03/11/10 Gun Wharf, Viability Methodology for Appellant sought to adopt write Insp confirmed Clay Farm & 241 Old Ford site value down from 2007 purchase price. LA Welwyn Garden City appeals Road, London argued policy compliant RLV basis approach was correct- RLV. Regard only to purchase price in contextual information. 03/12/10 1 Leeming Viability Market evidence P Lee (DVS) housing sales Appeal dismissed. Worth Lane, Leeming & profit levels evidence felt to be more robust than noting the preference of our Bar, that of Savills. Profit level at 15% evidence over Savills- in Northallerton based on market evidence contrast to appeal inspector at accepted. PL used a % of GDV for 41-45 Beaufort Gardens interest 12/04/11 Carlton Enabling Approach to Requirement for the appellant to Appeal dismissed. Appellant’s Cinema, 161 development. assessing demonstrate: expert adopted a future growth Essex, London viability approach- No comment made 1. A business case for about this. Main concern was 2. That alternative options had been that the enabling works would fully considered. not be done after the ‘til 3. That the works proposed should funding development had been not aim to recover original purchase completed- Lack of certainty price, but be sufficient to pay for the and risk of enabling works restoration works. being done because of this. 4. Use of the building will ensure future sustainability of the building. 5. That the development would be deliverable. 28/02/12 Water way, Viability Benchmark- Inspector preferred the detailed Appeal dismissed. Considered York adoption of build cost approach of the appellant. property had originally been purchase price Accepted appellant overall profit purchased as an investment. level of 20% of GDC, which Fall in value reflected in profit reflected risk. Applicant level of 15% level. Benchmark taken as MV- of GDV.
03/11/10 Gun Wharf, 241 Old Ford Road, London Viability Methodology for site value Appellant sought to adopt write down from 2007 purchase price. LA argued policy compliant RLV basis Insp confirmed Clay Farm & Welwyn Garden City appeals approach was correct- RLV. Regard only to purchase price in contextual information. 03/12/10 1 Leeming Lane, Leeming Bar, Northallerton Viability Market evidence & profit levels P Lee (DVS) housing sales evidence felt to be more robust than that of Savills. Profit level at 15% based on market evidence accepted. PL used a % of GDV for interest Appeal dismissed. Worth noting the preference of our evidence over Savills- in contrast to appeal inspector at 41-45 Beaufort Gardens 12/04/11 Carlton Cinema, 161 Essex, London Enabling development. Approach to assessing viability Requirement for the appellant to demonstrate: 1. A business case for 2. That alternative options had been fully considered. 3. That the works proposed should not aim to recover original purchase price, but be sufficient to pay for the restoration works. 4. Use of the building will ensure future sustainability of the building. 5. That the development would be deliverable. Appeal dismissed. Appellant’s expert adopted a future growth approach- No comment made about this. Main concern was that the enabling works would not be done ‘til after the funding development had been completed- Lack of certainty and risk of enabling works being done because of this. 28/02/12 Water way, York Viability Benchmark- adoption of purchase price Inspector preferred the detailed build cost approach of the appellant. Accepted appellant overall profit level of 20% of GDC, which reflected risk. Applicant level of 15% of GDV. Appeal dismissed. Considered property had originally been purchased as an investment. Fall in value reflected in profit level. Benchmark taken as MV-
Valuation_od_development_land_-_Workbook_1.0.docx