Track record

Affordable housing provisions for a mixed-use scheme, Balham

Bernard Construction

Provided a detailed FVA, development advice and affordable housing strategy

Development Consultancy

Financial Viability Assessments

Service

Residential

Industry

Nick Fell

The project

Rapleys was instructed by Bernard Construction UK LLP (the applicant) to prepare and submit a detailed Financial Viability Assessment (FVA) for the site with supporting information.

The scheme consists of 18 residential units (C3) and class D1 community floorspace together with associated cycle parking, landscaping, play space and amenity provision.

Our solution

We provided detailed development advice and worked with the project team to confirm an affordable housing strategy. We considered sales values for both the proposed residential and commercial units and relevant build costs. We focused on maximising the benchmark land value in this case before agreeing an affordable housing strategy with the client and project team. We proposed and submitted a full FVA to the local authority for review.

We continued throughout the negotiation process to engage with the Local Authority and their consultant to ensure the client’s desired outcome was achieved within achievable timescales. Where necessary we sought advice from the project team and liaised closely with the cost consultants in this case. Further negotiations with the Local Authority and their consultants were necessary to achieve the client’s preferred tenure mix.

We achieved an affordable housing position in line with the client’s expectations and at the preferred tenure mix. We were able to assist in maximising the value of affordable housing that was secured through the s.106.

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