Affordable Housing Valuation: ‘Package Price’ agreement for large new build development
Client:
OptivoProperty:
Large new build development of 6 buildings comprising 296 residential units in a mix of private (Built to Rent) and affordable tenures, plus B1 office accommodation (3,696 sq m/39,784 sq ft), café/restaurant (112 sq m/1,206 sq ft) and potential change to the original basement waste transfer depotAddress:
44 Clapham Common Southside, Clapham, London, SW4We provided RICS Red Book valuation advice ahead of a proposed acquisition under a ‘package price’ agreement for the delivery of Section 106 affordable tenure housing, in the form of 108 flats (49 shared ownership & 59 affordable rent tenures) within the completed development.
Our team provided the initial RICS Red Book valuation report on the affordable tenure flats. We considered many matters, including the Market Values (notional 100% equity value), Market Rents (notional private), the market rate for the ‘package price’ by assessing the EUV-SH and the initial land payment.
We were instructed to carry out development valuations for the scheme to provide outturn values and rents for the residential units and then carry out a detailed valuation, including appraising the EUV-SH of the developed affordable tenure housing.
Our detailed research and expert analysis of the agreement resulted in the successful purchase of the flats that were still to be built.
Related Services
Affordable Housing Valuations
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