Estate Regeneration - Residential

Property Market Analysis

Newark & Sherwood District Council

Outline

AspinallVerdi were commissioned alongside Urbed by Newark and Sherwood District Council to advise on the selection and testing of residential development options. Services provided included detailed market research, financial modelling and delivery advice.

The study assisted the Council in terms of decisions with respect to the nature and mix of housing appropriate to the sites, market values and informing engagement with the local community.

Services Provided

AspinallVerdi provided the following services: 

• Carried out a review of the relevant Council planning policies to understand the housing need for the area and Council’s requirements in terms of affordable housing.
• Completed in depth market assessment of the residential market. This looked at both market sales and rental values, to consider the build to rent option.
• Established robust assumptions to be applied in the financial development appraisal including, build costs and land value.
• Prepared a number of appraisals to understand the level of return to the Council from the options and scenarios identified.

Outputs

A market report and indicative financial appraisals have been produced to assist in the formulation and testing of options for the masterplan.

AspinallVerdi have demonstrated that the site is challenging from a viability perspective due to the site being in a low value area. 

The report concludes by identifying the preferred option for the site so that the Council can use it as an evidence base for further testing at the detailed design and delivery stage.

 

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