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Turner Drake & Partners Ltd.
6182 North Street
Halifax, N.S.
B3K 1P5

Tel.: (902) 429-1811
Toll Free: (800) 567-3033
Fax.: (902) 429-1891

PO Box 332, Stn Main
Moncton, N.B.
E1C 8L4
Tel.: (506) 389-1811

Suite 221
12 Smythe Street
Saint John, N.B.
E2L 5G5
Tel.: (506) 634-1811

Suite 11
109 Richmond Street
Charlottetown, P.E.
C1A 1H7
Tel.: (902) 368-1811

35 York Street
St. John's, N.L.
A1C 5M3
Tel.: (709) 722-1811

4th Floor
111 Queen Street East
Toronto, ON.
M5C 1S2
Tel.: (416) 504-1811

E-Mail: tdp@turnerdrake.com
Internet: www.turnerdrake.com

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Counselling Services

Feasibility Studies

Our Feasibility Study can (1) test whether a proposed development is financially feasible; (2) determine which one of several mutually exclusive developments is the optimal project; (3) identify the type and size of the development that will maximise the return on investment.

Highest and Best Use

Many developers have a project in mind for their property, often based on successful developments on other sites, or simply dictated by the type of use and maximum density permitted under the zoning by-law.  Our Feasibility Study acts as a sounding board by providing that valuable second opinion as to whether the proposed development meets the acid test of financial feasibility.

Frequently the zoning by-law will permit more than one type of development, or a mixed use project.  We have the Valuation, Geographic Information System (GIS) and Counselling expertise, software and data, to provide independent advice on the type and mix of development that will maximise the fiscal return from the property.

We can also provide advice of a more “granular” nature.  For example, we can assist the developer of a condominium apartment project by providing the following information at the pre-design stage:  number, mix and size of apartment units; number of bathrooms per unit; apartment and building amenities in demand; number of parking spots required; market value of each apartment unit and market absorption rate.

Scope of Work

We provide Feasibility Studies on all types of real estate:


  • Apartments (Rental)

  • Apartments (Condominium)

  • Hotels and Motels

  • Housing Projects

  • Industrial Properties

  • Office Buildings

  • Shopping Centres

  • Subdivisions

  • Mixed Use Projects

Typical Assignments

Our Feasibility Studies are a blend of Valuation (financial feasibility), Supply and Demand Analysis (GIS), and Operational Research (e.g. linear programming) expertise.  The questions we are frequently required to address during the course of our assignments include:

Condominiums (new and conversions)
  • is there a market for all of the units?
  • at what price and over what selling period?
  • who are the likely buyers and where will they come from?
  • how many similar projects are coming on stream?
  • are the demographics and psychographics really on my side?
  • what mix of units best meets market demand and maximises value?

Apartment Projects (proposed and existing)
  • how is the market vacancy rate distributed?
  • is my sub-market expanding, contracting or stable?
  • what impact will the proposed building have on existing rents and vacancy rates?
  • how many units should I build?
  • what amenities should be included in the proposed project?
  • what is the optimum "mix" for the proposed development?
  • will renovation and upgrading produce an acceptable return on my costs?

Industrial Dinosaurs
  • is there a better use for an obsolete manufacturing plant?
  • is it feasible to renovate for an alternate use?
  • what rate of return can I expect from a site redevelopment?
  • is there a demonstrated demand for the space?

Office, Industrial & Retail Markets
  • what rent and leasing incentives can I expect in today's market?
  • should I commit to short term or long term leases?
  • should I lease or build-to-suit?
  • is there a demonstrated demand for the space?
  • what size space will the market support?
  • what is the mix and size of units that maximises value?

Click here for our Counselling products video or review actual Feasibility case studies.