Affordable Housing Valuation: ‘Package Price’ agreement for new mixed private and affordable tenure scheme

This new mixed private and affordable tenure scheme, known as ‘The Assembly’, involved the demolition of the existing school building and the building of a new 5 form entry Primary School and 284 dwellings. The residential element of the scheme comprises blocks of between 4 to 6 storeys containing a total of 284 flats, 142 of which are affordable tenure.  

We were instructed to carry out development valuations for the scheme to provide outturn values and rents for the residential units and then carry out a detailed valuation, including appraising the EUV-SH of the developed affordable tenure housing. 

We provided RICS Red Book valuation advice ahead of a proposed acquisition under a ‘package price’ agreement for the delivery of the 142 affordable tenure flats (74 shared ownership & 68 affordable rent tenures) within the completed development. 

Our detailed research and expert analysis of the agreement resulted in the successful purchase of the flats. We continued to provide valuation advice throughout the development programme, including setting the sale values of the shared ownership flats.