Property Market Analysis

Shaviram Hemel Ltd

Outline

AspinallVerdi advised the private-sector client, Shaviram Hemel Ltd, on an Economic Viability Assessment. This work assessed the level of affordable housing which the scheme could viably provide. Our report was used to support the planning application for the scheme. The proposed development involved an upward extension to an existing office building close to Hemel Hempstead Town Centre. In this case, Permitted Development Rights had already been secured on the existing building, but a planning application was required for the extension. The scheme involved 109 residential units.

Services Provided

AspinallVerdi provided the following services: 

• Property market assessment from online sources and local agents.
• Cost and value analysis.
• Viability appraisals using Argus Developer.
• Provision of Viability Assessment report.
• Negotiations with the LPA.

Outcome

Our study showed that the proposed development could not viably support the level of affordable housing required by local policy. The final report was to be submitted as part of the planning application. The scheme has now been granted planning permission.

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