Vickery Holman were instructed to undertake a Financial Viability Assessment (FVA) to objectively assess and report upon, the financial viability of a proposed residential development, taking into consideration policy requirements as set out by Cornwall Council.
The application was for a market-led development of 58 dwellings, plus provision for a new primary school.
Preparation of a FVA and subsequent negotiations with the Local Planning Authority (LPA).
Vickery Holman were successful in demonstrating to the LPA that the development was not capable of being delivered with the required policy level affordable housing (30%) and agreed to have the obligation removed in full, resulting in an indicative saving of £2m.
