Leighton Buzzard Town Centre
Property Market Analysis
AspinallVerdi were appointed by Central Bedfordshire Council as part of a multi-disciplinary team to prepare feasibility options for a mixed use scheme for a site within Leighton Buzzard town centre
The site is currently in a number of ownerships, with the Council owning circa 52%.
A key focus of the study was to have a better understanding of how the land to the south of High Street might look; how it might be accessed and how different uses might work together; and to use this and other information to undertake market testing, development viability analysis and in due course procure a developer for the site.
The Council also wanted advice as to the potential value and importance of land parcels currently in third party ownerships and whether these be acquired or should the Council seek to work in partnership with the current landowners.
AspinallVerdi advised on key property market issues, including identifying demand from potential retailers/A3 operators. We also advised on the options in terms of commercial layout and undertook development appraisals of the preferred options. Since undertaking the study, the Council has used the viability analysis to support further land acquisitions within the site.
AspinallVerdi were responsible for:
- Detailed analysis of local property market;
- Prepare commercial brief for Urban Designers;
- Advice on scheme options/layout/unit types;
- Development appraisals for preferred options;
- Commercial commentary on deliverability and implementation of proposed options.