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COLBURN
5 & 6 BAILEY COURT
COLBURN BUSINESS PARK
RICHMOND
NORTH YORKSHIRE
DL9 4QL
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Residential Management Team
Our Offices
Planning & Development
Our viability appraisal was pivotal in renegotiating a Section 106 agreement for a residential development.
After a small amount of negotiation, the clarity of our evidence meant that the Council agreed the Section 106 Agreement should be waived.
Challenge
Section 106 Obligations
Our client had obtained a Residential Planning Consent for three bungalows in the Richmondshire District Council area. Due to Richmondshire’s overriding rural character, in some instances the Council impose Section 106 obligations on single unit developments.
Our client had been asked to sign a Section 106 Agreement which tied the developer of the units to pay a commuted sum of £11,800 and for one of the units to be sold at a value of 20% below Market Value. This would have had a significant impact on the viability of the project.
Our client instructed us to undertake a Viability Appraisal to negotiate this commitment.
Solution
An expert appraisal
Following our instruction from the client, we reviewed the Section 106 Agreement and initially made contact with the Council to discuss their views on the submission of a Viability Appraisal. The Council confirmed they were happy for us to submit a Viability Appraisal and agreed that following our submission they would consider whether the Section 106 Agreement was appropriate.
We produced a Viability Appraisal, which was approved by our client and was then forwarded to the Council Policy Officer, who we are in regular contact with.
Outcome
Providing clarity
The Council’s Policy Officer agreed that our Viability Appraisal demonstrated that the Section 106 Agreement and the costs within it would not be appropriate. After a small amount of negotiation, the clarity of our evidence meant that the Council agreed the Section 106 Agreement should be waived.
As a result, the commuted sum and affordable housing obligations were both removed, saving our client a significant sum of money, and greatly increasing the marketability and viability of the site.
Your dedicated
GSC Grays Advisor
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Planning & Development
Planning Applications
Planning is an increasingly complex area and with their in-depth knowledge our staff are able to best advise you on the technical work that might be required in support of your planning application.
Planning & Development
Development Progression
Our team of professionals at GSC Grays have experience in overseeing a wide range of projects, from small domestic schemes to substantial commercial developments.
Estates, Farms & Land
Valuations
In an increasingly complex and regulated environment, GSC Grays will work with you to determine the exact nature of the report that you require and tailor the valuation to those requirements.
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