Project
Project setup and global assumptions
Set the purchase date, horizon and global allowances. everything else
builds off this.
Used as default file name when you export.
"Save Project" button is now at the top right.
Saves automatically every 2 seconds as you work.
Requires Chrome/Edge and a manual save first to set the file location.
Month 0 is the calendar month of this date.
Auto-calculated based on events (min 12).
Acquisition & Setup
Purchase and month 0 costs
These all sit in month 0 and form the base cost before debt.
Auto calculated for non residential England.
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Commercial
Commercial units. leases and exits
Lease dates are real calendar dates. sales are based on NIY net of
purchasers costs.
Percentage of commercial rent that is non-recoverable (voids, bad debt, etc.).
% of annual rent, payable on new leases and renewals.
Lease start before purchase gives income from month 1. Future leases start when that date is reached.
Rent free is treated as a one-off incentive in the first rent month.
Vacant units: If lease start and contracted rent are blank/zero, the unit is valued using
ERV.
Units being redeveloped: Set ERV to 0 for units that expire and are not relet. Income
stops at lease expiry, no letting fee is charged, and the unit does not contribute to sale value.
| Label | Area sq ft |
Lease start date |
Lease length yrs |
Lease expiry |
Contracted rent pa |
ERV pa |
Next review date |
Rent free m |
Sale month |
Exit NIY % |
Net sale £ |
|---|
Residential
Residential units. income and sale
Unit by unit rents and sale timing. exit basis per unit.
Percentage of residential rent that is non-recoverable (voids, management,
etc.).
Annual growth applied after 12 months from letting start.
If “let before sale” is ticked, rent runs from the letting start month up to but not including the
sale
month.
Units being redeveloped: To model a unit with income that is then taken out for
redevelopment, set "Sale month" to when the unit is vacated, and set "£ per sq ft" to 0. Income runs
until that month, but sale value is £0.
| Label | Area sq ft |
Let before sale |
Monthly rent |
Let start m |
Sale m |
Exit basis |
£ per sq ft |
Exit NIY % |
Sale value £ |
|---|
Misc sales
Miscellaneous sales
Ad hoc positive capital receipts such as car park sales, wayleaves or
other
side
sales that sit outside the main commercial and residential rents.
Each row is a single lump sum in one month. it feeds straight into the cash flow as additional sales.
| Label | Amount £ |
Month | In GDV? |
|---|
Holding
Holding costs (project wide)
Business rates, management, utilities and other project level costs.
Percentage of gross rental income.
Costs are spread evenly from start month for the duration. Set duration to 1 for a single-month cost.
| Label | Total £ |
Start month |
Duration mths |
|---|
Development
Development costs (project wide)
Planning and contributions, enabling and prelims, main construction
and
professional team.
Percentage of total development costs.
All development costs are project wide at this stage. main construction uses area and £ per sq ft,
straight lined between start and end month.
Planning and contributions
Planning consultant, surveys, transport, application fees, Section 106, CIL,
nutrient neutrality, BNG etc.
| Label | Total £ |
Start month |
Duration mths |
|---|
Enabling and prelims
General building repairs, prelims, demolition, site clearance, asbestos R&D
and
similar items.
| Label | Total £ |
Start month |
Duration mths |
|---|
Professional team and other
Architect, PM / QS, MEP, structural, fire, PD CDM, PD building regs,
utilities,
solicitors, building control, non recoverable VAT etc.
| Label | Total £ | Start month | Duration mths |
|---|
Main construction. area and £ per sq ft
Residential and commercial main build only. model multiplies area by rate and
spreads it.
=
Applied to Main Construction total.
| Label | Scope | Area sq ft |
Rate £ psf |
Start month |
Duration mths |
Profile | Total £ |
|---|
Sale costs
Disposal fees and marketing
Agents, legal fees, warranties and marketing costs.
Sale costs are automatically timed to the sale month of each unit. Agent and legal fees are applied as
percentages of sale values.
| Label | Input | Amount £ | Month |
|---|
Finance
Simple senior loan facility
Single LTC based facility, capitalised interest and bullet repayment.
LTC is applied to total project costs (excl. acquisition and finance). The facility draws
monthly as costs arise and repays on the repayment month. Set repayment month to the final sale month for
bullet repayment.
Key performance indicators
Project Returns
Profitability metrics including IRR, yield, and multiples.
Project Returns
(Gross)
Before any Marin
profit split
Gross Dev Value
£0
Total sales
Purchase Price
£0
Acquisition price
Total Costs
£0
Before Marin split
Total Profit
£0
Net profit (gross)
Profit on Cost
0.0%
Target > 20%
Profit on GDV
0.0%
Margin on sales
Max Equity Req
£0
Peak equity
Equity IRR
0.0%
Equity level
Unlevered IRR
0.0%
Project level
Equity multiple
0.00x
Equity multiple
Unlevered Eq Mult
0.00x
Project multiple
Development Yield
0.0%
Yield on cost
Total Return on Equity
0.0%
Profit / Peak Equity
Levered Cash on Cash (Stabilised)
0.0%
Ann. Cashflow / Total Cost
Unlevered Cash on Cash (Stabilised)
0.0%
Ann. NOI / Total Cost
Sensitivity Analysis (Profit on Cost %)
Impact of changes in Construction Costs (Y-axis) and Exit Yields (X-axis).
Equity waterfall
Investor / developer structure
Allocate total equity between an external investor and you as developer.
How it works: Set investor share to 0% to see pure developer returns. When investor share
> 0%, the waterfall pays investor pref first, then splits excess profits per the promote %. Leave promote
at 0/100 for pro-rata sharing.
Equity structure inputs
Percentage of total equity funded by the investor.
Trigger for profit split change (e.g. 8%).
We will layer promote logic on top of this later.
Fixed annual return on investor capital.
Investor
%
/
Developer
%
Equity Requirements
Waterfall Distribution (Levered Returns)
| Party | Equity Contribution (Cash Out) |
Total Distribution (Cash In) |
Net Profit | Multiple | IRR |
|---|---|---|---|---|---|
| Investor | £0 | £0 | £0 | 0.00x | 0.0% |
| Developer | £0 | £0 | £0 | 0.00x | 0.0% |
Profit Share
Marin Profit Split
Configure the profit share percentage deducted from the total profit.
Profit Split Configuration
Percentage of net profit deducted as a cost at the end of the
project.
£0
Calculated amount based on current profit.
£0
Profit Split + Acq Fee + Asset Mgmt + Dev Mgmt
Overview
Executive Summary
Visual breakdown of sources, uses, and returns.
Sources of Capital
Uses of Capital
Monthly Cash Flow
Cumulative Cash Flow
Cash flow
Monthly cash flow view
Costs, income, sale proceeds and debt flows by month. see returns
summary
above.