Financial Viability Assessments
Development and Financial Viability Reports
Financial Viability Assessment
Viability can be used to inform the design of a proposed development at the plan making stage; alternatively a full Viability Assessment should be submitted with the planning application.
Development sites and proposals are very site specific and are assessed on individual sites merits. Normally local planning authorities will usually appoint their own individual assessor at the application stage to review the submitted viability assessment and test the assumptions adopted.
The proposed scheme will be valued on a Residual Land Value approach and compared to a Benchmark Land Value. The National Planning Policy Framework (NPPF) and Planning Practice Guidance (PPG) outline the most appropriate approach for assessing the Benchmark Land Value.
The most common method for determining the Benchmark is to assess the existing use value (EUV) of the site plus a suitable premium for the landowner. The price paid for land is not given much consideration in determining the Benchmark Land Value.
The council's individual assessor will likely review the market evidence submitted to inform the Gross Development Value of the proposed scheme and either agree or disagree with the inputs. The assessor will not usually try to undermine deliverability or compromise sustainable development but advise the decision maker whether the scheme is providing the maximum reasonable level of affordable housing and / or planning obligations.
Roscoe Group - Providing Planning Viability Assessments and Advice
The Roscoe Group Chartered Surveyors is an independent firm based in London. A regulated member of the Royal Institute of Chartered Surveyors and Registered Valuer providing expert Development Consultancy and Agency services in London, Home Counties and the South East.
What our clients are saying about us.