BPS have been instructed on many major schemes across London and the rest of the UK, in addition to schemes of all sizes and types. In the last 3 years, we have provided advice in relation to over 600 instructions with an aggregate development value running to several billion. Below is a small selection of recent instructions:
Aylesbury Garden Town – Buckinghamshire Council:
BPS advised Buckinghamshire Council on the financial viability of an outline planning application for a strategic site allocated for up to 1,490 residential dwellings and associated major infrastructure.
The viability assessment process was complex due to the outline nature of the application and given that the housebuilders were unknown at the date of submission, therefore impacting the level of detail available at the application stage. We provided guidance to the Council on how to best deal with the challenges presented by establishing viability at such an early stage in the process. We provided a thorough viability assessment of the proposals, scrutinising the crucial inputs impacting on viability such as land value, infrastructure costs and delivery programme.
Barnsbury Estate – London Borough of Islington
BPS have advised the London Borough of Islington on the financial viability of proposals to redevelop the Barnsbury Estate. The scheme is one of Islington’s most significant housing projects in decades, delivering 1,116 new homes, including replacement and additional social rented tenure homes. The scheme will also deliver new public realm, and commercial and community uses.
BPS carried out a robust review of the financial viability and worked closely with officers to ensure that a balance was struck between the viability challenges of the development and the delivery of public benefits, including an increase to affordable housing delivery above the reprovision of existing social rent homes. BPS assisted the Council at Planning Committee and with the subsequent drafting of the S106 Agreement.
Earls Court Regeneration – London Borough of Hammersmith and Fulham
BPS advised the London Borough of Hammersmith and Fulham on the financial viability of this landmark development. The element of the scheme within the Council’s boundary comprises c.2,000 new residential dwellings including 35% affordable housing, c.124,000 sqm of commercial floorspace, and c.700 bed purpose-built student accommodation.
The application was part detailed and part outline, allowing for some flexibility in regard to quantum, uses and tenures to be delivered in latter phases. As a result, we appraised a number of schemes in order that the viability was assessed on different bases, including crucially that claimed to reflect the maximum development parameters the consent would permit. We therefore provided the Council with a range of viability outcomes which ensured a full and transparent assessment of the scheme’s ability to deliver planning contributions. We further advised the Council regarding the drafting of the s106 Agreement.
Hanworth Park House – London Borough of Hounslow
BPS advised the London Borough of Hounslow on this enabling development of 300 new residential homes and the refurbishment and conversion of the historic, Grade II listed Hanworth Park House. Hanworth Park House had fallen into disrepair, requiring substantial restoration works. The application sought to deliver new residential development to enable the restoration of the property, bringing it into community use to be let predominantly to the Council at a nil rent into perpetuity.
We provided advice to the Council over a number of years as the application evolved. We ensured crucially that the approach taken to assessing viability followed that set out in guidance by Historic England, which requires a different methodology to the more conventional approach to viability assessments. We assessed the heritage deficit and funding generated from the residential led enabling development to ensure that the heritage deficit was not only met but that, on balance, the enabling development was of the appropriate size required to cover the deficit.
Local Plan & CIL Viability Assessment – Reading Borough Council
BPS viability tested the proposed planning obligations identified within the Reading Borough Local Plan (Partial Update) Pre-Submission. Sites identified and tested included windfall site completions as well as data in respect of proposed and allocated sites along with information from Annual Monitoring Reports. Our review made it apparent that a significant proportion of the land supply was viable at policy compliance and only relatively small changes were needed to bring more than 50% of sites into full viability.
BPS also helped formulate the Borough’s CIL charging schedule and this led to a review of the Council’s affordable housing policies. We provided the viability evidence in support of both policies and helped lead the consultation exercises with the public and interested parties. BPS then supported the council to defend the plan at inquiry.
Brewery Quay, Salcombe – South Hams District Council and West Devon Borough Council
BPS provided viability evidence for the Councils at appeal APP/K1128/W/24/3355774. The site had been developed and completed to provide commercial space and four flats. Under the original consent, the flats were required to be sold only to purchasers who would use them as their principal residence. The appeal application sought to exclude this condition but was otherwise identical. It was argued that inclusion of this provision would make the development non-viable.
The Inspector granted the consent but considered the principal residency condition should still be included. It was considered that the condition was known at the point the original consent had been granted and it was not the role of the Planning System to insulate the developer from realised development risk. The principles underpinning this decision have considerable implications for part built and built developments where viability is under consideration.
Valuations, Property Disposals and Asset Management – Guildford Borough Council
BPS have been providing ongoing valuation and asset management advice to Guildford Borough Council. This has involved providing valuation and disposal advice relating to a number of properties within the Council’s ownership. Recent instructions include valuations of the Council’s community assets and advice relating to their disposal.
We have also been providing the Council with advice on several long leasehold restructures within their industrial and commercial property portfolio, which have included marriage value calculations and leading subsequent negotiations with leaseholders.
Woolwich Island Site – Royal Borough of Greenwich
BPS provided viability advice to the Council on a mixed use application including 494 co living units and 20 social rented units. We were able to challenge a number of the applicant’s viability assumptions and following our involvement, a £5 million offsite contribution towards affordable housing was secured. We further advised on a social rent equivalency proposal under the GLA emergency measures and helped the council to secure early and late-stage reviews in the S106 agreement.
Waitrose Bromley South – London Borough of Bromley
BPS acted as independent viability assessors for the Council at pre-application and application stage. We provided advice on the financial viability of the proposed scheme which included 355 build to rent units. The scheme also included 30 affordable homes and allowed for reconfiguration and refurbishment of the existing supermarket at ground floor level. The scheme was granted permission in August 2024, although we understand development plans are now on hold for operational and market led reasons.
Amelia Street – London Borough of Southwark
BPS provided viability advice to the Council for a mixed use application including 146 bed purpose built student accommodation element. We disagreed with several points in the applicant submission, including gross development value and benchmark land value, which led us to conclude that the scheme made a greater surplus than that claimed. The Applicant had initially offered a PiL of £2 million, and following our review the offer was increased to £5 million. The scheme was consented on this basis in February 2024.
The Woodspring, 238 High Street – North Somerset Council
BPS were brought in to advise the council at appeal for this 10 unit residential scheme on the site of a former public house. Following an earlier refusal, including on grounds of failure to provide a contribution to affordable housing, we prepared written representations on behalf of the council. We contested the appellant position on the grounds of several viability inputs, presenting the necessary explanations and evidence to the Inspector. The appeal was dismissed.