CD383-CIL-Viability-Assessment.pdf - Buckinghamshire Council

D|S|P Housing & Development Consultants

Wycombe District Council

Community Infrastructure Levy

Viability Assessment Ref: DSP 11023

November 2011

Dixon Searle LLP

The Well House

28D Headley Road

Grayshott

Hindhead

GU26 6LD

www.dixonsearle.co.uk

Wycombe District Council - CIL Economic Viability D|S|P Housing & Development Consultants

Wycombe District Council – CIL Viability Assessment (Ref. No. DSP11023) i

Contents

Introduction 1 Assessment Methodology 5 Findings 30

Figures

Figure 1: Simplified Residual Land

Valuation Principles

Figure 2: Relationship between RLV

& Potential Maximum CIL

Rate

Figure 3: Residential Scheme Types

Figure 4: Residential Unit Sizes

Figure 5: Commercial Scheme Types

Figure 6: Residential Values

Figure 7: Land Registry Average

House Prices

Figure 8: Rental Value for

Commercial Schemes

Figure 9: Build Cost Data

Figure 10: Build Period

Figure 11: Other uses – example

value/cost relationships


Wycombe District Council – CIL Viability Assessment (Ref. No. DSP11023) ii

Figure 12: CIL charging trial rates as %

of Gross Development

Value - Residential


of Gross Development

Value – Commercial


of Build Cost – Residential


of Build Cost – Commercial


of Total Development Cost

– Residential


of Total Development Cost

– Commercial

Figure 18: Residential CIL trial rates -

Charge per Dwelling

Equivalent

Figure 19: Commercial CIL trial rates -

Charge per Dwelling

Equivalent


Wycombe District Council – CIL Viability Assessment (Ref. No. DSP11023) iii

Appendices

Appendix I:

Assumptions outline

Appendix IIA:

Residential Results Summaries

Appendix IIB:

Commercial Results Summaries

Appendix III:

Market, Values and Assumptions –

Research and Background


Wycombe District Council – CIL Viability Assessment (Ref. No. DSP11023) iv

Executive Summary

1. The Community Infrastructure Levy has been introduced by the Government as a

means of Local Authorities pooling development contributions to help fund the

provision of the local infrastructure needed to support the planned growth in their

area. By 2014 it will largely, though not entirely, replace s.106 as a means of

securing such contributions (after then, pooling of s.106 contributions to fund

wider infrastructure provision) will be limited).

2. The CIL will be chargeable on a per square metre (sq m) basis; on all new

development exceeding 100 sq m (including extensions) and including new

dwellings of less than 100 sq m. Affordable housing and developments by charities

will not be subject to CIL. Subject to certain rules, the CIL will not apply to any

existing accommodation on a development site (whether demolished or reused) –

that floor area will be deducted from the chargeable development within the

charging calculation.

3. In the process of considering its local implementation of the CIL, Wycombe District

Council appointed Dixon Searle Partnership (DSP) to review the scope for a range

of development types (residential and commercial / non-residential) to support

CIL funding in the District.

4. The purpose of this resulting study is to inform the Council’s consideration of

proposed CIL charging rate(s) in the District, by use type and potentially also by

locality – depending on viability, varying charging rates may be set. In setting rates

that strike an appropriate balance between contributing to local infrastructure

funding needs (the funding gap) and development viability, Local Authorities also

consider a wide range of other information - including on site supply and the

relevance of various development types to their area.

5. The study involved key stages of research, assumptions setting, carrying out a

wide range of appraisals and review. The appraisals used residual land valuation

principles, as have become the main established approach to this type of study.

6. For residential development suitable parameters for CIL charging were found to

be in the range £100 - £150 / sq m. More detailed review of the findings suggests

options to set either a single charging rate across District at £125/sq m; or set a

dual rate with a second, higher, charging level at £150/sq m applicable to the


Wycombe District Council – CIL Viability Assessment (Ref. No. DSP11023) v

higher value areas of the District where stronger viability outcomes are generally

seen. We consider that the latter approach would better respect the housing

values patterns in the District, whereby and the NW-SE “central axis of the

District” - through and including the town of High Wycombe - would be best

served by the lower of these potential rates (£125/sq m).

7. The viability of a range of commercial / non-residential development types in the

District was found to be highly variable. However, we saw an over-riding theme

that retail related development presents the only clear scope for meaningful CIL

contributions. Respecting the balance that needs to be found, we recommend

that suitable rates for retail development are no more than £250 / sq m for large

units (supermarkets and retail warehousing) and not more than half that for

smaller scale retail developments (e.g. convenience stores and others).

8. In a wide range of other cases, it was found that CIL charging would generally

either exacerbate a lack of viability or could place added risk to development

coming forward across the District. In summary, at the current time and for the

foreseeable future we therefore recommend a nil (£0/sq m) charging rate

applicable to other uses including business development (B uses).

9. In all cases the resulting CIL charging rates are considered to represent an

appropriate balance in the local circumstances. The report includes detailed

information and commentary. It also makes associated recommendations relating

to regular monitoring and potential review of the local CIL charging regime.

Executive Summary ends.

November 2011.


Wycombe District Council – CIL Viability Assessment (Ref. No. DSP11023) 1

1 Introduction

1.1. Background – Community Infrastructure Levy and Purpose of this Report

1.1.1 The Community Infrastructure Levy (‘CIL’) came into force in April 2010 and allows

local authorities in England and Wales to raise funds from developers undertaking

new developments in their area. The levy is charged on most new developments that

involve an increase in floor space. Most developments under 100 square metres in

area will not pay the levy, for example, a small extension to a house. But

development that involves the creation of a new residential unit (such as a house or a

flat) will pay the charge, even if the unit is below 100 square metres in area. The

charge will be expressed as a rate per sq m of development. The money raised can be

spent on the infrastructure needed to support the development of the Council area

and the government will require that charging authorities allocate a meaningful

proportion of levy revenue raised in each neighbourhood back to that

neighbourhood.

1.1.2 CIL takes the form of a charge levied per square metre of net additional floorspace of

development. The levy rates will have to be underpinned firstly by evidence of the

infrastructure needed to support new development and secondly by evidence of

development viability.

1.1.3 Wycombe District Council has been working with infrastructure providers since 2008

in preparing its Infrastructure Delivery Plan to support the Wycombe Development

Framework and is updating this document following further engagement. This will

form the basis of identifying the total cost of infrastructure associated with

supporting the development plan (Core Strategy) led growth in the District; including

the element that can be funded from CIL (the infrastructure funding gap) subject also

to the scope as reviewed following viability testing.

1.1.4 Infrastructure is taken to mean any service or facility that supports the District and its

population and includes but is not limited to transport, energy, water, drainage,

waste, ITC, open space, affordable housing, education, health community services

and culture and leisure. In the case of current Community Infrastructure Levy (CIL)

scope, and therefore this assessment, affordable housing is assumed to be outside

the scope of CIL and dealt with in the established way through site specific planning

(s.106) agreements. Affordable housing has been allowed for separately, in addition

to CIL.



1.1.5 Any authority wishing to charge CIL must produce a charging schedule setting out the

levy’s rates in its area. The CIL rate or rates should be set at a level that ensures that

development within their area is not put at serious risk.

1.1.6 A key requirement of CIL and setting the charging schedule is that it should strike an

appropriate balance between the desirability of funding infrastructure from the levy

and the potential effects that imposing the levy may have upon the economic

viability of development. In order to meet the requirement of Regulation 14 of the

CIL Regulations April 2010 (as amended) the Council therefore appointed

consultants, Dixon Searle Partnership, to provide the evidence base to inform the

development of and support the Council’s draft charging schedule in viability terms.

1.1.7 This study investigates the potential for charging CIL by showing the likely impact on

the economic viability of residential and non-residential development scenarios

across Wycombe District. It aims to provide the Council with advice as to the likely

viability of seeking developer contributions towards infrastructure in the form of CIL

charging; including the viability considerations and potential rate or rates at which

that can be set in the local context.

1.1.8 The approach taken in this study follows the well recognised methodology of residual

land valuation. Put simply the residual land value produced by a potential

development is calculated by subtracting the costs of achieving that development

from the revenue generated by the completed scheme (the gross development value

– ‘GDV’).

1.1.9 The residual valuation technique has been used to run appraisals on both residential

and non-residential scheme typologies (notional or hypothetical schemes) that are

likely to come forward across the Wycombe District area. The residual values

generated for the purposes of this study and for indicating the potential viability of a

scheme need exceed an existing or alternative use value (‘EUV’ or ‘AUV’) whilst at the

same time contributing towards the Community Infrastructure Levy. In considering

the relationship between the land value created by a scenario and some comparative

level that might need to be reached, we have to acknowledge that in practice this is a

dynamic one and can be highly variable. It is not an exact science, as is acknowledged



in a range of similar work and in technical papers and guidance notes on the topic of

considering and assessing development viability. Therefore, so as to inform our

judgments in making this overview, our practice is to look at a range of potential land

value levels that might need to be reached in various scenarios.

1.1.10 The potential level of CIL charge viable in each scenario has been varied through an

iterative process exploring trial rates of between £0 and £250 per square metre; with

an indication given also of the potential maximum CIL level that could theoretically

be achieved where it is outside these parameters.

1.1.11 The results of each of the appraisals are compared to a range of potential existing or

alternative use value benchmarks or other guides relevant to the circumstances - to

determine the potential scope for various CIL rate contributions according to

development type and with varying completed scheme value levels (GDVs). The

results sets have been tabulated in summary form and those are included as

Appendices IIA (residential) and IIB (commercial) to the rear of this document.

1.1.12 In considering the potential charging rates we have also considered the results

alongside a variety of additional measures for reviewing the scale of the potential CIL

rates. This includes reviewing the potential CIL rates in terms of percentage of

development cost, percentage of development value; and the equivalent sum in £s

per unit or by scheme total. All of these areas help us and the Council to consider the

likely proportional effects and the level of CIL that could reasonably be expected to

be charged on development without putting it at unduly at risk across Wycombe

District; i.e. as part of finding the right balance between infrastructure funding needs

and the viability of development in the Council’s area.

1.1.13 The report then sets out findings for Wycombe District Council to consider in taking

forward its further development work on the local implementation of the CIL and in

particular the Council’s Draft Charging Schedule (focussing on the conclusions, allied

to a range of results and other indications as discussed and set out in the

Appendices).



1.2 Notes and Limitations

1.2.1 This study has been carried out using well recognised residual valuation techniques

by consultants highly experienced in the production of strategic viability assessments

for local authority policy development.

1.2.2 In order to carry out this type of study a large quantity of data is reviewed and a

range of assumptions are required alongside that which rarely fits all eventualities -

small changes in assumptions can have a significant individual or cumulative effect on

the residual land value generated and / or the value of the CIL funding potential.

1.2.3 It should be noted that in practice every scheme is different and no study of this

nature can reflect the variances seen in site specific cases.

1.2.4 Specific assumptions and values applied for our schemes are unlikely to be

appropriate for all developments and a degree of professional judgment is required.

We are confident, however, that our assumptions are reasonable in terms of making

this viability overview and informing the Council’s work on its CIL preliminary draft

charging schedule preparations.



2 Assessment Methodology

2.1 Residual Valuation

2.1.1 This study investigates the potential for a range of development types to contribute

to infrastructure provision funding across Wycombe District through the collection of

financial contributions charged via a Community Infrastructure Levy.

2.1.2 In order to do this we have run development appraisals using the well recognised

principles of residual valuation on a number of notional scheme types, both

residential and non-residential/commercial.

2.1.3 Residual valuation as the name suggests provides a “residual” value from the gross

development value (GDV) of a scheme after all other costs are taken into account.

The diagram below shows the simplified principles behind residual valuation:

Figure 1: Simplified Residual Land Valuation Principles



2.1.4 Having allowed for the costs of development, finance and profit, the resulting figure

indicates the sum that is potentially available to pay for the land.

2.1.5 In order to guide on a range of likely viability outcomes the assessment process also

requires a benchmark, or range of benchmarks of some form, against which to

compare the resulting residual value (‘RLV’) - such as an indication of existing or

alternative land use values (‘EUVs’ or ‘AUVs’) relevant to the site use and locality;

including any potential uplift required to encourage a site to be released for

development (which might be termed a premium, over-bid, incentive or similar).

Essentially this means taking an appropriate high level view around the potential

level(s) that land value may need to reach in order to drive varying prospects of

schemes being viable.

2.1.6 The level of land value sufficient to encourage the release of a site for development is

in practice a site specific and highly subjective matter. It often relates to a range of

factors including the actual site characteristics and the specific requirements or

circumstances of the landowner. Therefore indications of land values using sources

such as the Valuation Office Agency (VOA) reporting, previous evidence held by the

Council and any available sales evidence have been used for this purpose in making

our assessment. Recently there has been a relatively low level of activity on land

deals and consequently there has been very little to go on in terms of examples; the

range of reporting mentioned above has to be relied upon to inform our assumptions

and judgments. This is certainly not just a Wycombe District factor, but one that we

are typically experiencing in carrying out these types of studies. In assessing results,

the surplus or excess residual (land value) remaining after these indicative land value

comparisons is shown as the margin potentially available to fund CIL contributions.

2.1.7 From an overview of those relationships, in the context of the range of wider

assumptions within particular scenarios, we can see results trends – deteriorating

RLV and therefore viability outcomes as scheme value (GDV) decreases; and / or

costs rise – e.g. through adding/increasing affordable housing, increasing build costs

(e.g. with varying commercial development types) and increasing “trial” CIL rates.

Any potential margin (CIL funding scope) is then considered in the round so that

charging rates are not pushed to the limits but also for some other scope to support



viability given the range of costs etc that could move around. In essence, the steps

taken to consider that potential margin or surplus are as follows:

Figure 2: Relationship Between RLV & Potential Maximum CIL Rate (surplus or margin

potentially available for CIL)

2.1.8 The assumptions that go into the residual land value appraisals are set out in more

detail in this chapter. Further information is also available at Appendices I and III.

They reflect the local market (through research on local values, costs and types of

provision, etc) and locally relevant planning policies (taking into account the policies

set out within the Wycombe District Council adopted Core Strategy1) as well as other

practical delivery aspects locally.

2.2 Site Typologies / Notional Site Types

2.2.1 Appraisals using the principles outlined above have been carried out to review the

viability of different types of residential and commercial developments. The

scenarios were developed and discussed with the Council following a review of

information it provided; such as the Council’s monitoring database and Strategic

1 Wycombe District Council – Wycombe Development Framework Adopted Core Strategy (July 2008)



Housing Land Availability Assessment (SHLAA) data in the case of the residential

scenarios. It was necessary to determine scenario types likely to come forward across

the District. The scheme types were then proposed to and agreed with the Council as

reasonably representative for the purposes of this high level overview viability

assessment.

2.2.2 For residential schemes, six scenarios were tested with the following mix of units and

including integrated affordable housing (where required by and in accordance with

the Council’s policy):

Figure 3: Residential Scheme Types

Scheme Type Overall Scheme Mix

1 House 1 x 4BH

4 Houses 2 x 2BH; 2 x 3BH

14 Mixed 2 x 1BF, 3 x 2BF; 2 x 2BH, 5 x 3BH, 2 x 4BH




Note: BH = bed house; BF = bed flat

2.2.3 The unit mixes were again based on information provided by the Council and reflect a

range of different types of development that could come forward regularly across the

District so as to ensure that viability has been tested with reference to the ongoing

housing supply themes and policies. Each scheme type was also tested over a range

of value levels representing varying residential values seen currently across

Wycombe District and also allowing us to consider the impact on development

viability of changing market conditions over time.

2.2.4 As above, a key area of the assumptions setting for the residential scenarios was to

reflect the Council’s Core Strategy policies, including on affordable housing. Those

policies require affordable housing on sites of 15 or more units in the High Wycombe

Urban Area, Marlow and Princes Risborough; and on developments of 5 or more

units in the remainder of the District. The Council requires 40% affordable housing on

greenfield sites and sites that were last used for business (“B-class use” or similar sui-

generis employment generating use). On other sites, 30% affordable housing is

required. The affordable housing requirements are based on percentages of bed



spaces within a development, not numbers of units. The scheme typologies applied

in this study reflect those policies and full details of the private and affordable

housing numbers assumed within each scheme scenario can be seen in Appendix I –

Assumptions Spreadsheet.

2.2.5 The unit sizes assumed for the purposes of this study are as follows:

Figure 4: Residential Unit Sizes

Unit Sizes (sq m) Affordable Private

1-bed flat 50 45

2-bed flat 67 60

2-bed house 75 75

3-bed house 85 95

4-bed house 110 125

2.2.6 As with many areas of the study assumptions there will be a variety of dwelling sizes

coming forward in practice, varying by scheme and location. No single size or even

range of assumed sizes will represent all dwellings coming forward. Since there is a

relationship between dwelling sizes, their values and their build costs, it is the levels

of those that are most important for the purposes of this study (i.e. expressed in £ sq

m terms); rather than the specific dwelling sizes to which those levels of costs and

values are applied. With the approach, the indicative ‘Values Levels’ (‘VL’s) used in

the study can then be applied to varying (alternative) dwelling sizes. The approach to

focus on values and costs per sq m also fits with the way developers tend to price

and assess schemes; and is consistent with CIL principles. It provides a more relevant

context for considering the potential viability scope and the also, purely as an

additional measure, reviewing the potential CIL charging rate outcomes as

proportions of the schemes values and costs.

2.2.7 The unit / development sizes indicated are gross internal areas (GIAs). They are

reasonably representative of the type of units coming forward for smaller and

average family accommodation, within the scheme types likely to be seen most

frequently providing on-site integrated affordable housing. We acknowledge that

these 3 and 4-bed house sizes, in particular, may be small compared with some

coming forward. All will vary, and from scheme to scheme. However, our research

suggests that the values (£ sales values) applicable to larger house types would



generally exceed those produced by our dwelling size assumptions and would be

similarly priced in terms of the relevant analysis – i.e. looking at the range of £ per sq

m ‘Value levels’ basis. In summary on this point, it is always necessary to consider the

size of new build accommodation in looking at its price. The range of prices

expressed in £s per square metre is the therefore the key measure used in

considering the research, working up the range of values levels for testing; and in

reviewing the results.

2.2.8 In the same way, the Commercial scheme scenarios were developed through the

review of information supplied by, and through Consultation with, the Council;

supplemented with and checked against wider information. The following sets out

the various notional scheme types modelled for this study, covering a range of uses

in order to test the impact on viability of requiring CIL contributions from key types of

commercial development considered likely to be relevant in the District:

Figure 5: Commercial Development Types

Development Type Example Scheme Type(s) GIA

(m²)

Site

Coverage

Site

Size

(Ha)

Large Retail -

supermarket

Large Supermarket – edge of/out of

town 4000 35% 1.14

Large Retail – retail

warehousing

Retail warehouse – various locations.

Could also include smaller

supermarkets.

1000 40% 0.25

Small Retail –

convenience store (to

include comparison,

A1-A5)

Convenience Store - various

locations. Also includes food and

drink, financial services.

300 60% 0.05

Business development

- B1(a) Offices

- Town Centre

In town Office Building 1000 200% 0.05


- B1(a) Offices

Business Park

Edge of town Office Building 3000 40% 0.75


B1 , B2, B8 - Industrial

/ Warehousing

Move-on type industrial unit

including offices - industrial estate

(also office uses in industrial estate

type buildings and locations)

500 40% 0.13




B1, B2, B8 - Industrial /

Warehousing

Larger industrial / warehousing unit

including offices - industrial estate 3000 40% 0.75

Hotel

(budget - 120 rooms)

Hotel - edge of town centre / edge of

town 3000 50% 0.60

Residential Institution

- Care home Nursing Home 2100 60% 0.35

D1/D2 - Institutional /

Community / Health Clinic or similar 500 40% 0.13

Leisure (D2) Fitness centres, bowling, etc 2500 50% 0.50

2.2.9 Although highly variable in practice, these types and sizes of schemes are thought to

be reasonably representative of a range of commercial scheme scenarios that could

come forward in Wycombe District. As in respect of the assumptions for the

residential scenarios, a variety of local development industry stakeholders including

property agents, developers and their planning agents / advisers were contacted and

invited to supply any readily available market information, guides or particular

examples; including on values, land values and other development appraisal

assumptions. Again, as part of assembling and reviewing assumptions, we were also

in contact with staff from the Council’s major projects and property section, together

with planning staff with employment sites knowledge and experience. Alongside

seeking and, to varying degrees receiving, soundings from a range of sources such as

these, DSP used information sourced from Estates Gazette Interactive (EGi), the VOA

Rating List and Wycombe DC / Invest in Bucks website resources. Further

information is provided within Appendix III to this report.

2.2.10 The site coverage percentages indicated in Figure 5 are based on information

provided by and discussed with the planning staff from their local knowledge and

records, as supplemented / verified by local development examples and case studies

from our research where possible. Additional information included articles and

development industry features sourced from a variety of construction related

publications; and in some cases property marketing details. Collectively, our research

enabled us to apply a level of “sense check” to our proposed assumptions. Appendix

III outlines the range of information considered.

2.2.11 In addition to testing the commercial uses of key relevance above, further

consideration was given to other uses that may potentially come forward across the



District. These include, amongst others, non-commercially driven facilities

(community halls, medical facilities, schools, etc) and other commercial uses such as

motor sales, garages / depots / workshops, agricultural storage, surgeries / similar,

and day nurseries.

2.2.12 Clearly there is potentially a very wide range of such schemes that could come

forward. Alongside their viability, it is also relevant for the Council to consider the

frequency and distribution of these; and their role in the delivery of the development

plan (Core Strategy). For these scheme types, as a first step it was possible to review

in basic terms the key relationship between their completed value per square metre

and the cost of building.

2.2.13 Where quickly it can be seen that the build cost (even before all other costs such as

finance, fees, profits, purchase and sale, etc are allowed for) outweighs or is close to

the completed value, it becomes clear that a scenario is not financially viable in the

usual development sense being reviewed here and related to any CIL contributions

scope. We are also able to consider these value/cost relationships alongside the

range of main appraisal assumptions and the results that those provide. This

amounts to adding iteratively to the picture seen from those main assumptions and

appraisals, whereby a further deteriorating relationship between values and costs

provides a clear picture of further reducing prospects of viable schemes in this sense.

This starts to indicate schemes that require other support rather than being able to

produce a surplus capable of some level of contribution to CIL.

2.2.14 Through this iterative / exploratory process we could determine whether there were

any further scenarios that warranted carrying out additional viability appraisals.

Having explored the viability trends produced by examination of the cost/value

relationships we found that in many other cases, completed scheme values were at

levels insufficient to cover development costs and thus would not support any level

of CIL, certainly not on any regular basis. Through this process and linking it in to our

continual contact with Council officers, collectively we considered there to be two

further commercial scenarios that could be significantly relevant in the District to

warrant consideration alongside (akin to) retail uses, potentially occurring in edge of

town / industrial or retail park type locations. These were reviewed, having the

potential to be viable so as to potentially support CIL contributions.



2.2.15 Further information on this section of the review process is provided within the

findings commentary in Chapter 3.

2.3 Gross Development Value (Scheme Value; ‘GDV’) - Residential

2.3.1 For the residential scheme types modelled in this study a range of (sales) value levels

have been applied to each scenario. As mentioned previously, this is in order to test

the scope for and the sensitivity of scheme viability to the requirement for a range of

potential CIL rates; potentially including geographical values variations and / or with

changing values as may be seen with further market variations. As above, the trial CIL

rates were explored iteratively. This involved increasing the trial rate applied to each

scenario, over a scale up to £250/sq m, so that we could consider the ability of

schemes of varying values to support, or not, CIL contributions at various potential

rates.

2.3.2 We carried out our own desktop and on the ground research on residential values

across Wycombe District. In addition, it is always preferable to consider a range of

information so as to look for common themes and pointers. Therefore we also used

existing information for example contained within the Council’s Delivery and Site

Allocations DPD Viability Assessment2, Buckinghamshire Strategic Housing Market

Assessment3; and from sources such Land Registry data, VOA and previous study

assessments by the DVS arm of the VOA as well as various consultants.

2.3.3 A framework needs to be established for gathering and reviewing property values

data. Our first stage desktop research using online property marketing and prices

web resources - principally ‘rightmove’ - focussed on the four Local Community Areas

(LCAs) as set out in the Local Area Plans associated with the Community Strategy and

linked in to the Council’s Core Strategy DPD as a delivery and monitoring mode for a

series of objectives. These LCAs had been mapped and considered for the Local Area

Plans, with their various characteristics in mind, and it was felt that this

2 DVS – Viability Assessment – Wycombe Development Framework Delivery and Site Allocations DPD (June

2010) 3 Fordham Research – Buckinghamshire Strategic Housing Market Assessment (July 2008)



understanding or way of describing the local geography would form a sound starting

point as a framework for researching house prices – their levels and patterns across

the District. This approach was suggested, and agreed by the Council, as a relevant

and workable basis against which to begin to consider whether any significant values

variations by geography existed across the District. This in turn would then inform

any due consideration of whether, and if so how, to determine any varying “viability

zones” or similar. Open minds were kept as to whether the potential to vary CIL

charging rates by locality would be relevant, meaningful and, if so, justified, in this

District - or not. The four LCAs are: High Wycombe LCA; South West Chilterns and

Marlow; Chepping Wye Valley; Princes Risborough.

2.3.4 Following our initial research based on these LCAs, however, it became apparent that

whilst that review clearly showed a distinction in typical values levels between the

High Wycombe LCA and the other three (the former having typically lower values),

the values patterns and variations seen were not sufficiently represented by this

potential Community Areas based view alone.

2.3.5 Therefore, further research was then carried out by reference to other sources

including the type of property pricing and heat-mapping information that is available

through web-bases resources such as ‘zoopla.co.uk’, which use a combination of

Land Registry data (on sold prices) and a form of “Automated Valuation Model” to

also provide current price indications based on very large data sets and trends.

Having identified a clear scenario of typically lower values in the key urban area of

High Wycombe, this further layer of review informed more detailed discussions with

the Council’s officers, given their local knowledge and experience. With the officers

we were then able to test and consider variations on a theme which respected the

typically lower values already seen in the main urban area High Wycombe. As will be

outlined in Chapter 3, this process informed a developing view of how to most

appropriately describe and cater for the values and viability variations seen. Through

ongoing discussion and consideration of the various data and knowledge sources –

SHMA identified values patterns, LCAs based research using ‘rightmove’,

‘Zoopla’/Land Registry and local knowledge – alongside the Council considering the

likely distribution of development, this moved to a settled, evidenced view of the

variations to be respected in proposing options for the local approach to CIL charging

on residential developments.



2.3.6 The data sources behind our assumptions (including values, costs, land values, site

coverage etc) are shown in Appendix III – Background Data - and are not included in

the main part of this report. However, a summary of the values range applied for

each residential scenario (expressed as ‘Value Levels’) is shown in Figure 6 below.

Each residential scheme type was appraised at 5 value levels. These are shown as £

per sq m (sales) rates, being the key point of reference as was explained above.

Purely for the purposes of indicating what those £ per sq m values mean for the

pricing of our assumed unit sizes, those are also set out – as at Figure 6 below.

