Housing Strategy & Provision L3 Flashcards
Pollards Wood – what was your approach on choosing comparable data?
I considered various factors when looking at the comparable evidence, these being location, size, condition, and usage similarity between the subject property and potential comparables. I also took into account recent transactions and market trends within the specific area to ensure the comparables were reflective of current market conditions.
Pollards Wood – Why was important to identify what is required in the area in regard to development purposes?
Identifying local development needs is crucial for aligning projects with market demand, policy compliance, and community needs. It also helps mitigate risks and ensures project feasibility.
Pollards Wood – What were the risks associated with the different options presented?
The risks associated with the different options presented for Pollards Wood included:
Low-risk/Low-return option (selling the site without planning permission): Risk of lower financial return but minimal investment and development risks.
Medium-risk/Medium-return option (achieving planning permission and selling the site): Moderate financial return with increased investment and development risks.
High-risk/High-return option (acting as a development partner in joint venture or equity share): Potential for higher financial return but significant investment and development risks, including financing and market fluctuations.
Pollards Wood – What did you consider to be the most appropriate strategy to maximise the return on investment? Why?
The most appropriate strategy to maximize the return on investment for Pollards Wood was determined by evaluating the risks and potential returns associated with each option. Based on this assessment, the medium-risk/medium-return option (achieving planning permission and selling the site) was considered the most suitable. This option offered a balance between risk and return, providing a moderate level of financial gain while minimizing excessive investment and development risks.
Earls Court - Why did you consider that the delivery of key worker units can have a significant impact on the services?
Because it directly addresses the housing needs of essential personnel within the community. Key workers, such as those employed in schools, hospitals, and public service institutions, play crucial roles in maintaining the functioning of essential services. By providing suitable housing options for key workers, it becomes easier to recruit and retain these individuals, ensuring continuity and quality of services for the local community.
Earls Court - What was the objective of your instruction?
The objective of my instruction for the Earls Court project was to identify the affordable housing tenure need required under the 35% provision of the development. This involved researching the specific housing needs within the area, assessing policy targets outlined in the Local Plan, and gathering data from various sources such as Census and ONS. Additionally, the objective included contacting key worker organizations to understand their employees’ housing needs and conducting surveys to gather relevant information.
Tell me about reasoned advice you have given on the acquisition/disposal of a residential or mixed-use development site.
Provided thorough analysis and reasoned advice for the acquisition for multiple sites for my client British Land, this included undertaking market research, financial feasibility studies, risk assessment, due diligence, and client consultation.
Tell me about an instance of where you have evaluated market research / analysis on housing demand and values.
Conducted thorough market research on housing demand and values for a proposed residential development. Analysed data from various sources including local reports, demographic trends, and comparable sales data. Evaluated feasibility and market potential, considering factors like population growth and proximity to amenities. Presented findings and recommendations to the client, proposing strategies to maximize project success.
