We have recently completed viability negotiations on a small site in Barwell, Leicestershire to allow a stalled scheme to proceed.
Acting on behalf of local developers, we were initially instructed to prepare a viability appraisial to demonstrate that the conversion of an exisiting building was not viable and that the only alternative to bring the scheme forward was the demolition of the exisiting factory to be replaced with a new build apartment scheme.
Following our success in proving that case, we were then retained to negotiate the levels of Section 106 and affordable housing contributions to be attached to the consent for the new build scheme. In this particular instance we were able to demonstrate to the local authority’s satisfaction that, although more viable than a conversion, the new build scheme still was not sufficiently viable to support any housing of Section 106 contributions.
Our work has enable a scheme that had been stalled for more than three years to proceed, and although was unable to meet policy level contributions, it has enabled delivery of new residential units for the local marketplace.