Figure 6: Residential Values

Revenue

(Sales value –

£ per sq m)

Value Level

1

Value Level

2

Value Level

3

Value Level

4

Value Level

5

£2,500 £3,000 £3,500 £4,000 £4,500

£ per sq ft

equivalent £232 £279 £325 £372 £418

Revenue (£)

Value Level

1

Value Level

2

Value Level

3

Value Level

4

Value Level

5

1-bed flat £112,500 £135,000 £157,500 £180,000 £202,500

2-bed flat £150,000 £180,000 £210,000 £240,000 £270,000

2-bed house £187,500 £225,000 £262,500 £300,000 £337,500

3-bed house £237,500 £285,000 £332,500 £380,000 £427,500

4-bed house £312,500 £375,000 £437,500 £500,000 £562,500

2.3.7 In addition to the market housing we have assumed a requirement for affordable

housing where applicable; in line with the Council’s affordable housing policies (see

above). Within the proportions (overall %s) of affordable housing, approximately two

thirds is required as “affordable rent” accommodation and one third “intermediate”

tenure (the latter usually being in the form of shared ownership or similar). This is a

fairly typical approach to targeting an appropriate affordable housing tenure mix. It

was agreed with the Council that for the “affordable” tenure the modelling should

reflect the new “Affordable Rent” product as detailed within the Homes and

Communities Agency’s (HCA) Affordable Homes Programme (2011-2015). For the

affordable housing the revenue that is assumed to be received by a developer is



based on only the capitalised value of the net rental stream (affordable rent) or

capitalised net rental stream and capital value of retained equity (in the case of low

cost/affordable home ownership – i.e. typically shared ownership). Currently the HCA

expects affordable housing of either tenure on s.106 sites to be delivered with nil

grant input; at the very least this should be the starting assumption pending any

review of viability and later funding support for specific scenarios / programmes. We

have therefore made no allowance for grant.

2.3.8 The value of the affordable housing (level of revenue received for it by the

developer) is variable by its very nature. We consulted with locally active Registered

Providers (‘RP’s) to allow us to further test our judgments on the potential level of

receipt a developer could expect to receive for both Affordable Rented and Shared

Ownership tenures. We undertook not to disclose specific information and therefore

consolidated the data in order to inform an average/overall view of the inevitably

varying responses and indications. The resulting revenue indications were reviewed

in the context of our extensive experience in dealing with affordable housing policy

development and site specific viability issues (including specific work on affordable

rents for other authorities); together with trials using the HCA’s Development

Appraisal Tool (‘DAT’) which can be used to calculate affordable housing revenue. It

was decided to base our revenue assumptions on the average percentage of market

(sales) value (‘MV’) generated for both Affordable Rent and Shared Ownership; and

to apply those within our viability appraisals. Figure 7, below, provides an overview

of this process.

2.3.9 For affordable rented properties the assumption has been made that the Local

Housing Allowance (LHA) levels will act as an upper level above which rents will not

be set (i.e. that they represent 80% of market rent including service charge). This is to

ensure that the percentage of MV figure does not reach a point that in practice

would be unaffordable or impractical. In practice, the values generated could be

dependent on property size and other factors including the RP’s own development

strategies and therefore would vary from case to case when looking at site specifics.

The RP may have access to other sources of funding, such as related to its own

business plan, funding resources, cross-subsidy from sales/other tenure forms,

recycled capital grant from stair-casing receipts, for example, but such additional

funding cannot be regarded as the norm for the purposes of setting viability study



assumptions – it is highly scheme dependent and variable and so has not been

factored in here



Figure 7: Average (affordable housing) Revenue Data Supplied by RP Respondents

Unit Type Ave. Unit Size (m²)

Ave. MV (£)

Ave. MR (£/week)

Ave. AR (£/week)

Ave. AR Offer (£)

Ave. SO Offer (£)

Ave. MV (£/m²))

Ave. AR Offer(£/m²)

Ave. SO Offer(£/m²)

Ave. % MV - AR

Ave. % MV - SO

1bf (2p) 49.86 £151,000 £141 £109 £85,698 £98,824 £3,028 £1,710 £1,991 57% 65%

2 bf (4p) 67.55 £182,500 £177 £137 £110,686 £126,712 £2,702 £1,635 £1,875 60% 69%

2bh (4p) 75.4 £221,000 £197 £153 £123,291 £144,456 £2,931 £1,636 £1,916 56% 66%

3bh (5p) 85.26 £280,200 £234 £184 £148,070 £169,849 £3,286 £1,737 £1,993 53% 60%

4bh (6p) 105.4 £346,250 £318 £247 £192,428 £212,619 £3,285 £1,833 £2,016 56% 62%

Overall N/A N/A N/A N/A N/A N/A £3,047 £1,708 £1,959 53% 65%

Notes: ‘AR’ = Affordable Rent ‘MR’ = Market Rent ‘SO’ = Shared Ownership ‘MV’ = Market Value



2.4 Gross Development Value (Completed Scheme (capital) Value) - Commercial

2.4.1 The value (GDV) generated by a commercial or other non-residential scheme varies

enormously by type of specific type of development and location. In order to

consider the viability of various commercial development types a range of

assumptions needed to be made with regard to the rental values and yields that

would drive the levels of completed scheme values that would be compared with the

various development costs to be applied within each commercial scheme appraisal.

Broadly the commercial appraisals process follows that carried out for the residential

scenarios, with a range of different information sources informing the values

(revenue) related inputs. Data on yields and rental values was from a range of

sources including the VOA, EGi, consultation and a range of development industry

publications and features. As with the residential information, Appendix III sets out

more detail on the assumptions background for the commercial schemes.

2.4.2 Figure 8 below shows the range of rental values assumed for each scheme type; for

capitalisation based on associated yield assumptions to provide a Gross Development

Value for each scheme; dependent on the combination of yield and rental value

indications applied. The rental values were tested at varying levels and are

representative of low, medium and high rental values assessed as relevant for each

commercial scheme type in the District. These were assumed for new builds,

consistent with the nature of the CIL regulations in that refurbishments / conversions

/ straight reuse of existing property will not attract CIL payments.

2.4.3 These varying rental levels were combined with yields assumed at between 6.5% and

8% (varying dependent on scheme type). All schemes were appraised initially using a

yield assumption of 8% (results set not included). All were then appraised at 7.5%

(which, following further review, we considered appropriate to develop as the base

set for most forms of commercial / non-residential development envisaging good

quality new development, rather than much of the transactional evidence – which

relates mostly to older accommodation. Retail and hotel scenarios were also

appraised at 6.5% yield; which was felt to be more reflective of likely levels for those

scenarios – particularly the large retail (supermarkets / retail warehousing) and hotel

scenario. This range, overall, enabled to us to explore the sensitivity of the outcomes

to such variations, given that in practice a wide variety of rental and yield



expectations or requirements could be seen. We settled our view that the medium

level rental assumptions combined with 7.5% base yield (6.5% for large retail and

hotel uses) were the most appropriate at the current time in providing context for

reviewing results and considering viability outcomes.

2.4.4 It is important to note here that small variations, particularly in the yield assumption,

but also in rental value assumptions, can have a significant impact on the gross

development value that is available to support the development costs (and thus the

viability of a scheme) together with any potential CIL funding scope. We consider this

very important to bear in mind in the context of the balance that must be found

between infrastructure funding needs and viability. Overly optimistic assumptions, or

assumptions that would rely on infrequent circumstances in the local context, could

well act against finding that balance in our view.

2.4.5 Overall, this approach enabled us to consider the sensitivity of likely viability

outcomes to changes in the capitalised rents and allowed us to then consider the

most relevant areas of the results in coming to our overview. As with other study

elements, particular assumptions used will not necessarily match scheme specifics

and therefore we need to look instead at whether / how frequently local scenarios

are likely to fall within the potentially viable areas of the results (including as values

vary). This is explained further in Chapter 3 which follows.

Figure 8: Rental Value for Commercial Schemes

Scheme Type Value Level

(Annual Rent Indication £ /m²)

(“Low”) (“Medium”) (“High”)

Large Retail (supermarket – convenience) £200 £250 £300

Large Retail (retail warehouse/supermarket) £150 £200 £250

Small Retail

(convenience; also comparison; A1-A5) £125 £150 £175

Business development - Town Centre offices £160 £190 £220

Business development - Business Park £170 £200 £230


- B1, B2, B8 - Industrial / Warehousing - Small £80 £90 £100

Business development £70 £80 £90



- B1, B2, B8 - Industrial / Warehousing - Larger

Hotel (budget - 120 rooms) £150 £188 £225

Residential Institution (care/nursing home) £160 £180 £200

Institutional / Community / Health £120 £150 £180

Leisure (e.g . Fitness, bowling) £100 £120 £140

2.4.6 We are making this viability assessment following a period of significant recession

which has seen a major downturn in the fortunes of the property market – from an

international and national to a local level, and affecting all property types (residential

and commercial). At the time of writing we still have a weak economic backdrop

feeding through in to significant ongoing property market uncertainty. Although

there have been a range of mixed signs in 2011, we are still seeing low levels of

development activity. This is caused by a cocktail of factors e.g. as a result of low

occupier demand, and related to poor availability of attractively priced and readily

available finance for property development and purchasing. The RICS Commercial

Market Survey states for Q3 of 2011 that “tentative recovery in real estate shows

signs of faltering”. It goes on to say “that tenant demand retreated over the quarter

which, coupled with rising available space, is resulting in a more negative view on

rental expectations. Surveyors attribute the fall in sentiment to the uncertain outlook

for the wider economy… Significantly, sentiment has fallen across all sectors of the

market. Retail demand slipped furthest into negative territory, while available space

also rose fastest in the retail sector. However, rental expectations at the national level

were most negative for offices”.

2.4.7 As with residential, consideration was given to whether there should be any varying

approach to CIL charging levels for commercial and other developments in the

District.

2.4.8 On review, whilst most scheme types would not occur, or at least not regularly, in the

smaller settlements / rural areas, it was considered that the key types could occur at

the 3 major settlements of High Wycombe, Marlow and Prince Risborough. However,

in each case it was considered that variations in values and viability outcomes would

be more likely to be the result of detailed site and scheme specific characteristics,

and not necessarily driven by distinctions between location in the more general

geographical sense that area based CIL variations would mean in a District like



Wycombe. On review of the commercial values data, no justifiable or readily

definable approach to varying the potential CIL charging on commercial / other

development types was found. Whilst certain specific scheme types could create

more value in one location compared with another in the District, typically, there was

felt to be no clear or useful pattern which might be described for that – as there was

for residential. This will be clarified in Chapter 3 and can be seen the through the

variety of values information at Appendix III.

2.5 Development Costs - General

2.5.1 Total development costs can vary significantly from one site or scheme to another.

For these strategic overview purposes, however, assumptions have to be fixed to

enable the comparison of results and outcomes in a way which is not unduly affected

by how variable site specific cases can be. As with the residential scenarios, an

overview of the various available data sources is required; and is appropriate. Each

area of the development cost assumptions is informed by data - from sources such as

the RICS Building Cost Information Service (BCIS), development consultation /

scheme examples where available, professional experience and other research. For

this overview we have not allowed for particular abnormal costs that may be

associated with particular sites as these are highly specific and can distort

comparisons at this level of review. In our view, and again related to the need to

consider balance (and not “push to the limits”) in setting CIL charging rates, this is

another factor that should be kept in mind; in some circumstances and over time,

overall costs could rise from current / assumed levels. The interaction between

values and costs is what counts and, whilst any costs rise may be accompanied by

increased values from assumed levels, this cannot be relied upon.

2.6 Development Costs – Build Costs

2.6.1 The base build cost levels shown below are taken from the BCIS. In each case the

median figure, rebased to Q3 2011 and a Wycombe location index (109 relative to a

national level of 100) is used. Costs shown are for each development type (residential

and commercial):



Figure 9: Build Cost Data (BCIS Median, Q3 2011, Location Index 109)

Use Property Type BCIS Build

Cost (£/m²)*

Residential One off housing £1,299

Residential Mixed developments £890

Residential Flats £1,015

Large Retail Supermarket £1,197

Large Retail Retail warehouse £610

Small Retail Convenience Store £753

Business development Town Centre Office Building £1,394

Business development Business Park Office Building £1,309

Business development Industrial unit including offices £792

Business development Larger industrial / warehousing unit

including offices. £631

Hotel (budget - 120 rooms) Hotel. £1,410

Residential Institution Nursing (care) Home £1,394

Institutional / Community

/ Health Clinic or similar £1,390

Leisure Fitness etc £1,675 *excludes externals and contingencies (these are added to base build cost)

2.6.2 The above build cost levels do not include contingencies or external works. An

allowance for externals has been added to the above base build cost on a variable

basis depending on the scheme type. This is typically between 14% and 21% of base

build cost for flatted and housing schemes, respectively, based on analysis of specific

schemes within the BCIS dataset. A notional allowance for externals of 20% of base

build cost has been added for all commercial schemes, based on a range of

information sources and cost models. There will always be a range of data and

opinions on, and methods of describing, build costs. In our view, we have made

reasonable assumptions which lie within the range of figures we generally see for

typical new build schemes (rather than high specification or particularly complex

schemes which might require particular construction techniques or materials). As

with many aspects there is no single appropriate figure in reality, so judgments on

overview assumptions are necessary. As with any assumption of course this will be

highly site specific. In the same way that we have mentioned the potential to see

increased costs in some cases, we could also see cases where externals costs or other

elements will be lower than those assumed. Once again, in accordance with



considering balance and the prospect of scheme specifics varying in practice, we aim

to pitch assumptions which are appropriate and realistic through not looking as

favourably as possible at all assumptions areas.

2.6.3 An allowance of 5% of build cost has also been added to cover contingencies. This is a

relatively standard assumption in our recent experience. We have seen variations,

again, either side of this level in practice.

2.6.4 Survey and normal site preparation costs have also been allowed for on a notional

basis (£500 and £4,000 per unit respectively for residential; variable within the

commercial schemes).

2.6.5 In addition, for this broad test of viability it is not possible to test all variations to

additional costs however a further allowance of 4-5% has also been added to the

total build cost in respect of achieving higher sustainable design and construction

standards (either in relation to building regulations or equivalent requirements – e.g.

Code for Sustainable Homes / BREEAM). This allowance has been added to all build

costs to reflect a potential future increase in costs in relation to the sustainable

construction agenda above current standards.

2.6.6 The interaction of costs and values levels will need to be considered again at future

review points. In this context it is also important to bear in mind that the base build

cost levels will also vary over time. In the recent recessionary period we have seen

build costs fall, but moving ahead they are expected to rise again. The latest BCIS

data indicates that tender prices increased by 0.9% compared to the previous quarter

(the 5th consecutive rise since 2nd quarter 2010) and 3.7% over the preceding year.

The forecasts suggest continued fluctuation in tender prices but with a general

upwards trend. The current forecast to 2013 suggests the following:

“Following the sharp rise in the 2nd quarter, the rate of increase in materials prices is

expected to slow down in the second half of the year. Energy, fuel and raw materials

prices continue to drive up the unit costs of materials. It is therefore anticipated that

materials prices will continue to rise for the foreseeable future at a pace below the

rate of inflation. General inflation is expected to peak just below 6% towards the end

of 2011, falling to around 3% over the forecast period.



It is anticipated that the deteriorating economic outlook is going to keep wage

inflation at bay in the first year of the forecast period. Wage awards are expected to

rise well behind the rate of general inflation, with workloads still well below pre-

recession levels. However, wages are expected to rapidly increase in the medium term

to recover some of the lost income following the expected return to above long term

growth in 2013.

After a relatively positive start to 2011, new work output stalled in the 2nd quarter

and it is now anticipated to fall in both 2011 and 2012, with growth only returning in

2013. Revised output figures revealed that the impact of the public sector cutbacks is

already having a negative effect on the construction industry, with private sector

growth only expected to start mitigating the decline in public spending in 2012 and

2013. However, despite the cuts in public sector investment, it is anticipated that the

infrastructure sector will grow over the forecast period, but with relatively modest

growth in 2011 and 2012”.4

2.7 Development Costs – Fees, Finance & Profit (Residential)

2.7.1 The following costs have been assumed for the purposes of this study and vary

slightly depending on the type of development (residential or commercial). Other

development cost allowances for residential scenarios are as follows:

Professional and other fees: Total of 15% of build cost (including planning, building

regulations, insurances etc)

Site Acquisition Fees: 0.75% agent’s fees

0.75% legal fees

Standard rate (scale) for Stamp Duty Land Tax

Finance: 6% interest rate (assumes scheme is debt funded)

Arrangement fee variable – basis 1% (of cost)

4 RICS BCIS News – “Tender Price Update” (25/10/11) http://service.bcis.co.uk/V3_BCIS/template.html



Marketing costs: 3.0% sales fees

£600 per unit legal fees

Developer Profit: Affordable Housing – 6% of GDV

Open Market Housing – 20% of GDV

2.8 Development Costs – Fees, Finance & Profit (Commercial)

2.8.1 Other development cost allowances for commercial development are as follows:

Professional and other fees: Total of 12% of build cost (including planning, building

regulations, insurances etc)

Site Acquisition Fees: 1.0% agent’s fees

0.75% legal fees

Standard rate (scale) for Stamp Duty land Tax

Finance: 6% interest rate (assumes scheme is debt funded)

Arrangement fee variable

Marketing costs: 1% promotion costs (% of annual income)

1.5% sales fees (of sales price where applicable)

10% letting / management fees (% of annual income)

Developer Profit: 20% of GDV

2.9 Build Period

2.9.1 The build period assumed for each development scenario has been based on BCIS

data (using its Construction Duration calculator by entering the specific scheme types

modelled in this study) alongside professional experience and informed by examples

where available. The following build periods have therefore been assumed (note this



is for the build only; lead-in and extended sales periods have also allowed on a

variable basis according to scheme scale, having the effect of increasing the periods

over which finance costs are applied):

Figure 10: Build Period

Scheme Type Build Period (months)

1-4 Unit Housing Schemes 6

14 Unit Housing Scheme 9

25 Unit Mixed Housing

Scheme 12


Scheme 18


Scheme 24

Large Retail -supermarket 9

Large Retail –retail

warehousing 7

Small Retail (principally

convenience stores) 3.5

Business

- Town Centre Offices 6

Business

- Business Park Offices 10

Industrial (small) 6.5

Industrial / Warehousing

(larger) 8

Hotel (budget - 120 rooms) 10

Care Home 16

Institutional / Community

/ Health 7.5

Leisure 12

2.10 Other S.106 Costs

2.10.1 An ongoing site specific s.106 allowance (financial contribution) has been factored

into the appraisal assumptions as well (alongside affordable housing). On discussion

with the Council it was considered that a majority of existing Planning Obligation



requirements would be taken up within the CIL proposals, but nevertheless that small

scale site specific requirements (perhaps dedicated highways improvements /

alterations or similar) could remain in some circumstances. The appraisals included a

notional sum of £500 per dwelling on this aspect purely for the purposes of this study

and in the context of seeking to allow for a range of potential scenarios and

requirements.

2.11 Land value comparisons

2.11.1 As discussed previously, in order to consider the likely viability scope for a range of

potential (trial) CIL contribution rates in relation to any development scheme, a

comparison needs to be made between the outturn results of the development

appraisals (in terms of RLV) and some benchmark or known land value. As suitable

context for a high level review of this nature, DSP’s practice is to compare the wide

range of appraisal RLV results with a variety of potential land value comparisons. This

allows us to consider a wide range of potential scenarios and outcomes and the

viability trends across those. This approach reflects the varied land supply picture

that the Council expects to see, including the regular occurrence of schemes coming

forward on former employment land in the future.

2.11.2 The scale of the difference between the RLV and comparative land value level (i.e.

surplus after all costs, profit and likely land value expectations have been met) in any

particular example, and as that changes between scenarios, allows us to judge the

potential CIL funding scope. It follows that, in the event of little or no surplus, or a

negative outcome (deficit), then we can see that, alongside the other costs assumed,

there is little or no CIL contribution scope.

2.11.3 In order to inform these land value comparisons or benchmarks we sought to find

examples of recent land transactions locally (no firm evidence of such was available

from the various soundings we took) alongside data sourced from the VOA, previous

research / studies provided by the Council, consultation and other on-line resources.

Each of the RLV results is compared to a range of land value levels representing

typical values for sites of varying types (greenfield, employment and existing

residential) based on these considerations. Again, scheme specific scenarios and the



particular influence of site owners’ circumstances and requirements will in practice

be variable.

2.11.4 In terms of the VOA, data available for comparison has reduced significantly since

the July 2009 publication of its Property Market Report; with data provided only for

2 areas within the South East in the latest (January 2011) report. However, the July

2009 report provides a range of values for industrial land for the South East and the

January 2011 report indicates that commercial market had changed little in

between. Other information has been sourced from existing research (for example

the Council’s Delivery and Site Allocations DPD Viability Assessment) together with

general indications and responses as were otherwise available.

2.11.5 As well as a level of value relating to an existing or alternative use driving a site’s

value (‘EUV’ or ‘AUV’), there may be an element of premium (an over-bid or

incentive) required to enable the release of land for development. In our view, this

would not apply, however, in situations where there is no established ready market

for an existing or alternative use. The HCA’s draft document ‘Transparent Viability

Assumptions’ that accompanies its Area Wide Viability Model suggests that “the

rationale of the development appraisal process is to assess the residual land value

that is likely to be generated by the proposed development and to compare it with a

benchmark that represents the value required for the land to come forward for

development”. This benchmark is referred to as threshold land value in that

example: “Threshold land value is commonly described as existing use value plus a

premium, but there is not an authoritative definition of that premium, largely

because land market circumstances vary widely”. Further it goes on to say that

“There is some practitioner convention on the required premium above EUV, but

this is some way short of consensus and the views of Planning Inspectors at

Examination of Core Strategy have varied”. These types of acknowledgements of the

variables involved in practice align to our thinking on the potential range of

scenarios likely to be seen. As further acknowledged later, this is one of a number of

factors to be kept in mind in setting suitable rates which balance viability factors

with the infrastructure needs side.

2.11.6 We would stress here that any overbid level of land value (i.e. incentive or uplifted

level of land value) would be dependent on a ready market for the existing or other



use that could be continued or considered as an alternative to pursuing the

redevelopment option being assumed. The influences of existing / alternative uses

on site value need to be carefully considered. At a time of a low demand through

depressed commercial property market circumstances, for example, we would not

expect to see inappropriate levels of benchmarks or land price expectations being

set for opportunities created from those sites. Just as other scheme specifics and

appropriate appraisal inputs vary, landowners’ expectations will need to be realistic.

2.11.7 Essentially this approach leads to the comparison of the RLV results in £s per hectare

(having taken into account all values and costs including varying levels of CIL) to a

range of potential land values representing various greenfield, previously developed

land (e.g. former commercial uses) or existing residential (residential intensification)

benchmark land value indications. The range of land value comparisons is set out

beneath the results tables (at Appendices IIA and IIB) and further information is set

out within the wider research as included at Appendix III. The results trends

associated with these are seen at Appendices IIA and IIB, as explained in chapter 3

below.



3 Findings

3.1 Introduction

3.1.1 Results summaries are included at Appendix IIA (residential scenarios) and Appendix

IIB (commercial/non-residential); in each case reflecting the scenarios set out at

Appendix I. Within Appendices IIA and IIB there are different tables according to the

type of host site assumed for the scenarios and bearing in mind the variables /

dynamics discussed for example at 2.1.4 within the methodology section – e.g.

greenfield, PDL (former commercial) and residential intensification. In the case of the

commercial results, there are 2 sets covering alternative yield views of 6.5% (on retail

and hotel uses) and 7.5% (on all uses); as discussed, in relation to exploring the

sensitivity of the results to these factors.

3.1.2 In summary Appendix IIA and IIB results tables show:

Left side column: Scheme scenario (dwelling numbers/scheme type and,

where relevant, affordable housing proportion).

Under each residential scheme type: Increasing value (GDV) level (VL 1-5).

Under each commercial scheme type: Increasing value (GDV) – L (low); M

(Medium); High (H). The ‘M’ value levels considered the key area regarding

current time balanced interpretation of results, ‘L’ and ‘H’ looking at the

sensitivity of outcomes flowing from lower or higher values, related to varying

scheme type / location; and / or market movements.

Left hand side of main table area: RLV appraisal results expressed in £s.

Right hand side of main table area: RLV appraisal results expressed in £s per

Ha equivalent, given the assumed scenarios on type, density/coverage, etc.

o Within each of those sections the coloured cells (see below) are the

key areas in terms of reviewing trends. The trial CIL rates – in £s per

sq m are shown across the top row - applied as a key part of the



iterative process of exploring the affect on likely viability (or risk to

the scheme proceeding) of those rates increasing. As discussed

earlier, realistically this has to be carried out in steps to control to

reasonable parameters the extent of the appraisal modelling exercise.

Providing these trial rates span a wide enough range and have small

enough steps in between, the iterative process can be applied and

considered successfully. We have considered rates of £0 to £250/sq m

for residential and commercial scenarios.

o The colour coding provides a rough guide only to trends – helping to

highlight the general results trends. Based on the accepted nature of

such an exercise, i.e. not being an exact science, this must not be

over-interpreted as representing any strict cut-offs as regards viability

/ non-viability. In practice, switch points between viability and non-

viability will be variable and this process explores the likelihood of

various realistically assumed values and costs (including potential CIL

rates) proving to be workable and therefore achieving the most

appropriate points for finding balance between CIL rates and the high

level of the local infrastructure needs.

o Taking into account the above comments, the colours therefore

indicate general trends as follows:

Green - Considered to be good viability prospects

Yellow - Considered to be reduced viability prospects –

potentially ranging from marginal to more clearly viable,

depending on particular details i.e. potentially viable

Red – In the main clearly poor viability outcomes – no to very

low prospect of viable schemes.

Far right side: two columns indicating the theoretical maximum potential CIL

charging rates by applying any potential RLV surplus / margin (see 2.1.5 and

associated text on methodology) fully to CIL. In each case the lower potential

maximum CIL rate on the left is based on the requirement to exceed the

higher of the land value benchmarks applied according to the scenario. The

second column (far right) indicates the potential maximum CIL rate based on



applying the full amount of any surplus having exceeded the relevant lower

end land value benchmark for each type. That far right column therefore

indicates the very maximum CIL rate figure potentially applicable in each case

– should that set of circumstances be workable in all respects and were the

CIL rate to be pushed up to its fullest possible extent in these viability

overview terms.

Footnotes at the bottom – reminder of land value benchmark indications and

ranges; bearing in mind the context and explanations provided elsewhere.

3.1.3 In addition, each results Appendix contains appraisal summary sheets, which display

the key input areas, relationship between those and the outputs (Indicative RLVs)

they produced (as transposed to the table discussed above). Bearing in mind the

study purpose and nature, these are not the full appraisals, given the volume and

added complexity of information that would involve displaying. They are intended to

provide an overview of the main assumptions areas and the outcomes, and to further

help an understanding of how the residual land valuation process has been used

here.

3.1.4 On reviewing the results and the Council taking this further in to the wider

consideration of its preliminary draft charging schedule CIL rate(s) proposals, a

number of key principles have been and are to be kept in mind – for example:

a. The CIL rates should not be taken to their limits. Bearing in mind that in

practice:

i. Costs will vary from these assumptions levels (build costs being a key

example) – we have allowed appropriately and have not kept these to

what might be minimum levels by any means. Some scope may be

needed where costs are higher, however, by reason of site specific

abnormals, increasing carbon reduction agenda requirements, etc.

ii. Land owners’ situations and requirements will vary. While, as stated,

those will need to be realistic (and, as part of that, assessments will

need to be made as to whether there are realistic prospects of



securing significant value from existing or alternative uses in the

prevailing market), they could be outside the ranges we have explored

in making our overviews; including at higher levels.

iii. The market remains uncertain and could continue to falter, including

to an increased view (reducing sales volumes and further impacting on

prices – directly impacting the GDV assumptions; hence the range of

value levels explored for sensitivity).

iv. Affordable housing provision (as been assumed where required

alongside the trial CIL rates) and other wider planning objectives such

as sustainability remain key priorities of the Council. HCA funding for

affordable housing appears to be uncertain and likely to continue

being limited in application for the foreseeable future. Again,

appropriate revenue assumptions have been made.

v. Developer’s profit level (and related funders’) requirements could well

vary. Particularly in the case of commercial schemes, we could see

lower profit level requirements than those we have assumed.

