Surveyors and Property Consultants

Regeneration & Strategic Development


Development Economics & Economic Viability Assessments

 

Whether at policy level or at specific scheme or project level development economics and economic viability assessments are central to delivery and are a crucial part of developers’ and Authorities’ considerations. 

 

We are experienced in preparing viability assessments including the preparation of assessments for the Community Infrastructure Levy (CIL) for both residential and non-residential development and we have undertaken many area wide viability assessments for Authorities to support their Local Plan Policies and ultimately the possible introduction of a Community Infrastructure Levy (CIL) tariff, together with other matters such as affordable housing policies and Area Action Plans.  We are well aware of the knowledge that is required to successfully undertake such assessments, and have an excellent understanding of the issues that are likely to arise and their solutions. 

 

We have in depth experience of the development market and its interactions from both sides having acted for Local Authorities, other public bodies and developers and landowners in planning viability matters.  In the private sector our clients include a range of national and local developers, house builders, development managers and other organisations. Geographically our experience is nationwide acting for a range of clients across and throughout the UK.  We are also appointed on the European Investment Bank’s (EIB) panel to undertake development viability assessments of European Investment Bank funded schemes throughout the UK.

 

We are retained by and provide advice to a number of Local Planning Authorities in respect of economic viability advice in relation to planning applications, where issues such as affordable housing and S.106 obligations make developments unviable.  This role also includes the negotiation of planning obligations and S.106 Agreements and acting as an expert witness, as required, in planning inquiries.  Similarly we advise developers where S.106 obligations make developments unviable and we have been successful in concluding a great many agreements for reduced S.106 obligations.  Our expertise in this sector is recognised nationally and we are one of only 20 expert mediators appointed by the Homes and Communities Agency and Department of Communities and Local Government to resolve impasses in S.106 Agreements and reactivate development.

 

Today’s property market conditions mean that developers are more sensitive than ever to the need to limit their costs and maintain profit, however our knowledge of the development process and appraisals in particular means that this can often be accommodated without the Local Planning Authority having to forgo policy requirements such as appropriate affordable housing, highways infrastructure and other S.106 requirements.  We also recognise the need to provide timely advice in a straightforward and easy to interpret format.

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