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Ashley Chartered Surveyors
As part of the development appraisal, we carry out research into constraints and opportunities evolving from the location, legal and planning aspects of potential sites. A site visit is always carried out to check the physical characteristics of proposed development sites.
We also calculate the Gross Development Value (GDV) as the final capital value of the completed project is expected to be when it is eventually sold. The calculation is based on research of current market values.
From architectural plans or based on assessment of accommodation proposed, build costs including any costs related to the site preparation and construction of the property are appraised. The calculations include expected levels of profit for developers and once cost of finance has been included, the resulting value (residual value) is a good indication of the land value before construction is carried out
The RICS define a development appraisal as “an objective financial viability test of the ability of a development project to meet its costs including the cost of planning obligations, whilst ensuring an appropriate site value for the landowner and a market risk adjusted return to the developer in delivering the project”.
We can provide development appraisals for financial assessment to determine the viability of a project. Experienced and RICS qualified Chartered Surveyors will be able to assist you for all residential and commercial developments on green belt sites to refurbishment and conversion projects.
Development
27 Old Gloucester Street,
London WC1N 3AX
+44 (0)207 118 1009