However, we felt it appropriate in particularly depressed commercial

market conditions to acknowledge that there may need to be some

scope in this regard; or in respect of other commercial scheme

costs/risks. This, again, is part of setting assumptions which fit with

arriving at a balanced approach overall; not looking to remove cost

from collective assumptions so that scheme prospects become too

dependent on those particular assumptions proving correct in

practice. All will vary, and so how they inter-act will too, when it

comes to site specifics.

b. The potential CIL charging rates need to be considered alongside other factors

relevant to the locality and development plan (Core Strategy), for example

regarding:



i. Location and frequency of key parts of the local growth planning –

considering where will development in the main be coming forward

(in relation to the values patterns for example).

ii. Types and frequency of schemes likely to be relevant; including

accepting that in practice variation is very wide – particularly on

commercial/non-residential, where schemes could be seen in many

shapes and sizes, uses and combinations thereof, etc. However, it is

necessary to consider the local relevance of those alongside their

likely typical viability in terms of any scope to support viability. Focus

needs to be on the main relevant types, given this is all about the plan

(Core Strategy) delivery and the area as a whole.

iii. Respecting clear values patterns but also understanding that there are

bound to be imperfections in defining any viability zones or similar – in

practice values can change over a very short distance (within schemes,

different sides or ends of roads, with different aspects, school

catchments, with other local variations, etc). A suitable overview

needs to be made and the charging regime not becoming

overcomplicated by aiming to respect too many of these detailed

aspects. It would not be possible to respect them all fully in any event.

iv. Understanding that some schemes may not be able to support the

collective requirements, but looking at the bigger – District-wide –

picture.

v. On the flip-side, also understanding that some schemes / scheme

types may in theory have been able to fund a greater level of

contribution than the recommended levels (and/or greater levels of

other obligations) – in the context of balance in setting levels, not

adding undue risk to delivery and therefore moving forward with the

local economy and growth.

vi. The variety of site types that is expected to come forward – meaning

reviewing the results scales in the context of a range of potential land



value comparison levels. We do not consider it appropriate to rely on

comparisons at a single land value level for each scenario as

development will come forward in various guises and on a range of

site types over time. In assessing results it has been necessary to

consider viability outcomes across the results sets and various land

value comparison levels.

vii. The scale of local infrastructure needs and therefore likely funding gap

in assessing the balance. This is large here; meaning that the Council

does need to look quite hard at securing a significant but realistic level

of funding through CIL as a key ingredient of the overall funding

packages.

viii. The collection of CIL payments from net new development – in

practice we are informed by the Council that a very significant number

of developments in the District will entail some level of “netting-off”

of existing floorspace in the calculations. This means that the CIL rate

will not be applied to the full scale of new development in many cases.

This could be by way of replaced or re-used / part re-used buildings.

Our appraisals have not factored-in any netting-off in this way,

because this will be a highly variable influence on scheme outcomes.

Refurbishment costs may also be relevant to overall viability

calculations on site specifics. The Council expects the netting-off effect

to further ensure that the charging rates(s) are not set “right up to the

margin of economic viability” (see 3.1.6 below).

3.1.5 The results are highly variable in line with the broad overview nature of this

assessment, which is to be used as a viability health-check from a strategic

perspective alongside the Council’s wider work on, and consideration of, a range of

other factors such as these.



3.1.6 This all links to avoiding “setting a charge right up to the margin of economic

viability”5 in accordance with the tone of the Government (CLG) guidance. Local

authorities have significant scope to consider exactly how they will assess and arrive

at the right balance in a particular area.

3.1.7 A common theme running through all of the results (commercial and residential) is

that they are highly sensitive to varied appraisal inputs and the land value

comparisons considered as potential benchmark ranges. A relatively small

adjustment, particularly in some assumption areas can have a significant effect on

the result.

3.1.8 This assessment process explores the degree to which changes in key assumptions

produce varying results. In this way it is not a specific valuation exercise (it cannot be)

but it has enabled us to consider the likelihood of a wide range of potential CIL

charging rates being achievable and suitable. In the case of poor viability results (no

or low viability prospects), this included looking at the extent to which assumptions

would need to vary (improve in favour of viability) to make those suitable approaches

as a sustainable CIL levels; and vice-versa on scenarios with good viability prospects

(the potential leeway for decrease of those outcomes); and whether those

sensitivities amount to realistic scenarios or not given what we can currently see of

market conditions, etc.

3.1.9 Potentially there are almost infinite variations of assumptions that could be worked

through. It is important therefore that an overview is made. In doing so, we can

review the results trends; i.e. it is also possible to consider what type of outcomes

would be found between the points (appraisal assumptions combinations) that have

been modelled. Ultimately there will be no getting away from the reality of a range of

outcomes, within and potentially outside the scope of appraisal inputs we have used.

There may be cases where specific developments are unable to bear some or all of

the additional cost of CIL (in the same way that is sometimes seen with other

obligations on a scheme). Such viability outcomes are unlikely to not be limited to CIL

5 DCLG – Community Infrastructure Levy Guidance – Charge Setting and Charging Schedule Procedures (March

2010)



charging, however, but may also link with market conditions (arguably the biggest

single factor) affordable housing, scheme design / construction / specification

requirements (including but not limited to sustainable construction) and wider

planning objectives. Usually, the collective costs impact on schemes will be relevant

for consideration where issues arise, so that some level of prioritisation may be

required – bearing in mind that CIL payments will be non-negotiable.

3.1.10 It is important to note, when we refer to highly variable outcomes / sensitive results,

that:

This is not just a Wycombe factor, but one that we firmly believe will have to

be recognised in any similar assessment and practical local application of the

Government’s CIL regime – regardless of location.

These characteristics would apply regardless of the CIL rate(s) set, so that with

particular scheme difficulties (for all development types) setting a significantly

lower CIL rate would not necessarily resolve any viability issues; we could still

see a range of unviable or marginally viable schemes with even a zero (£0) CIL

rate. The overall results – see the coloured tables at Appendices I and II

include a range of unviable results in relation to particular scenarios and

especially on some commercial types (including what amounts to negative CIL

potential).

Values Patterns

3.1.11 In the assessment stages, we relied on the market research before deciding on

whether any sufficiently clear values patterns were evident for a reliable link with CIL

charging rates for Wycombe – i.e. that might be varied in some way by geography –

particular zones / key centres / localities or similar.

3.1.12 With reference to the research summarised at Appendix III, we found a range of clear

and relatively consistent pointers to residential values variations and patterns in the

District. These showed:



a. Lower values in the High Wycombe Local Community Area (LCA) compared

with the other 3 LCAs covering the District.

b. High Wycombe urban area having values variations within it, as with all areas,

but typically towards the low end of the values range seen in the District as a

whole. New builds have been seen to have the potential to buck trends, but

we would still expect to see patterns; relative levels varying to some degree

at this District-wide level.

c. Through values “heat mapping” a clear pattern of typically lower values

running NW-SE parallel broadly to the M40 / A40 from Stokenchurch in the

west of the District to Chepping Wycombe and adjoining areas in the east.

These typically lower values effectively from an approximately NW-SE “axis”

through the District, either side of which the values typically increase with

moving out towards Marlow and the Thames Valley rural areas in the south;

and northwards, again to the rural areas and smaller settlements.

d. Settlements linked to and outside the High Wycombe urban area within this

“axis” typically have lower values than the areas to the north and south.

e. This same picture was echoed by the wards area based heat type mapping

that was included in the wider area (Buckinghamshire based) SHMA

information from 2007; values patterns (relative values variations – on a

typical rather than specific location/scheme based view) within the District

have remained, as would be expected.

f. No clear picture of lower values in Princes Risborough on a reliable basis,

particularly in respect of levels for new builds. The fact that significant

development here is likely to have been delivered through s.106

arrangements is also relevant, since in the next few years the scale of new

development likely to be related to CIL provisions there may well be relatively

low. Collectively, it is considered that there is little clear justification for

aligning the approach at this settlement to that/those for the lower value

areas within the central “axis” area; if an approach with more than one CIL

rate is to be pursued.



3.1.13 A similar process was considered with respect to non-residential (commercial)

schemes – i.e. whether or not there were any particular values patterns or distinct

scenarios that might influence the implementation of a charging schedule for the

District.

3.1.14 It was decided that the Wycombe commercial property and development market

should and really can only logically be treated as one for this strategic purpose in

practical terms – without the local CIL charging approach potentially becoming overly

complex. No clear patterns were seen; variations are more scheme and precise

details / location driven. In reality, certain types of commercial development could

occur across a wide range of locations within the District (for example smaller retail

proposals – e.g. new convenience stores, care homes and similar proposals, hotels,

small office developments). Conversely, “out of town centre” larger retail proposals,

larger scale office development and industrial /warehousing is likely to occur in a

relatively limited range of locations between which it may well be difficult to

distinguish values on general location (geographical area) alone – edges of main

settlements. Overall, following the consideration of options we are of the opinion

that a clear District-wide application of the CIL by commercial / non-residential

development type will be most appropriate for Wycombe; as has been the case in

several other local authority cases progressed to this extent to date. Unlike

residential development in this District, our view is that no amount of attempted

sensitivity to particular local value variations is likely to be capable of actually

respecting the variations likely to be seen in practice; there are no clear broad

patterns without this becoming very complicated. Higher and lower value commercial

space of varying types has been delivered in each of the main settlements.

3.1.15 Therefore, rather than variation by area (locality), in carrying out the research for this

study we developed the view that the key variable characteristics associated with

different types of development require an approach that moves away from a single

CIL rate. Development type rather than locality should be the key driver for

commercial scenarios.



3.1.16 Therefore the assessment outcomes will now be discussed by development type,

starting with residential and then moving on to non-residential commercial / non-

residential development scenarios.

3.2 Residential scenarios (including Sheltered Housing) – Findings

3.2.1 Value Levels 2-5 represent the key scenarios; the lower to middle part of that range

being generally applicable to the central “axis” scenarios; middle to upper to the

Marlow area and smaller settlements / rural areas north and south.

3.2.2 Overall (District-wide) the parameters for suitable CIL charging rates are £100 - £150/

sq m. While it is possible to look at some results from higher end value scenarios, we

consider that there relevance would not be significant enough to warrant a level of

charge set above this range in any of the local circumstances. This is stated with the

above points about balance and the need to recognise factors such as higher house

prices tending to drive higher land price expectations.

3.2.3 Whilst a single District-wide (blanket type) approach could be taken – that is an

option - we consider that there are sufficiently clear values patterns stemming from

the varying characteristics (High Wycombe plus “central axis” compared with Marlow

plus north and south) to support a dual charging zone approach; following those two

sets of characteristics.

3.2.4 A single rate would need to be set at what amounts to the lowest common

denominator approach, i.e. respecting likely lower values and viability trends in High

Wycombe and also the central axis area, as we have described it. This would mean a

rate not exceeding £125/sq m in our view.

3.2.5 However, we consider that a more locally relevant approach respecting the patterns

seen would be to reflect the increased values and tone of viability findings applicable

to the Marlow, wider south and northern areas of the District. This would produce an

appropriate charging level of £125/sq m typically lower value areas (i.e. central NW-

SE axis); £150/sq m for the remainder of the District.



3.2.6 We would not recommend charges set in excess of these levels, even though some

high value scenarios would appear to have the potential in some cases to support

that.

3.2.7 This relates reasonably well to the District Council’s existing largely formulaic basis

for seeking and securing a range of planning obligations and contributions (through

s.106 agreements) most of which will be replaced by the wide ranging scope of CIL in

covering all but site specific matters (affordable housing and perhaps particular site

specific issues such as dedicated highways improvements). A small residual allowance

per dwelling has been made within our appraisals for any matters that will not be

covered by the CIL and still need to go in to a s.106 agreement along with affordable

housing obligations (where applicable).

3.2.8 As above, there will be lower value schemes and localities where developments

struggle in viability terms, even without any significant CIL contribution. So far as we

can see, no lower level set for CIL could ensure the deliverability of all these

individual schemes on a reliable basis; or make sure that some levels of CIL were

always collectable. In some cases, viability is inherently low or marginal, regardless of

CIL or other specific cost implications. These are not just Wycombe DC factors; we

find them in much of our wider viability work.

3.2.9 Associated with this, we think it will be necessary to monitor outcomes annually as

part of the Council’s normal monitoring processes, with a view to informing any

potential / necessary review in perhaps 2-3 or more years time as other policy

developments take place; and in response to market and costs movements and any

other key viability influences over time.

3.2.10 The results of the residential appraisals are typically most sensitive to the Value

Levels assumed for the market housing that will drive scheme viability. Other factors

which can also have a significant effect on viability outcomes are:

Scheme density – linked to land take (site area occupied) and the land value

requirement / expectation.

Build costs – generally, but including related to sustainable design and

construction.

Other costs side influences – profit levels, finance, fees, etc.



Any abnormal development costs.

3.2.11 We carried out additional exploratory appraisals on the single unit residential

scenarios. These are not included within the final reporting owing to the need to

produce a realistically scoped scale of work and documentation; as with many other

angles where in theory this type of work could be expanded to even greater levels of

detail, beyond the expectations of the CIL guidance on considering viability.

3.2.12 On this point, however, we found that, for low value scenarios, increasing the

dwelling size reduced the RLV and viability outcome further; and for higher viability

scenarios (scenarios with already positive outcomes) the opposite was seen –

viability indications were improved. As seen through those appraisals, this is simply a

case of increasing the direction of an existing outcome – either way (depending on

whether as a starting point it is a viable scenario given the typical relationship

between costs and values seen at the particular point on the values scale). The

indications are that larger dwelling sizes, as may be seen more on the smallest

schemes, will tend to show better viability outcomes providing they are in situations

and locations that support at the mid to upper values for the District.

3.3 Commercial / Non-Residential Findings

3.3.1 As would be expected, the commercial appraisal findings are very wide ranging. For

this strategic overview rather than detailed valuation exercise we have essentially

considered the interaction of rent and yield as presenting a view of sample ranges

within which capitalised net rents could fall.

3.3.2 In this way we have explored various combinations of assumptions (including

capitalised rental levels) which produce a range of results from negative outcomes

(meaning very limited or nil CIL scope) to those which produce meaningful and in

some cases considerable CIL scope. To illustrate the trends we see, the coloured

tables in Appendix IIB use the same “coding” principles as the residential results

tables (green indicating good prospects of viable schemes through to red indicating

no or very limited / marginal viability prospects at best).



3.3.3 Another factor to which the commercial outcomes are greatly sensitive is the site

coverage of a scheme, i.e. the amount of accommodation to be provided on a given

site area; very much the equivalent of residential scheme density. This can affect

results considerably, combined with the land buy-in cost for the scheme. We saw the

effect these factors with residential too.

3.3.4 Factors such as build costs clearly have an impact too, but for the given scheme

scenarios are not likely to vary to an extent which makes this a more significant single

driver of results than the values influences (rents and yields) outlined above. In

practice, it will be the interaction of actual appraisal inputs (rather than these high

level assessment assumptions) that determines specific outcomes. There are some

commercial use types where build costs, or build and other development costs, will

not be met or will not be sufficiently exceeded by the completed values (GDVs) so as

to promote viable development.

3.3.5 We will now summarise the assessment findings for the commercial uses

(development scenarios) considered, bearing in mind that scheme types will be highly

variable.

3.4 Retail scenarios (Use Classes A1 – A5; i.e. also covering food and drink, financial

services, etc)

3.4.1 In general, we saw very good viability indications for the retail scenarios we ran,

based on the range of assumptions applied. These schemes showed the best viability

outcomes from the wide range seen; including residential. As a high level outcome

this is consistent with our previous and wider work in this field, as well as findings by

other consultants. This tone of results is shown by the largely green coloured cells in

the Appendix IIB results summary tables (using this measure of potential CIL scope up

to £250 / sq m; and beyond that level given the theoretical maximum CIL rate levels

shown).

3.4.2 We consider that the CIL charging rate for the larger retail type (supermarkets and

retail warehousing) could be taken up to £250/sq m, but that it in finding balance and

not posing undue additional risk to the delivery of any such proposals, the Council

should closely consider not going further than this; i.e. not pursuing CIL charging



rates set further towards the very high theoretical maximums. Behind this, the

prospect that relatively high land values may be associated with this form of

development need to be kept in mind, together with the significant overall

development costs. We can see also that the larger supermarket appraisals with

lower value assumptions produced results indicating non-viability. The retail

warehousing scenario starts to produce land values that could be marginal beyond

the £200/sq m CIL trial level with reference to our PDL comparison, which is another

factor in coming to the view that rates higher than the above (up to) £250/sq m

recommendation would be inappropriate.

3.4.3 We also considered an intermediate sized supermarket (of 1,300 sq m) in the

background to seeking a relatively simple overall approach to retail, but were unable

to distinguish that, at this level of review, from the larger supermarket or retail

warehousing scenarios in likely viability terms. We have therefore not reported that

particular variation in detail.

3.4.4 Similarly, whilst appraising the smaller retail (A1 to A5) category, we explored the

sensitivity of that scenario type to varied size (floor area). Since this would not trigger

varying values or costs at this level of review, basically the reported values / costs

relationship stays constant; so that we do not see altering viability prospects as we

altered its floor area. This means that the outcomes for this scenario (as for many

others) are not dependent on the specific size of unit. The key factor differentiating

these types of retail scenarios from the larger ones is the value / cost relationship

related to the type of premises and the use of them; they are simply different

scenarios where that relationship is not as positive as it is in respect of larger,

generally out of town / edge of town stores. Specific floor area will not produce a

different nature of use and value /cost relationship.

3.4.5 We consider that creating a link with the scale of sales floor space associated with the

Sunday Trading provisions (3,000 sq ft / approx. 280sq m;) may be the most

appropriate threshold for any differentiation between CIL charging rates for retail

development. This means the overall unit size (which could vary greatly with ancillary

and other space included) would not necessarily need to be determined as the key

factor in differentiating for this scheme type.



3.4.6 Whilst on the face of it the rate at which they potentially create land value appears

similar to the larger retail (supermarket/retail warehousing) scenario, the actual sums

of money available for land purchase become relatively small, particularly if the CIL

cost trial assumed too high a rate. It is also likely that, where these schemes come

forward, that could be often on previously developed land; or be associated with

mixed uses whereby there will need to be a positive contribution to overall viability

(potentially as part of supporting other non-viable or less viable uses as part of

neighbourhood centre developments, etc).

3.4.7 Overall, we consider that a charging rate set at around half of the large retail rate

would be appropriate. It seems possible to justify more, but again we would question

whether that would begin to add an undue effect on likely viability. We recommend

that the Council considers a CIL charging rate of no more than £125/sq for small retail

scenarios, and this does not have to link to a specific floor area size.

3.4.8 We are envisaging the principally relevant form of development here being new

convenience stores.

3.4.9 In the background to this recommended viability distinction, it is also likely that a less

favourable rental capitalisation rate would be applied to smaller retail units such as

these (the 7.5% yield scenarios probably better representing these than the 6.5%

yields). This reinforces the varied nature of the value levels available to outweigh the

costs. We can see also that the theoretical maximum CIL rates are significantly lower

than those indicated for the large retail scenarios.

3.4.10 While we understand the prospect of new build comparison shopping units to be

relatively limited in planning (and certainly in economic) terms in the coming few

years, we consider that – should that form of development come forward – it would

be appropriate to link that to a similar level of CIL charging; rather than the higher

(larger retail) rate. This could be relevant in parades / any neighbourhood centres.

3.4.11 There are a range of retail related uses, such as motor sales units and retail

warehousing / wholesale type clubs / businesses, which may also be seen in the

District, albeit possibly not regularly. Whilst it is not possible to cover all

eventualities, and that is not the intention of CIL by our understanding, we consider



that it would be appropriate in viability terms to relate these to the lower CIL rate for

retail; particularly in preference to aligning them with usually less viable prospects

(those with lower value levels to support development costs), as will now be

discussed.

3.4.12 We assume that new fast food outlets, e.g. as part of retail developments, would be

treated as part of the retail scheme and (from our wider research) with values per sq

m at broadly similar to supermarket levels this would be an appropriate outcome.

3.4.13 Other uses under the umbrella of retail would be treated similarly. Individual units

would be charged according to their size as per the potential dual retail rate scenario

put forward above.

3.5 Business Development – Office / Industrial / Warehousing scenarios (Use Classes

B1, B1a, B2, B8)

3.5.1 In terms of likely scheme viability, these are simpler to discuss than retail. Whilst

again proposals could be highly variable in nature, the results convincingly show that

there is no foreseeable scope for any meaningful level of CIL charge to be made

applicable to such schemes in Wycombe District, reflecting similar findings across the

country due to the recent economic conditions.

3.5.2 These results indicate that only with the most optimistic capitalised rental scenarios

(yield and annual rent assumptions combinations), higher density (site coverage) and

/ or lower land value expectations do we see marginally viable schemes; but then

with little room for manoeuvre as seen through the low CIL charging rates only

possible even with a range of those ingredients in place (no more than say £50/ sq

m).

3.5.3 We consider that the collective assumptions need to be moved to points that are too

optimistic in order to create meaningful CIL scope at the current time and in the

foreseeable future.

3.5.4 The industrial unit type scenarios reviewed produced worse results on the basis of

the assumptions applied. As such, we have not considered it appropriate or



necessary to further explore where the potentially workable scenarios may lie in

terms of wider views of assumptions. In practice, we could also see less favourable

yield and rental combinations than those we have reviewed. We would certainly not

want to assume more favourable rental capitalisation than from a 7.5% yield for

these scheme types in the current ongoing climate of economic uncertainty.

3.5.5 Any funding yield benefits from seeking the collection of a nominal / modest level of

CIL charge would in our view be far outweighed by the likely additional risk placed

upon these forms of development through additional costs.

3.5.6 In summary, we recommend that a zero (£0) CIL charging rate be considered for

these use types.

3.6 Hotels

3.6.1 The budget type hotel scenarios reviewed represent a range of outcomes that are

again very sensitive to the capitalised rental assumptions (varying combinations of

annual rentals and yields) driving the appraisals.

3.6.2 Whilst we consider that the 6.5% yield test scenarios could well be more or as

relevant to this development type as those run at a 7.5% yield trial, only with the

highest value assumptions do we see results that suggest a good prospect of viability.

Even with a greenfield starting point scenario, the improving (limited viability

prospects) outcomes look to be marginal and would probably rely on Council owned

land or some other joint venture type scenario where land was not being purchased

in the market.

3.6.3 There are currently two budget hotel developments progressing in the town as part

of a mixed use scheme. Bearing in mind the Council will need to consider the

likelihood of further development of this type occurring regularly in the coming few

years balanced against the potential to add further risk to its delivery, we

recommend that at the current point a zero (£0) charging rate be considered for this

use type. In looking for the right balance, it appears that the likely limited CIL yield

(contribution to funding gap) potential would not outweigh the added risk to the

viability of any new build / extension proposals for hotel use.



3.7 Residential Institutions – Care Homes

3.7.1 Since proposals falling under this category could again be highly variable in nature, as

well as in terms of the values and other assumptions potentially applicable to varying

scheme specifics, through discussion with the Council we have focussed our appraisal

basis on a notional Care Homes scenario at this stage. Related to the ageing

population profile, as in many areas it is a form of provision considered relevant as

part of the overall accommodation and care offer available within the District.

3.7.2 We have not been able to identify or been provided with any recent development

examples or other comparables / guides as to likely financial assumptions associated

with this form of development in the District. In the absence of such information, it

has been necessary to make high level assumptions as befits this level of study, and

in a similar way to that carried out for other development types, explore what would

need to change within the assumptions to create scenarios with reasonable viability

prospects.

3.7.3 On the assumptions applied, based around a typical suburban low rise development

for this type of use, we have found a very similar tone of results to those associated

with hotels. Therefore, similarly, our evidence suggests poor viability prospects

unless assumptions are moved in favour of viability by increasing values and / or

reducing costs from the levels assumed.

3.7.4 Based on very similar thinking to that above in relation to budget hotels, therefore,

currently we are not able to support any meaningful level of CIL scope in respect of

such developments. Within the general monitoring scenario, however, the Council

should keep this under review with respect to experience in practice, since this type

of provision as new build is not familiar in the District. It remains to be seen in what

guise and t what degree, if at all, it could begin to come forward if sufficiently led by

the demands of an ageing population.

3.7.5 A zero (£0) CIL charging rate is recommended.



3.8 Other uses – including Community Uses

3.8.1 Following our extensive iterative review process, throughout this assessment we can

see that once values fall to a certain level there is simply not enough development

revenue to support the developments costs, even before CIL scope is considered (i.e.

where adding CIL cost simply increases the nominal or negative numbers produced

by the residual land value results – makes the RLVs, and therefore viability prospects,

lower or moves them further into negative).

3.8.2 In such scenarios, a level of CIL charge or other similar degree of added cost in any

form would not usually be the single cause of a lack of viability. Such scenarios are

generally unviable in the sense we are studying here – as a starting point. This is

because they have either a very low or no real commercial value and yet the

development costs are often similar to equivalent types of commercial builds. We

regularly see that the even the build costs, and certainly the total costs, exceed levels

that can be supported based on any usual view of development viability. These are

often schemes that require financial support through some form of subsidy or

through the particular business plans of the organisations promoting and using them.

3.8.3 As will be seen below, there are a wide range of potential development types which

could come forward as new builds, but even collectively these are not likely to be

significant in terms of “lost opportunity” as regards CIL funding scope. We consider

that many of these uses would more frequently occupy existing / refurbished /

adapted premises.

3.8.4 A clear case in point will be community uses which generally either generate very low

or sub-market level income streams from various community groups and as a general

rule require very significant levels of subsidy to support their development cost; in

the main they are likely to be a long way from producing any meaningful CIL scope.

3.8.5 There are of course a range of other arguments in support of a distinct approach for

such uses. For example, in themselves, such facilities are generally contributing to the

wider availability of community infrastructure. They may even be the very types of

facilities that the pooled CIL contributions will ultimately support to some degree. For



all this, so far as we can see the guiding principle in considering the CIL regime as may

be applied to these types of scenarios remains their viability as new build scenarios.

3.8.6 In any event, from our viability perspective, a zero (£0) CIL rate is recommended in

these instances.

3.8.7 As a part of reviewing the viability prospects associated with a range of other uses,

we compared their estimated typical values (or range of values) – with reference to

values research from local entries in the VOA’s Rating List and with their likely build

cost levels (base build costs before external works and fees) sourced from BCIS. As

has been discussed above, where the relationship between these two key appraisal

ingredients is not favourable (i.e. where costs exceed or are not sufficiently

outweighed by values) then we can quickly see that we are no dealing with viable

development scenarios. The lack of positive relationship is often such that, even with

low land costs assumed, schemes will not be viable. Some of these types of new

developments may in any event be promoted / owned by charitable organisations

and thereby be exempt from CIL charging (as affordable housing is).

3.8.8 Figure 11 below provides examples of the review of relationship between values and

costs in a range of these other scenarios. This is not an exhaustive list by any mean,

but it enables us the gain a clear picture of the extent of development types which

(even if coming forward as new builds) would be unlikely to support CIL funding

scope so as to sufficiently outweigh the added viability burden and complication in

the local CIL regime.



