You are to select a site in an area with which you are familiar of suitable size to accommodate the above development. The site does not have to be available or for sale and it can be deemed suitable for the proposed development (ie that planning consent is likely tob granted). bYou are to factor the following into your consideration/costings: 1. A land decontamination cost is fixed at £125,000 2. Is a S106 payment necessary? If so, what does it cover? 3. You can assume that the scheme drawings are already prepared and the planning application is about to submitted (and for the purpose of this Coursework) the planning application will be approved. 4. The community centre is to be let to the local community group. 5. The retail units are to be let on 5 year FRI leases. 6. The supermarket is to be let to a suitable operator for a suitable term. 7. The public realm is to be transferred to the Local Authority as an adopted area on completion of the development.
You are to prepare a Report for your Developer client who requires you to prepare a fully costed Development Appraisal to calculate land value based upon the above information and any assumptions that might be required. The Report should include: 1. Description of the chosen site and the reasons for the choice 2. Matters to be considered prior to the commencement of development 3. Explanation of assumptions 4. Financial Appraisal (by using an Excel Spreadsheet) 5. Advice on the price that should be offered to purchase the land 6. Explanation of sensitivity analysis
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