AR Developments’ team brings decades in development management experience, having operated within national housebuilders, Tier 1 delivery teams, and principal-led structures. This experience enables our transition into a principal capital deployment role, with governance and risk controls already institutionalised.
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)
Care Home Conversion (into) 7-Unit Residential Block
Location: London Borough of Ealing
Asset Type: Former care-home
Strategy: Heavy refurbishment, extension and change of use
PLANNER: SAVILLS
ARCHITECT: HUT
FINANCER: CLOSE BROTHERS
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