Figure 11: Other uses – example value/cost relationships

Example

development

type

Annual

rental value

£/sq m

Indicative

capital value

Base build cost

–BCIS**

Viability

prospects and

Notes

Halls –

community halls,

etc

£10 - 30 £100 - 300 £1,481

(General

purpose halls)

Clear lack of

development

viability

Community

centres, clubs and

similar

£20 - 40 £200 - 400 £1,395

(Community

centres)

Clear lack of

development

viability

Garages & depots £40 – 75

(max £125)

£400 – 750

(max £1250)

£778

(Builders yards,

highways

depots and

similar)

Similar to low

grade industrial

(B uses) – costs

generally

exceed values

Storage – e.g. on

farms / other

Up to £60 -

90

Up to £600 -

900

£474 - £526

(agricultural

storage to

purpose built

warehouse)

As above –

assumed B type

uses. Costs

generally

exceed values.

No evidence in

support of

regular viability.

Surgeries / similar

£90 - 185 £900 – 1850

£1,410

(health centres,

clinics, group

practice

surgeries).

Insufficient

viability to

clearly out-

weigh costs on

a reliable basis.

Day nurseries £80 - 125 £800 - 1250 £1,580 Costs generally

exceed values.

Lack of

development

viability



Example

development

type

Annual

rental value

£/sq m

Indicative

capital value

Base build cost

–BCIS**

Viability

prospects and

Notes

Leisure – other

bowling / cinema

£115 - £125 £1533

(@7.5% yield)

£1,148 Likely marginal

development

viability at best.

Leisure – private

health / fitness

£120 £1600

@7.5%yield)

£1,683

(Gymnasia,

fitness centres

etc)

Costs outweigh

values. No

evidence in

support of

regular viability.

*£/sq m rough guide prior to all costs allowances (based on assumed 10% yield for illustrative purposes - unless stated

otherwise)

**excluding external works, fees, contingencies, sustainability additions, etc.

3.8.9 With the exception of retail linked uses, such as mentioned at 3.4.11 above, our

recommendation is for the Council to consider a zero (£0) CIL rate in respect of a

range of other uses. As in other cases, this could be reviewed in response to

monitoring information. Our over-riding view is that the frequency of other new build

scenarios that could support meaningful CIL scope is likely to be very limited.

3.8.10 As alternatives, and we understand that there is no guidance pointing either way, the

Council could consider leaving such other proposals to “default “ to a nominal rate;

or to a higher rate to capture contributions from a small number of developments -

but with the risk that others would present difficulties.

3.9 Charge Setting and CIL Rate Review

3.9.1 To further inform the Council’s rate setting and ongoing work, we have considered

the range of potential CIL rates that have been viability tested in terms of their

proportion of completed development value (sales value or ‘GDV’) and proportion of

development cost. In looking at proportion of cost, we have considered alternative

comparisons – firstly against build costs (including external works, fees and

contingency), and then at the potential CIL rates as a proportion of the wider

development costs.



3.9.2 The following figures (contained with the tables at Figures 12 to 19) do not relate to

the viability testing (they are not viability tested outcomes or recommendations)

beyond the fact that we have considered them at a selection of the potential CIL

(trial) rates tested for viability. The cost and values assumptions used to calculate the

following proportions are as assumed within the study. Please see the figures below.

Figure 12: CIL charging trial rates as % of Gross Development Value - Residential

CIL Charge (£/m²)

Value Level

1 2 3 4 5

£2,500 £3,000 £3,500 £4,000 £4,500

£75 3.0% 2.5% 2.1% 1.9% 1.7%

£100 4.0% 3.3% 2.9% 2.5% 2.2%

£125 5.0% 4.2% 3.6% 3.1% 2.8%

£150 6.0% 5.0% 4.3% 3.8% 3.3%

£175 7.0% 5.8% 5.0% 4.4% 3.9%

£200 8.0% 6.7% 5.7% 5.0% 4.4%

Figure 13: CIL charging trial rates as % of Gross Development Value – Commercial

Yield / Capitalised Rental Value (£ / m²)

Scheme Type 8.00% Yield 7.50% Yield 6.50% Yield

L M H L M H L M H

Large Retail - Supermarket £2,500 £3,125 £3,750 £2,667 £3,333 £4,000 £3,077 £3,846 £4,615

Large Retail – Retail

Warehouse £1,875 £2,500 £3,125 £2,000 £2,667 £3,333 £2,308 £3,077 £3,846

Small Retail / Other(A1-A5) £1,563 £1,875 £2,188 £1,667 £2,000 £2,333 £1,923 £2,308 £2,692

Budget hotel £1,875 £2,344 £2,813 £2,000 £2,500 £3,000 £2,308 £2,885 £3,462

Scheme Type CIL

Rate (£/m²)

8.00% yield 7.50% Yield 6.5% Yield

Low Med High Low Med High Low Med High

Large Retail - Supermarket

£50 2.0% 1.6% 1.3% 1.9% 1.5% 1.3% 1.6% 1.3% 1.1%

£100 4.0% 3.2% 2.7% 3.8% 3.0% 2.5% 3.3% 2.6% 2.2%

£150 6.0% 4.8% 4.0% 5.6% 4.5% 3.8% 4.9% 3.9% 3.3%

£200 8.0% 6.4% 5.3% 7.5% 6.0% 5.0% 6.5% 5.2% 4.3%

£250 10.0% 8.0% 6.7% 9.4% 7.5% 6.3% 8.1% 6.5% 5.4%



Scheme Type CIL

Rate (£/m²)

8.00% yield 7.50% Yield 6.5% Yield

Low Med High Low Med High Low Med High

Large Retail - Retail

Warehouse

£50 2.7% 2.0% 1.6% 2.5% 1.9% 1.5% 2.2% 1.6% 1.3%

£100 5.3% 4.0% 3.2% 5.0% 3.8% 3.0% 4.3% 3.3% 2.6%

£150 8.0% 6.0% 4.8% 7.5% 5.6% 4.5% 6.5% 4.9% 3.9%

£200 10.7% 8.0% 6.4% 10.0% 7.5% 6.0% 8.7% 6.5% 5.2%

£250 13.3% 10.0% 8.0% 12.5% 9.4% 7.5% 10.8% 8.1% 6.5%

Small Retail / Other(A1-A5)

£50 3.2% 2.7% 2.3% 3.0% 2.5% 2.1% 2.6% 2.2% 1.9%

£100 6.4% 5.3% 4.6% 6.0% 5.0% 4.3% 5.2% 4.3% 3.7%

£150 9.6% 8.0% 6.9% 9.0% 7.5% 6.4% 7.8% 6.5% 5.6%

£200 12.8% 10.7% 9.1% 12.0% 10.0% 8.6% 10.4% 8.7% 7.4%

£250 16.0% 13.3% 11.4% 15.0% 12.5% 10.7% 13.0% 10.8% 9.3%

Budget hotel

£50 2.7% 2.1% 1.8% 2.5% 2.0% 1.7% 2.2% 1.7% 1.4%

£100 5.3% 4.3% 3.6% 5.0% 4.0% 3.3% 4.3% 3.5% 2.9%

£150 8.0% 6.4% 5.3% 7.5% 6.0% 5.0% 6.5% 5.2% 4.3%

£200 10.7% 8.5% 7.1% 10.0% 8.0% 6.7% 8.7% 6.9% 5.8%

£250 13.3% 10.7% 8.9% 12.5% 10.0% 8.3% 10.8% 8.7% 7.2%

Figure 14: CIL charging trial rates as % of Build Cost – Residential

1-Unit: CIL Charge (£/m²)

Total Build Costs*

CIL Charge as % of

Cost

4+-Units: CIL Charge (£/m²)

Total Build Costs*

CIL Charge as % of

Cost £75

£2,082

3.6%

£75

£1,484

5.1%

£100 4.8%

£100 6.7%

£125 6.0%

£125 8.4%

£150 7.2%

£150 10.1%

£175 8.4%

£175 11.8%

£200 9.6%

£200 13.5%

*average including base build, externals, contingencies and fees



Figure 15: CIL charging trial rates as % of Build Cost – Commercial

Scheme Type CIL Rate (£/m²) Total Build

Costs* CIL Charge as %

of Cost


£50 £1,854 2.7%

£100 £1,854 5.4%

£150 £1,854 8.1%

£200 £1,854 10.8%

£250 £1,854 13.5%

Large Retail - Retail Warehouse

£50 £955 5.2%

£100 £955 10.5%

£150 £955 15.7%

£200 £955 20.9%

£250 £955 26.2%

Small Retail -convenience (and other related, comparison, A1-

A5)

£50 £1,165 4.3%

£100 £1,165 8.6%

£150 £1,165 12.9%

£200 £1,165 17.2%

£250 £1,165 21.5%

Budget hotel

£50 £2,170 2.3%

£100 £2,170 4.6%

£150 £2,170 6.9%

£200 £2,170 9.2%

£250 £2,170 11.5%

*average including base build, externals, contingencies and fees

Figure 16: CIL charging trial rates as % of Total Development Cost – Residential

1-Unit: CIL Charge (£/m²)

Total Development

Costs*

CIL Charge as % of

Cost

4+-Units:

CIL Charge (£/m²)

Total Development

Costs*

CIL Charge as % of

Cost

£75

£3,498

2.1%

£75

£2,812

2.7%

£100 2.9%

£100 3.6%

£125 3.6%

£125 4.4%

£150 4.3%

£150 5.3%

£175 5.0%

£175 6.2%

£200 5.7%

£200 7.1%

*total development cost assuming 20% developer profit and £3m/ha land value



Figure 17: CIL charging trial rates as % of Total Development Cost – Commercial

Scheme Type CIL Rate (£/m²)

Total Development

Costs*

CIL Charge as % of Cost


£50 £3,058 1.6%

£100 £3,058 3.3%

£150 £3,058 4.9%

£200 £3,058 6.5%

£250 £3,058 8.2%

Large Retail - Retail Warehouse

£50 £2,041 2.4%

£100 £2,041 4.9%

£150 £2,041 7.3%

£200 £2,041 9.8%

£250 £2,041 12.2%

Small Retail -convenience (and other related, comparison, A1-A5)

£50 £2,911 1.7%

£100 £2,911 3.4%

£150 £2,911 5.2%

£200 £2,911 6.9%

£250 £2,911 8.6%

Budget hotel

£50 £2,974 1.7%

£100 £2,974 3.4%

£150 £2,974 5.0%

£200 £2,974 6.7%

£250 £2,974 8.4%

3.9.3 The Council may also wish to consider potential charging rates in the context of levels

of existing planning obligations (sought and collected) – e.g. per dwelling or per

development. The following tables may assist in considering these comparisons (the

commercial scheme examples appraised are included here after the residential ones).



Figure 18: Residential CIL trial rates - Charge per Dwelling Equivalent

£75/m² CIL Charge

Scheme Size / Type Total Chargeable Floor Area (m²)

Total CIL Charge Equivalent Charge

per Private Dwelling

1 House 125 £9,375 £9,375

4 Houses 340 £25,500 £6,375

14 Mixed (0% AH) 1149 £86,175 £6,155

14 Mixed (30% AH) 780 £58,500 £6,500

14 Mixed (40% AH) 703 £52,725 £6,591

25 Mixed (30% AH) 1475 £110,625 £6,507

25 Mixed (40% AH) 1208 £90,600 £6,969

50 Mixed (40% AH) 2510 £188,250 £6,723

100 Mixed (40% AH) 4995 £374,625 £6,811

£100/m² CIL Charge


Total CIL Charge Equivalent Charge

per Private Dwelling

1 House 125 £12,500 £12,500

4 Houses 340 £34,000 £8,500

14 Mixed (0% AH) 1149 £114,900 £8,207

14 Mixed (30% AH) 780 £78,000 £8,667

15 Mixed (40% AH) 703 £70,300 £8,788

25 Mixed (30% AH) 1475 £147,500 £8,676

25 Mixed (40% AH) 1208 £120,800 £9,292

50 Mixed (40% AH) 2510 £251,000 £8,964

100 Mixed (40% AH) 4995 £499,500 £9,082





Total CIL Charge

Equivalent Charge per Private

Dwelling

1 House 125 £15,625 £15,625

4 Houses 340 £42,500 £10,625

14 Mixed (0% AH) 1149 £143,625 £10,259

14 Mixed (30% AH) 780 £97,500 £10,833

15 Mixed (40% AH) 703 £87,875 £10,984

25 Mixed (30% AH) 1475 £184,375 £10,846

25 Mixed (40% AH) 1208 £151,000 £11,615

50 Mixed (40% AH) 2510 £313,750 £11,205

100 Mixed (40% AH) 4995 £624,375 £11,352



Total CIL Charge


Dwelling

1 House 125 £18,750 £18,750

4 Houses 340 £51,000 £12,750

14 Mixed (0% AH) 1149 £172,350 £12,311

14 Mixed (30% AH) 780 £117,000 £13,000

15 Mixed (40% AH) 703 £105,450 £13,181

25 Mixed (30% AH) 1475 £221,250 £13,015

25 Mixed (40% AH) 1208 £181,200 £13,938

50 Mixed (40% AH) 2510 £376,500 £13,446

100 Mixed (40% AH) 4995 £749,250 £13,623



Total CIL Charge


Dwelling

1 House 125 £21,875 £21,875

4 Houses 340 £59,500 £14,875

14 Mixed (0% AH) 1149 £201,075 £14,363

14 Mixed (30% AH) 780 £136,500 £15,167

15 Mixed (40% AH) 703 £123,025 £15,378

25 Mixed (30% AH) 1475 £258,125 £15,184

25 Mixed (40% AH) 1208 £211,400 £16,262

50 Mixed (40% AH) 2510 £439,250 £15,688

100 Mixed (40% AH) 4995 £874,125 £15,893





Total CIL Charge


Dwelling

1 House 125 £25,000 £25,000

4 Houses 340 £68,000 £17,000

14 Mixed (0% AH) 1149 £229,800 £16,414

14 Mixed (30% AH) 780 £156,000 £17,333

15 Mixed (40% AH) 703 £140,600 £17,575

25 Mixed (30% AH) 1475 £295,000 £17,353

25 Mixed (40% AH) 1208 £241,600 £18,585

50 Mixed (40% AH) 2510 £502,000 £17,929

100 Mixed (40% AH) 4995 £999,000 £18,164

Figure 19: Commercial CIL trial rates - Charge per Dwelling Equivalent

£50/m² CIL Charge


Total CIL Charge

Large Retail - Supermarket 4000 £200,000

Large Retail - Retail Warehouse 1000 £50,000

Small Retail (principally convenience stores) 300 £15,000

Hotel 3000 £150,000



Total CIL Charge




Hotel 3000 £300,000





Total CIL Charge




Hotel 3000 £450,000



Total CIL Charge




Hotel 3000 £600,000



Total CIL Charge

Large Retail - Supermarket 4000 £1,000,000



Hotel 3000 £750,000

3.9.4 The Council may wish to use the above information to consider the potential CIL

charging rates recommended, and the wider potential rates / options, as part of its

balancing of objectives and overall assessment. Comparison of potential CIL charging

rates with current s.106 contributions levels could be a useful aspect for context /

benchmarking what the potential CIL rates mean in practice.



3.10 Summary – CIL rate and other recommendations

3.10.1 In summary, from a viability point of view we recommend the following parameters

for consideration by the District Council in taking forward the setting of a draft CIL

charging schedule:

A. Residential

Recommendation:

Dual rate approach - £125/sq m NW-SE central axis

(typically lower value zone)

- £150/sq m elsewhere

(typically higher value zones, north and south of central

axis)

(Alternative: single District wide rate not exceeding £125/sq m)

B. Retail – large (supermarket / retail warehousing)

Recommendation:

Rate not higher than £250/sq m

C. Retail – smaller/other (principally convenience stores but also applicable to all

other categories including A1-A5, comparison shopping and retail linked (e.g.

motor sales, retail warehousing/wholesaling clubs)

Recommendation:

Approximately half large retail rate – suggested not exceeding £125/sq m

D. Business Development - Office and Industrial (B1, B1a, B2, B8)

Recommendation:

Zero rate (£0)

E. Hotels and Care Homes

Recommendation:

Zero rate (£0) on balance in preference to a low / nominal rate

(Alternative: nominal / low CIL rate, but difficult to justify in viability terms)



F. Community and other uses

Recommendation:

Zero rate (£0) on balance in preference to a low / nominal rate

(Alternative: nominal / low CIL rate, but difficult to justify in viability terms)

3.10.2 Additional recommendation: To consider monitoring and review. The DCLG Charge

Setting Procedures (paragraph 75)6 state that: ‘The Government has not specified a

recommended lifetime for charging schedules and there is no requirement in the Act

placing charging authorities under a duty to review their charging schedules.

However, charging authorities are strongly encouraged to keep their charging

schedules under review. This is important to ensure that CIL charges remain

appropriate over time – for instance as market conditions change, and also so that

they remain relevant to the gap in the funding for the infrastructure needed to

support the development of their area. Although there is no fixed period or frequency

for this we recommend that the Council begins to consider its more detailed

implementation strategies around CIL, including how it will monitor and potentially

review CIL collection and levels – informed by the experience of operating it in

practice.’ (Italics section quoted from the CLG document).

3.10.3 Additional recommendation: To implement such monitoring processes and use

them to inform the future review of the local implementation of the CIL. The DCLG

CIL Overview7 document (at paragraphs 19 and 20) touches on the intended open

and transparent nature of the levy and in doing so states that charging authorities

must prepare short monitoring reports each year.

3.10.4 Additional recommendation: As has been the case with s.106 obligations, to

consider the scope (as far as permitted) to phase CIL payment timings where

needed as part of mitigation against scheme viability and / or delivery issues.

Through all of our development viability work, particularly in relation to larger

developments and especially longer running / phased residential schemes, we

6 DCLG – Community Infrastructure Levy Guidance – Charge Setting and Charging Schedule Procedures (March

2010) 7 DCLG – The Community Infrastructure Levy - An Overview (May 2011)



observe the impact that the particular timing of planning obligations have. The same

will apply to the payments due under the CIL. Front loading of significant costs can

impact development cash flows in a very detrimental way, as costs (negative

balances) are carried in advance of sales income counteracting those. Considering

the spreading of the cost burden to some extent - as far as may be permissible - even

on some smaller schemes, may well provide a useful tool for supporting viability in

the early stages. Allied to this, the Council may wish to consider the extent to which

pooled funds might be used to forward-fund or part fund key early infrastructure

elements that may be required to facilitate schemes progressing, or proceeding more

smoothly. This is not a new principle. Discussions with developers on the timing of

affordable housing provision and / or financial contribution obligations, for example,

could also continue to be important in this regard. In some cases, an affordable

housing element provides valuable and relatively secure cash flow; in others there

may be overall scheme benefits from phasing its provision differently.

Main text of study report ends.

November 2011.


Appendix I

Assumptions

D|S|P Housing and Development Consultants

Private Mix

Affordable

Tenure Split

66% AR; 34%

LCHO

Private Mix

Affordable

Tenure Split

66% AR; 34%

LCHO

1 House 1 x 4BH 30 1 x 4BH N/A N/A N/A

4 Houses 2 x 2BH; 2 x 3BH 30 2 x 2BH; 2 x 3BH N/A 2 x 2BH; 2 x 3BH N/A

14 Mixed (Urban)

2 x 1BF, 3 x 2BF; 2

x 2BH, 5 x 3BH, 2 x

4BH

50 N/A N/A

2 x 1BF, 3 x 2BF; 2

x 2BH, 5 x 3BH, 2

x 4BH

N/A

14 Mixed (Rural)2 x 1BF, 3 x 2BF; 2

x 2BH, 5 x 3BH, 2 x

4BH

502 x 1BF, 1 x 2BF;

4 x 3BH, 2 x 4BH

2 x 2BH, 1 x 3BH

AR; 2 x 2BF

LCHO

2 x 1BF; 1 x 2BH,

3 x 3BH, 2 x 4BH

1 x 2BH, 2 x 3BH

AR; 3 x 2BF

LCHO

25 Mixed

3 x 1BF, 5 x 2BF; 4

x 2BH, 9 x 3BH, 4 x

4BH

50

3 x 1BF, 2 x 2BF;

2 x 2BH, 6 x

3BH, 4 x 4BH

2 x 2BH, 3 x 3BH

AR, 3 x 2BF

LCHO

2 x 1BF, 1 x 2BF; 6

x 3BH, 4 x 4BH

4 x 2BH, 3 x 3BH

AR, 1 x 1BF, 4 x

2BF LCHO

50 Mixed

6 x 1BF, 10 x 2BF;

8 x 2BH, 18 x 3BH,

8 x 4BH

30 / 50 N/A N/A

5 x 1BF, 2 x 2BF; 2

x 2BH, 12 x 3BH, 7

x 4BH

6 x 2BH, 6 x

3BH, 1 x 4BH

AR, 1 x 1BF, 8 x

2BF LCHO

100 Mixed

12 x 1BF, 20 x 2BF;

16 x 2BH, 32 x

3BH, 16 x 4BH

30 / 50 N/A N/A

10 x 1BF, 4 x 2BF;

2 x 2BH, 24 x 3BH,

15 x 4BH

14 x 2BH, 12 x

3BH, 1 x 4BH

AR, 2 x 1BF, 16 x

2BF LCHO"N/A" indicates tenure mix not possible or where would be identical to higher or lower affordable housing proportion.

Unit Sizes (sq m) Affordable Private

1-bed flat 50 45

2-bed flat 67 60

2-bed house 75 75

3-bed house 85 95

4-bed house 110 125

Percentage Affordable Housing & Tenure Mix

Site Type

Residential Intensification /

Garden


Garden

Greenfield / Employment





Garden


Garden

30% Affordable Housing (Sites of

15 units or more in urban areas;

5 units or more in rural areas)

40% Affordable Housing on

Greenfield and Employment Sites

of 15 or more in urban areas and 5

units or more in rural areas.Likely Density

(dph)

Affordable housing based on proprotion of bedspaces. Target of 50% one and two bed properties, 50% three and four bed (or more) properties for affordable rent; all LCHO properties should be 1 & 2-bed properties

Site Size Appraised

Dwelling Mix (BF

= Bed Flat; BH =

Bed House

Wycombe District Council - Community Infrastructure Levy Viability Assessment - Residential Assumptions Sheet

Appendix I - Development Assumptions


1-bed flat £112,500 £135,000 £157,500 £180,000 £202,500

2-bed flat £150,000 £180,000 £210,000 £240,000 £270,000

2-bed house £187,500 £225,000 £262,500 £300,000 £337,500

3-bed house £237,500 £285,000 £332,500 £380,000 £427,500

4-bed house £312,500 £375,000 £437,500 £500,000 £562,500

Value (£ / m²) £2,500 £3,000 £3,500 £4,000 £4,500

Development Costs

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs Flats (Generally) (£/m²)1 £1,208

Build Costs Houses (Mixed Developments) (£/m²)1 £1,127

Build Costs - Houses (One Off Generally) (£/m²)1 £1,644

Site Preparation (£ / unit) £4,000

Survey Costs (£ / unit) £500

Contingencies (% of build cost) 5%

Professional Fees & Insurances (% of build cost) 15.0%

4%

Lifetime Homes / Other (£ per unit)3 £545

Planning obligations /non-CIL costs (£ per unit) £500

Marketing & Sales Costs (%of GDV) 3%

Legal Fees on sale (£ per unit) £600

DEVELOPER'S RETURN FOR RISK AND PROFIT

Open Market Housing Profit (% of GDV) 20.0%

Affordable Housing Profit (% of GDV) 6.0%

FINANCE & ACQUISITION COSTS

Arrangement Fee - (% of loan) 1.0%

Miscellaeneous (Surveyors etc) - per unit 0.00%

Agents Fees (% of site value) 0.75%

Legal Fees (% of site value) 0.75%

Stamp Duty (% of site value) 0% to 5%

Finance Rate - Build (%) 6.0%

Finance Rate - Land (%) 6.0%

Notes:

Build costs taken from 1st Quarter 2011 (i.e. not forecast) and rebased to Wycombe Location Factor of 108 without externals, contingencies or fees

Above build costs have externals at 21% for houses; 14% for flats added.

1 Build cost taken as "Median" figure from BCIS for that build type - e.g. flats ; houses storey heights etc and then rounded. Median figure gives a better figure than the Mean as it is not so influenced by rogue figures that can distort the mean on

small sample sizes. BCIS data: Flats (Generally): £1,015/m² GIA; Houses Mixed Development: £890/m²; one off housing: £1,299/m² GIA.

2 The above costs are based on the Cost of Building to the Code for Sustanable Homes - Updated Cost Review (August 2011) cost data assuming Building Regs 2010 baseline.

3 Allowance to achieve Lifetime Homes Standards acknowledged within report as potential variable cost issue (depending on design etc).There have been a number of studies into the costs and benefits of building to the Lifetime Homes standard.

These have concluded that the costs range from £545 to £1615 per dwelling, depending on: the experience of the home designer and builder; the size of the dwelling (it is easier to design larger dwellings that incorporate Lifetime Homes standards

cost effectively than smaller ones); whether Lifetime Homes design criteria were designed into developments from the outset or whether a standard house type is modified (it is more cost effective to incorporate the standards at the design stage

rather than modify standard designs); and any analysis of costs is a ‘snapshot' in time. The net cost of implementing Lifetime Homes will diminish as the concept is more widely adopted and as design standards, and market expectations, rise

(www.lifetimehomes.org.uk).

Open Market

Value

Sustainable Design / Construction Standards (% of

build cost)2 - Code Level 3 and 4

Value Level 5Value Level 4Value Level 3Value Level 1 Value Level 2

Appendix I - Development Assumptions

Low Mid High

A1 - Large Retail Large Supermarket - out of town 4000 35% 1.14 9 £200 £250 £300 £1,197 20% £1,436

A1 - Medium Retail Retail warehouse 1000 40% 0.25 7 £150 £200 £250 £610 20% £732

A1, A2, A3, A4, A5 - Small Retail Convenience Store - various locations 300 60% 0.05 3.5 £125 £150 £175 £753 20% £904

B1(a) Offices - Town Centre Office Building 1000 200% 0.05 6 £160 £190 £220 £1,394 20% £1,673

B1(a) Offices - Business Park Office Building 3000 40% 0.75 10 £170 £200 £230 £1,309 20% £1,571

B1 , B2, B8 - Industrial / Warehousing

Move-on type industrial unit including offices -

industrial estate (also trade counter / industrial estate

offices) 500 40% 0.13 6.5 £80 £90 £100 £792 20% £950

B1, B2, B8 - Industrial / Warehousing

Larger industrial / warehousing unit including offices -

industrial estate 3000 40% 0.75 8 £70 £80 £90 £631 20% £757

C1 - Hotel (budget - 120 rooms) Hotel - edge of town centre / edge of town 3000 50% 0.60 10 £150 £188 £225 £1,410 20% £1,692

C2 - Residential Institution Nursing Home 2100 60% 0.35 16 £160 £180 £200 £1,394 20% £1,673

D1/D2 - Institutional / Community / Health Clinic or similar 500 40% 0.13 7.5 £120 £150 £180 £1,390 20% £1,668

D2 - Leisure Fitness etc 2500 50% 0.50 12 £100 £120 £140 £1,675 20% £2,010

Other Sui Generi Variable - tested on values / costs relationship basis

Development Costs

Professional Fees (% of cost) 10%

Contingencies (% of cost) 5%

Planning / Building Regs etc / insurances (% of cost) 2.0%

Site survey / preparation costs Variable

Finance Costs

Finance rate (including over lead-in and letting / sales

period) 6.0%

Arrangement Fee (% of cost) 0.1%

Marketing Costs

Advertising Fees (% of annual income) 1%

Letting Fees (% of annual income) 10%

Developer Profit (% of GDV) 20%

Yields 8%

Site Acquisition Costs

Agents Fees (% of site value) 1%

Legal Fees (% of site value) 0.75%

Stamp Duty (% of value) 0 to 5%

*BCIS Median - Location Factor Wycombe (109); 3Q 2011

**BCIS Construction Duration Calculator

BCIS - Hypermarkets / Supermarkets - generally.

