Estate Regeneration - Residential

Property Market Analysis

Calderdale Council

Background

AspinallVerdi were instructed by Walker Sime to provide property market and viability advice to Calderdale Council regarding a Council owned site in Halifax Town Centre.

The site was previously used as a multi-storey car park but this was pulled down and the site is now in use as a hard-standing car park only. The Council are seeking to submit a planning application and bring the site forward for residential development.

Services

AspinallVerdi provided the following services:

• Property market research to inform mix, type and tenure of housing within scheme
• Property market research to inform sales and rental value assumptions within financial appraisal
• Financial modelling of a for sale scheme using Argus Developer
• Financial modelling of a build to rent scheme using bespoke financial model
• Written report with clear recommendations on next steps

Outputs

AspinallVerdi have demonstrated that the site is challenging from a viability perspective due to the site being in a low value area and the abnormal costs of development associated with the site. 

The appraisals and report have been produced so that the Council can use it as an evidence base for funding applications.

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