Development of luxury flats, Bush Hill Park, Enfield
Argall Properties Ltd
Financial Viability Assessments
We were instructed to provide an assessment of the economic viability of Argall Properties Ltd’s proposed redevelopment of a site currently occupied by three residential dwellings immediately adjacent to the entrance to Bush Hill Park golf club. The client was seeking to commute the affordable housing obligation off site.
The scheme involved the demolition of the existing buildings and development of 4 x 3 storey blocks of 20 self contained flats, with basement car park and landscaped gardens.
We provided detailed development advice and worked with the project team to confirm an affordable housing strategy with the client. We considered appropriate sales values, build costs and benchmark land value. Upon agreeing the affordable housing strategy, we prepared and submitted a full viability report to the local authority.
We engaged with the Local Authority and their appointed viability consultant to negotiate the affordable housing and s.106 financial contributions. Upon agreeing the viability position, we then negotiated the conversion of the on-site units to a commuted off-site payment.
We achieved an affordable housing position in line with the client’s expectations and below that which the Local Authority originally sought.
Our track record
Stadium Holdings Ltd
1 Olympic Way, Wembley
Neighbourly Matters advice for a 7-storey extension to provide student accommodation
12,000 Stock Condition Surveys – Yorkshire Housing
Appointed by Yorkshire Housing via the Fusion21 Framework to complete 12,000 stock condition surveys over a 3-year period
Kruton No. 2
9-12 Middle Street, Brighton
Appointed as Employer’s Agent on new build commercial project.
Acquisition for Kwik Fit, Atex Business Park, Stowmarket
Instructed by Kwik Fit as national retained acquisition agents
Affordable housing provisions for a mixed-use scheme, Balham
Provided a detailed FVA, development advice and affordable housing strategy
Affordable Housing valuation for a mixed use scheme, Garratt Lane, Wandsworth
Development Consultancy advice to support a planning application for a mixed use scheme
London and Regional
Albert Island Redevelopment
Providing Cost Management & Quantity Surveying services on an exemplar industrial intensification project
Aldersbrook Baptist Church
Aldersbrook Baptist Church, Wanstead
Sale of church hall and provision of cost advice regarding development and refurbishment of church.
Ropemaker Properties Limited
Alfa Laval Tower, Brentford
Assessed the financial viability of the scheme for a planning appeal