Challenge

Vail Williams was appointed by Investin Plc, specialists in high end residential development, to carry out a Financial Viability Assessment for a residential development at Fraser Range, Portsmouth.

The complexities of the development, together with the findings of our financial model, saw us conclude that delivery of affordable housing here would not be viable. The local planning authority agreed, and planning permission was granted.

How we helped
  • Undertook in-depth Financial Viability Assessment, working with Investin Plc on development viability throughout the planning application process.
  • Undertook assessment of proposals to establish whether planning contributions could be delivered viably as part of the residential scheme.
  • Produced a detailed financial model based on market research and potential sale values, balanced against the cost of delivering the development.
  • Concluded that delivery of affordable housing was not viable.

The expertise of Vail Williams’ residential property team was invaluable to secure planning permission at Fraser Range. Their in-depth knowledge of the regional residential property market in Portsmouth, together with their understanding of the dynamics of residential development, was absolute.

Jon Burgwin, Investin Plc.

Result
  • Unique complexities, including a requirement for new sea defences amongst other things, made delivery of affordable housing unviable.
  • The Local Planning Authority, Portsmouth City Council, endorsed this view.
  • Planning approval was subsequently given for 134 new homes, including renovation of existing buildings of merit, new sea defences, a coastal walkway and landscape masterplan.

Get in touch

If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.