- V Fund
- Gloucester Quays
- 5,400 M2
The Gloucester Quays Plot Development Feasibility was undertaken for the Development Investment company, V Fund, where we looked at creating a mixed-use development opportunity.
The Challenge of the development feasibility, was to create a Highest and Best Use (HBU) development for a plot that had many constraints. These constraints included, Conservation, Planning matters and limitations on efficiency due to the historic assets of the area. Our brief was to design for maximum sales and investment return for our client.
A further Challenge was that the land valuation was not established in Gloucester Quays, as land comes up for sale so rarely, consequently, the Feasibility was also being used to generate the maximum land asset value.
Our solution was to work through a dynamic feasibility process that included all typical aspects of land asset valuation based on generating a Highest and Best Use (HBU) design option. This included, detailed land development negotiations with: the Local Authority, Planning Officers, Conservation Officers and with CIL and Section 106 Officers. These negotiations determined the viability of the Lowest Best Use and Highest Best Use options. This ensured we delivered a Feasibility Study that presented both an HBU and maximum land sale value which was subsequently used as a tool by the land owner to determine a fair and reasonable valuation of the asset.