Estate Regeneration - Residential

Property Market Analysis

Newark & Sherwood District Council

Outline

AspinallVerdi were commissioned by the Council to provide specific market analyses for housing development sites at Yorke Drive and Bowbridge Road.

The study was intended to assist the Council in terms of decisions mainly with respect to the nature and mix of housing appropriate to the sites, market values and informing a process to bring forward new residential development.

Services Provided

AspinallVerdi provided the following services: 

• Carried out a review of the relevant Council planning policies to understand the housing need for the areas and Council’s requirements in terms of affordable housing.
• Completed in depth market assessment of the residential market. This looked at both market sales and rental values. The assessment also looked at shared ownership options at the Yorke Drive site.
• Established robust assumptions to be applied in the financial development appraisal including, build costs and land value.
• Prepared a number of appraisals to understand the level of return to the Council from the options and scenarios identified.

Outputs

A report was provided which set out the market research undertaken, plus key conclusions in terms of the need, demand and values of the housing that could be delivered. The outcomes from financial appraisals were clearly presented. 

The information provided has enabled the Council to progress with its investment and development program.

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