Does it Stack Up? Is it Viable?
It is easy to say that a development proposal is not viable, but what does it really mean for Local Authorities who receive a planning application where the applicant outlines viability issues?
- How do we measure viability?
- What is the role of existing use value in considering viability?
- What is the influence of banks and other lenders on viability?
- Is the lack of viability down to market factors or is it more site-specific?
What would it take to make a development viable?
- A small rise in prices may make a scheme viable or a slightly lower profit?
- A different affordable housing mix, the new affordable rent in place of the traditional social rent and the application of Affordable Housing Grant may make a critical difference? At what point can we say that a development is viable?
At Adams Integra we are used to addressing all these questions particularly on site-specific planning applications where:
- We can support local authorities determine if viability is the critical issue.
- We can negotiate for local authorities with developers, registered providers and other interested parties.
- We can support local authorities in providing specialist appeal support.
- We can negotiate CIL payments and other financial contributions.
The Answer is?
We may not have all the answers but we do have many years’ experience of viability studies for both Local Authorities and Developers. These might be site-specific or designed to test strategic policy. We adopt a robust methodology to produce a case that will stand up to formal inquiry.
For more information contact us or telephone 01243 771304.
