While AR Developments is a new principal platform, the team brings decades in institutional development management experience, having operated within national housebuilders, Tier 1 delivery teams, and principal-led structures. This experience underpins our transition into a principal capital deployment role, with governance and risk controls already institutionalised.
Also, across projects where third-party equity was deployed under our commercial stewardship, capital was returned in full, within the agreed business plan horizon, and without impairment events. While return profiles varied by asset and structure, no project experienced capital loss or forced downside outcomes.
Western Circus | London, Acton | Completed 2023
Role: Development Lead
Scope: Delivery oversight of 333 apartments + retail.
Governance & Controls: Delivered on programme and on approved budget with contingency margin intact; change orders negotiated without owner exposure; contractor fixed-price contract secured.
One Nine Elms | Wandsworth | Completed 2024
Role: Construction Oversight
Team: Construction Manager-led delivery on a 57-storey tower.
Outcome Metrics: Achieved budget adherence within 2% variance; timeline maintained against critical path; monthly governance reporting to stakeholders ensured transparent decision gates.
Relay Building (One Commercial Street) | Whitechapel
Role: Cost & Commercial Lead
Scope: Oversaw cost control on a 207-unit mixed residential project—over £50 m in billed costs—while embedded within a specialist cost consultancy team.
Governance & Controls: Implemented rigorous cost monitoring frameworks, scenario modelling against trade package inflation, and staged forecast reporting to senior stakeholders; no material budget overruns from key contractor packages.
Outcome: Maintained disciplined spend tracking and variance analysis throughout delivery phases, protecting investor cashflow and preserving contingency headroom.
CASE STUDY (OUR OWN CAPITAL) BOROUGH OF EALING
Care Home Conversion into 7-Unit Residential Block + Gym
Location: London Borough of Ealing
Asset Type: Former care-home
Strategy: Heavy refurbishment, extension and change of use
Status: Completed & fully let (Covid period delivery)
Hold: Stabilised income-producing asset (managed in-house)
Development Overview
- Basement excavation
• Full-width rear extension
• Roof extension (additional storey)
• Creation of 5-storey residential block
• 7 self-contained apartments
• Lift installation
• Private terraces
• Allocated parking spaces
• Separate single-storey gym building
Total GEA: ~8,000 sq ft
Key Risks & Governance Response
| Risk | Response |
| Planning delay | Parallel design & procurement to compress post-consent timeline |
| Contractor disruption | Rapid subcontractor replacement & resequencing |
| Interest rate shock | Early refinance onto stabilised long-term debt |
Value Creation – Before vs After
| Stage | Value |
| Acquisition (care-home – vacant) | ~£1.8m |
| Total development cost (incl. build, fees, finance) | ~£2.2m |
| Total capital deployed | ~£4.0m |
| Stabilised value (residential block + gym) | ~£5.0m |
Gross value uplift: ~£3.2m
Net value created: ~£1.0m+
—Capital Stack—
Total Project Cost: ~£4.0m
Senior Development Finance: ~£2.8m (70%)
• Interest-only during build
• Repaid/refinanced at stabilisation
Investor Equity: ~£1.2m (30%)
Outcomes
✅ Fully delivered through Covid disruption
✅ Asset fully let and stabilised
✅ Refinance on completion
✅ 100% investor capital returned within 24 months
✅ Long-term cashflow retained
Investor Returns (Indicative)
MOIC: ~1.7x – 2.0x
IRR: ~30% – 40%+
(Driven by rapid value uplift and capital recycling)
Strategic Takeaways
✔ Proven ability to unlock complex planning value
✔ Heavy structural conversion expertise
✔ Crisis-period delivery discipline
✔ Capital protection through governance
✔ Institutional-style execution
