Development Appraisal
Pencil, Development Advisory
Any deal appraised in minutes, not days. Enterprise-grade architecture replaces the spreadsheet, so every output is consistent, traceable, and defensible.
Development Feasibility
Westlands Residential Scheme
GDV
KSh3.9B
Cost
KSh3.2B
Profit
KSh521M
IRR
31.2%
Cash Flow and Debt
Monthly capital calls, debt peak, and collections
Deal Score
Solid Deal
70 / 100 score
Hurdles
Capital Stack
Balanced
Customer + Equity + Debt
Minutes
From assumptions to a full appraisal
Gap Solver
Tells you what has to change to hit your target return
IC and Bank-ready
Bankable cash flow and a scored pack in one click
Live to handover
Load actual spend and sales as you build
Overview
Your next deal is sitting in a spreadsheet, waiting. An analyst builds the model, a manager checks it, and days later it reaches the person who actually decides. One broken formula and the whole appraisal is wrong, but nobody catches it until the bank does.
Pencil ends that. Enter what you know, whether that is a headline rate per square metre or costs down to the BOQ line, and the full appraisal builds instantly: returns, cash flow, funding, sales absorption across mortgage and cash buyers. Change a price or a build cost and every number moves with it.
When the deal stacks up, you export the investor memo, the IFRS-ready accounts and the sensitivity analysis in one click. Every assumption is visible, so when the board or the lender asks how you got there, you can show them.
Capabilities
- Full appraisal in minutes, not days
- Model at any depth: per square metre, per floor, per unit or per BOQ line
- Sales absorption tracked across mortgage and cash buyers
- Gap Solver: tells you what has to change to hit your target return
- Scenarios, sensitivity and side-by-side case comparison
- Development and takeout debt, with cover ratios lenders test
- Income statement, cash flow and balance sheet, IFRS 15 ready
- Investor memo and IC pack exported in one click
- Stays live through construction: load actual spend and sales against budget
Core Capabilities
Everything the platform brings together
Site to Profit
Everything between the land price and the return: acquisition, statutory costs, construction budgets, revenue, finance costs, profit, IRR and equity multiple.
Capital Structure Modelling
Structure debt, equity, customer collections, JV participation, drawdowns and capital calls, with peak equity and peak debt surfaced month by month.
Cash Flow and Draw Schedules
Track monthly project cash flow, debt utilisation, cumulative spend and the month the project starts funding itself.
Deal Scoring
Score each deal against your own covenant hurdles, see which tests fail, and get pointed at the restructuring that fixes them.
What-If Sensitivity
Stress-test sales pricing, construction costs, velocity, finance assumptions and capital strategy, then compare cases side by side.
Professional Reports
Export feasibility outputs, investor memos and full IFRS statements for lenders, investors, boards and internal approvals.
Pencil In Action
See it work on a real deal
A residential scheme from first assumptions to the pack that goes to the investment committee. Every screen below is the live model.
01
Does this deal work
One screen answers it: revenue, cost, profit, IRR and equity multiple, with the capital stack auto-balanced. Move the sliders on price, cost or sales pace and every number reprices instantly.
02
What has to change to make it work
Set the return you need and Gap Solver works backwards, telling you the sale price, cost saving or velocity required to get there. No more guessing at inputs until the answer looks right.
03
Accounts your auditor recognises
Not a returns summary: a full income statement, cash flow and balance sheet, with revenue recognised over time under IFRS 15 and a balance check on every period.
04
The pack that goes to the committee
Deal score, covenant tests, capital structure and the full financial statements, exported as one investment committee document. Nothing re-typed, every assumption traceable.
What's included
Why choose Pencil, Development Advisory
Enterprise-grade architecture, not a spreadsheet, so every model is consistent, traceable and audit-proof
Full appraisal in minutes, not days, with every number repricing the moment an assumption changes
One model, one set of numbers, so analysts, management and the board work from the same source
Reporting built in: investor memo, IFRS 15 statements and IC pack exported in one click, nothing re-typed