Hi BGV

Firstly I would be vary about accepting any info dependant upon the expertise of the person supplying it.

I have recently relocated to oz but I was a Director of a Construction Consultancy in the UK and am a Chartered Quantity Surveyor and Project Manager with over 20 years experience working as an advisor to developers.

Without knowing more detail the issues that strike me immediately are:-

1/ What is your contractual relationship with the developer and what are the terms and conditions.Any other liabilities/relationships will flow from this.You need to have this reviewed by a solicitor

2/ What is the timescale of the development and what stage is it at.
Obviously the longer the development period the more risk and the less attractive the return is.

3/ Where have the costs come from.You need to have these scrutinised by your own advisors to ensure they are reasonable.

4/ Where has the sale price come from.Is this reasonable

I do not want to appear overly cautious but if this is your first development I would be very wary about entering into this without recieving the necessary professional advice and that does not mean from this forum.

Colin