Valuation of development land with planning permission for a mixed residential and commercial development

Our team provided RICS Red Book valuation advice ahead of a proposed acquisition of the site that the client intended to purchase and then carry out a new development. We were instructed to carry out development valuations for the scheme to provide outturn values and rents for both the residential units and commercial space, plus appraise the value of the undeveloped site.  

We reported on the Gross Development Value and also appraised the value of the undeveloped site in relation to Lewisham Homes purchasing the site. 

The site had planning permission for the clearance and demolition of existing buildings and the construction of 56 residential 1, 2 and 3 bed flat units in a mix of private and affordable tenures, along with 1,541 sq m/16,587 sq ft of commercial space (Use Class B1 Business) in buildings ranging in height from 4 to 8 storeys.