From a single housing plot to a former boot factory, we are able to undertake residual valuations to determine the market value of any property that has planning permission for a change of use. We calculate the Gross Development Value (GDV) and then make allowances for the costs of construction, professional fees, finance costs, s.106 agreements and CIL payments. Remove the “developer’s profit” and the resultant residual figure is the maximum market value that a willing purchaser could bid up to.
Of course, it’s not just housing development that requires this type of valuation expertise. Any change of use, from B1 office to D1 non-residential institutions or from B1 office to sui generis HMOs (Houses in Multiple Occupation), we have experience of assessing the value of a range of properties in their embryonic stage.
Call us now to discuss how we can help you develop your site/property to its maximum potential.
Call Kate or David now for a chat now 08081698881