We advise developers and local authorities on development viability, S106 obligations, affordable housing requirements and the Community Infrastructure Levy. We are one of the UK’s leading advisors and play an active role in the formulation of viability best practice guidance and financial appraisal toolkits.
KEY SERVICES:
Viability appraisals
S106 negotiation
Disposal & acquisition of S106 affordable housing
CIL viability evidence base production and advice
Local plan viability evidence base production and advice
Affordable housing policy viability testing
Masterplan viability
Option appraisals
Valuation of affordable housing
Financial appraisals for enabling development and heritage cases
CIL in-kind valuations
AFFORDABLE HOUSING AND VIABILITY CASE STUDY
We provided viability advice to Cala to support their application for the first phase of the Long Marston Garden Village. The whole site is to deliver circa 3,100 new homes and a 5.7 ha business park. The first phase sought to deliver 400 of these dwellings, up to 4,000 sq m employment hub (B1(a)-(c)) and a community hub (A1-A5/B1(a)/C3/D1/D2).
The first phase provided significant contributions towards infrastructure and open space, partof which would support other phases in the development. Our appraisals demonstrated that the scheme could not support any affordable housing in addition to this in this phase, however the client agreed to provide a commercial offer of 17.5% affordable housing on the site as compared to the Policy requirement for 35%.
OUTCOMES
We worked with the applicants, the Council and their advisors to secure agreement on the viability of the scheme and our client’s offer. This position was accepted by the Council and their viability advisors. We also assisted CALA Strategic in their bid for HIF funding from Homes England for the whole site, which was supported by the Council.
Countryside and L&Q are JV partners in Acton Gardens LLP which is bringing forward an ambitious programme to redevelop the South Acton Estate. In 2018, the JV submitted a revised masterplan to increase the total number of residential units from 2,440 to 3,300.
The JV needed to secure approval for the revised masterplan and a detailed permission for the next phase in the sequence of the on-going regeneration programme within a very tight timescale to meet its re-housing commitments to existing residents. The regeneration programme faces significant challenges resulting from the costs of decanting existing residents, with a commitment to ‘no second moves’.
We worked with the applicants, the Council’s advisors and the GLA to secure agreement on the viability of the scheme and its ability to meet emerging London Plan policy on the reprovision of existing social rented housing.