BOOM!, THE development marketplace has enhanced its development opportunity registration process to include greater site detail, data room improvements and control around the offer process. The platform has also implemented a development profile that allows a landowner to drive greater value in terms of what they help bring to market.
The new features are seen as major additions to the platform’s registration process that had largely remained unchanged since its initial launch, with greater detail surrounding site opportunities and constraints including local land charges, settlement boundaries, TPOs and increased control surrounding the setting of prequalification requirements (such as minimum levels of insurance, strength of assets and liabilities, percentage of affordable housing) as well as time frames regarding expressions of interest and any subsequent submissions of offer.
The most important new feature surrounds the inclusion of the “Development Profile” enabling a landowner to influence the nature and type of development they help bring to market. This profile is based on the Construction Innovation Hub’s value toolkit that seeks to drive the delivery of greater value in development and construction projects through an approach centred on the four capitals of natural, social, human and capital value - the tool helps define the project mission around these values whilst consequently improving both decision making and delivery of goals.
Speaking about the Development Profile, BOOM! co-founder and CEO Simon Skoczek, said: “Launching the development profile represents an exciting time for the platform. We always envisioned a landowner having the capacity to define the nature of the development they help bring to market, which our first iteration wasn’t afforded the time we knew was required to optimise the process; these new features address. They will work well on developments of any size but we see the greatest value in small to medium sized projects - the infill type that are plentiful and within settlement boundaries; those that deliver density.
“The sub-categories associated with each of the capitals allows a landowner to drive the environmental performance of the specific development and more broadly benefit the community; it can enhance social outcomes by maximising infrastructure delivery and wellbeing, or placing a community voice front-and-centre of the design phases; it has the ability to deliver social services through community programs or upskilling and even drive higher quality and climate resilience that together improve Gross Development Value (GDV) whilst also reducing the impact of construction on society - it’s exciting.
“For developers it will act as a roadmap for what should feature in any successful proposal - saving them time whilst allowing them to market their skills set accordingly.”
The next focus for BOOM! is to further integrate the Development Profile with the site’s SaaS appraisal function to enable developers to communicate the impact of a particular development’s profile on cost and GDV - further improving the decision making process whilst strengthening the partnership between landowners, developers and the community - as we see it, the more we work together the more we all benefit.