Track record

Land South of Heather Close, West Ashling, Chichester

Worthing Homes

Realising the maximum value from affordable housing within the greenbelt

Worthing Homes Chichester

Affordable Housing

Development Consultancy

Disposals & Acquisitions

Service

£1,600,000

Project value

Residential

Industry

Simon Corp

The project

The developer, Newship Developments Ltd, is developing the greenfield development site with 18no new homes constructed using Modern Methods of Construction (MMC) volumetric construction. The planning consent included a s106 requirement to provide 9no affordable housing dwellings.

Rapleys’ Residential Development team procured the offer for the site from Worthing Homes, a local Registered Provider. We worked with both parties to agree the heads of terms and managed the acquisition on a land and build package deal basis through to exchange of contracts.

Partner

Simon Corp

This deal is a great example of smaller stakeholders working together to deliver high quality homes that are both private and affordable. It demonstrates that the sector can collaborate effectively and, while only small in terms of unit numbers, more of these deals nationwide between likeminded partners, will help to drive the sector forwards.

Our solution

We helped the developer to maximise the value for the s106 units to assist project viability.

We used our knowledge of the local RP market to find them the right partner who could achieve best value and see the acquisition through to completion.

We worked with the RP to provide the technical information they needed from the developer to get the transaction through the internal approval process, liaising between the parties.

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