Newlon Housing Trust
Industrial Site of 7.41 Acres
Strettons provided RICS Red Book valuation report ahead of the proposed acquisition of an undeveloped 0.95-acre site within East London.
The site had no planning permission for redevelopment.
We provided a detailed appraisal of the site by giving considering to the development options, liaising with other consultants on a possible scheme and considering the value of the site with and without planning permission.
Our expert knowledge of the location including evidence of sites selling with and without planning permission in recent times plus other new schemes being developed in the local area added real value to our advice.
This undeveloped site had development potential and the client was purchasing it with this intention.
The aim of the client was to redevelop the site with a new high-density residential scheme.
We provided detailed development valuations for the scheme to provide outturn values and rents for both the residential elements and then carry out a detailed residual valuation of the undeveloped site including appraising the EUV-SH of the affordable housing. In addition, we also considered comparable sales evidence of sites selling with and without planning permission in recent times.
020 7614 0905