BCIS - Sports Buildings - Includes a range of uses (selected fitness centre, gymnasia)

BCIS - Community Centres - Generally

BCIS - Nursing Homes, convalescent homes, short stay medical homes

BCIS - Hotels

BCIS - Advance factories / offices - mixed facilities (B1)

BCIS - Advance factories / offices - mixed facilities (B1)

BCIS - Offices - 3-5 Storey; airconditioned

BCIS - Offices - 1-2 Storey; airconditioned

BCIS - Shops - Generally

BCIS - Retail warehouses - up to 1,000 sq m.

Use Class / TypeNotes:

Build Period

(Months)**

Site Size

(Ha)

Site

CoverageGIA (m²)Example Scheme Type

Values Range - Annual Rents £ per sq m Total Build

Cost (£/sq

External

works cost

Build Cost (£

per sq m)*

Wycombe District Council - Community Infrastructure Levy Viability Assessment - Commercial Assumptions Sheet


Appendix IIa

Residential Results Summaries

Value LevelSite Density

(dph)

Residual Land

Value - £0/m² CIL

Residual Land

Value - £25/m² CIL

Residual Land


Residual Land


Residual Land

Value - £100/m²

CIL

Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

CIL

Residual Land

Value - £250/m²

CIL

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land

Value - £100/m²

CIL

Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

CIL

Residual Land

Value - £250/m²

CIL

1 30 -£24,766 -£27,937 -£31,109 -£34,281 -£37,453 -£40,625 -£43,797 -£46,969 -£50,141 -£53,312 -£56,484 -£742,967 -£838,124 -£933,280 -£1,028,436 -£1,123,592 -£1,218,749 -£1,313,905 -£1,409,061 -£1,504,217 -£1,599,374 -£1,694,530 -£398 -£251

2 30 £20,819 £17,988 £15,158 £12,328 £9,497 £6,667 £3,837 £1,007 -£2,044 -£5,216 -£8,387 £624,556 £539,648 £454,740 £369,832 £284,924 £200,016 £115,108 £30,200 -£61,311 -£156,467 -£251,624 -£33 £113

3 30 £63,735 £60,905 £58,075 £55,245 £52,414 £49,584 £46,754 £43,924 £41,093 £38,263 £35,433 £1,912,061 £1,827,153 £1,742,245 £1,657,337 £1,572,429 £1,487,521 £1,402,613 £1,317,705 £1,232,797 £1,147,890 £1,062,982 £310 £457

4 30 £106,652 £103,822 £100,992 £98,161 £95,331 £92,501 £89,671 £86,840 £84,010 £81,180 £78,350 £3,199,566 £3,114,658 £3,029,750 £2,944,842 £2,859,934 £2,775,026 £2,690,119 £2,605,211 £2,520,303 £2,435,395 £2,350,487 £653 £800

5 30 £149,569 £146,739 £143,909 £141,078 £138,248 £135,418 £132,587 £129,757 £126,927 £124,097 £121,266 £4,487,071 £4,402,163 £4,317,255 £4,232,348 £4,147,440 £4,062,532 £3,977,624 £3,892,716 £3,807,808 £3,722,900 £3,637,992 £997 £1,143

1 30 £129,755 £122,057 £114,359 £106,660 £98,962 £91,264 £83,565 £75,867 £68,169 £60,470 £52,772 £973,164 £915,427 £857,689 £799,952 £742,214 £684,477 £626,740 £569,002 £511,265 £453,527 £395,790 £88 £303

2 30 £246,489 £238,791 £231,092 £223,394 £215,696 £207,997 £200,299 £192,601 £184,902 £177,204 £169,506 £1,848,667 £1,790,930 £1,733,193 £1,675,455 £1,617,718 £1,559,981 £1,502,243 £1,444,506 £1,386,768 £1,329,031 £1,271,294 £431 £647

3 30 £363,223 £355,524 £347,826 £340,128 £332,430 £324,731 £317,033 £309,335 £301,636 £293,938 £286,240 £2,724,171 £2,666,434 £2,608,696 £2,550,959 £2,493,222 £2,435,484 £2,377,747 £2,320,009 £2,262,272 £2,204,535 £2,146,797 £774 £990

4 30 £468,553 £461,038 £453,523 £446,007 £438,492 £441,465 £433,767 £426,068 £418,370 £410,672 £402,973 £3,514,151 £3,457,785 £3,401,419 £3,345,054 £3,288,688 £3,310,988 £3,253,250 £3,195,513 £3,137,776 £3,080,038 £3,022,301 £1,084 £1,300

5 30 £582,514 £574,998 £567,483 £559,968 £552,452 £544,937 £537,421 £529,906 £522,390 £514,875 £507,360 £4,368,853 £4,312,488 £4,256,122 £4,199,756 £4,143,391 £4,087,025 £4,030,660 £3,974,294 £3,917,928 £3,861,563 £3,805,197 £1,419 £1,635

1 30 £409,287 £383,362 £357,437 £331,512 £305,586 £279,661 £253,736 £227,811 £201,885 £175,960 £150,035 £877,044 £821,490 £765,936 £710,382 £654,828 £599,274 £543,720 £488,166 £432,612 £377,058 £321,504 £52 £275

2 30 £783,341 £758,032 £732,723 £707,413 £682,104 £656,795 £631,486 £606,176 £580,867 £555,558 £530,249 £1,678,588 £1,624,354 £1,570,120 £1,515,886 £1,461,652 £1,407,418 £1,353,184 £1,298,949 £1,244,715 £1,190,481 £1,136,247 £377 £601

3 30 £1,167,119 £1,141,810 £1,116,501 £1,091,192 £1,065,882 £1,040,573 £1,015,264 £989,955 £964,645 £939,336 £914,027 £2,500,970 £2,446,736 £2,392,502 £2,338,268 £2,284,034 £2,229,800 £2,175,565 £2,121,331 £2,067,097 £2,012,863 £1,958,629 £711 £935

4 30 £1,550,898 £1,525,588 £1,500,279 £1,474,970 £1,449,661 £1,424,351 £1,399,042 £1,373,733 £1,348,424 £1,323,114 £1,297,805 £3,323,352 £3,269,118 £3,214,884 £3,160,650 £3,106,416 £3,052,182 £2,997,947 £2,943,713 £2,889,479 £2,835,245 £2,781,011 £1,045 £1,269

5 30 £1,934,676 £1,909,367 £1,884,057 £1,858,748 £1,833,439 £1,808,130 £1,782,820 £1,757,511 £1,732,202 £1,706,893 £1,681,583 £4,145,734 £4,091,500 £4,037,266 £3,983,032 £3,928,798 £3,874,564 £3,820,329 £3,766,095 £3,711,861 £3,657,627 £3,603,393 £1,379 £1,603

1 30 £190,350 £172,872 £155,393 £137,914 £120,435 £102,956 £85,478 £67,999 £50,520 £33,041 £15,562 £407,894 £370,439 £332,985 £295,530 £258,075 £220,621 £183,166 £145,712 £108,257 £70,802 £33,348 -£205 £1242 30 £524,539 £507,489 £490,439 £473,389 £456,338 £439,288 £432,854 £415,375 £397,897 £380,418 £362,939 £1,124,012 £1,087,476 £1,050,940 £1,014,404 £977,868 £941,332 £927,545 £890,090 £852,636 £815,181 £777,727 £224 £5533 30 £863,396 £846,346 £829,296 £812,246 £795,195 £778,145 £761,095 £744,045 £726,995 £709,945 £692,895 £1,850,134 £1,813,598 £1,777,062 £1,740,526 £1,703,990 £1,667,454 £1,630,918 £1,594,382 £1,557,846 £1,521,310 £1,484,774 £658 £9874 30 £1,153,829 £1,136,779 £1,119,728 £1,102,678 £1,085,628 £1,068,578 £1,051,528 £1,034,478 £1,017,428 £1,000,378 £983,328 £2,472,490 £2,435,954 £2,399,418 £2,362,882 £2,326,346 £2,289,810 £2,253,274 £2,216,738 £2,180,202 £2,143,666 £2,107,130 £1,031 £1,3605 30 £1,444,262 £1,427,211 £1,410,161 £1,393,111 £1,376,061 £1,359,011 £1,341,961 £1,324,911 £1,307,861 £1,290,810 £1,273,760 £3,094,846 £3,058,310 £3,021,774 £2,985,238 £2,948,702 £2,912,166 £2,875,630 £2,839,094 £2,802,558 £2,766,022 £2,729,486 £1,403 £1,732

1 30 £155,947 £140,260 £124,574 £108,888 £93,202 £77,516 £61,830 £46,144 £30,458 £14,772 -£1,043 £334,171 £300,558 £266,945 £233,332 £199,719 £166,106 £132,493 £98,880 £65,266 £31,653 -£2,236 -£276 £892 30 £483,657 £468,355 £453,054 £437,752 £433,073 £417,386 £401,700 £386,014 £370,328 £354,642 £338,956 £1,036,407 £1,003,618 £970,830 £938,041 £928,013 £894,399 £860,786 £827,173 £793,560 £759,947 £726,334 £190 £5553 30 £815,191 £799,890 £784,589 £769,287 £753,986 £738,684 £723,383 £708,082 £692,780 £677,479 £662,177 £1,746,839 £1,714,050 £1,681,261 £1,648,473 £1,615,684 £1,582,895 £1,550,107 £1,517,318 £1,484,529 £1,451,740 £1,418,952 £662 £1,0274 30 £1,096,241 £1,080,940 £1,065,639 £1,050,337 £1,035,036 £1,019,734 £1,004,433 £989,132 £973,830 £958,529 £943,228 £2,349,089 £2,316,300 £2,283,511 £2,250,723 £2,217,934 £2,185,145 £2,152,357 £2,119,568 £2,086,779 £2,053,990 £2,021,202 £1,062 £1,4275 30 £1,377,291 £1,361,990 £1,346,689 £1,331,387 £1,316,086 £1,300,784 £1,285,483 £1,270,182 £1,254,880 £1,239,579 £1,224,278 £2,951,339 £2,918,550 £2,885,761 £2,852,973 £2,820,184 £2,787,395 £2,754,607 £2,721,818 £2,689,029 £2,656,241 £2,623,452 £1,461 £1,826

1 30 £353,531 £320,831 £288,131 £255,431 £222,731 £190,031 £157,331 £124,631 £91,931 £59,232 £26,532 £424,237 £384,997 £345,757 £306,518 £267,278 £228,038 £188,798 £149,558 £110,318 £71,078 £31,838 -£184 £1272 30 £952,264 £920,392 £888,521 £856,649 £824,777 £792,905 £761,033 £729,161 £697,289 £665,417 £633,545 £1,142,717 £1,104,471 £1,066,225 £1,027,978 £989,732 £951,486 £913,239 £874,993 £836,746 £798,500 £760,254 £222 £5333 30 £1,559,950 £1,528,078 £1,496,206 £1,464,334 £1,432,462 £1,400,590 £1,368,718 £1,336,846 £1,304,974 £1,273,102 £1,241,230 £1,871,939 £1,833,693 £1,795,447 £1,757,200 £1,718,954 £1,680,708 £1,642,461 £1,604,215 £1,565,969 £1,527,722 £1,489,476 £634 £9454 30 £2,085,759 £2,053,887 £2,022,015 £1,990,143 £1,958,272 £1,926,400 £1,894,528 £1,862,656 £1,830,784 £1,798,912 £1,767,040 £2,502,911 £2,464,665 £2,426,419 £2,388,172 £2,349,926 £2,311,679 £2,273,433 £2,235,187 £2,196,940 £2,158,694 £2,120,448 £990 £1,3015 30 £2,611,569 £2,579,697 £2,547,825 £2,515,953 £2,484,081 £2,452,209 £2,420,337 £2,388,466 £2,356,594 £2,324,722 £2,292,850 £3,133,883 £3,095,637 £3,057,390 £3,019,144 £2,980,898 £2,942,651 £2,904,405 £2,866,159 £2,827,912 £2,789,666 £2,751,420 £1,347 £1,658

1 30 £219,835 £192,788 £165,741 £138,695 £111,648 £84,601 £57,554 £30,508 £3,461 -£27,395 -£58,810 £263,802 £231,346 £198,890 £166,434 £133,977 £101,521 £69,065 £36,609 £4,153 -£32,874 -£70,572 -£335 £442 30 £798,999 £772,637 £746,275 £719,913 £693,551 £667,189 £640,827 £614,465 £588,103 £561,741 £535,380 £958,798 £927,164 £895,530 £863,895 £832,261 £800,627 £768,993 £737,358 £705,724 £674,090 £642,455 £144 £5233 30 £1,383,729 £1,357,367 £1,331,005 £1,304,643 £1,278,281 £1,251,919 £1,225,557 £1,199,195 £1,172,833 £1,146,472 £1,120,110 £1,660,474 £1,628,840 £1,597,206 £1,565,572 £1,533,937 £1,502,303 £1,470,669 £1,439,034 £1,407,400 £1,375,766 £1,344,132 £628 £1,0084 30 £1,856,259 £1,829,898 £1,803,536 £1,777,174 £1,750,812 £1,724,450 £1,698,088 £1,671,726 £1,645,364 £1,619,002 £1,592,640 £2,227,511 £2,195,877 £2,164,243 £2,132,608 £2,100,974 £2,069,340 £2,037,706 £2,006,071 £1,974,437 £1,942,803 £1,911,169 £1,019 £1,3995 30 £2,328,790 £2,302,428 £2,276,066 £2,249,705 £2,223,343 £2,196,981 £2,170,619 £2,144,257 £2,117,895 £2,091,533 £2,065,171 £2,794,548 £2,762,914 £2,731,280 £2,699,645 £2,668,011 £2,636,377 £2,604,743 £2,573,108 £2,541,474 £2,509,840 £2,478,206 £1,410 £1,790

1 30 £377,490 £323,090 £268,690 £214,290 £159,890 £105,490 £51,090 -£3,989 -£69,563 -£135,137 -£200,711 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£348 £18

2 30 £1,493,629 £1,440,698 £1,387,767 £1,334,836 £1,281,904 £1,228,973 £1,176,042 £1,123,111 £1,070,180 £1,017,249 £964,318 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! £97 £462

3 30 £2,619,960 £2,567,029 £2,514,098 £2,461,167 £2,408,236 £2,355,305 £2,302,373 £2,249,442 £2,196,511 £2,143,580 £2,090,649 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! £546 £911

4 30 £3,538,318 £3,485,387 £3,432,456 £3,379,525 £3,326,594 £3,273,663 £3,220,731 £3,167,800 £3,114,869 £3,061,938 £3,009,007 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! £912 £1,277

5 30 £4,456,676 £4,403,745 £4,350,814 £4,297,883 £4,244,952 £4,192,021 £4,139,089 £4,086,158 £4,033,227 £3,980,296 £3,927,365 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! £1,278 £1,643

1 30 £547,016 £444,398 £351,920 £246,258 £140,595 £34,933 -£88,606 -£220,973 -£353,341 -£485,708 -£618,076 £164,105 £133,319 £105,576 £73,877 £42,179 £10,480 -£26,582 -£66,292 -£106,002 -£145,712 -£185,423 -£391 -£242 30 £2,709,328 £2,606,710 £2,504,092 £2,401,474 £2,298,856 £2,196,238 £2,093,620 £1,991,002 £1,888,384 £1,785,767 £1,683,149 £812,798 £782,013 £751,228 £720,442 £689,657 £658,871 £628,086 £597,301 £566,515 £535,730 £504,945 £42 £4093 30 £4,871,639 £4,769,022 £4,666,404 £4,563,786 £4,461,168 £4,358,550 £4,255,932 £4,153,314 £4,050,696 £3,948,078 £3,845,460 £1,461,492 £1,430,706 £1,399,921 £1,369,136 £1,338,350 £1,307,565 £1,276,780 £1,245,994 £1,215,209 £1,184,423 £1,153,638 £475 £8424 30 £6,627,203 £6,524,585 £6,421,967 £6,319,349 £6,216,731 £6,114,114 £6,011,496 £5,908,878 £5,806,260 £5,703,642 £5,601,024 £1,988,161 £1,957,376 £1,926,590 £1,895,805 £1,865,019 £1,834,234 £1,803,449 £1,772,663 £1,741,878 £1,711,093 £1,680,307 £826 £1,1935 30 £8,382,767 £8,280,149 £8,177,531 £8,074,913 £7,972,295 £7,869,677 £7,767,059 £7,664,441 £7,561,823 £7,459,206 £7,356,588 £2,514,830 £2,484,045 £2,453,259 £2,422,474 £2,391,689 £2,360,903 £2,330,118 £2,299,332 £2,268,547 £2,237,762 £2,206,976 £1,178 £1,545

Key: RLV at or below lower assumed greenfield enhancement value (c£200,000/Ha)

RLV between lower and upper assumed greenfield enhancement value (c£200,000/Ha - £750,000/Ha)

RLV at or above upper assumed greenfield enhancement value (c£750,000/Ha)

*based on corresponding benchmark rangeSource: Dixon Searle LLP (September 2011)

Max CIL (£/m²) -

High EUV

Benchmark

Max CIL (£/m²) - Low

EUV Benchmark

Mixed (30%AH)

Development Scenario

Residual Land Value (£/Ha)Residual Land Value (£)

Houses

4

Mixed (Urban - 0%

AH)

Mixed (Rural - 30%

AH)

14Mixed (Rural - 40%

AH)

14

14

25

Houses

1

Mixed (40% AH)100

25 Mixed (40% AH)

50 Mixed (40% AH)

Table 1: Residual Land Value Results by Scheme Type, Value Level & CIL Rate 66% Affordable Rent/34% LCHO - Greenfield Benchmark Comparison - 30 DPH

D|S|P Housing Development Consultants Appendix IIa


(dph)

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land

Value - £100/m²

CIL

Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

CIL

Residual Land

Value - £250/m²

CIL

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land

Value - £100/m²

CIL

Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

CIL

Residual Land

Value - £250/m²

CIL

1 50 -£24,766 -£27,937 -£31,109 -£34,281 -£37,453 -£40,625 -£43,797 -£46,969 -£50,141 -£53,312 -£56,484 -£1,238,279 -£1,396,873 -£1,555,466 -£1,714,060 -£1,872,654 -£2,031,248 -£2,189,841 -£2,348,435 -£2,507,029 -£2,665,623 -£2,824,216 -£438 -£318

2 50 £20,819 £17,988 £15,158 £12,328 £9,497 £6,667 £3,837 £1,007 -£2,044 -£5,216 -£8,387 £1,040,926 £899,413 £757,900 £616,386 £474,873 £333,360 £191,847 £50,334 -£102,185 -£260,779 -£419,373 -£73 £47

3 50 £63,735 £60,905 £58,075 £55,245 £52,414 £49,584 £46,754 £43,924 £41,093 £38,263 £35,433 £3,186,768 £3,045,255 £2,903,742 £2,762,228 £2,620,715 £2,479,202 £2,337,689 £2,196,176 £2,054,662 £1,913,149 £1,771,636 £270 £390

4 50 £106,652 £103,822 £100,992 £98,161 £95,331 £92,501 £89,671 £86,840 £84,010 £81,180 £78,350 £5,332,610 £5,191,097 £5,049,584 £4,908,070 £4,766,557 £4,625,044 £4,483,531 £4,342,018 £4,200,504 £4,058,991 £3,917,478 £613 £733

5 50 £149,569 £146,739 £143,909 £141,078 £138,248 £135,418 £132,587 £129,757 £126,927 £124,097 £121,266 £7,478,452 £7,336,939 £7,195,426 £7,053,913 £6,912,399 £6,770,886 £6,629,373 £6,487,860 £6,346,347 £6,204,833 £6,063,320 £957 £1,077

1 50 £129,755 £122,057 £114,359 £106,660 £98,962 £91,264 £83,565 £75,867 £68,169 £60,470 £52,772 £1,621,940 £1,525,711 £1,429,482 £1,333,253 £1,237,024 £1,140,795 £1,044,566 £948,337 £852,108 £755,879 £659,650 £29 £205

2 50 £246,489 £238,791 £231,092 £223,394 £215,696 £207,997 £200,299 £192,601 £184,902 £177,204 £169,506 £3,081,112 £2,984,884 £2,888,655 £2,792,426 £2,696,197 £2,599,968 £2,503,739 £2,407,510 £2,311,281 £2,215,052 £2,118,823 £372 £548

3 50 £363,223 £355,524 £347,826 £340,128 £332,430 £324,731 £317,033 £309,335 £301,636 £293,938 £286,240 £4,540,285 £4,444,056 £4,347,827 £4,251,598 £4,155,369 £4,059,140 £3,962,911 £3,866,682 £3,770,453 £3,674,224 £3,577,995 £715 £892

4 50 £468,553 £461,038 £453,523 £446,007 £438,492 £441,465 £433,767 £426,068 £418,370 £410,672 £402,973 £5,856,918 £5,762,975 £5,669,032 £5,575,090 £5,481,147 £5,518,313 £5,422,084 £5,325,855 £5,229,626 £5,133,397 £5,037,168 £1,025 £1,202

5 50 £582,514 £574,998 £567,483 £559,968 £552,452 £544,937 £537,421 £529,906 £522,390 £514,875 £507,360 £7,281,422 £7,187,479 £7,093,537 £6,999,594 £6,905,651 £6,811,709 £6,717,766 £6,623,823 £6,529,880 £6,435,938 £6,341,995 £1,360 £1,537

1 50 £409,287 £383,362 £357,437 £331,512 £305,586 £279,661 £253,736 £227,811 £201,885 £175,960 £150,035 £1,461,740 £1,369,150 £1,276,560 £1,183,970 £1,091,380 £998,790 £906,200 £813,609 £721,019 £628,429 £535,839 -£9 £173

2 50 £783,341 £758,032 £732,723 £707,413 £682,104 £656,795 £631,486 £606,176 £580,867 £555,558 £530,249 £2,797,647 £2,707,257 £2,616,867 £2,526,477 £2,436,086 £2,345,696 £2,255,306 £2,164,916 £2,074,525 £1,984,135 £1,893,745 £316 £499

3 50 £1,167,119 £1,141,810 £1,116,501 £1,091,192 £1,065,882 £1,040,573 £1,015,264 £989,955 £964,645 £939,336 £914,027 £4,168,284 £4,077,894 £3,987,503 £3,897,113 £3,806,723 £3,716,333 £3,625,942 £3,535,552 £3,445,162 £3,354,772 £3,264,382 £650 £833

4 50 £1,550,898 £1,525,588 £1,500,279 £1,474,970 £1,449,661 £1,424,351 £1,399,042 £1,373,733 £1,348,424 £1,323,114 £1,297,805 £5,538,920 £5,448,530 £5,358,140 £5,267,750 £5,177,360 £5,086,969 £4,996,579 £4,906,189 £4,815,799 £4,725,408 £4,635,018 £984 £1,167

5 50 £1,934,676 £1,909,367 £1,884,057 £1,858,748 £1,833,439 £1,808,130 £1,782,820 £1,757,511 £1,732,202 £1,706,893 £1,681,583 £6,909,557 £6,819,167 £6,728,777 £6,638,386 £6,547,996 £6,457,606 £6,367,216 £6,276,825 £6,186,435 £6,096,045 £6,005,655 £1,318 £1,501

1 50 £190,350 £172,872 £155,393 £137,914 £120,435 £102,956 £85,478 £67,999 £50,520 £33,041 £15,562 £679,823 £617,399 £554,974 £492,550 £430,126 £367,701 £305,277 £242,853 £180,428 £118,004 £55,580 -£294 -£252 50 £524,539 £507,489 £490,439 £473,389 £456,338 £439,288 £432,854 £415,375 £397,897 £380,418 £362,939 £1,873,353 £1,812,460 £1,751,567 £1,690,673 £1,629,780 £1,568,887 £1,545,908 £1,483,484 £1,421,060 £1,358,635 £1,296,211 £134 £4033 50 £863,396 £846,346 £829,296 £812,246 £795,195 £778,145 £761,095 £744,045 £726,995 £709,945 £692,895 £3,083,557 £3,022,664 £2,961,770 £2,900,877 £2,839,984 £2,779,090 £2,718,197 £2,657,304 £2,596,410 £2,535,517 £2,474,624 £568 £8384 50 £1,153,829 £1,136,779 £1,119,728 £1,102,678 £1,085,628 £1,068,578 £1,051,528 £1,034,478 £1,017,428 £1,000,378 £983,328 £4,120,817 £4,059,924 £3,999,030 £3,938,137 £3,877,244 £3,816,350 £3,755,457 £3,694,564 £3,633,671 £3,572,777 £3,511,884 £941 £1,2105 50 £1,444,262 £1,427,211 £1,410,161 £1,393,111 £1,376,061 £1,359,011 £1,341,961 £1,324,911 £1,307,861 £1,290,810 £1,273,760 £5,158,077 £5,097,184 £5,036,290 £4,975,397 £4,914,504 £4,853,611 £4,792,717 £4,731,824 £4,670,931 £4,610,037 £4,549,144 £1,313 £1,582

1 50 £155,947 £140,260 £124,574 £108,888 £93,202 £77,516 £61,830 £46,144 £30,458 £14,772 -£1,043 £556,952 £500,930 £444,908 £388,886 £332,865 £276,843 £220,821 £164,799 £108,777 £52,756 -£3,726 -£376 -£772 50 £483,657 £468,355 £453,054 £437,752 £433,073 £417,386 £401,700 £386,014 £370,328 £354,642 £338,956 £1,727,345 £1,672,697 £1,618,049 £1,563,402 £1,546,688 £1,490,666 £1,434,644 £1,378,622 £1,322,600 £1,266,579 £1,210,557 £91 £3893 50 £815,191 £799,890 £784,589 £769,287 £753,986 £738,684 £723,383 £708,082 £692,780 £677,479 £662,177 £2,911,398 £2,856,750 £2,802,102 £2,747,454 £2,692,807 £2,638,159 £2,583,511 £2,528,863 £2,474,215 £2,419,567 £2,364,920 £562 £8614 50 £1,096,241 £1,080,940 £1,065,639 £1,050,337 £1,035,036 £1,019,734 £1,004,433 £989,132 £973,830 £958,529 £943,228 £3,915,148 £3,860,500 £3,805,852 £3,751,204 £3,696,557 £3,641,909 £3,587,261 £3,532,613 £3,477,965 £3,423,317 £3,368,670 £962 £1,2615 50 £1,377,291 £1,361,990 £1,346,689 £1,331,387 £1,316,086 £1,300,784 £1,285,483 £1,270,182 £1,254,880 £1,239,579 £1,224,278 £4,918,898 £4,864,250 £4,809,602 £4,754,954 £4,700,307 £4,645,659 £4,591,011 £4,536,363 £4,481,715 £4,427,068 £4,372,420 £1,362 £1,660

