Residential Development Consultancy / Residential

Valuation advice for 64 new affordable tenure residential units split into 32 shared ownership and 32 affordable rent tenures

Client:

Sage Housing

Property:

Market Values: 32 Shared Ownership Market Rents: 32 Affordable Rent Flats

Address:

Goods Yard, Bishop’s Stortford, Hertfordshire CM23

Our team provided RICS Red Book valuations in the form of individual Market Values (notional 100% equity share) and Market Rents (notional private) for each flat within the completed blocks.  

The 64 affordable tenure units formed part of the S.106 affordable tenure housing within a scheme that Sage Housing were agreeing to purchase. The residential units are in a mix of 1, 2, 3 and 4 bedroom flat types, split into 32 shared ownership and 32 affordable rent tenures. 

Our existing knowledge of the scheme and marketing within the area, having worked previously on the scheme and within the area on other projects, helped to provide well considered and balanced valuations. 

The ‘Goods Yard’ site Phase 1 consists of 149 new homes of which 64 are the subject flats, 85-bed hotel, retail units and offices. Alongside this there will be a new bus link through the site, new transport interchange and station square outside the station, a new multi storey car park, cycle parking and improved public realm around the station.   

The later phases of development will include a second multi storey car park, improved pedestrian and cycle links from the station to the town centre, 400+ new homes, a 55-bed care home, a new riverside walk and a landscaped open space. 

Insights Tenure residential units split - Strettons