Financial Viability Assessment, St Giles on the Heath, West Devon

Overview

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.

Situation

The application was for an affordable-led (rural exception site) development of 16 dwellings.

Solution

Preparation of a FVA and subsequent negotiations with the Local Planning Authority (LPA).

Outcome

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 (100% – the starting point for negotiations) and agreed to have this reduced to 50%.

Key Contact

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