Track record

Financial Viability Assessment, Edison Bell Way, Huntingdon

JCAM Commercial

Prepared and submitted a detailed Financial Viability Assessment (FVA)

Edison Bell Way

Affordable Housing

Financial Viability Assessments

Service

Residential

Industry

Nick Fell

Nick Fell

The project

Rapleys was instructed to prepare and submit a detailed Financial Viability Assessment (FVA) for the site located in the centre of Huntingdon, Cambridgeshire.

The scheme consists of a 304 unit residential led scheme including two flexible-use commercial units (A1/A2/A3/A5/D1), landscaping, open space, access, parking and associated works. The residential element of the scheme consists of a mix of 71 houses, 64 1-bed apartments and 169 2-bed apartments.

Our solution

We provided detailed development advice and worked with the project team to confirm an affordable housing strategy with the client. We considered residential and commercial sales values, build costs and the benchmark land value. Upon agreeing an affordable housing strategy with the project team we prepared and submitted a full financial viability assessment to the local authority.

Post submission we engaged in negotiations with the local authority and their viability consultant in relation to the affordable housing provision. We were able to secure agreement allowing the scheme to proceed to planning committee and secure consent.

This site was formerly industrial use and was affected by ground conditions that required a significant programme of remediation and site preparation. As a result we were able to negotiate an affordable housing strategy, which was agreed with both the local authority and their viability consultant which delivered an off-site affordable housing contribution.

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Partner & Head of Residential – Residential

Nick Fell

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