decorating schemes and gift cards for those that have everything! So we could produce a plan for re-designing and decorating a single room or fully re-design and decorate a house. Bespoke options are also available.
We will be bringing you some fabulously informative property related products and specialist services that are designed to cater for renovation, restoration, property development and interior design projects. Our team of property specialists and London interior designers create magnificent spaces and project manage building and residential projects.
Here is a little background.
Inspired Solutions Group is a London based design and building project management consultancy specialising in mid to high-end property both commercial and residential.
With over two decades in residential and building expertise we cover interior design, complex renovation and restoration projects to name a few. We work and collaborate with UK and International clients, other design and build specialists, investors, self builders, architects, developers, builders and construction companies, homeowners, art directors, hoteliers, and super yacht owners. Our keen eye for detail and specification brings a unique insight to what can be achieved. So, whether you're looking for a large London home or country home to be re-designed and renovated, a show home or development to be fully interior designed and furnished or you just need some sound guidance and advice for your forthcoming building project, we are here to help you pull all aspects of the project together.
BESPOKE VIP CONSULTANCY & MASTERCLASSES
We have a range of Bespoke VIP consultancy options along with training and workshops for those wishing to learn more about the industry, such as how to interior design or how to successfully renovate for profit. It may be that you are in the entertainment industry, a sports personality, premiere football player, or an artist within the music industry or a music mogul and are now looking to gain knowledge about how to begin renovating, developing or investing in the property sector, or simply needing expert solutions to renovating your new home or designing and building a home.
Our aim is to bring you lots of top tips and advice about the industry that can be accessed freely via this blog.
A FEW TOP TIPS
Here are a few top tips to consider if you are about to undertake a commercial or residential joint venture project, a home renovation, a self-build or for interior design and project management solutions.
We will just briefly touch on a few points as a taster and follow up with some more in-depth posts that we hope you will enjoy and that will be of help to you. It will be all common sense stuff and easy to follow.
We have a range of effective project management solutions if you are looking into renovation, restoration, developing or investing in property, and of course for those joint venture partners that are actively developing change of use properties. We can help you to design exceptional schemes and help to eliminate many of the design issues with a common sense approach. We are more than familiar with mid to high end and luxury building projects so we combine and utilise these skills in an intelligent, cost effective and time efficient manner to suit our clients.
5 TOP TIPS HOW TO PREPARE A JOINT VENTURE PROJECT COMMERCIAL OR RESIDENTIAL PROPERTY
1. YOU NEED A SOLICITOR THAT SPECIALISES WITHIN THE PROPERTY SECTOR & THAT IS AN EXPERT IN JOINT VENTURE CONTRACTS
Don’t muck about, employ the services of a specialist property solicitor as well as a conveyancer and have them draw up a relevant JV contract. Check they have carried out a few projects similar or far more complex that the project that you are about to undertake. This will give you confidence that they can easily take care of you and your requirements. It will also mean that as you develop or joint venture on more properties they will be a firm that you can grow with, rather than chopping and changing solicitors project by project.
Have your solicitor explain all the aspects of the contract that you are not sure or familiar with. They are the experts, so listen, take notes and re-ask any questions if things aren't clear to you.
NEW TO DEVELOPING?
If you are relatively new to developing or renovating and don’t have a solicitor in place that has already looked after several projects for you, then the ideal situation is to build a strong and long term relationship with a specialist solicitor, as then when you are sourcing and progressing with new projects they will be at hand to advise you and guide you in the correct manner, with the ability to act quickly to avoid you losing opportunities and to make sure that you are covering all necessary aspects. Never commence a project prior to appointing your solicitor. NEVER! They are a fundamental part of your expert team.
2. GET YOUR ACCOUNTANT IN PLACE
If you don’t already employ the services of an accountant that specialises in property then you best get cracking and find a great recommendation from your project manager, architect, or someone that you know well and trust that is already developing property.
Set up a meeting with the accountant to explain exactly what you are intending to achieve short to medium term, so that they can advise you of all your legal requirements. This will be invaluable as they will be able to advise and guide through your responsibilities, while having a good understanding of what you are intending to achieve from your development prior to commencing the project. All pre-planning really pays off, so the more organised you are early on, the less you'll have to battle with through the project.
