Archibility plans to speed up the development finance process by producing desktop feasibility reports.
Online start-up Archibility is a tool for developers, investors, householders and estate agents. It is a fast, cost-effective planning feasibility report to help understand whether an architectural project can work in theory. Archibility offers three options, bronze, silver, and gold, for householders, medium-size developers, and major projects.
Archibility was set up 2 years ago in the midst of the pandemic with a desire to create feasibility reports for anything from small residential to large commercial projects, showing realistic development potential within 3-5 days of the initial enquiry. The desktop study facilitates the finding of rules, policy, regulations, comparables and precedents to show what can practically be built on site and aims to give lenders confidence when assessing deals. Due diligence takes a lot of time and Archibility believes that if lenders were handed a clear and concise report highlighting realistic development potential it would speed up the whole process.
If successful, the move could help the two digital platforms meet their common objectives: to connect borrowers and lenders quickly and ensure developers make informed decisions about their sites potential, reducing the possibility of a failing project.
Saira Hussain founder of Archibilty said, ” As the saying goes, no man is an island when it comes to scaling up, there is no better way of achieving this than in partnership. The main benefit of our reports is that they come back to you within 3-5 working days, the idea came to me when a client was due to attend an auction on a Friday and approached us on Monday requiring a fast turnaround feasibility report, I thought time is of the essence when trying to secure a deal and obtain development finance and this would save both the lenders and developers valuable time. We’re currently in talks with a number of finance companies and working together to create a product that would benefit all interested parties.”
‘‘Archibility” the name derived from architecture, feasibility and probability. Clients use this tool as a solid starting point for their projects.
Reports cover but are not limited to the following:
Local and national planning constraints
Comparable local planning applications
Purchase OS Map
Existing site/building footprint
Neighbouring precedents
Comparable projects
Public transport accessibility
Historic planning application on particular site
Sketches Greenbelt status
Massing study
Basic 3D walkthrough model
Present a summary
Full written report
Examples reports are available on: www.archibility.co.uk
