Lfoo5 + Li-00661File 400408

Viability Analysis Regarding the Proposed Development at Grove Farm, Stradbroke

As at 20th December 2014

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Viability Appraisal
Regarding the Proposed Development at Grove Farm, Stradbroke to include the Grove Farm
and Hall Farm Barns

Freeholders
Mr Peter Hilien, Mrs Jean Keeling and Mrs Sue Webster

As at 20th December 2014

Durrants Chartered Surveyors

32-34 Thoroughfare
Harleston
Norfolk
11320 9AU

File 400408

Viability Analysis Regarding the Proposed Development at Grove Farm, Stradbroke

As at 2 e December 2014
1.0 I n s t r u c t i o n s
1.1 D u r r a n t s have been instructed to undertake a Viability Appraisal to accompany a proposed
planning application for residential development at Grove Farm.
1.2 T h e development is visually described in the concept Master Plan diagram in Appendix 2 viz
1.2.1 T w o market houses (shaded mauve)
12 2 2 3 market houses (shaded pink)
1 2 3 G r o v e Farm Barn (Barn 1) Market house (shaded dark brown)
1.2.4 1 5 Affordable Homes (shaded purple)
1.2.5 1 2 Local Needs Houses (shaded light blue)
1.2.6 H a l l Barn (Barn 2) Market house (shaded light brown)
1 3 A s part of the application the land shaded green will be provided as a green space.
2.0 T h e Site
2.1 T h e freehold interest in the land in the site overall is held by the applicants (the owners) of
Grove Farm under Land Registry Title SK331934 and as amended by titles SK339093 and
SK339097.
2.2 P o s s e s s i o n : T h e land and agricultural buildings are for the purposes of this appraisal vacant.
Only the applicants have any interest in possession.
2.3 T h e current use of the land is principally for agriculture.
2.4 S o i l type: B e c c l e s Series 1. N o special foundation provisions are envisaged.
2.5 A g r i c u l t u r a l Land Grade 3 (good to moderate). Meadow land used for grazing livestock.
2.6 B u i l d i n g s listed on the site.
2.6.1 G r o v e Farm Barn Is not listed in its own right but is in the proximity of the Grade II listed
Grove Farmhouse.
2.6.2 H a l l Farm Barn Is not listed in its own right but is in the proximity of the Grade II listed
Stradbroke Hall.
3.0 V i a b i l i t y Appraisal
In undertaking the appraisal the following plans have been considered:3.1 S i t e Layout Plan 300384/30/01 Revision G
3.2 T h e layout plans for Barn 1 (Grove Farm Barn) drawings 300631/20/01 and 20/02
3.3 T h e layout plans for Barn 2 (Hall Farm Barn) drawings 301090/20/24/20/25

File 400408

Viability Analysis Regarding the Proposed Development at Grove Farm, Stradbroke

As at 20th December 2014
3,4

series of drawings regarding the floor plan elevations to the market led housing, and both
the affordable a n d l o c a l n e e d s housing u n d e r drawing N o 300384 h o u s e t y p e s
Hillen/2N2B/314/5/617/8/9/10/11/12/13/14

3.5 F r o m the above drawings we have calculated the following areas.

Unit Type

Internal Floor Area sci m

Internal Floor Area sq ft

Market Led Housing

3,029

32,561

Affordable and Local Needs

1,710

18,382

Grove Farm Barn

320

3,440

Hall Farm Barn

390

4,203

Double Garages (15)

480

5,600

Single Garages (10)

160

1,720

Housing

3.6 S i t e Area
Unit Type

No of dwellings

Ha

Ac

Market Houses (purple)

0.0597

0.15

Market Houses (pink)

23

1.4904

3.68

Barn 1 (pink)

0.1283

0.32

Affordable Housing (purple)

15

0.300

0.74

Local Needs Housing (blue)

12

0.281

0.69

Barn 2 (orange)

0.163

0.40

Green Space (green)

0.708

1.75

Total

54

3.077

7.73

4.0 A c c e s s Roads
4.1 T h e various adopted highway areas are indicated on the site layout plan (see Appendix 1) with
adequate visability splays recorded and all in the control of the applicants.
5.0 E c o l o g y
5.1 M i t i g a t i o n measures will be integrated in to the site design generally. Reports are submitted
with the planning application. W e are not aware of any significant cost implications under this
heading.

File 400408
Viability Analysis Regarding the Proposed Development at Grove Farm, Stradbroke
As at 20th December 2014
6.0 A r c h a e o l o g y
6.1 W e believe an archaeological dig will be required and a quote has been received from Suffolk
County Council in the sum of E9,480 plus VAT under this heading.
7.0 F l o o d Risk Assessment
7.1 T h e design will take into account surface water attenuation. There is a suitable outfall on the
eastern side of the site where the drainage swales are located. O n site surface drainage
network and attenuation facilities costs are estimated at E82,500.
8.0 U t i l i t i e s
Various reports have been secured and accompany the planning application.
8.1 F o u l Drainage
8 1 1 A public foul sewer adjoins the local needs housing on the eastern side and this will be utilised
for disposal of drainage from the Grove Farm site. Estimated foul drainage network costs at
E55,000.
8.1.2 T h e foul drainage from Barn 2 could either be led to a biological filtration unit or we understand
the mains adopted foul drainage system.
8.1.3 Drinking Water
The following costs have been estimated: Infrastructure Charge - E l 8,975
Connection Charges - E 2 3 , 8 1 5
Meter Charges E l
1,495
On-site Mains Services - E55,000
8.2 E l e c t r i c i t y
8 2 1 A new electricity supply including diversion of the overhead line is estimated to cost E110,000.
8.3 G a s
8.3.1 N o n e available.
8.4 Te l e c o m s
8.4.1 I t has been assumed there will be a net financial benefit by the introduction of the telecoms
This benefit is assessed at E7,700.
9.0 L a n d Contamination Report
9.1

Stage 1 report is presented with the planning application. There are no significant issues.
All existing buildings will be demolished with the exception of Barns 1 and 2.

File 400408

Viability Analysis Regarding the Proposed Development at Grove Farm, Stradbroke

As at 20th December 2014

10 0 C o m m u n i t y Infrastructure Levy (CIL) and Section 106 Matters - E432,000 has been
allocated to these elements
10.1 D e t a i l e d discussions have been undertaken with the Hastoe Housing Association and an offer
in excess of E2.3 million is likely to be forthcoming for the purchase of the 27 affordable and
local needs houses.
11.0 Vi a b i l i t y Analysis
11.1 W e have undertaken an appraisal of comparable sales and are of the opinion that the market
value of the development (le the 54 dwellings) is in excess of E9,115,000.
11.2 W e have assumed that a developers return will be in the region of 18 to 20% on the capital
employed.
11.3 T h e landowner should receive a land value on sale in line with market expectations.
12.0 Conclusion
12.4 I n our opinion the development is economically viable as the developer will receive a suitable
return on their capital and the land owner a suitable return on the land sale.
11.5 T h e figures on which the analysis is based can be made available on a confidential basis. All
cost estimates are prepared within the time and cost restraints inevitably imposed at this stage
of the proposal.

13.0 Declaration
12.1 T h e owners have confirmed their intention to sell the site once planning permission has been
secured.
12.2 I t has been demonstrated with the information available at this time that the owners have the
ability to develop the land from an economic and practical viewpoint.

Durrants Chartered Surveyors

Harleston, Norfolk

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