The Saving: £462,674
The Client: Malins Group Ltd
Location: 176 London Road, North End, Portsmouth
In 2010, the client submitted a planning application to develop 38 apartments on London Road in Portsmouth. The planning was granted by the local authorities; however, 12 affordable housing units were requested within the planned development in North End.
In order to challenge the level of affordable housing directed by the Local Authorities, S106 Affordable Housing were appointed to produce an EAT Viability Assessment and Report. During the process, we carried out research on sales values, rental levels and BCIS construction costs. Our findings concluded that the the requested 12 units were not financially viable for the client.
After a period of negotiations with a consultant appointed by the Council, it was agreed that the site could not viably support any affordable housing. A variation planning consent was submitted and approved by the Planning Committee, saving the client £462,674.
To download the Malins Group case study, click here.