North End, Portsmouth
The Saving: £58,000
The Client: Malins Group Ltd
Location: Compass House, Kingston Road, North End, Portsmouth
The client, the Malins Group, had planning consent to convert an office building in Portsmouth into 12 flats. The planning had a requirement for 3 affordable units within the development.
Whilst the project was already on site and the original s106 agreement for 3 units had been signed, s106 Affordable Housing were asked on behalf of the Malins Group to challenge the existing requirement. After preparing a toolkit appraisal to evaluate the value and costs of the development, it was clear that the project would not be financially viable with 3 units dedicated to affordable housing and a challenge to the s106 agreement was mounted.
Using the findings from the viability study, s106 Affordable Housing submitted a variation planning application, which highlighted a case for zero affordable housing. The Local Planning Authority appointed their own consultant who agreed with the findings and at planning committee the application to remove the s106 obligation was approved. This provided the client with a fully open market development and increased the value of the land by £58,000.
To download the Malins Group case study, click here.