1 50 £353,531 £320,831 £288,131 £255,431 £222,731 £190,031 £157,331 £124,631 £91,931 £59,232 £26,532 £707,062 £641,662 £576,262 £510,863 £445,463 £380,063 £314,663 £249,263 £183,863 £118,463 £53,063 -£269 -£152 50 £952,264 £920,392 £888,521 £856,649 £824,777 £792,905 £761,033 £729,161 £697,289 £665,417 £633,545 £1,904,529 £1,840,785 £1,777,041 £1,713,297 £1,649,553 £1,585,809 £1,522,065 £1,458,321 £1,394,577 £1,330,834 £1,267,090 £137 £3913 50 £1,559,950 £1,528,078 £1,496,206 £1,464,334 £1,432,462 £1,400,590 £1,368,718 £1,336,846 £1,304,974 £1,273,102 £1,241,230 £3,119,899 £3,056,155 £2,992,411 £2,928,667 £2,864,923 £2,801,179 £2,737,435 £2,673,691 £2,609,948 £2,546,204 £2,482,460 £549 £8034 50 £2,085,759 £2,053,887 £2,022,015 £1,990,143 £1,958,272 £1,926,400 £1,894,528 £1,862,656 £1,830,784 £1,798,912 £1,767,040 £4,171,519 £4,107,775 £4,044,031 £3,980,287 £3,916,543 £3,852,799 £3,789,055 £3,725,311 £3,661,567 £3,597,823 £3,534,079 £906 £1,1605 50 £2,611,569 £2,579,697 £2,547,825 £2,515,953 £2,484,081 £2,452,209 £2,420,337 £2,388,466 £2,356,594 £2,324,722 £2,292,850 £5,223,139 £5,159,395 £5,095,651 £5,031,907 £4,968,163 £4,904,419 £4,840,675 £4,776,931 £4,713,187 £4,649,443 £4,585,699 £1,262 £1,516

1 50 £219,835 £192,788 £165,741 £138,695 £111,648 £84,601 £57,554 £30,508 £3,461 -£27,395 -£58,810 £439,670 £385,576 £331,483 £277,389 £223,296 £169,202 £115,109 £61,015 £6,922 -£54,790 -£117,620 -£439 -£1282 50 £798,999 £772,637 £746,275 £719,913 £693,551 £667,189 £640,827 £614,465 £588,103 £561,741 £535,380 £1,597,997 £1,545,273 £1,492,549 £1,439,826 £1,387,102 £1,334,378 £1,281,654 £1,228,930 £1,176,207 £1,123,483 £1,070,759 £41 £3513 50 £1,383,729 £1,357,367 £1,331,005 £1,304,643 £1,278,281 £1,251,919 £1,225,557 £1,199,195 £1,172,833 £1,146,472 £1,120,110 £2,767,457 £2,714,733 £2,662,010 £2,609,286 £2,556,562 £2,503,838 £2,451,114 £2,398,391 £2,345,667 £2,292,943 £2,240,219 £525 £8354 50 £1,856,259 £1,829,898 £1,803,536 £1,777,174 £1,750,812 £1,724,450 £1,698,088 £1,671,726 £1,645,364 £1,619,002 £1,592,640 £3,712,519 £3,659,795 £3,607,071 £3,554,347 £3,501,624 £3,448,900 £3,396,176 £3,343,452 £3,290,728 £3,238,005 £3,185,281 £916 £1,2265 50 £2,328,790 £2,302,428 £2,276,066 £2,249,705 £2,223,343 £2,196,981 £2,170,619 £2,144,257 £2,117,895 £2,091,533 £2,065,171 £4,657,580 £4,604,857 £4,552,133 £4,499,409 £4,446,685 £4,393,961 £4,341,238 £4,288,514 £4,235,790 £4,183,066 £4,130,343 £1,307 £1,617

1 50 £377,490 £323,090 £268,690 £214,290 £159,890 £105,490 £51,090 -£3,989 -£69,563 -£135,137 -£200,711 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£447 -£148

2 50 £1,493,629 £1,440,698 £1,387,767 £1,334,836 £1,281,904 £1,228,973 £1,176,042 £1,123,111 £1,070,180 £1,017,249 £964,318 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£3 £296



5 50 £4,456,676 £4,403,745 £4,350,814 £4,297,883 £4,244,952 £4,192,021 £4,139,089 £4,086,158 £4,033,227 £3,980,296 £3,927,365 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! £1,178 £1,477

1 50 £547,016 £444,398 £351,920 £246,258 £140,595 £34,933 -£88,606 -£220,973 -£353,341 -£485,708 -£618,076 £273,508 £222,199 £175,960 £123,129 £70,298 £17,466 -£44,303 -£110,487 -£176,670 -£242,854 -£309,038 -£491 -£1912 50 £2,709,328 £2,606,710 £2,504,092 £2,401,474 £2,298,856 £2,196,238 £2,093,620 £1,991,002 £1,888,384 £1,785,767 £1,683,149 £1,354,664 £1,303,355 £1,252,046 £1,200,737 £1,149,428 £1,098,119 £1,046,810 £995,501 £944,192 £892,883 £841,574 -£58 £2423 50 £4,871,639 £4,769,022 £4,666,404 £4,563,786 £4,461,168 £4,358,550 £4,255,932 £4,153,314 £4,050,696 £3,948,078 £3,845,460 £2,435,820 £2,384,511 £2,333,202 £2,281,893 £2,230,584 £2,179,275 £2,127,966 £2,076,657 £2,025,348 £1,974,039 £1,922,730 £375 £6754 50 £6,627,203 £6,524,585 £6,421,967 £6,319,349 £6,216,731 £6,114,114 £6,011,496 £5,908,878 £5,806,260 £5,703,642 £5,601,024 £3,313,602 £3,262,293 £3,210,984 £3,159,675 £3,108,366 £3,057,057 £3,005,748 £2,954,439 £2,903,130 £2,851,821 £2,800,512 £726 £1,0265 50 £8,382,767 £8,280,149 £8,177,531 £8,074,913 £7,972,295 £7,869,677 £7,767,059 £7,664,441 £7,561,823 £7,459,206 £7,356,588 £4,191,383 £4,140,074 £4,088,765 £4,037,456 £3,986,148 £3,934,839 £3,883,530 £3,832,221 £3,780,912 £3,729,603 £3,678,294 £1,078 £1,378

Key: RLV at or below lower assumed PDL non-residential value (c£750,000/Ha)

RLV between lower and upper assumed PDL non-residential value (c£750,000/Ha - £1,500,000/Ha)

RLV at or above upper assumed PDL non-residential value (c£1,500,000/Ha)


25 Mixed (40% AH)

100 Mixed (40% AH)

50 Mixed (40% AH)


AH)


AH)

25 Mixed (30%AH)

1 Houses

4 Houses

14Mixed (Urban - 0%

AH)

Max CIL (£/m²) -

High EUV

Benchmark


EUV Benchmark

Residual Land Value (£) Residual Land Value (£/Ha)


Table 2a: Residual Land Value Results by Scheme Type, Value Level & CIL Rate 66% Affordable Rent/34% LCHO - PDL Non-Residential Benchmark Comparison - 50 DPH



(dph)

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land

Value - £100/m²

CIL

Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

CIL

Residual Land

Value - £250/m²

CIL

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land

Value - £100/m²

CIL

Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

CIL

Residual Land

Value - £250/m²

CIL

1 30 -£24,766 -£27,937 -£31,109 -£34,281 -£37,453 -£40,625 -£43,797 -£46,969 -£50,141 -£53,312 -£56,484 -£742,967 -£838,124 -£933,280 -£1,028,436 -£1,123,592 -£1,218,749 -£1,313,905 -£1,409,061 -£1,504,217 -£1,599,374 -£1,694,530 -£598 -£398

2 30 £20,819 £17,988 £15,158 £12,328 £9,497 £6,667 £3,837 £1,007 -£2,044 -£5,216 -£8,387 £624,556 £539,648 £454,740 £369,832 £284,924 £200,016 £115,108 £30,200 -£61,311 -£156,467 -£251,624 -£233 -£33

3 30 £63,735 £60,905 £58,075 £55,245 £52,414 £49,584 £46,754 £43,924 £41,093 £38,263 £35,433 £1,912,061 £1,827,153 £1,742,245 £1,657,337 £1,572,429 £1,487,521 £1,402,613 £1,317,705 £1,232,797 £1,147,890 £1,062,982 £110 £310

4 30 £106,652 £103,822 £100,992 £98,161 £95,331 £92,501 £89,671 £86,840 £84,010 £81,180 £78,350 £3,199,566 £3,114,658 £3,029,750 £2,944,842 £2,859,934 £2,775,026 £2,690,119 £2,605,211 £2,520,303 £2,435,395 £2,350,487 £453 £653

5 30 £149,569 £146,739 £143,909 £141,078 £138,248 £135,418 £132,587 £129,757 £126,927 £124,097 £121,266 £4,487,071 £4,402,163 £4,317,255 £4,232,348 £4,147,440 £4,062,532 £3,977,624 £3,892,716 £3,807,808 £3,722,900 £3,637,992 £797 £997

1 30 £129,755 £122,057 £114,359 £106,660 £98,962 £91,264 £83,565 £75,867 £68,169 £60,470 £52,772 £973,164 £915,427 £857,689 £799,952 £742,214 £684,477 £626,740 £569,002 £511,265 £453,527 £395,790 -£207 £88

2 30 £246,489 £238,791 £231,092 £223,394 £215,696 £207,997 £200,299 £192,601 £184,902 £177,204 £169,506 £1,848,667 £1,790,930 £1,733,193 £1,675,455 £1,617,718 £1,559,981 £1,502,243 £1,444,506 £1,386,768 £1,329,031 £1,271,294 £137 £431

3 30 £363,223 £355,524 £347,826 £340,128 £332,430 £324,731 £317,033 £309,335 £301,636 £293,938 £286,240 £2,724,171 £2,666,434 £2,608,696 £2,550,959 £2,493,222 £2,435,484 £2,377,747 £2,320,009 £2,262,272 £2,204,535 £2,146,797 £480 £774

4 30 £468,553 £461,038 £453,523 £446,007 £438,492 £441,465 £433,767 £426,068 £418,370 £410,672 £402,973 £3,514,151 £3,457,785 £3,401,419 £3,345,054 £3,288,688 £3,310,988 £3,253,250 £3,195,513 £3,137,776 £3,080,038 £3,022,301 £790 £1,084

5 30 £582,514 £574,998 £567,483 £559,968 £552,452 £544,937 £537,421 £529,906 £522,390 £514,875 £507,360 £4,368,853 £4,312,488 £4,256,122 £4,199,756 £4,143,391 £4,087,025 £4,030,660 £3,974,294 £3,917,928 £3,861,563 £3,805,197 £1,125 £1,419

1 30 £409,287 £383,362 £357,437 £331,512 £305,586 £279,661 £253,736 £227,811 £201,885 £175,960 £150,035 £877,044 £821,490 £765,936 £710,382 £654,828 £599,274 £543,720 £488,166 £432,612 £377,058 £321,504 -£253 £52

2 30 £783,341 £758,032 £732,723 £707,413 £682,104 £656,795 £631,486 £606,176 £580,867 £555,558 £530,249 £1,678,588 £1,624,354 £1,570,120 £1,515,886 £1,461,652 £1,407,418 £1,353,184 £1,298,949 £1,244,715 £1,190,481 £1,136,247 £73 £377

3 30 £1,167,119 £1,141,810 £1,116,501 £1,091,192 £1,065,882 £1,040,573 £1,015,264 £989,955 £964,645 £939,336 £914,027 £2,500,970 £2,446,736 £2,392,502 £2,338,268 £2,284,034 £2,229,800 £2,175,565 £2,121,331 £2,067,097 £2,012,863 £1,958,629 £407 £711

4 30 £1,550,898 £1,525,588 £1,500,279 £1,474,970 £1,449,661 £1,424,351 £1,399,042 £1,373,733 £1,348,424 £1,323,114 £1,297,805 £3,323,352 £3,269,118 £3,214,884 £3,160,650 £3,106,416 £3,052,182 £2,997,947 £2,943,713 £2,889,479 £2,835,245 £2,781,011 £741 £1,045

5 30 £1,934,676 £1,909,367 £1,884,057 £1,858,748 £1,833,439 £1,808,130 £1,782,820 £1,757,511 £1,732,202 £1,706,893 £1,681,583 £4,145,734 £4,091,500 £4,037,266 £3,983,032 £3,928,798 £3,874,564 £3,820,329 £3,766,095 £3,711,861 £3,657,627 £3,603,393 £1,075 £1,379

1 30 £190,350 £172,872 £155,393 £137,914 £120,435 £102,956 £85,478 £67,999 £50,520 £33,041 £15,562 £407,894 £370,439 £332,985 £295,530 £258,075 £220,621 £183,166 £145,712 £108,257 £70,802 £33,348 -£653 -£2052 30 £524,539 £507,489 £490,439 £473,389 £456,338 £439,288 £432,854 £415,375 £397,897 £380,418 £362,939 £1,124,012 £1,087,476 £1,050,940 £1,014,404 £977,868 £941,332 £927,545 £890,090 £852,636 £815,181 £777,727 -£225 £2243 30 £863,396 £846,346 £829,296 £812,246 £795,195 £778,145 £761,095 £744,045 £726,995 £709,945 £692,895 £1,850,134 £1,813,598 £1,777,062 £1,740,526 £1,703,990 £1,667,454 £1,630,918 £1,594,382 £1,557,846 £1,521,310 £1,484,774 £209 £6584 30 £1,153,829 £1,136,779 £1,119,728 £1,102,678 £1,085,628 £1,068,578 £1,051,528 £1,034,478 £1,017,428 £1,000,378 £983,328 £2,472,490 £2,435,954 £2,399,418 £2,362,882 £2,326,346 £2,289,810 £2,253,274 £2,216,738 £2,180,202 £2,143,666 £2,107,130 £582 £1,0315 30 £1,444,262 £1,427,211 £1,410,161 £1,393,111 £1,376,061 £1,359,011 £1,341,961 £1,324,911 £1,307,861 £1,290,810 £1,273,760 £3,094,846 £3,058,310 £3,021,774 £2,985,238 £2,948,702 £2,912,166 £2,875,630 £2,839,094 £2,802,558 £2,766,022 £2,729,486 £954 £1,403

1 30 £155,947 £140,260 £124,574 £108,888 £93,202 £77,516 £61,830 £46,144 £30,458 £14,772 -£1,043 £334,171 £300,558 £266,945 £233,332 £199,719 £166,106 £132,493 £98,880 £65,266 £31,653 -£2,236 -£774 -£2762 30 £483,657 £468,355 £453,054 £437,752 £433,073 £417,386 £401,700 £386,014 £370,328 £354,642 £338,956 £1,036,407 £1,003,618 £970,830 £938,041 £928,013 £894,399 £860,786 £827,173 £793,560 £759,947 £726,334 -£308 £1903 30 £815,191 £799,890 £784,589 £769,287 £753,986 £738,684 £723,383 £708,082 £692,780 £677,479 £662,177 £1,746,839 £1,714,050 £1,681,261 £1,648,473 £1,615,684 £1,582,895 £1,550,107 £1,517,318 £1,484,529 £1,451,740 £1,418,952 £164 £6624 30 £1,096,241 £1,080,940 £1,065,639 £1,050,337 £1,035,036 £1,019,734 £1,004,433 £989,132 £973,830 £958,529 £943,228 £2,349,089 £2,316,300 £2,283,511 £2,250,723 £2,217,934 £2,185,145 £2,152,357 £2,119,568 £2,086,779 £2,053,990 £2,021,202 £564 £1,0625 30 £1,377,291 £1,361,990 £1,346,689 £1,331,387 £1,316,086 £1,300,784 £1,285,483 £1,270,182 £1,254,880 £1,239,579 £1,224,278 £2,951,339 £2,918,550 £2,885,761 £2,852,973 £2,820,184 £2,787,395 £2,754,607 £2,721,818 £2,689,029 £2,656,241 £2,623,452 £963 £1,461

1 30 £353,531 £320,831 £288,131 £255,431 £222,731 £190,031 £157,331 £124,631 £91,931 £59,232 £26,532 £424,237 £384,997 £345,757 £306,518 £267,278 £228,038 £188,798 £149,558 £110,318 £71,078 £31,838 -£608 -£1842 30 £952,264 £920,392 £888,521 £856,649 £824,777 £792,905 £761,033 £729,161 £697,289 £665,417 £633,545 £1,142,717 £1,104,471 £1,066,225 £1,027,978 £989,732 £951,486 £913,239 £874,993 £836,746 £798,500 £760,254 -£202 £2223 30 £1,559,950 £1,528,078 £1,496,206 £1,464,334 £1,432,462 £1,400,590 £1,368,718 £1,336,846 £1,304,974 £1,273,102 £1,241,230 £1,871,939 £1,833,693 £1,795,447 £1,757,200 £1,718,954 £1,680,708 £1,642,461 £1,604,215 £1,565,969 £1,527,722 £1,489,476 £210 £6344 30 £2,085,759 £2,053,887 £2,022,015 £1,990,143 £1,958,272 £1,926,400 £1,894,528 £1,862,656 £1,830,784 £1,798,912 £1,767,040 £2,502,911 £2,464,665 £2,426,419 £2,388,172 £2,349,926 £2,311,679 £2,273,433 £2,235,187 £2,196,940 £2,158,694 £2,120,448 £567 £9905 30 £2,611,569 £2,579,697 £2,547,825 £2,515,953 £2,484,081 £2,452,209 £2,420,337 £2,388,466 £2,356,594 £2,324,722 £2,292,850 £3,133,883 £3,095,637 £3,057,390 £3,019,144 £2,980,898 £2,942,651 £2,904,405 £2,866,159 £2,827,912 £2,789,666 £2,751,420 £923 £1,347

1 30 £219,835 £192,788 £165,741 £138,695 £111,648 £84,601 £57,554 £30,508 £3,461 -£27,395 -£58,810 £263,802 £231,346 £198,890 £166,434 £133,977 £101,521 £69,065 £36,609 £4,153 -£32,874 -£70,572 -£853 -£3352 30 £798,999 £772,637 £746,275 £719,913 £693,551 £667,189 £640,827 £614,465 £588,103 £561,741 £535,380 £958,798 £927,164 £895,530 £863,895 £832,261 £800,627 £768,993 £737,358 £705,724 £674,090 £642,455 -£373 £1443 30 £1,383,729 £1,357,367 £1,331,005 £1,304,643 £1,278,281 £1,251,919 £1,225,557 £1,199,195 £1,172,833 £1,146,472 £1,120,110 £1,660,474 £1,628,840 £1,597,206 £1,565,572 £1,533,937 £1,502,303 £1,470,669 £1,439,034 £1,407,400 £1,375,766 £1,344,132 £111 £6284 30 £1,856,259 £1,829,898 £1,803,536 £1,777,174 £1,750,812 £1,724,450 £1,698,088 £1,671,726 £1,645,364 £1,619,002 £1,592,640 £2,227,511 £2,195,877 £2,164,243 £2,132,608 £2,100,974 £2,069,340 £2,037,706 £2,006,071 £1,974,437 £1,942,803 £1,911,169 £502 £1,0195 30 £2,328,790 £2,302,428 £2,276,066 £2,249,705 £2,223,343 £2,196,981 £2,170,619 £2,144,257 £2,117,895 £2,091,533 £2,065,171 £2,794,548 £2,762,914 £2,731,280 £2,699,645 £2,668,011 £2,636,377 £2,604,743 £2,573,108 £2,541,474 £2,509,840 £2,478,206 £893 £1,410

1 30 £377,490 £323,090 £268,690 £214,290 £159,890 £105,490 £51,090 -£3,989 -£69,563 -£135,137 -£200,711 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£846 -£348

2 30 £1,493,629 £1,440,698 £1,387,767 £1,334,836 £1,281,904 £1,228,973 £1,176,042 £1,123,111 £1,070,180 £1,017,249 £964,318 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£401 £97




1 30 £547,016 £444,398 £351,920 £246,258 £140,595 £34,933 -£88,606 -£220,973 -£353,341 -£485,708 -£618,076 £164,105 £133,319 £105,576 £73,877 £42,179 £10,480 -£26,582 -£66,292 -£106,002 -£145,712 -£185,423 -£891 -£3912 30 £2,709,328 £2,606,710 £2,504,092 £2,401,474 £2,298,856 £2,196,238 £2,093,620 £1,991,002 £1,888,384 £1,785,767 £1,683,149 £812,798 £782,013 £751,228 £720,442 £689,657 £658,871 £628,086 £597,301 £566,515 £535,730 £504,945 -£459 £423 30 £4,871,639 £4,769,022 £4,666,404 £4,563,786 £4,461,168 £4,358,550 £4,255,932 £4,153,314 £4,050,696 £3,948,078 £3,845,460 £1,461,492 £1,430,706 £1,399,921 £1,369,136 £1,338,350 £1,307,565 £1,276,780 £1,245,994 £1,215,209 £1,184,423 £1,153,638 -£26 £4754 30 £6,627,203 £6,524,585 £6,421,967 £6,319,349 £6,216,731 £6,114,114 £6,011,496 £5,908,878 £5,806,260 £5,703,642 £5,601,024 £1,988,161 £1,957,376 £1,926,590 £1,895,805 £1,865,019 £1,834,234 £1,803,449 £1,772,663 £1,741,878 £1,711,093 £1,680,307 £326 £8265 30 £8,382,767 £8,280,149 £8,177,531 £8,074,913 £7,972,295 £7,869,677 £7,767,059 £7,664,441 £7,561,823 £7,459,206 £7,356,588 £2,514,830 £2,484,045 £2,453,259 £2,422,474 £2,391,689 £2,360,903 £2,330,118 £2,299,332 £2,268,547 £2,237,762 £2,206,976 £677 £1,178





100 Mixed (40% AH)

Max CIL (£/m²) -

High EUV

Benchmark


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50 Mixed (40% AH)


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25 Mixed (30%AH)

25 Mixed (40% AH)

4 Houses

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AH)



1 Houses

Table 2b: Residual Land Value Results by Scheme Type, Value Level & CIL Rate 66% Affordable Rent/34% LCHO - PDL Non-Residential Benchmark Comparison - 30 DPH



(dph)

Residual Land

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CIL

Residual Land

Value - £125/m²

CIL

Residual Land

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Residual Land

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Residual Land

Value - £225/m²

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Residual Land

Value - £250/m²

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Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land

Value - £100/m²

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Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

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Residual Land

Value - £250/m²

CIL

1 50 -£24,766 -£27,937 -£31,109 -£34,281 -£37,453 -£40,625 -£43,797 -£46,969 -£50,141 -£53,312 -£56,484 -£1,238,279 -£1,396,873 -£1,555,466 -£1,714,060 -£1,872,654 -£2,031,248 -£2,189,841 -£2,348,435 -£2,507,029 -£2,665,623 -£2,824,216 -£678 -£438

2 50 £20,819 £17,988 £15,158 £12,328 £9,497 £6,667 £3,837 £1,007 -£2,044 -£5,216 -£8,387 £1,040,926 £899,413 £757,900 £616,386 £474,873 £333,360 £191,847 £50,334 -£102,185 -£260,779 -£419,373 -£313 -£73

3 50 £63,735 £60,905 £58,075 £55,245 £52,414 £49,584 £46,754 £43,924 £41,093 £38,263 £35,433 £3,186,768 £3,045,255 £2,903,742 £2,762,228 £2,620,715 £2,479,202 £2,337,689 £2,196,176 £2,054,662 £1,913,149 £1,771,636 £30 £270

4 50 £106,652 £103,822 £100,992 £98,161 £95,331 £92,501 £89,671 £86,840 £84,010 £81,180 £78,350 £5,332,610 £5,191,097 £5,049,584 £4,908,070 £4,766,557 £4,625,044 £4,483,531 £4,342,018 £4,200,504 £4,058,991 £3,917,478 £373 £613

5 50 £149,569 £146,739 £143,909 £141,078 £138,248 £135,418 £132,587 £129,757 £126,927 £124,097 £121,266 £7,478,452 £7,336,939 £7,195,426 £7,053,913 £6,912,399 £6,770,886 £6,629,373 £6,487,860 £6,346,347 £6,204,833 £6,063,320 £717 £957

1 50 £129,755 £122,057 £114,359 £106,660 £98,962 £91,264 £83,565 £75,867 £68,169 £60,470 £52,772 £1,621,940 £1,525,711 £1,429,482 £1,333,253 £1,237,024 £1,140,795 £1,044,566 £948,337 £852,108 £755,879 £659,650 -£324 £29

2 50 £246,489 £238,791 £231,092 £223,394 £215,696 £207,997 £200,299 £192,601 £184,902 £177,204 £169,506 £3,081,112 £2,984,884 £2,888,655 £2,792,426 £2,696,197 £2,599,968 £2,503,739 £2,407,510 £2,311,281 £2,215,052 £2,118,823 £19 £372

3 50 £363,223 £355,524 £347,826 £340,128 £332,430 £324,731 £317,033 £309,335 £301,636 £293,938 £286,240 £4,540,285 £4,444,056 £4,347,827 £4,251,598 £4,155,369 £4,059,140 £3,962,911 £3,866,682 £3,770,453 £3,674,224 £3,577,995 £362 £715

4 50 £468,553 £461,038 £453,523 £446,007 £438,492 £441,465 £433,767 £426,068 £418,370 £410,672 £402,973 £5,856,918 £5,762,975 £5,669,032 £5,575,090 £5,481,147 £5,518,313 £5,422,084 £5,325,855 £5,229,626 £5,133,397 £5,037,168 £672 £1,025

5 50 £582,514 £574,998 £567,483 £559,968 £552,452 £544,937 £537,421 £529,906 £522,390 £514,875 £507,360 £7,281,422 £7,187,479 £7,093,537 £6,999,594 £6,905,651 £6,811,709 £6,717,766 £6,623,823 £6,529,880 £6,435,938 £6,341,995 £1,007 £1,360

1 50 £409,287 £383,362 £357,437 £331,512 £305,586 £279,661 £253,736 £227,811 £201,885 £175,960 £150,035 £1,461,740 £1,369,150 £1,276,560 £1,183,970 £1,091,380 £998,790 £906,200 £813,609 £721,019 £628,429 £535,839 -£375 -£9

2 50 £783,341 £758,032 £732,723 £707,413 £682,104 £656,795 £631,486 £606,176 £580,867 £555,558 £530,249 £2,797,647 £2,707,257 £2,616,867 £2,526,477 £2,436,086 £2,345,696 £2,255,306 £2,164,916 £2,074,525 £1,984,135 £1,893,745 -£49 £316

3 50 £1,167,119 £1,141,810 £1,116,501 £1,091,192 £1,065,882 £1,040,573 £1,015,264 £989,955 £964,645 £939,336 £914,027 £4,168,284 £4,077,894 £3,987,503 £3,897,113 £3,806,723 £3,716,333 £3,625,942 £3,535,552 £3,445,162 £3,354,772 £3,264,382 £285 £650

4 50 £1,550,898 £1,525,588 £1,500,279 £1,474,970 £1,449,661 £1,424,351 £1,399,042 £1,373,733 £1,348,424 £1,323,114 £1,297,805 £5,538,920 £5,448,530 £5,358,140 £5,267,750 £5,177,360 £5,086,969 £4,996,579 £4,906,189 £4,815,799 £4,725,408 £4,635,018 £619 £984

5 50 £1,934,676 £1,909,367 £1,884,057 £1,858,748 £1,833,439 £1,808,130 £1,782,820 £1,757,511 £1,732,202 £1,706,893 £1,681,583 £6,909,557 £6,819,167 £6,728,777 £6,638,386 £6,547,996 £6,457,606 £6,367,216 £6,276,825 £6,186,435 £6,096,045 £6,005,655 £953 £1,318

