The financial and viability appraisal of schemes is integral to the development process and is becoming increasingly important in the planning process. Developers, in particular, require their consultants to understand the impact of changes in cost and value parameters upon the viability of schemes. Our extensive experience of development appraisals, coupled with our current market knowledge, puts us in an ideal position not only to understand but also to address and advise upon issues of development viability.
Most local planning authorities will require a financial appraisal of any development schemes that do not comply with local planning policy either in terms of the provision of affordable housing or other planning obligations (under Section 106). In addition, many local planning authorities are now looking at the funding of elements of strategic infrastructure through the implementation of Community Infrastructure Levy (CIL). Therefore, the importance of understanding the full breadth of potential planning obligations and the impact of these upon development viability is critical to both developers and local planning authorities.
Working with RCA on Development and Viability Appraisals
We have an extensive track record in all areas of viability assessments, working on behalf of both developers and local authorities. We are Chartered Surveyors as well as Chartered Town Planners so we not only advise on the commercial viability of proposals but we are also able to demonstrate this through the production of qualified development appraisals that include detailed cost and value information.
For local authorities, this means that we can test development proposals to ensure that we can derive the greatest level of development obligations whilst at the same time ensuring the deliverability of those proposals.
For developers, we can present viability arguments to a local authority that demonstrate the level of planning obligations (including affordable housing) that can be supported by a proposal. Where negotiation on the extent of planning obligations is required, we believe that an ‘open book’ approach is the most effective at achieving a resolution. In both cases, we are prepared to represent our client at public inquiries in an expert witness capacity and we have sufficient professional indemnity cover to provide this service.
If you need balanced and robust advice, we are well-placed to offer you the benefit of our experience in dealing with planning gain issues at all stages of the process.