3. WHY DO YOU NEED A JOINT VENTURE CONTRACT/AGREEMENT?
Every Joint Venture Contract will be different as every partnership is likely to be different, therefore it is essential to have your solicitor/lawyer either draft one for you and your partners, or have your solicitor go over the contact that has been produced by another partner and make sure that all your interests are covered. Remember that a specialist in this field will have produced numerous jv contracts, so they can make the job very easy for you in the sense of adding and removing what is and what is not essential to your contract, flagging up areas you will not have considered and to make sure you are protecting yourself.
Your solicitor/lawyer and accountant will advise you of whether you need to set up a Limited Liability Partnership, a Limited Liability Company or a Partnership. It could be a very simple such as a JV partnership of just two parties, or it could be a small or large group of investors coming together to purchase and develop land or property. In addition it could be a JV group purchasing a property that creates a good monthly rent income, however without being in a joint venture group they wouldn't be able to afford to purchase the development and carry out all the works on their own, or perhaps they simply just want to spread the risk.
There are so many variations that it is essential to have all parties agree and to be clear and happy on every aspect prior to signing the agreement. This then helps greatly to eliminates misunderstandings so that you have a clear and professional plan in order to move the project forward.
Within your contract set an agreement, so that if the company needs to be broken up or one shareholder wants to leave but the others do not, then you already have the solution written in and agreed. For most serious investors this is not an issue, however it is always wise to have an agreed solution to give you piece of mind.
What happens if there’s a Deadlock! You need to prepare an agreement (within the jv contract) of what the company/JV partnership will do if there is a deadlock between shareholders, so that you are all agree on a system that is set up and in place, so that your project cannot be jeopardised by an individual shareholder.
Don’t forget to Protect your rights as an individual stakeholder
Be sure to protect your financial stake in the partnership.
4. WHAT A GOOD PROJECT MANGER BRINGS TO THE TABLE!
Unless you are an intermediate or advanced JV investor/partner or developer, then get the help of a Project Co-ordinator, Project Manager or Property Expert that can assist or look after and run the entire project. They will be able to help you consider how to best develop the site or renovate the existing building. Even if you are an intermediate or seasoned developer, you can still gain new ideas and solutions by using the services of a Project Manger, Interior Designer and Property Expert. This can broaden scope, improve solutions and bring a greater range of end results for your project.
Space, light, design, logistics and finishes are so important and will take your project to the next level. You want to put yourself in the strongest position to successed and generally speaking a experienced Project Manager or Interior Designer will relieve many of the daily issues by having an array of solutions to hand which will help you keep your project on time and within budget. You can get so much more from the project than you probably expect, if you can drill down on specification and budget early on, this is quite often where a really good Project Manger comes into play.
Our advice would be to select someone that is a skilled communicator, avoids drama, tells you as it is, has an experienced team to call or is used to putting expert teams together and has interior design and specification skills, along with serious skills in time management and running a budget. This sounds like a heck of a lot, and it is, but if you get the right PM/Design specialist then you could be eliminating 75% of your daily problems, as it’s not easy and they have the key to reaching out to every trade, contractor and specialist that your project is likely to require.
5. GET AN UNDERSTANDING
Whoever you are employing the services of it is important to arrange to meet them early on, so that you know they have a great understanding of your vision, what and when you are looking to start the project and how they are able to reduce your stress levels and improve upon the overall design and build. Remember that if you are struggling from a creative point of view then a great Project Manger/Interior Designer can also create the vision for you.
Employing a dream team is what it’s all about and once you have that team (that are a spectacularly effective group of individual specialists), you are then set up to repeat the process for more projects.
Allow your project manager/specialist and main contractor to run the project and you could also save yourself not just time but money.
We look after residential and commercial projects for UK and overseas clients that need support and guidance with their new build, home, office or property investment. From feasibility, design and build, interior, furnishing, bespoke joinery and storage, entire project management and contractor appointing. A bespoke service is put together for every single project, that is unique to that individual client, so you need to consider all these factors when carrying out your property development.
HOW TO PROJECT MANAGE 5 TOP TIPS
for your first renovation or development
1. PROJECT MANAGING YOUR FIRST RENOVATION?
If you have not carried out several projects then we recommend that you employ the services of a Project Manager and or consultant at the very least. This will undoubtedly save you time, money, stress and many miss-haps along the way as they are able to minimise problems. Renovating a property is not for the faint hearted, no matter how prepared you are there will still be daily challenges. So get prepare by having superb support.
The best support will teach you the most, however, if you want nothing at all to do with the project then with a great Project Manager and team, they will look after all aspects for you, while giving you regular updates and making sure all is run like clockwork.
