Cambridge Hotel, Camberley - EVA
Property Market Analysis
AspinallVerdi were engaged by the private-sector client, Shaviram Camberley Ltd to provide an Economic Viability Assessment. This work assessed the level of affordable housing which the scheme could viably provide. Our report was used to support the planning application. The proposed development involved conversion of an existing pub and hotel, as well as a new-build extension to the building. From consultations with local parties and discussions with the LPA, the scheme design acknowledged that there was a desire to retain the existing hotel building. The proposed development re-provided commercial space at the ground floor, and 21 residential units above.
AspinallVerdi provided the following services:
- Property market assessment.
- Cost and value analysis.
- Viability appraisals using Argus Developer.
- Provision of Viability Assessment report.
- Negotiations with the LPAs viability consultants.
Our assessment concluded that the proposed scheme could not viably support any affordable housing contribution due to the higher costs involved in retaining the existing building as part of the proposed scheme. The planning application is currently being reviewed by the Council.
1804 Cambridge Hotel Eva Shaviram