Technical planning advice and residential development viability assessment enabled delivery of first BTR community in Southampton.
Planning & Development Viability - National & Regional Property Group
£60
million
build-to-rent development – Bow Square, Southampton.
279
one and two-bedroom built-to-rent (BTR) apartments, Southampton.
Challenge
Vail Williams was appointed by developer, National and Regional Property Group, to provide expert residential planning and development viability advice in relation to Southampton’s first BTR scheme – Bow Square (Market Quarter) – close to the West Quay shopping centre and the Ocean Village marina.
The scheme, built on a city centre brownfield site, delivered premium lifestyle amenities including a fully equipped residents lounge, communal Wi-Fi, business centre, games & TV room, fitness room.
How we helped
- The proposed two-storey building was to be located towards the centre of the site, reflecting the established pattern of development.
- Access was designated, with on-site car parking facilities for staff and visitors.
- Planners overcame challenges relating to tree clearance required for development ensuring that, where possible, existing trees could be maintained.
- This ensured the retention of the character of the area, whilst providing mature landscaping as part of the development.
The technical planning and development expertise of Vail Williams, together with their knowledge of the private rented sector and nascent built-to-rent-market, was integral to the successful delivery of this residential scheme.”
Shaun Adams, Chief Executive Officer, National & Regional Property Group.
Result
- Successfully negotiated the planning process to achieve planning permission for the build-to-rent scheme in 2017.
- Market knowledge and in-depth FVA informed National Regional Property Group’s decision to deliver the landmark scheme.
- Bow Square completed in 2021, enabling the introduction of a new type of tenure to Southampton.
- The professional, purpose-built PRS accommodation attracted a range of occupiers, including students and young professionals.
- In 2023, PATRIZIA sold the development to CompassRock.
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.
SouthamptonPortsmouthBournemouth
SouthamptonPortsmouthBournemouth
