Land at South West, Matford Viability 1st Review
Site Specific S106/Affordable Housing Economic Viability Appraisals
AspinallVerdi was instructed by Teignbridge District Council to review the viability of the development known as Land at South West, Matford Exeter. The viability 1st review was required as part of the Section 106 agreement and is to assess the appropriate level of affordable housing the scheme can viably provide.
The development is for between 1,350 – 1,500 dwellings, 1 primary school, up to 2,000 sqm A class uses, up to 2,000 sqm B1 class uses and up to 2,000 sqm of D1/D2 uses.
AspinallVerdi reviewed the Applicant’s viability statement as follows:
· Policy review
· Review of S.106
· Property market analysis of proposed uses to inform Gross Development Value
· Assessment of development costs
· Assessment of benchmark land value
· Assessment of development timescales
· Development appraisals of proposed development with sensitivity tables
· Comparison table of areas of agreement/disagreement
· Recommendation of level of contributions due
AspinallVerdi provided the Council with a detailed evidence base report that can used to challenge the level of contributions offered.