The ability to make informed decisions, quickly and on a daily (moment by moment) basis will be the key to driving your project forward and completing your project successfully, this is why (more that often) it is best to bring in the professionals, they are used to making these decisions on a daily basis and are not emotional about the process.
2. APPOINTING AN ARCHITECT FOR YOUR PROJECT
If you haven’t already employed the services of an architect or if you are not used to working with an architect that you have a good longstanding relationship with, then it is definitely worth speaking to your Project Manager or Main contractor, in order to recommend and appoint an architect that will be best suited to the type of building you are looking to renovate or develop.
It is pointless getting an architect that specialised in large commercial projects if you are looking to design your new build home and equally it would be pointless to get an residential architect that specialise in mid to high end homes to look after the design and planning of a luxury tower block or Town regeneration scheme.
When working with clients we tend to deliver the overall design in conjunction with our architects, however, this is by no means a hard and fast rule. We tend to find that by creating the design overview prior to appointing or alongside the architect, it works in favour of our client, investor or developer, to visualise and design the space that the architect can then expand upon if required. It supplies the architect with up to 80% of the design elements, finishing’s and specifications that bring together a design scheme in a timely manner, while supplying the architect with maximum design information of the clients requirements.
This then helps to speed up the process of completing the final drawings, so that we can instruct the structural engineer to do the calculations prior to drawings being passed by the local planning office.
Being prepared for the costs of structural elements is essential and so much of a buildings cost can be allocated to structural elements. Remember, without full and final architects drawings with all structural engineers calculations it is impossible to finalise a budget and therefore the cost of the renovation or build.
3. WHY IS FEASIBILITY, DESIGN & PLANNING SO IMPORTANT?
Really, really, important!
Feasibility, Design and Planning is key. Rather than jumping straight in, there is actually a very complex process. Here are a few areas you’ll need to be aware of.
Note: Just a few points!
What do you want to achieve and why?
Are you creating additional space?
Are you re-designing the interior of a property or completely renovating or restoring an Apartment a City Penthouse, Town House, a Mansion Block or an Office Block?
Will you need a building notice or full planning permission?
Do you need a party wall agreement?
How do you tackle the planning department so that you have the maximum chance of gaining the planning permission you require?
Who will make up the team?
What specialists and contractors do you need?
How do you appoint the correct contractors and how far in advance do they need to be booked?
What is a realistic start date and time of year to minimise building problem?
How much will the project cost, ballpark figure and actual with a contingency figure factored in?
How long will the project really take?
The list is endless, all these aspects need to be tailored to your project, along with a budget so that before you have gained planning you already have an overview of all aspects of the design, build, consultancy, furnishing and budget.
Far too often we have new clients contacting us way too late in the game, often after having had their planning rejected no just once but several times. This never fails to amaze us. This is disheartening, frustrating and a huge waste of money. However this doesn’t have to be the case.
4. HAVE YOU PROJECT MANAGED A RENOVATION OR BUILDING PROJECT BEFORE?
If you don’t already hold the skills for preparing a renovation project, in other words if you haven’t completed a few projects and learnt loads on the journey then you can get assistance from a project manager or consultant to take care of all of this for you. This will mean that your project can be tailored to cover all aspects of feasibility, design, layout, exterior finishes that will give you a fighting chance of gaining the planning permission you are hoping for.
Your project manager and architect should be able to advise you on what is more likely to be passed or rejected within your local area and what you might really struggle to get passed. They can also give you some super alternatives and are there to help improve upon your initial ideas. It can be really rewarding working with a great team, as you get to learn so much more, or you can just hand the entire project to them if you really don't have the time, inclination or skill set to undertake the project.
5. YOUR BUDGET CAN MAKE OR BREAK YOU!
Having a key person/team responsible for looking after your project budget can be the key to its success.
If you are managing the renovation yourself then be prepared to be on top of this at all times. You don’t want to be caught out because you thought you were on top of it yet you hadn’t considered the main contractors adjustments to time and costs due to additions you may have requested during the build, or for any bespoke items you require, not to mention areas that may throw up challenges that couldn’t possibly have been forecast prior to the project commencing!
If you are employing a project manager then they will look after this with an iron fist, not be phase by the daily challenges and remove the emotion from the process, with the ability to make precise and well thoughout decisions to drive your project forward.
The rule is to be INCREDIBLY organised, have the majority of pricing prior to commencing your project and never start a project without having a contingency budget. NEVER!