Our team of development surveyors specialise in the preparation of financial viability assessments to support planning applications and Local Plans, as well as the review of assessments to determine the level of affordable housing.
Carter Jonas’ planning and development team specialises in the preparation of financial viability assessments (FVAs) for both private and public sector clients seeking to challenge or maintain the prescribed policy levels of affordable housing.
We act for a large number of clients across England on a multitude of different sites ranging from small schemes of 11-20 homes to major high-rise developments in London, or Garden Villages with thousands of homes.
Financial viability in planning is becoming increasingly complex, with the introduction of more affordable housing tenures (such as First Homes), rental products and new policy and guidance, including potential legislative changes to the Community Infrastructure Levy.
Further, with the rise of ‘generation rent’ and an increasing variety of products including build to rent, co-living schemes and assisted living, planning authorities may now have to assess the viability of projects which have a wider range of viability characteristics.
The team works closely with our in-house Affordable Housing Team, which has the latest knowledge on the changing affordable housing tenure products, policy requirements, demand from Registered Providers and affordable values.
HOW CAN CARTER JONAS HELP SUPPORT YOUR FINANCIAL VIABILITY CASE?
Whether you wish to challenge the proportion or tenure split of affordable housing, or you require an independent review of a financial viability assessment, Carter Jonas has the team to prepare the necessary reports for the planning application and subsequent response notes and rebuttals. In addition, Carter Jonas provide advice on the review mechanisms for s.106 agreements.
In London, we have particular knowledge and expertise in liaising with the Greater London Authority’s Viability Team on referable planning applications.
The time to secure agreement on a FVA can be lengthy, especially for large, complex schemes. Sometimes, this can lead to planning appeals, and again Carter Jonas can provide the necessary documentation to support the appeal process.
Carter Jonas can also support you in the preparation of evidence for Local Plan Reviews and Local Plan Examinations, where you are seeking to secure a site allocation.
Financial viability services
Carter Jonas provide the following financial viability services:
- Preparation of financial viability assessments, including Benchmark Land Values on behalf of Applicants;
- Reviewing FVAs on behalf of local planning authorities;
- Undertaking negotiations;
- Liaising with the Greater London Authority;
- Providing expert advice for planning appeals;
- Liaising with solicitors in relation to review mechanisms; and
- Preparing evidence for Local Plan Reviews and Examinations.
WHY CHOOSE CARTER JONAS TO SUPPORT YOU?
Our team has access to the latest evidence in terms of residential and supporting commercial values, particularly the modelling of accurate affordable housing values.
We have considerable knowledge of assessing both greenfield and brownfield Benchmark Land Values, either on an Existing Use Value plus landowner premium basis or Alternative Use Value.
Our experience of negotiating for both private sector and public sector clients provides insight into the viability process and procedures.
Carter Jonas is on a wide range of public sector panels, including the national Homes England Property Panel, CCS Estates Professional Services and ESPO frameworks.