Phase Two – exclusive residential development overlooking Ryde Golf Course.
MSP Capital, Development Valuation
1.78
acres
of land, Isle of Wight.
19
dwellings
including on-site affordable housing.
£6.5
million
approximate gross development value.
Challenge
Vail Williams was appointed by MSP Capital to undertake a development valuation for secured lending purposes.
MSP Capital was lending against was phase two of an exclusive residential development by Element Housing Limited on 1.78-acres of land adjoining Ryde House Drive on the Isle of Wight.
How we helped
- Valuation team researched the values of the completed houses on the development, including analysis of those on Phase 1, factoring in post-COVID changes in demand.
- We analysed developer costs against BCIS indices, profit, and any abnormal costs or features associated with the scheme and careful consideration of on-site affordable housing conditions.
- This allowed us to arrive at a residual land value.
- Presented to the client in an in-depth report in a format meeting their needs.
We are grateful to the valuation team at Vail Williams for the expertise and residential development market knowledge that they brought to this project. Their technical expertise in arriving at a residual land value allowed us to make informed decisions about the next phase of this project.
Chris Wright, Associate Director of Valuation at MSP Capital.
Result
- Technical residential development valuation expertise, together with regional market knowledge, provided client with in-depth valuation report.
- Armed the client with the information necessary to complete funding for the next phase of the residential scheme.
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.
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