Development Appraisal & Financial Modelling
Public Sector Funding
Bradford University Sustainability Centre
Yorkshire Forward ERDF Appraisal
AspinallVerdi and Turner & Townsend Cost Management were appointed by Yorkshire Forward to provide independent external advice and support in respect of this application for Priority 1 (Objective 1.1, 1.2 and 1.3) funding - specifically:
- An independent review of the funding gap and whether this has been completed in accordance with Article 55 of EU Regulation 1083/2006 i.e. using the Article 55 Methodology;
- A review of the demand and need for the project having regard to the justification provided within the full business plan;
- A cost appraisal – i.e. a review of the capital costs of the proposed development.
BREEAM Outstanding Sustainability Centre
The University of Bradford Sustainability Centre will be a centre of excellence in research and knowledge transfer (RKT) focused on three areas of sustainability: (1) resource efficiency - water in particular, but also materials and processes; (2) sustainable built environment - materials, design; and (3) adaptation - behavioural, organisational and cultural change.
On completion, the Centre will be a truly interdisciplinary arena, drawing together academics and existing and new sustainability-focused businesses in a purpose-built demonstrator building (BREEAM Outstanding).
Capital and revenue funding of £3M was sought by the University to deliver the project.
AspinallVerdi added considerable value by reconciling the various capital cost and value items (e.g. site value and cashflow exit investment value) and revenue items (e.g. net/gross rental income and building revenue costs). This analysis ensured the cashflow appraisal was ‘transparent’ which enabled the award of ERDF funding.Download PDF