The second edition of the highly successful Contemporary Property Development is an up-to-date and in-depth examination of the process of developing property for commercial gain. Written with construction and property professionals and students in mind, it provides both a basic level of information and also the opportunity to acquire more advanced skills. It will also be useful to more peripheral members of the development team as well as a wider readership of policy makers searching for a better understanding of the sector's mechanics.The scope is comprehensive, offering a solid introduction to all aspects of development. Part 1 takes a detailed look at the background to property development in the UK, discussing development routes, the players in the market, the property and investment markets. Part 2, Development Inception, explains how projects get off the ground. Part 3 looks at finance, in particular, retention financing, risk reduction, and tax. Part 4, Project Appraisal, presents the sometimes sophisticated nuts and bolts procedures that developers use in practice to assess project viability, including the basic, cash flow, accumulated cash flow and discounted cash flow appraisal models, pointing out their relative merits and sensitivity. Part 5 discusses project execution and Part 6 highlights the post-construction phase. Part 7 analyses the issue of risk in property development, how to identify and mitigate it using commonsense techniques. Finally, Part 8 describes real life case studies in depth to show how the process works in the real world, linking theory with practice.