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School land. Describe the current site

3 bed 2 storey brick build detached house constructed in the 50’s with an open gable roof and part white rendering to the brick work

No planning had yet to be agreed


School land, what approaches did you use

existing use value of the dwelling and sale of land whilst the other method was based on development value of the whole site


School land. What development did you assume

- By looking at other schemes in the area I was able to assume a 14 unit scheme could be realised for the site.


School land. What residual value did you have

This gave a proposed residual value of £800,000 for the land and £550,000 for the domestic dwelling


School land. What were the external cost, contingency, demolition costs and developers profit assumed

Externals were valued at 15% which reflected the number of large trees on the site which could cause issues

Standard contingency of 5%

Demolition costs of £25,000 (£10,000 per storey)

20% developers profit for the scheme as it was small scale and therefore reflected risk


Reading office. What figures were considered

- Yields for Reading are 5% and rental value is typically £37.5 per sq/ft for grade A space. 4% yield for reversion due to covenant strength and secured lease. Reversion at 6.5% to reflect the risk of finding a new tenant and letting grade B space


How did you reflect blight

Through comparables. In instances where blight could not be found a backstop figure of 10-15% was used which had been based on analysed sales evidence