Financial Viability Assessment, Hastings, East Sussex
Baptist Union Great Britain
Financial Viability Assessments
We were instructed by Baptist Union Great Britain (the applicant) to prepare and submit a detailed Financial Viability Assessment (FVA) for the site with supporting information. The site is located on the periphery of the town of Hastings on the south coast of England.
The proposed scheme consisted of 50 units comprising of 12 flats and 38 terraced, semi- detached and detached houses.
We provided detailed development advice including viability appraisal work to the project team to confirm an affordable housing strategy with the client team. We considered residential values as part of our advice and provided detailed valuation advice relating to the Benchmark Land Value. The existing use of the site is greenfield and so careful consideration was necessary in the valuation of the Benchmark Land Value in order to appropriately assess the affordable housing contribution.
We engaged with the Local Authority’s consultant to ensure timescales were achievable and reached. Upon agreeing the viability position, we continued to assist the client in drawing up the relevant sections of the S106 agreement.
We achieved a negotiated settlement with the local authority’s viability consultant and ensured that the drafting of the affordable housing provisions within the s106 did not have an adverse impact on the marketing and sale of the site.
Our Track record
Stadium Holdings Ltd
1 Olympic Way, Wembley
Neighbourly Matters advice for a 7-storey extension to provide student accommodation
Acquisition for Kwik Fit, Atex Business Park, Stowmarket
Instructed by Kwik Fit as national retained acquisition agents
Acquisition of a former public house, Godalming
Identified and acquired the site for Majestic Wine
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
Ropemaker Properties Limited
Alfa Laval Tower, Brentford
Assessed the financial viability of the scheme for a planning appeal
Orchard Street Investment Management
Altrincham Retail Park expansion
Secured planning permission via a Section 78 appeal
The Crown Estate
Application and Environmental Impact Assessment for land off Beavor Lane, Axminster
Planning application and EIA for for part of the east Axminster urban extension
The Arch Company
Providing a full suite of Building Consultancy services throughout the UK
London and Regional
Archers Spring, land North of Welwyn Road, Hertford
Instructed to to provide strategic land and planning application advice