Cloisters Way, Leamington Spa

RCA were instructed to provide an FVA for the proposed development on the site known as the Former North Leamington School, Cloister Way. The FVA and report assessed the schemes’ ability to provide a policy compliant level of affordable housing and S106 obligations which had ben requested by Warwick District Council.

RCA concluded that the scheme was unviable to support a provision of 40% affordable housing and make any contributions given that the Residual Land Value of the scheme was significantly below the assessed Benchmark Land Value. The Council’s appointed assessor ultimately agreed with RCA’s assessment and concluded that there was no further scope for additional affordable housing or planning contributions.