Madison Thomas MSc MRICS Registered Valuer

Director

Madison has worked with BPS for 7 years during which time she has been involved in a number of major regeneration projects across Greater London and the Home Counties. She has also led a number of the company’s major projects including at appeal.

She is highly proficient in financial viability and the preparation of development appraisals, and during her time at BPS has worked on schemes ranging in scale from small developments of sub 10 units to large complex multi-phased developments of several thousand units.

Madison has wide experience of both commercial and residential developments and has appraised a variety of development types including build to rent, purpose built student accommodation, retirement and co-living. She also has experience advising on a number of enabling developments, major greenfield developments, town centre and estate regenerations.

Madison, alongside Clare, leads the companies’ member and officer training and regularly runs tailored sessions to our valued clients.

Madison Thomas

07899 269623

madison@bps-surveyors.co.uk

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Notable Projects

Bankside House – Southwark

Madison advised the London Borough of Southwark on the financial viability of the Bankside House development which is set to be one of Central London’s largest Purpose-Built Student Accommodation (‘PBSA’) schemes. The proposals include c. 2,000 student beds as well as a community hub and commercial space. The applicant made a commercial decision to offer all units at submarket rents including a proportion at affordable rent levels as defined by the London Plan. As part of her independent review, Madison assisted planning officers in their decision-making process by assessing the impact of this offer on the overall viability of the development and calculating its equivalency to an overall percentage of affordable delivery at London Plan rent levels.

Alton Estate – Richmond and Wandsworth

Madison provided the London Boroughs of Richmond and Wandsworth with an independent review of the financial viability of the development known as ‘Block A’ which forms part of the wider Alton Estate Renewal Plan. The Alton Estate is one of the UK’s largest council housing estates, and this scheme, led by the Council, will see the demolition of derelict buildings at the entrance to the estate to provide new social rent homes and community facilities. Madison provided independent viability advice to the Council, particularly with regard to the impact of grant funding on the deliverability of the project.

Oracle Shopping Centre – Reading

Madison advised Reading Borough Council on the financial viability of two planning applications for a major mixed-use development at the Oracle Shopping Centre. The proposals included the redevelopment of the former Debenhams store, and Vue cinema, to deliver over 400 new residential dwellings alongside commercial floorspace and the reprovision of a cinema. Following her independent viability review, Madison worked closely with the Council to ensure that the appropriate mix and tenure of affordable homes were accommodated within the scheme and that the S106 Agreement was drafted in order that affordable rent levels could be monitored effectively overtime to ensure continued affordability.

Brentford Works – Hounslow

Madison provided an independent viability review for the London Borough of Hounslow on the Brentford Works development, Great West Road. The proposals included over 850 new homes and commercial space including a supermarket, industrial and office accommodation. Despite the challenged viability, the scheme was brought forward with an affordable housing and affordable commercial space offer. Madison provided the Council with advice on how the viability challenges may be overcome throughout the lifetime of the development and this included testing the impact of possible grant funding on the overall viability. Madison subsequently assisted the Council with the drafting of the S106 agreement with the aim of ensuring that the review mechanisms were robust and would result in an uplift to affordable delivery should the viability improve.