Financial Viability Assessment, Kings Meadow, Reading
Financial Viability Assessments
Build to Rent
Rapleys was instructed by Lochailort Reading Limited (the applicant) to prepare and submit a detailed Financial Viability Assessment (FVA) for the site with supporting information located within the centre of Reading.
The scheme consists of a part 12 and part 22 storey residential development to provide 315 residential units. The development had been specifically designed in a bespoke manner for the Build to Rent market to include both high quality residential accommodation with exemplary levels of on-site amenities for the use of the residents. The amenities on-site include resident lounges, tech-hub, dinning rooms, cinema rooms and various external terraces.
We provided detailed development advice and worked within the project team to confirm an affordable housing strategy with the client. We considered the impact of costs and sales values on the viability of the scheme and considered various scenarios for the Benchmark Land Value.
Upon agreeing an affordable housing strategy with the project team, we prepared and submitted a full viability assessment including all supporting data to the Local Authority. We engaged with the local authority and their in-house viability consultant throughout the negotiations in relation to affordable housing contribution. Upon agreeing the viability position, we then negotiated the units to be provided off-site.
We achieved an affordable housing position in line with the client’s expectations. On this site, the agreed contribution was an off-site provision of affordable housing.
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