01
Cover & guide
Purpose, conventions, colour key, version notes, and a short instruction sequence.
Resource R–02 / Excel workbook
A feasibility model you can read before you trust.
A clean, assumption-led workbook for testing whether land, product, price, cost, capital, and time can form a credible development case.
The interactive model is available now. The downloadable workbook is being prepared and tested for Excel.
Base-case view
Investment case
The summary stays compact: the few figures that should survive the investment discussion, with the assumptions immediately behind them.
Development profit
KES 252m
Margin on cost
31.0%
Model status
Pass
Illustrative values only. Every output in the workbook will be formula-driven.
Output sheet
Decision summary
KES / Base case
Gross development value
KES 1.06bn
Total development cost
KES 812m
Development profit
KES 252m
Margin on cost
31.0%
Residual land value
KES 205m
Break-even selling price
KES 141,900 / m²
Cost compositionTotal / KES 812m
Land 24%Construction 51%Fees + contingency 14%Finance + sales 11%
Workbook architecture
Six tabs. One line of reasoning.
Inputs are separated from calculations; calculations from outputs; and checks remain visible. That makes the model easier to update, review, and challenge.
02
Assumptions
Site, planning, product, pricing, cost, finance, programme, and target-return inputs.
03
Development appraisal
GFA, saleable area, GDV, development cost, profit, margins, break-even price, and land value.
04
Cash flow
A monthly programme for land, design, construction, sales, debt drawdown, and interest.
05
Sensitivity
Price, construction cost, programme, and efficiency downside tests around the base case.
06
Checks & audit
Visible tie-outs, completeness tests, sign checks, and warnings for optimistic assumptions.
Decision discipline
The workbook should answer five questions.
01
Capacity
What can reasonably be built and sold or let?
02
Value
What revenue can the market support—and on what evidence?
03
Cost
What must be spent before the project can earn that value?
04
Capital
When is money required, and what does time do to the return?
05
Resilience
Which assumption breaks the development case first?
Start with the logic
Test the development case before the spreadsheet gets complicated.
Use the live model today, then join the release list for the full monthly cash-flow workbook.