Case Study Flashcards
What is the importance of taking file notes?
They set out simple record of key details for future reference.
What information did you gather when undertaking the planning
appraisal?
- Relevant planning policy (adopted and emerging)
- Planning history
- Site specific constraints
What do you include in a project brief?
What are the benefits of a project brief?
What is the difference between a development appraisal and a residual appraisal?
Development appraisal is used to assess the viability & profitability of a proposed development.
Whereas a residual valuation is purely used to calculate the Market Value of land using market inputs.
What are the benefits of a sensitivity analysis?
- Sensitivity analysis is a method of quantifying risk.
- See how changing inputs can affect the profitability or viability of the scheme.
- Can be used to provide reasoned advice to a client, including the modelling of various scenarios.
What inputs do you input into a development appraisal and why?
- GDV (Revenue)
- Build costs
- Professional fees
- Planning fees
- Marketing, letting and disposal costs
- Marketing, letting and disposal costs
- Finance costs
- Other site specific costs
- Fixed land cost
What do you include in a risk assessment?
Explain to me how you undertake an inspection?
What changes have there been to the latest NPPF?
Run me through the Local Plan process and how this gets adopted?
- Gather evidence
- Consider options
- Consultation (Regulation 18)
- Review comments
- Representation (Regulation 19)
- Examination in public
- Adopt the Local Plan
The Planning Inspector’s final report recommends whether the council can adopt the plan. Once adopted, the Local Plan will be used to make decisions on all planning applications.
What is a material consideration?
A matter that should be taken into account in deciding a planning application.
What weight does a material consideration have?
What would be the impact of your development if it was located within
the conservation area?
What is a brownfield site?
Previously developed land that’s no longer being utilised.
What does it mean if a local authority have a shortfall in their housing supply?
With the new NPPF what impact could this have on your site
What is a viability appraisal?
A viability appraisal looks at whether a site is financially viable.
What did you base your advice on for the residential mix?
What are the benefits of a pre-app?
- Instant feedback and advice from site meetings.
- Early identification and specialist advice.
- Guides development and suggests alternatives that solve any problems.
- They help gauge how the local authority will react to the proposal.
Are pre-apps legally binding?
No
How much did you pay for your pre-app?
£19,500 (includes two meetings)
What makes a good comparable?
- Comprehensive, i.e. ideally a valuer needs more than one transaction
- Very similar or identical
- Recent
- Result of an arm’s length transaction
- Verifiable
- Consistent with local market practice
What other methods can you use to use for the build costs?
BCIS
What is CIL?
Community infrastructure levy a charge which can be levied by local authorities on new development in their area to help deliver infrastructure in an area.
Does every Local Authority have CIL?
No
What is the difference between CIL and S.106?
S.106 are site-specific obligations such as providing affordable housing, whereas CIL is a fixed payment which facilitates offsite/ community contributions.
S.106 is negotiable and CIL is not negotiable.
Does your finance rate fluctuate?
No
If it did, how would you show this within a development appraisal?
What contingency would you input into an appraisal and why?
3% as advised by the internal quantity surveyor. This reflected the unknown risk.
What is the importance of good communication?
Communicating clearly with clients is key to building trust.
How do you ensure you build good relationships?
What do you think makes a good comparable and why?
What adjustments would you make to your comparable evidence?
What are the important aspects to include on a plan?
What are included in your professional fees at 6%
Architect
Engineers
Quantity surveyor
What would you do differently next time?
How did you act ethically?
What were your key achievements?
