Redcar and Cleveland Whole Plan Viability Update
CIL & Local Plan Viability Assessments
Planning & Development
AspinallVerdi was commissioned by Redcar and Clevland Borough Council to undertake a whole plan viability assessment update to be used as evidence to:
- Assess the cumulative impact of the Draft Local Plan policies (including Affordable Housing)
- Assess the viability of the proposed 2016 development site allocations. Assess any changes in the market that have occurred since 2013, when the initial study was completed.
AspinallVerdi undertook the following tasks:
- Desktop research of available market evidence (Land Registry, EGi, Zoopla etc.)
- Review of proposed Plan policies
- Assessment of development land allocations across the borough
- Consultations with estate agents and land agents
- Established different value zones across the borough
- Agreed development typologies to be tested
- Prepared a bespoke viability financial model Sensitivity analysis to test changes in values and costs on viability.
The initial viability study was completed within a 6-8-week period with clear recommendations on Affordable Housing policy and Local Plan viability.
The Affordable Housing target % was appraised and set at a rate that was viable and efficient for all schemes and different value areas.