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Affordable Housing Valuation Advice

Lymington Fields, Chadwell Heath, Essex RM8


Client

Home Group

Property

Affordable Tenure Houses & Flats

Project Summary

Strettons provided RICS Red Book valuation advice ahead of acquisition of affordable tenure housing within the completed development.

We were instructed to carry out detailed valuation advice on current Market Values of private and Shared Ownership (notional 100% Equity Share). Existing use values as at January 1999 and current Market Rents for the various units at various stages of the development.

We continue to provide valuation advice. 

The whole site including all phases is approximately 12.9 hectares in size, which was previously used as playing fields. 

The entire site was for a residential-led development of 602 new units in a mix of 1 to 5 bedroom dwellings in the form of bungalows, houses and flats providing private and affordable tenure housing. There is also to be a new school and heath facility, plus new access from Whalebone Lane South.

Home Group had agreed to take delivery of 117 affordable tenure properties in Phase 2. The properties were in mix of houses and flats (90 x affordable rent and 27 x shared ownership tenures). 

Gary Powis

020 7614 0905
gary.powis@strettons.co.uk