1 50 £190,350 £172,872 £155,393 £137,914 £120,435 £102,956 £85,478 £67,999 £50,520 £33,041 £15,562 £679,823 £617,399 £554,974 £492,550 £430,126 £367,701 £305,277 £242,853 £180,428 £118,004 £55,580 -£833 -£2942 50 £524,539 £507,489 £490,439 £473,389 £456,338 £439,288 £432,854 £415,375 £397,897 £380,418 £362,939 £1,873,353 £1,812,460 £1,751,567 £1,690,673 £1,629,780 £1,568,887 £1,545,908 £1,483,484 £1,421,060 £1,358,635 £1,296,211 -£404 £1343 50 £863,396 £846,346 £829,296 £812,246 £795,195 £778,145 £761,095 £744,045 £726,995 £709,945 £692,895 £3,083,557 £3,022,664 £2,961,770 £2,900,877 £2,839,984 £2,779,090 £2,718,197 £2,657,304 £2,596,410 £2,535,517 £2,474,624 £30 £5684 50 £1,153,829 £1,136,779 £1,119,728 £1,102,678 £1,085,628 £1,068,578 £1,051,528 £1,034,478 £1,017,428 £1,000,378 £983,328 £4,120,817 £4,059,924 £3,999,030 £3,938,137 £3,877,244 £3,816,350 £3,755,457 £3,694,564 £3,633,671 £3,572,777 £3,511,884 £402 £9415 50 £1,444,262 £1,427,211 £1,410,161 £1,393,111 £1,376,061 £1,359,011 £1,341,961 £1,324,911 £1,307,861 £1,290,810 £1,273,760 £5,158,077 £5,097,184 £5,036,290 £4,975,397 £4,914,504 £4,853,611 £4,792,717 £4,731,824 £4,670,931 £4,610,037 £4,549,144 £775 £1,313

1 50 £155,947 £140,260 £124,574 £108,888 £93,202 £77,516 £61,830 £46,144 £30,458 £14,772 -£1,043 £556,952 £500,930 £444,908 £388,886 £332,865 £276,843 £220,821 £164,799 £108,777 £52,756 -£3,726 -£973 -£3762 50 £483,657 £468,355 £453,054 £437,752 £433,073 £417,386 £401,700 £386,014 £370,328 £354,642 £338,956 £1,727,345 £1,672,697 £1,618,049 £1,563,402 £1,546,688 £1,490,666 £1,434,644 £1,378,622 £1,322,600 £1,266,579 £1,210,557 -£507 £913 50 £815,191 £799,890 £784,589 £769,287 £753,986 £738,684 £723,383 £708,082 £692,780 £677,479 £662,177 £2,911,398 £2,856,750 £2,802,102 £2,747,454 £2,692,807 £2,638,159 £2,583,511 £2,528,863 £2,474,215 £2,419,567 £2,364,920 -£35 £5624 50 £1,096,241 £1,080,940 £1,065,639 £1,050,337 £1,035,036 £1,019,734 £1,004,433 £989,132 £973,830 £958,529 £943,228 £3,915,148 £3,860,500 £3,805,852 £3,751,204 £3,696,557 £3,641,909 £3,587,261 £3,532,613 £3,477,965 £3,423,317 £3,368,670 £364 £9625 50 £1,377,291 £1,361,990 £1,346,689 £1,331,387 £1,316,086 £1,300,784 £1,285,483 £1,270,182 £1,254,880 £1,239,579 £1,224,278 £4,918,898 £4,864,250 £4,809,602 £4,754,954 £4,700,307 £4,645,659 £4,591,011 £4,536,363 £4,481,715 £4,427,068 £4,372,420 £764 £1,362

1 50 £353,531 £320,831 £288,131 £255,431 £222,731 £190,031 £157,331 £124,631 £91,931 £59,232 £26,532 £707,062 £641,662 £576,262 £510,863 £445,463 £380,063 £314,663 £249,263 £183,863 £118,463 £53,063 -£777 -£2692 50 £952,264 £920,392 £888,521 £856,649 £824,777 £792,905 £761,033 £729,161 £697,289 £665,417 £633,545 £1,904,529 £1,840,785 £1,777,041 £1,713,297 £1,649,553 £1,585,809 £1,522,065 £1,458,321 £1,394,577 £1,330,834 £1,267,090 -£371 £1373 50 £1,559,950 £1,528,078 £1,496,206 £1,464,334 £1,432,462 £1,400,590 £1,368,718 £1,336,846 £1,304,974 £1,273,102 £1,241,230 £3,119,899 £3,056,155 £2,992,411 £2,928,667 £2,864,923 £2,801,179 £2,737,435 £2,673,691 £2,609,948 £2,546,204 £2,482,460 £41 £5494 50 £2,085,759 £2,053,887 £2,022,015 £1,990,143 £1,958,272 £1,926,400 £1,894,528 £1,862,656 £1,830,784 £1,798,912 £1,767,040 £4,171,519 £4,107,775 £4,044,031 £3,980,287 £3,916,543 £3,852,799 £3,789,055 £3,725,311 £3,661,567 £3,597,823 £3,534,079 £397 £9065 50 £2,611,569 £2,579,697 £2,547,825 £2,515,953 £2,484,081 £2,452,209 £2,420,337 £2,388,466 £2,356,594 £2,324,722 £2,292,850 £5,223,139 £5,159,395 £5,095,651 £5,031,907 £4,968,163 £4,904,419 £4,840,675 £4,776,931 £4,713,187 £4,649,443 £4,585,699 £754 £1,262

1 50 £219,835 £192,788 £165,741 £138,695 £111,648 £84,601 £57,554 £30,508 £3,461 -£27,395 -£58,810 £439,670 £385,576 £331,483 £277,389 £223,296 £169,202 £115,109 £61,015 £6,922 -£54,790 -£117,620 -£1,060 -£4392 50 £798,999 £772,637 £746,275 £719,913 £693,551 £667,189 £640,827 £614,465 £588,103 £561,741 £535,380 £1,597,997 £1,545,273 £1,492,549 £1,439,826 £1,387,102 £1,334,378 £1,281,654 £1,228,930 £1,176,207 £1,123,483 £1,070,759 -£580 £413 50 £1,383,729 £1,357,367 £1,331,005 £1,304,643 £1,278,281 £1,251,919 £1,225,557 £1,199,195 £1,172,833 £1,146,472 £1,120,110 £2,767,457 £2,714,733 £2,662,010 £2,609,286 £2,556,562 £2,503,838 £2,451,114 £2,398,391 £2,345,667 £2,292,943 £2,240,219 -£96 £5254 50 £1,856,259 £1,829,898 £1,803,536 £1,777,174 £1,750,812 £1,724,450 £1,698,088 £1,671,726 £1,645,364 £1,619,002 £1,592,640 £3,712,519 £3,659,795 £3,607,071 £3,554,347 £3,501,624 £3,448,900 £3,396,176 £3,343,452 £3,290,728 £3,238,005 £3,185,281 £295 £9165 50 £2,328,790 £2,302,428 £2,276,066 £2,249,705 £2,223,343 £2,196,981 £2,170,619 £2,144,257 £2,117,895 £2,091,533 £2,065,171 £4,657,580 £4,604,857 £4,552,133 £4,499,409 £4,446,685 £4,393,961 £4,341,238 £4,288,514 £4,235,790 £4,183,066 £4,130,343 £686 £1,307

1 50 £377,490 £323,090 £268,690 £214,290 £159,890 £105,490 £51,090 -£3,989 -£69,563 -£135,137 -£200,711 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£1,045 -£447

2 50 £1,493,629 £1,440,698 £1,387,767 £1,334,836 £1,281,904 £1,228,973 £1,176,042 £1,123,111 £1,070,180 £1,017,249 £964,318 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£600 -£3

3 50 £2,619,960 £2,567,029 £2,514,098 £2,461,167 £2,408,236 £2,355,305 £2,302,373 £2,249,442 £2,196,511 £2,143,580 £2,090,649 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£151 £446



1 50 £547,016 £444,398 £351,920 £246,258 £140,595 £34,933 -£88,606 -£220,973 -£353,341 -£485,708 -£618,076 £273,508 £222,199 £175,960 £123,129 £70,298 £17,466 -£44,303 -£110,487 -£176,670 -£242,854 -£309,038 -£1,092 -£4912 50 £2,709,328 £2,606,710 £2,504,092 £2,401,474 £2,298,856 £2,196,238 £2,093,620 £1,991,002 £1,888,384 £1,785,767 £1,683,149 £1,354,664 £1,303,355 £1,252,046 £1,200,737 £1,149,428 £1,098,119 £1,046,810 £995,501 £944,192 £892,883 £841,574 -£659 -£583 50 £4,871,639 £4,769,022 £4,666,404 £4,563,786 £4,461,168 £4,358,550 £4,255,932 £4,153,314 £4,050,696 £3,948,078 £3,845,460 £2,435,820 £2,384,511 £2,333,202 £2,281,893 £2,230,584 £2,179,275 £2,127,966 £2,076,657 £2,025,348 £1,974,039 £1,922,730 -£226 £3754 50 £6,627,203 £6,524,585 £6,421,967 £6,319,349 £6,216,731 £6,114,114 £6,011,496 £5,908,878 £5,806,260 £5,703,642 £5,601,024 £3,313,602 £3,262,293 £3,210,984 £3,159,675 £3,108,366 £3,057,057 £3,005,748 £2,954,439 £2,903,130 £2,851,821 £2,800,512 £126 £7265 50 £8,382,767 £8,280,149 £8,177,531 £8,074,913 £7,972,295 £7,869,677 £7,767,059 £7,664,441 £7,561,823 £7,459,206 £7,356,588 £4,191,383 £4,140,074 £4,088,765 £4,037,456 £3,986,148 £3,934,839 £3,883,530 £3,832,221 £3,780,912 £3,729,603 £3,678,294 £477 £1,078

Key: RLV at or below lower assumed PDL residential value (c£1,500,000/Ha)

RLV between lower and upper assumed PDL residential value (c£1,500,000/Ha - £3,000,000/Ha)

RLV at or above upper assumed PDL residential value (c£3,000,000/Ha)


25 Mixed (40% AH)

100 Mixed (40% AH)

50 Mixed (40% AH)


AH)


AH)

25 Mixed (30%AH)

1 Houses

4 Houses

14Mixed (Urban - 0%

AH)

Max CIL (£/m²) -

High EUV

Benchmark


EUV Benchmark



Table 3a: Residual Land Value Results by Scheme Type, Value Level & CIL Rate 66% Affordable Rent/34% LCHO - PDL Residential Benchmark Comparison - 50 DPH



(dph)

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land

Value - £100/m²

CIL

Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

CIL

Residual Land

Value - £250/m²

CIL

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land

Value - £100/m²

CIL

Residual Land

Value - £125/m²

CIL

Residual Land

Value - £150/m²

CIL

Residual Land

Value - £175/m²

CIL

Residual Land

Value - £200/m²

CIL

Residual Land

Value - £225/m²

CIL

Residual Land

Value - £250/m²

CIL

1 30 -£24,766 -£27,937 -£31,109 -£34,281 -£37,453 -£40,625 -£43,797 -£46,969 -£50,141 -£53,312 -£56,484 -£742,967 -£838,124 -£933,280 -£1,028,436 -£1,123,592 -£1,218,749 -£1,313,905 -£1,409,061 -£1,504,217 -£1,599,374 -£1,694,530 -£998 -£598

2 30 £20,819 £17,988 £15,158 £12,328 £9,497 £6,667 £3,837 £1,007 -£2,044 -£5,216 -£8,387 £624,556 £539,648 £454,740 £369,832 £284,924 £200,016 £115,108 £30,200 -£61,311 -£156,467 -£251,624 -£633 -£233

3 30 £63,735 £60,905 £58,075 £55,245 £52,414 £49,584 £46,754 £43,924 £41,093 £38,263 £35,433 £1,912,061 £1,827,153 £1,742,245 £1,657,337 £1,572,429 £1,487,521 £1,402,613 £1,317,705 £1,232,797 £1,147,890 £1,062,982 -£290 £110

4 30 £106,652 £103,822 £100,992 £98,161 £95,331 £92,501 £89,671 £86,840 £84,010 £81,180 £78,350 £3,199,566 £3,114,658 £3,029,750 £2,944,842 £2,859,934 £2,775,026 £2,690,119 £2,605,211 £2,520,303 £2,435,395 £2,350,487 £53 £453

5 30 £149,569 £146,739 £143,909 £141,078 £138,248 £135,418 £132,587 £129,757 £126,927 £124,097 £121,266 £4,487,071 £4,402,163 £4,317,255 £4,232,348 £4,147,440 £4,062,532 £3,977,624 £3,892,716 £3,807,808 £3,722,900 £3,637,992 £397 £797

1 30 £129,755 £122,057 £114,359 £106,660 £98,962 £91,264 £83,565 £75,867 £68,169 £60,470 £52,772 £973,164 £915,427 £857,689 £799,952 £742,214 £684,477 £626,740 £569,002 £511,265 £453,527 £395,790 -£795 -£207

2 30 £246,489 £238,791 £231,092 £223,394 £215,696 £207,997 £200,299 £192,601 £184,902 £177,204 £169,506 £1,848,667 £1,790,930 £1,733,193 £1,675,455 £1,617,718 £1,559,981 £1,502,243 £1,444,506 £1,386,768 £1,329,031 £1,271,294 -£452 £137

3 30 £363,223 £355,524 £347,826 £340,128 £332,430 £324,731 £317,033 £309,335 £301,636 £293,938 £286,240 £2,724,171 £2,666,434 £2,608,696 £2,550,959 £2,493,222 £2,435,484 £2,377,747 £2,320,009 £2,262,272 £2,204,535 £2,146,797 -£108 £480

4 30 £468,553 £461,038 £453,523 £446,007 £438,492 £441,465 £433,767 £426,068 £418,370 £410,672 £402,973 £3,514,151 £3,457,785 £3,401,419 £3,345,054 £3,288,688 £3,310,988 £3,253,250 £3,195,513 £3,137,776 £3,080,038 £3,022,301 £202 £790

5 30 £582,514 £574,998 £567,483 £559,968 £552,452 £544,937 £537,421 £529,906 £522,390 £514,875 £507,360 £4,368,853 £4,312,488 £4,256,122 £4,199,756 £4,143,391 £4,087,025 £4,030,660 £3,974,294 £3,917,928 £3,861,563 £3,805,197 £537 £1,125

1 30 £409,287 £383,362 £357,437 £331,512 £305,586 £279,661 £253,736 £227,811 £201,885 £175,960 £150,035 £877,044 £821,490 £765,936 £710,382 £654,828 £599,274 £543,720 £488,166 £432,612 £377,058 £321,504 -£862 -£253

2 30 £783,341 £758,032 £732,723 £707,413 £682,104 £656,795 £631,486 £606,176 £580,867 £555,558 £530,249 £1,678,588 £1,624,354 £1,570,120 £1,515,886 £1,461,652 £1,407,418 £1,353,184 £1,298,949 £1,244,715 £1,190,481 £1,136,247 -£537 £73

3 30 £1,167,119 £1,141,810 £1,116,501 £1,091,192 £1,065,882 £1,040,573 £1,015,264 £989,955 £964,645 £939,336 £914,027 £2,500,970 £2,446,736 £2,392,502 £2,338,268 £2,284,034 £2,229,800 £2,175,565 £2,121,331 £2,067,097 £2,012,863 £1,958,629 -£203 £407

4 30 £1,550,898 £1,525,588 £1,500,279 £1,474,970 £1,449,661 £1,424,351 £1,399,042 £1,373,733 £1,348,424 £1,323,114 £1,297,805 £3,323,352 £3,269,118 £3,214,884 £3,160,650 £3,106,416 £3,052,182 £2,997,947 £2,943,713 £2,889,479 £2,835,245 £2,781,011 £131 £741

5 30 £1,934,676 £1,909,367 £1,884,057 £1,858,748 £1,833,439 £1,808,130 £1,782,820 £1,757,511 £1,732,202 £1,706,893 £1,681,583 £4,145,734 £4,091,500 £4,037,266 £3,983,032 £3,928,798 £3,874,564 £3,820,329 £3,766,095 £3,711,861 £3,657,627 £3,603,393 £465 £1,075

1 30 £190,350 £172,872 £155,393 £137,914 £120,435 £102,956 £85,478 £67,999 £50,520 £33,041 £15,562 £407,894 £370,439 £332,985 £295,530 £258,075 £220,621 £183,166 £145,712 £108,257 £70,802 £33,348 -£1,551 -£6532 30 £524,539 £507,489 £490,439 £473,389 £456,338 £439,288 £432,854 £415,375 £397,897 £380,418 £362,939 £1,124,012 £1,087,476 £1,050,940 £1,014,404 £977,868 £941,332 £927,545 £890,090 £852,636 £815,181 £777,727 -£1,122 -£2253 30 £863,396 £846,346 £829,296 £812,246 £795,195 £778,145 £761,095 £744,045 £726,995 £709,945 £692,895 £1,850,134 £1,813,598 £1,777,062 £1,740,526 £1,703,990 £1,667,454 £1,630,918 £1,594,382 £1,557,846 £1,521,310 £1,484,774 -£688 £2094 30 £1,153,829 £1,136,779 £1,119,728 £1,102,678 £1,085,628 £1,068,578 £1,051,528 £1,034,478 £1,017,428 £1,000,378 £983,328 £2,472,490 £2,435,954 £2,399,418 £2,362,882 £2,326,346 £2,289,810 £2,253,274 £2,216,738 £2,180,202 £2,143,666 £2,107,130 -£316 £5825 30 £1,444,262 £1,427,211 £1,410,161 £1,393,111 £1,376,061 £1,359,011 £1,341,961 £1,324,911 £1,307,861 £1,290,810 £1,273,760 £3,094,846 £3,058,310 £3,021,774 £2,985,238 £2,948,702 £2,912,166 £2,875,630 £2,839,094 £2,802,558 £2,766,022 £2,729,486 £57 £954

1 30 £155,947 £140,260 £124,574 £108,888 £93,202 £77,516 £61,830 £46,144 £30,458 £14,772 -£1,043 £334,171 £300,558 £266,945 £233,332 £199,719 £166,106 £132,493 £98,880 £65,266 £31,653 -£2,236 -£1,770 -£7742 30 £483,657 £468,355 £453,054 £437,752 £433,073 £417,386 £401,700 £386,014 £370,328 £354,642 £338,956 £1,036,407 £1,003,618 £970,830 £938,041 £928,013 £894,399 £860,786 £827,173 £793,560 £759,947 £726,334 -£1,303 -£3083 30 £815,191 £799,890 £784,589 £769,287 £753,986 £738,684 £723,383 £708,082 £692,780 £677,479 £662,177 £1,746,839 £1,714,050 £1,681,261 £1,648,473 £1,615,684 £1,582,895 £1,550,107 £1,517,318 £1,484,529 £1,451,740 £1,418,952 -£832 £1644 30 £1,096,241 £1,080,940 £1,065,639 £1,050,337 £1,035,036 £1,019,734 £1,004,433 £989,132 £973,830 £958,529 £943,228 £2,349,089 £2,316,300 £2,283,511 £2,250,723 £2,217,934 £2,185,145 £2,152,357 £2,119,568 £2,086,779 £2,053,990 £2,021,202 -£432 £5645 30 £1,377,291 £1,361,990 £1,346,689 £1,331,387 £1,316,086 £1,300,784 £1,285,483 £1,270,182 £1,254,880 £1,239,579 £1,224,278 £2,951,339 £2,918,550 £2,885,761 £2,852,973 £2,820,184 £2,787,395 £2,754,607 £2,721,818 £2,689,029 £2,656,241 £2,623,452 -£32 £963

1 30 £353,531 £320,831 £288,131 £255,431 £222,731 £190,031 £157,331 £124,631 £91,931 £59,232 £26,532 £424,237 £384,997 £345,757 £306,518 £267,278 £228,038 £188,798 £149,558 £110,318 £71,078 £31,838 -£1,455 -£6082 30 £952,264 £920,392 £888,521 £856,649 £824,777 £792,905 £761,033 £729,161 £697,289 £665,417 £633,545 £1,142,717 £1,104,471 £1,066,225 £1,027,978 £989,732 £951,486 £913,239 £874,993 £836,746 £798,500 £760,254 -£1,049 -£2023 30 £1,559,950 £1,528,078 £1,496,206 £1,464,334 £1,432,462 £1,400,590 £1,368,718 £1,336,846 £1,304,974 £1,273,102 £1,241,230 £1,871,939 £1,833,693 £1,795,447 £1,757,200 £1,718,954 £1,680,708 £1,642,461 £1,604,215 £1,565,969 £1,527,722 £1,489,476 -£637 £2104 30 £2,085,759 £2,053,887 £2,022,015 £1,990,143 £1,958,272 £1,926,400 £1,894,528 £1,862,656 £1,830,784 £1,798,912 £1,767,040 £2,502,911 £2,464,665 £2,426,419 £2,388,172 £2,349,926 £2,311,679 £2,273,433 £2,235,187 £2,196,940 £2,158,694 £2,120,448 -£281 £5675 30 £2,611,569 £2,579,697 £2,547,825 £2,515,953 £2,484,081 £2,452,209 £2,420,337 £2,388,466 £2,356,594 £2,324,722 £2,292,850 £3,133,883 £3,095,637 £3,057,390 £3,019,144 £2,980,898 £2,942,651 £2,904,405 £2,866,159 £2,827,912 £2,789,666 £2,751,420 £76 £923

1 30 £219,835 £192,788 £165,741 £138,695 £111,648 £84,601 £57,554 £30,508 £3,461 -£27,395 -£58,810 £263,802 £231,346 £198,890 £166,434 £133,977 £101,521 £69,065 £36,609 £4,153 -£32,874 -£70,572 -£1,888 -£8532 30 £798,999 £772,637 £746,275 £719,913 £693,551 £667,189 £640,827 £614,465 £588,103 £561,741 £535,380 £958,798 £927,164 £895,530 £863,895 £832,261 £800,627 £768,993 £737,358 £705,724 £674,090 £642,455 -£1,408 -£3733 30 £1,383,729 £1,357,367 £1,331,005 £1,304,643 £1,278,281 £1,251,919 £1,225,557 £1,199,195 £1,172,833 £1,146,472 £1,120,110 £1,660,474 £1,628,840 £1,597,206 £1,565,572 £1,533,937 £1,502,303 £1,470,669 £1,439,034 £1,407,400 £1,375,766 £1,344,132 -£924 £1114 30 £1,856,259 £1,829,898 £1,803,536 £1,777,174 £1,750,812 £1,724,450 £1,698,088 £1,671,726 £1,645,364 £1,619,002 £1,592,640 £2,227,511 £2,195,877 £2,164,243 £2,132,608 £2,100,974 £2,069,340 £2,037,706 £2,006,071 £1,974,437 £1,942,803 £1,911,169 -£533 £5025 30 £2,328,790 £2,302,428 £2,276,066 £2,249,705 £2,223,343 £2,196,981 £2,170,619 £2,144,257 £2,117,895 £2,091,533 £2,065,171 £2,794,548 £2,762,914 £2,731,280 £2,699,645 £2,668,011 £2,636,377 £2,604,743 £2,573,108 £2,541,474 £2,509,840 £2,478,206 -£142 £893

1 30 £377,490 £323,090 £268,690 £214,290 £159,890 £105,490 £51,090 -£3,989 -£69,563 -£135,137 -£200,711 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£1,842 -£846

2 30 £1,493,629 £1,440,698 £1,387,767 £1,334,836 £1,281,904 £1,228,973 £1,176,042 £1,123,111 £1,070,180 £1,017,249 £964,318 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -£1,397 -£401




1 30 £547,016 £444,398 £351,920 £246,258 £140,595 £34,933 -£88,606 -£220,973 -£353,341 -£485,708 -£618,076 £164,105 £133,319 £105,576 £73,877 £42,179 £10,480 -£26,582 -£66,292 -£106,002 -£145,712 -£185,423 -£1,892 -£8912 30 £2,709,328 £2,606,710 £2,504,092 £2,401,474 £2,298,856 £2,196,238 £2,093,620 £1,991,002 £1,888,384 £1,785,767 £1,683,149 £812,798 £782,013 £751,228 £720,442 £689,657 £658,871 £628,086 £597,301 £566,515 £535,730 £504,945 -£1,460 -£4593 30 £4,871,639 £4,769,022 £4,666,404 £4,563,786 £4,461,168 £4,358,550 £4,255,932 £4,153,314 £4,050,696 £3,948,078 £3,845,460 £1,461,492 £1,430,706 £1,399,921 £1,369,136 £1,338,350 £1,307,565 £1,276,780 £1,245,994 £1,215,209 £1,184,423 £1,153,638 -£1,027 -£264 30 £6,627,203 £6,524,585 £6,421,967 £6,319,349 £6,216,731 £6,114,114 £6,011,496 £5,908,878 £5,806,260 £5,703,642 £5,601,024 £1,988,161 £1,957,376 £1,926,590 £1,895,805 £1,865,019 £1,834,234 £1,803,449 £1,772,663 £1,741,878 £1,711,093 £1,680,307 -£675 £3265 30 £8,382,767 £8,280,149 £8,177,531 £8,074,913 £7,972,295 £7,869,677 £7,767,059 £7,664,441 £7,561,823 £7,459,206 £7,356,588 £2,514,830 £2,484,045 £2,453,259 £2,422,474 £2,391,689 £2,360,903 £2,330,118 £2,299,332 £2,268,547 £2,237,762 £2,206,976 -£324 £677

Key: RLV at or below lower assumed PDL residential value (c£1,500,000/Ha)

RLV between lower and upper assumed PDL residential value (c£1,500,000/Ha - £3,000,000/Ha)

RLV at or above upper assumed PDL residential value (c£3,000,000/Ha)


100 Mixed (40% AH)

Max CIL (£/m²) -

High EUV

Benchmark


EUV Benchmark

50 Mixed (40% AH)


AH)

25 Mixed (30%AH)

25 Mixed (40% AH)

4 Houses

14Mixed (Urban - 0%

AH)


AH)



1 Houses

Table 3a: Residual Land Value Results by Scheme Type, Value Level & CIL Rate 66% Affordable Rent/34% LCHO - PDL Residential Benchmark Comparison - 30 DPH



Net RLV: £1,400,590

DEVELOPMENT TYPE Residential

DEVELOPMENT DESCRIPTION 25 Unit Scheme

DEVELOPMENT SIZE (TOTAL m²) - GIA 2,081

Total Private Affordable % AH

25 17 8 32%

% Private % SR %AR % Int 1 % Int 2

68% 0% 20% 12% 0%

SITE SIZE (HA) 0.50

VALUE / AREA 3

REVENUE

Affordable Housing Revenue £1,208,550

Open Market Housing Revenue £5,162,500

Total Value of Scheme £6,371,050


Build Costs £2,382,223

Fees, Contingencies, Planning Costs etc £476,445

Planning Application Costs £8,375

Site Preparation / Survey Costs etc £112,500

Other Costs £0

Sustainable Design & Construction Costs / Lifetime Homes £109,664

Total Build Costs £3,089,207

Section 106 / CIL Costs £196,875

Marketing Costs & Legal Fees £206,132

Total s106 & Marketing Costs £403,007

Finance on Build Costs £104,766

TOTAL DEVELOPMENT COSTS £3,596,979


Open Market Housing Profit £1,032,500

Affordable Housing Profit £72,513

Total Operating Profit £1,105,013

GROSS RESIDUAL LAND VALUE £1,669,058

Residual Land Value Data Summary & Results

PERCENTAGE BY TENURE

TOTAL NUMBER OF UNITS



Arrangement Fee / Misc Fees (Surveyors etc) £16,691

Agents Fees £12,518

Legal Fees £12,518

Stamp Duty £66,762

Interest on Land Purchase £159,979

Total Finance & Acquisition Costs £268,468

NET RESIDUAL LAND VALUE £1,400,590 (ignores finance & acquisition

RLV (£ per Ha) £2,801,179 costs if GRLV Negative)

