FACULTY OF ART, DESIGN & ARCHITECTURE SCHOOL OF SURVEYING & PLANNING

MSc in QUANTITY SURVEYING ASSESSED COURSEWORK 2010-11 Level: Module: Date set: Hand in date: POSTGRADUATE SVM408 PROCUREMENT AND DEVELOPMENT WEDNESDAY, 17 November 2010 BY 8 pm WEDNESDAY, 12th January 2011

SUBMISSION INFORMATION All assignments must be posted through the letterbox under the School of Surveying and Planning Office counter at Penrhyn Road by the due date and time using the Postgraduate Assignment submission sheet, which must be completed and attached to the front. Any assignment received after this date and time will be stamped LATE and can only receive a mark between 0% and 50%. Any change to this instruction will be advised via Study Space. PLEASE NOTE THAT NO WORK IS ACCEPTED BY EMAIL OR BY FAX. Hand back date: Set By: WEDNESDAY, 2nd February 2011 Fiona Firth

Module Objectives:

To provide students with an understanding of development appraisal, residual valuation and development funding. Introduction:

This project is concerned with an area of land adjacent to the Tolworth interchange on the A3 known as the Former Government Offices, Toby Jug PH and Marshall House sites. The site was assembled and purchased by Tesco who have sought (but failed to date) to obtain planning consent for a new store. You are required to value the site for your client, Tesco, as a sale of the site or possibly a Joint Venture Development. You will also prepare other information as listed below.

Background:

These three sites, which amount to 5.4ha, were assembled by Tesco in order to construct a new superstore. However, they were not able to obtain consent. Applications were submitted in 2006 and 2009 for a supermarket, residential and community uses. However, both of these applications were withdrawn amidst strong public opposition and in the case of the latter application when it became apparent that the cost of

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required highway alterations would be prohibitive. In both cases the residential content of the proposed scheme was very dense. The site is now in a cleared state. The Site: The Site is named as the Former Government Offices, Toby Jug PH and Marshall House sites extends to 5.4ha and is identified by a red outline on page 26 of the Tolworth Regeneration Strategy (see additional information). The site lies between Tolworth Railway Station and Tolworth Broadway, and adjacent to the A3. The site is also close to the Universitys sports facilities. The site is cleared and awaiting redevelopment. Planning: The government offices site is allocated for residential and community uses in the UDP (PS42), with a hotel, offices and transport interchange on the Kingston Road frontage. The sites have been the subject of planning applications in 2006 and 2009 for a supermarket, residential and community uses, both of which were withdrawn (the latter due to the high cost of required highway alterations). The government office site is the largest allocated site for new housing in the borough and was included in the GLA 2009 Housing Capacity Study and Strategic Housing Land Assessment. Housing capacity has been estimated at up to 400 dwellings; however community feedback indicates a desire for a better mix of housing with a greater proportion of family houses with gardens rather than small flats and the provision of adequate play and amenity space. Planning policy for the site is listed under further information at the end of this brief. You are to assume that all relevant policies apply to your site. Further points to note are as follows; You will need to allow in your costings for a wide landscaped buffer between the site and the A3, further amenity space and a play area will also be required. You are to assume that off site highway works to the Tolworth junction will be required. A sum of 500,000 should be allowed in your costings for this element. The required mix of residential units should be assumed to be as follows based on 400 units: 50 studio apartments, 100- 1 bed apartments , 100 2-bed apartments , 100 3-bed houses, 50 4-bed houses. Social and Affordable housing policies will need to be adhered to. You should assume the need to include 100,000 in costs to cover the construction of the Community facilities required by the council.

The Assignment:

The assignment consists of an individual report, advising the client on the basis set out below. This should include valuations and discussion, and be between 2500 and 3000 words in length. As your report will propose certain sales values, build costs, rents and yields you should provide justification or a source for these either in the report or in an appendix. You should provide a base valuation of the potential value of the site to the Client (Tesco), if it were to be sold in its current state with its present planning status. You must set out in detail any assumptions that you have made. You should advise the Client of the potential to participate in a Joint Venture arrangement. In doing so you should assume that it will be possible (with sensitive design and suitable negotiations) to achieve a larger number of units on the site than the Council have envisaged. Set out for the client mechanisms for their participation in any uplift, and advise on the best way of proceeding. The Client still holds out some hope for the possibility of including a Tesco store (of any size) within the development. You should give your opinion as to whether this is a realistic aim, setting out the type of store, if any, that you feel may be suitable and indicating a rough location. If you are suggesting that
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SVM408 PROCUREMENT AND DEVELOPMENT COURSEWORK (2) BRIEF 2010-11

this is possible, you should advise the client on a strategy for redevelopment which includes the store development.

Marking Criteria:

This coursework counts for 50% of the module mark. High marks will be received for reports which give realistic yet imaginative advice to the client all in the context of a development scheme which both addresses the concerns of the planners yet remains imaginative and profitable.

Further Information:

Royal Borough of Kingston upon Thames Environment and Planning Tolworth Project http://www.kingston.gov.uk/browse/environment/area_based_projects/tolworth_project.htm (Last accessed 27/10/2010)

Royal Borough of Kingston upon Thames, Environment and Planning, (March 2010), Tolworth Regeneration Strategy http://www.kingston.gov.uk/tolworth_regeneration_strategy.pdf (Last accessed 27/10/2010) Royal Borough of Kingston upon Thames, Environment and Planning (2005), Unitary Development Plan. http://www.kingston.gov.uk/browse/environment/planning/planningpolicy/udp_review.htm (last accessed 27/10/2010). Royal Borough of Kingston upon Thames, Environment and planning (emerging) Local Development Framework. http://www.kingston.gov.uk/browse/environment/planning/planningpolicy/local_development_framework.ht m (Last accessed 27/10/2010). Planning Application submitted by Tesco for store and related residential development application number 09/10030/OUT 24/02/2009 (withdrawn 22/04/2009). Feedback: Individual feedback will be provided in the form of written comments upon the submission and/or coursework cover. Marking guidance follows in the table below.

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POSTGRADUATE MARKING GUIDE

RANGE OF GRADES / MARKS

CHARACTERISTICS OF WORK TO BE ASSESSED

OUTSTANDING WORK: Highly effective communication. Excellent understanding and evaluation of all appropriate theories and issues. Systematic analysis, independent criticism and sound synthesis. Imaginative and creative. Deep and comprehensive research. DISTINCTIVE WORK: Effective communication. Clear understanding and an ability to evaluate appropriate theories and issues. Systematic analysis and independent criticism. Evidence of synthesis, imagination and creativity. Comprehensive research. COMMENDABLE WORK: Clear and concise communication. Strong familiarity of relevant knowledge and understanding of the major theories and issues, with some systematic analysis and informed criticism. Strong, relevant research. SATISFACTORY WORK: Clear communication. Familiarity of relevant knowledge and understanding of major orthodox views and issues, but possibly deficient in coverage and systematic analysis not fully developed. Relevant research evident but may be weak.

A+

85 -100

A A- Distinction B+ B B- Commendation C+ C C- PASS MF = Marginal Failure

75 84 70 - 74 67 - 69 63 66 60 62 57 59 53 56 50 52 45 49

MARGINALLY UNACCEPTABLE WORK: Communication uneven or poor. Grasp of some relevant knowledge of the major orthodox views and basic issues, and therefore not without some merit, but little evidence of understanding or analysis. Research weak or poor. UNSATISFACTORY WORK: Ineffective communication. Little evidence of appreciating relevant issues and with substantial errors. Minimum degree of effort or research. Non-submission / non-attendance

F = Failure

1 - 44

F0

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