Our initial assignment was to performed a model review, including assessing any structural changes required for the Airport City JV Financial Model. The model is used to assess the development as a whole and the profitability of each plot on an ongoing basis. The model was initially developed by an external firm and contained certain complexities which required simplification in order to make the model more user friendly. The model also required additional functionality to reflect the proposed financial structure of the deal and assist the JV in assessing the plots on their individual merits and complexities.
In addition to the above, we were asked to build an overage model to calculate the level of overage per plot to be paid to Manchester City Council. The model has been through a model audit and will now be used as a tool to calculate the overage for a specific plot as and when it is sold.
On an ongoing basis we provide support to the property team in relation to the ongoing update of the JV model and structural changes to the model that reflect the ever changing deal structure and plot layout.