NRLV as % of GDV 22.0%


Appendix IIb

Commercial Results Summaries

Scheme Type Value LevelTota Floor Area

(m²)Site Size (Ha)

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


L 4000 1.14 £755,517 £719,608 £683,698 £575,968 £401,205 £224,725 £39,124 -£161,992 £662,735 £631,235 £599,735 £505,235 £351,935 £197,128 £34,319 -£142,098 -£25 £132

M 4000 1.14 £2,608,812 £2,572,903 £2,536,993 £2,429,263 £2,249,714 £2,070,165 £1,890,616 £1,711,068 £2,288,432 £2,256,932 £2,225,432 £2,130,933 £1,973,434 £1,815,935 £1,658,436 £1,500,936 £438 £595

H 4000 1.14 £4,462,107 £4,426,197 £4,390,288 £4,282,558 £4,103,009 £3,923,460 £3,743,911 £3,564,362 £3,914,129 £3,882,629 £3,851,130 £3,756,630 £3,599,131 £3,441,632 £3,284,133 £3,126,634 £902 £1,059

L 1000 0.25 £543,136 £534,095 £525,054 £497,930 £452,724 £412,333 £366,593 £320,852 £2,172,546 £2,136,381 £2,100,216 £1,991,721 £1,810,896 £1,649,333 £1,466,371 £1,283,409 £356 £493

M 1000 0.25 £1,012,070 £1,003,029 £993,988 £966,864 £921,658 £876,452 £831,245 £786,039 £4,048,282 £4,012,117 £3,975,952 £3,867,457 £3,686,632 £3,505,807 £3,324,982 £3,144,157 £825 £962

H 1000 0.25 £1,481,004 £1,471,963 £1,462,922 £1,435,798 £1,390,592 £1,345,386 £1,300,179 £1,254,973 £5,924,018 £5,887,853 £5,851,688 £5,743,193 £5,562,368 £5,381,543 £5,200,718 £5,019,893 £1,294 £1,431

L 300 0.05 £41,050 £38,180 £35,310 £26,699 £12,349 -£2,110 -£17,242 -£32,373 £820,997 £763,595 £706,193 £533,987 £246,978 -£42,209 -£344,834 -£647,459 £12 £103

M 300 0.05 £116,132 £113,262 £110,392 £101,782 £87,432 £73,081 £58,731 £44,380 £2,322,649 £2,265,247 £2,207,845 £2,035,640 £1,748,631 £1,461,622 £1,174,612 £887,603 £262 £354

H 300 0.05 £189,133 £186,295 £183,456 £174,939 £160,745 £146,551 £133,813 £119,463 £3,782,667 £3,725,890 £3,669,113 £3,498,783 £3,214,898 £2,931,014 £2,676,265 £2,389,256 £505 £597

L 1000 0.05 -£474,010 -£484,160 -£494,310 -£524,760 -£575,510 N/A N/A N/A -£9,480,202 -£9,683,202 -£9,886,202 -£10,495,202 -£11,510,202 N/A N/A N/A -£512 -£484

M 1000 0.05 -£157,360 -£167,510 -£177,660 -£208,110 -£258,860 N/A N/A N/A -£3,147,192 -£3,350,192 -£3,553,192 -£4,162,192 -£5,177,192 N/A N/A N/A -£195 -£167

H 1000 0.05 £147,379 £139,546 £130,049 £101,558 £54,073 N/A N/A N/A £2,947,575 £2,790,926 £2,600,986 £2,031,164 £1,081,462 N/A N/A N/A £110 £137

L 3000 0.75 -£832,769 -£863,519 -£894,269 -£986,519 -£1,140,269 N/A N/A N/A -£1,110,359 -£1,151,359 -£1,192,359 -£1,315,359 -£1,520,359 N/A N/A N/A -£465 -£328

M 3000 0.75 £107,166 £79,020 £50,875 -£36,667 -£190,417 N/A N/A N/A £142,888 £105,361 £67,833 -£48,889 -£253,889 N/A N/A N/A -£152 -£14

H 3000 0.75 £931,112 £904,277 £877,441 £796,935 £662,758 N/A N/A N/A £1,241,483 £1,205,702 £1,169,922 £1,062,580 £883,677 N/A N/A N/A £123 £260

L 500 0.13 -£203,445 -£208,520 -£213,595 -£228,820 -£254,195 N/A N/A N/A -£1,564,964 -£1,604,003 -£1,643,041 -£1,760,156 -£1,955,349 N/A N/A N/A -£602 -£459

M 500 0.13 -£151,447 -£156,528 -£161,609 -£176,853 -£202,259 N/A N/A N/A -£1,164,976 -£1,204,063 -£1,243,150 -£1,360,409 -£1,555,842 N/A N/A N/A -£498 -£355

H 500 0.13 -£98,673 -£103,754 -£108,835 -£124,079 -£149,485 N/A N/A N/A -£759,020 -£798,106 -£837,193 -£954,452 -£1,149,885 N/A N/A N/A -£392 -£249

L 3000 0.75 -£804,624 -£835,224 -£865,824 -£957,624 -£1,110,624 N/A N/A N/A -£1,072,831 -£1,113,631 -£1,154,431 -£1,276,831 -£1,480,831 N/A N/A N/A -£456 -£318

M 3000 0.75 -£487,990 -£518,590 -£549,190 -£640,990 -£793,990 N/A N/A N/A -£650,653 -£691,453 -£732,253 -£854,653 -£1,058,653 N/A N/A N/A -£350 -£213

H 3000 0.75 -£171,356 -£201,956 -£232,556 -£324,356 -£477,356 N/A N/A N/A -£228,474 -£269,274 -£310,074 -£432,474 -£636,474 N/A N/A N/A -£245 -£107

L 3000 0.60 -£1,924,256 -£1,955,006 -£1,985,756 -£2,078,006 -£2,231,756 N/A N/A N/A -£3,207,094 -£3,258,344 -£3,309,594 -£3,463,344 -£3,719,594 N/A N/A N/A -£791 -£681

M 3000 0.60 -£736,941 -£767,691 -£798,441 -£890,691 -£1,044,441 N/A N/A N/A -£1,228,234 -£1,279,484 -£1,330,734 -£1,484,484 -£1,740,734 N/A N/A N/A -£396 -£286

H 3000 0.60 £397,838 £370,675 £343,512 £262,023 £130,773 N/A N/A N/A £663,063 £617,791 £572,520 £436,705 £217,955 N/A N/A N/A -£17 £93

L 2100 0.35 -£1,133,695 N/A N/A N/A N/A N/A N/A N/A -£3,239,128 N/A N/A N/A N/A N/A N/A N/A -£665 -£573

M 2100 0.35 -£690,500 N/A N/A N/A N/A N/A N/A N/A -£1,972,856 N/A N/A N/A N/A N/A N/A N/A -£454 -£362

H 2100 0.35 -£247,304 N/A N/A N/A N/A N/A N/A N/A -£706,584 N/A N/A N/A N/A N/A N/A N/A -£243 -£151

L 500 0.13 -£459,206 N/A N/A N/A N/A N/A N/A N/A -£3,532,352 N/A N/A N/A N/A N/A N/A N/A -£1,113 -£970


H 500 0.13 -£142,568 N/A N/A N/A N/A N/A N/A N/A -£1,096,674 N/A N/A N/A N/A N/A N/A N/A -£480 -£337

L 2500 0.50 -£3,463,006 N/A N/A N/A N/A N/A N/A N/A -£6,926,011 N/A N/A N/A N/A N/A N/A N/A -£1,535 -£1,425

M 2500 0.50 -£2,935,337 N/A N/A N/A N/A N/A N/A N/A -£5,870,675 N/A N/A N/A N/A N/A N/A N/A -£1,324 -£1,214

H 2500 0.50 -£2,407,669 N/A N/A N/A N/A N/A N/A N/A -£4,815,338 N/A N/A N/A N/A N/A N/A N/A -£1,113 -£1,003





Nursing Home

Fitness

Clinic or similar

Hotel - edge of town

Larege industrial warehousing

including offices

Move on type industrial unit

including offices

Out of Town Office Building

CIL Range (£/m²)*

Town Centre Office Building

Convenience Store

Retail Warehouse


Industrial /

Warehousing

Leisure

B1, B2,

B8

D2

B1, B2,

B8

Industrial /

Warehousing

D1/D2 Community /Health

C1 Hotel

Residential InstitutionC2

A1

A1-A5

B1(a)

A1

Offices

Medium Retail

Small Retail

B1(a) Offices

Use Class / Type

Large RetailLarge Supermarket (Out of

Town)

Table 4: Residual Land Value Results by Use Class, Scheme Type, Value Level & CIL Rate Greenfield Benchmark Comparison

D|S|P Housing and Development Consultants Appendix IIb


(m²)Site Size (Ha)

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


L 4000 1.14 £755,517 £719,608 £683,698 £575,968 £401,205 £224,725 £39,124 -£161,992 £662,735 £631,235 £599,735 £505,235 £351,935 £197,128 £34,319 -£142,098 -£239 -£25

M 4000 1.14 £2,608,812 £2,572,903 £2,536,993 £2,429,263 £2,249,714 £2,070,165 £1,890,616 £1,711,068 £2,288,432 £2,256,932 £2,225,432 £2,130,933 £1,973,434 £1,815,935 £1,658,436 £1,500,936 £225 £438

H 4000 1.14 £4,462,107 £4,426,197 £4,390,288 £4,282,558 £4,103,009 £3,923,460 £3,743,911 £3,564,362 £3,914,129 £3,882,629 £3,851,130 £3,756,630 £3,599,131 £3,441,632 £3,284,133 £3,126,634 £688 £902

L 1300 0.33 -£401,610 -£414,903 -£428,195 -£468,073 -£534,535 -£600,998 -£667,460 -£733,923 -£1,217,000 -£1,257,280 -£1,297,561 -£1,418,402 -£1,619,803 -£1,821,205 -£2,022,606 -£2,224,008 -£690 -£499

M 1300 0.33 £252,726 £240,914 £229,103 £198,289 £137,822 £78,256 £17,085 -£47,900 £765,836 £730,044 £694,251 £600,875 £417,642 £237,140 £51,772 -£145,152 -£186 £4

H 1300 0.33 £852,032 £840,361 £828,691 £793,679 £735,325 £676,972 £618,618 £560,265 £2,581,915 £2,546,550 £2,511,184 £2,405,087 £2,228,258 £2,051,430 £1,874,601 £1,697,773 £275 £465

L 1000 0.25 £543,136 £534,095 £525,054 £497,930 £452,724 £412,333 £366,593 £320,852 £2,172,546 £2,136,381 £2,100,216 £1,991,721 £1,810,896 £1,649,333 £1,466,371 £1,283,409 £168 £356

M 1000 0.25 £1,012,070 £1,003,029 £993,988 £966,864 £921,658 £876,452 £831,245 £786,039 £4,048,282 £4,012,117 £3,975,952 £3,867,457 £3,686,632 £3,505,807 £3,324,982 £3,144,157 £637 £825

H 1000 0.25 £1,481,004 £1,471,963 £1,462,922 £1,435,798 £1,390,592 £1,345,386 £1,300,179 £1,254,973 £5,924,018 £5,887,853 £5,851,688 £5,743,193 £5,562,368 £5,381,543 £5,200,718 £5,019,893 £1,106 £1,294

L 300 0.05 £41,050 £38,180 £35,310 £26,699 £12,349 -£2,110 -£17,242 -£32,373 £820,997 £763,595 £706,193 £533,987 £246,978 -£42,209 -£344,834 -£647,459 -£113 £12

M 300 0.05 £116,132 £113,262 £110,392 £101,782 £87,432 £73,081 £58,731 £44,380 £2,322,649 £2,265,247 £2,207,845 £2,035,640 £1,748,631 £1,461,622 £1,174,612 £887,603 £137 £262

H 300 0.05 £189,133 £186,295 £183,456 £174,939 £160,745 £146,551 £133,813 £119,463 £3,782,667 £3,725,890 £3,669,113 £3,498,783 £3,214,898 £2,931,014 £2,676,265 £2,389,256 £380 £505

L 1000 0.05 -£474,010 -£484,160 -£494,310 -£524,760 -£575,510 N/A N/A N/A -£9,480,202 -£9,683,202 -£9,886,202 -£10,495,202 -£11,510,202 N/A N/A N/A -£549 -£512

M 1000 0.05 -£157,360 -£167,510 -£177,660 -£208,110 -£258,860 N/A N/A N/A -£3,147,192 -£3,350,192 -£3,553,192 -£4,162,192 -£5,177,192 N/A N/A N/A -£232 -£195

H 1000 0.05 £147,379 £139,546 £130,049 £101,558 £54,073 N/A N/A N/A £2,947,575 £2,790,926 £2,600,986 £2,031,164 £1,081,462 N/A N/A N/A £72 £110

L 3000 0.75 -£832,769 -£863,519 -£894,269 -£986,519 -£1,140,269 N/A N/A N/A -£1,110,359 -£1,151,359 -£1,192,359 -£1,315,359 -£1,520,359 N/A N/A N/A -£653 -£465

M 3000 0.75 £107,166 £79,020 £50,875 -£36,667 -£190,417 N/A N/A N/A £142,888 £105,361 £67,833 -£48,889 -£253,889 N/A N/A N/A -£339 -£152

H 3000 0.75 £931,112 £904,277 £877,441 £796,935 £662,758 N/A N/A N/A £1,241,483 £1,205,702 £1,169,922 £1,062,580 £883,677 N/A N/A N/A -£65 £123

L 500 0.13 -£203,445 -£208,520 -£213,595 -£228,820 -£254,195 N/A N/A N/A -£1,564,964 -£1,604,003 -£1,643,041 -£1,760,156 -£1,955,349 N/A N/A N/A -£797 -£602

M 500 0.13 -£151,447 -£156,528 -£161,609 -£176,853 -£202,259 N/A N/A N/A -£1,164,976 -£1,204,063 -£1,243,150 -£1,360,409 -£1,555,842 N/A N/A N/A -£693 -£498

H 500 0.13 -£98,673 -£103,754 -£108,835 -£124,079 -£149,485 N/A N/A N/A -£759,020 -£798,106 -£837,193 -£954,452 -£1,149,885 N/A N/A N/A -£587 -£392

L 3000 0.75 -£804,624 -£835,224 -£865,824 -£957,624 -£1,110,624 N/A N/A N/A -£1,072,831 -£1,113,631 -£1,154,431 -£1,276,831 -£1,480,831 N/A N/A N/A -£643 -£456

M 3000 0.75 -£487,990 -£518,590 -£549,190 -£640,990 -£793,990 N/A N/A N/A -£650,653 -£691,453 -£732,253 -£854,653 -£1,058,653 N/A N/A N/A -£538 -£350

H 3000 0.75 -£171,356 -£201,956 -£232,556 -£324,356 -£477,356 N/A N/A N/A -£228,474 -£269,274 -£310,074 -£432,474 -£636,474 N/A N/A N/A -£432 -£245

L 3000 0.60 -£1,924,256 -£1,955,006 -£1,985,756 -£2,078,006 -£2,231,756 N/A N/A N/A -£3,207,094 -£3,258,344 -£3,309,594 -£3,463,344 -£3,719,594 N/A N/A N/A -£941 -£791

M 3000 0.60 -£736,941 -£767,691 -£798,441 -£890,691 -£1,044,441 N/A N/A N/A -£1,228,234 -£1,279,484 -£1,330,734 -£1,484,484 -£1,740,734 N/A N/A N/A -£546 -£396

H 3000 0.60 £397,838 £370,675 £343,512 £262,023 £130,773 N/A N/A N/A £663,063 £617,791 £572,520 £436,705 £217,955 N/A N/A N/A -£167 -£17

L 2100 0.35 -£1,133,695 N/A N/A N/A N/A N/A N/A N/A -£3,239,128 N/A N/A N/A N/A N/A N/A N/A -£790 -£665


H 2100 0.35 -£247,304 N/A N/A N/A N/A N/A N/A N/A -£706,584 N/A N/A N/A N/A N/A N/A N/A -£368 -£243

L 500 0.13 -£459,206 N/A N/A N/A N/A N/A N/A N/A -£3,532,352 N/A N/A N/A N/A N/A N/A N/A -£1,308 -£1,113


H 500 0.13 -£142,568 N/A N/A N/A N/A N/A N/A N/A -£1,096,674 N/A N/A N/A N/A N/A N/A N/A -£675 -£480

L 2500 0.50 -£3,463,006 N/A N/A N/A N/A N/A N/A N/A -£6,926,011 N/A N/A N/A N/A N/A N/A N/A -£1,685 -£1,535

M 2500 0.50 -£2,935,337 N/A N/A N/A N/A N/A N/A N/A -£5,870,675 N/A N/A N/A N/A N/A N/A N/A -£1,474 -£1,324

H 2500 0.50 -£2,407,669 N/A N/A N/A N/A N/A N/A N/A -£4,815,338 N/A N/A N/A N/A N/A N/A N/A -£1,263 -£1,113





D2 Leisure Fitness

C2 Residential Institution Nursing Home

D1/D2 Community /Health Clinic or similar

B1, B2,

B8

Industrial /

Warehousing

Larege industrial warehousing

including offices

C1 Hotel Hotel - edge of town

B1(a) Offices Out of Town Office Building

B1, B2,

B8

Industrial /

Warehousing

Move on type industrial unit

including offices

A1-A5 Small Retail Convenience Store

B1(a) Offices Town Centre Office Building

A1 Medium Retail Smaller Supermarket

A1 Medium Retail Retail Warehouse

Residual Land Value (£/Ha)

CIL Range (£/m²)*Use Class / Type

A1 Large RetailLarge Supermarket (Out of

Town)

Residual Land Value (£)

Table 5: Residual Land Value Results by Use Class, Scheme Type, Value Level & CIL Rate PDL Benchmark Comparison

D|S|P Housing and Development Consultants Appendix II


(m²)Site Size (Ha)

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


L 4000 1.14 £1,908,161 £1,872,251 £1,836,341 £1,728,612 £1,549,063 £1,369,514 £1,189,965 £1,010,416 £1,673,825 £1,642,325 £1,610,825 £1,516,326 £1,358,827 £1,201,328 £1,043,829 £886,330 £263 £420

M 4000 1.14 £4,049,616 £4,013,707 £3,977,797 £3,870,067 £3,690,519 £3,510,970 £3,331,421 £3,151,872 £3,552,295 £3,520,795 £3,489,295 £3,394,796 £3,237,297 £3,079,798 £2,922,299 £2,764,800 £799 £955

H 4000 1.14 £6,191,072 £6,155,162 £6,119,253 £6,011,523 £5,831,974 £5,652,425 £5,472,876 £5,293,327 £5,430,765 £5,399,265 £5,367,765 £5,273,266 £5,115,767 £4,958,268 £4,800,769 £4,643,270 £1,334 £1,491

L 1300 0.33 -£81,610 -£94,903 -£108,195 -£148,073 -£214,535 -£280,998 -£347,460 -£413,923 -£247,303 -£287,584 -£327,864 -£448,705 -£650,106 -£851,508 -£1,052,909 -£1,254,311 -£253 -£114

M 1300 0.33 £624,320 £612,650 £600,979 £565,967 £507,613 £449,260 £395,626 £336,568 £1,891,880 £1,856,514 £1,821,148 £1,715,051 £1,538,223 £1,361,394 £1,198,867 £1,019,904 £290 £429

H 1300 0.33 £1,320,293 £1,308,623 £1,296,952 £1,261,940 £1,203,587 £1,145,233 £1,086,880 £1,028,526 £4,000,889 £3,965,523 £3,930,158 £3,824,061 £3,647,232 £3,470,404 £3,293,575 £3,116,747 £825 £965

L 1000 0.25 £761,863 £752,821 £743,780 £716,656 £671,450 £626,244 £581,038 £535,831 £3,047,450 £3,011,285 £2,975,120 £2,866,625 £2,685,800 £2,504,975 £2,324,150 £2,143,325 £574 £712

M 1000 0.25 £1,303,705 £1,294,664 £1,285,623 £1,258,499 £1,213,293 £1,168,087 £1,122,880 £1,077,674 £5,214,821 £5,178,656 £5,142,491 £5,033,996 £4,853,171 £4,672,346 £4,491,521 £4,310,696 £1,116 £1,254

H 1000 0.25 £1,845,548 £1,836,507 £1,827,466 £1,800,342 £1,755,136 £1,709,929 £1,664,723 £1,619,517 £7,382,192 £7,346,027 £7,309,862 £7,201,367 £7,020,542 £6,839,717 £6,658,892 £6,478,067 £1,658 £1,796

L 300 0.05 £99,413 £96,543 £93,673 £85,062 £70,712 £56,361 £42,011 £27,661 £1,988,257 £1,930,855 £1,873,453 £1,701,247 £1,414,238 £1,127,229 £840,220 £553,211 £206 £298

M 300 0.05 £184,141 £181,302 £178,464 £169,947 £155,753 £141,559 £128,766 £114,416 £3,682,826 £3,626,049 £3,569,272 £3,398,941 £3,115,057 £2,831,172 £2,575,324 £2,288,315 £489 £580

H 300 0.05 £264,010 £261,233 £258,457 £250,128 £236,246 £227,369 £213,175 £198,981 £5,280,190 £5,224,663 £5,169,136 £5,002,555 £4,724,920 £4,547,387 £4,263,502 £3,979,618 £755 £847

L 3000 0.60 -£1,185,795 -£1,216,545 -£1,247,295 -£1,339,545 -£1,493,295 N/A N/A N/A -£1,976,325 -£2,027,575 -£2,078,825 -£2,232,575 -£2,488,825 N/A N/A N/A -£545 -£435

M 3000 0.60 £168,388 £140,570 £114,079 £29,643 -£121,364 N/A N/A N/A £280,646 £234,283 £190,132 £49,405 -£202,273 N/A N/A N/A -£94 £16

H 3000 0.60 £1,359,721 £1,332,886 £1,306,051 £1,225,544 £1,091,367 N/A N/A N/A £2,266,202 £2,221,477 £2,176,751 £2,042,574 £1,818,945 N/A N/A N/A £303 £413





Use Class / Type

Residual Land Value (£/Ha)Residual Land Value (£)

Large Retail

A1 Smaller Supermarket

Large Supermarket (Out of

Town)

A1

A1-A5

Medium Retail

A1

Medium Retail

Small Retail

C1 Hotel

CIL Range (£/m²)*

Convenience Store

Retail Warehouse

Hotel - edge of town

Table 6: Residual Land Value Results by Use Class, Scheme Type, Value Level & CIL Rate Greenfield Benchmark Comparison - 6.5% Yield



(m²)Site Size (Ha)

Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land

Value - £0/m² CIL

Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


Residual Land


L 4000 1.14 £1,908,161 £1,872,251 £1,836,341 £1,728,612 £1,549,063 £1,369,514 £1,189,965 £1,010,416 £1,673,825 £1,642,325 £1,610,825 £1,516,326 £1,358,827 £1,201,328 £1,043,829 £886,330 £50 £263

M 4000 1.14 £4,049,616 £4,013,707 £3,977,797 £3,870,067 £3,690,519 £3,510,970 £3,331,421 £3,151,872 £3,552,295 £3,520,795 £3,489,295 £3,394,796 £3,237,297 £3,079,798 £2,922,299 £2,764,800 £585 £799

H 4000 1.14 £6,191,072 £6,155,162 £6,119,253 £6,011,523 £5,831,974 £5,652,425 £5,472,876 £5,293,327 £5,430,765 £5,399,265 £5,367,765 £5,273,266 £5,115,767 £4,958,268 £4,800,769 £4,643,270 £1,120 £1,334

L 1300 0.33 -£81,610 -£94,903 -£108,195 -£148,073 -£214,535 -£280,998 -£347,460 -£413,923 -£247,303 -£287,584 -£327,864 -£448,705 -£650,106 -£851,508 -£1,052,909 -£1,254,311 -£444 -£253

M 1300 0.33 £624,320 £612,650 £600,979 £565,967 £507,613 £449,260 £395,626 £336,568 £1,891,880 £1,856,514 £1,821,148 £1,715,051 £1,538,223 £1,361,394 £1,198,867 £1,019,904 £99 £290

H 1300 0.33 £1,320,293 £1,308,623 £1,296,952 £1,261,940 £1,203,587 £1,145,233 £1,086,880 £1,028,526 £4,000,889 £3,965,523 £3,930,158 £3,824,061 £3,647,232 £3,470,404 £3,293,575 £3,116,747 £635 £825

L 1000 0.25 £761,863 £752,821 £743,780 £716,656 £671,450 £626,244 £581,038 £535,831 £3,047,450 £3,011,285 £2,975,120 £2,866,625 £2,685,800 £2,504,975 £2,324,150 £2,143,325 £387 £574

M 1000 0.25 £1,303,705 £1,294,664 £1,285,623 £1,258,499 £1,213,293 £1,168,087 £1,122,880 £1,077,674 £5,214,821 £5,178,656 £5,142,491 £5,033,996 £4,853,171 £4,672,346 £4,491,521 £4,310,696 £929 £1,116

H 1000 0.25 £1,845,548 £1,836,507 £1,827,466 £1,800,342 £1,755,136 £1,709,929 £1,664,723 £1,619,517 £7,382,192 £7,346,027 £7,309,862 £7,201,367 £7,020,542 £6,839,717 £6,658,892 £6,478,067 £1,471 £1,658

L 300 0.05 £99,413 £96,543 £93,673 £85,062 £70,712 £56,361 £42,011 £27,661 £1,988,257 £1,930,855 £1,873,453 £1,701,247 £1,414,238 £1,127,229 £840,220 £553,211 £81 £206

M 300 0.05 £184,141 £181,302 £178,464 £169,947 £155,753 £141,559 £128,766 £114,416 £3,682,826 £3,626,049 £3,569,272 £3,398,941 £3,115,057 £2,831,172 £2,575,324 £2,288,315 £364 £489

H 300 0.05 £264,010 £261,233 £258,457 £250,128 £236,246 £227,369 £213,175 £198,981 £5,280,190 £5,224,663 £5,169,136 £5,002,555 £4,724,920 £4,547,387 £4,263,502 £3,979,618 £630 £755

L 3000 0.60 -£1,185,795 -£1,216,545 -£1,247,295 -£1,339,545 -£1,493,295 N/A N/A N/A -£1,976,325 -£2,027,575 -£2,078,825 -£2,232,575 -£2,488,825 N/A N/A N/A -£695 -£545

M 3000 0.60 £168,388 £140,570 £114,079 £29,643 -£121,364 N/A N/A N/A £280,646 £234,283 £190,132 £49,405 -£202,273 N/A N/A N/A -£244 -£94

H 3000 0.60 £1,359,721 £1,332,886 £1,306,051 £1,225,544 £1,091,367 N/A N/A N/A £2,266,202 £2,221,477 £2,176,751 £2,042,574 £1,818,945 N/A N/A N/A £153 £303






CIL Range (£/m²)*Use Class / Type

A1 Large RetailLarge Supermarket (Out of

Town)

A1 Medium Retail Smaller Supermarket

A1 Medium Retail Retail Warehouse

A1-A5 Small Retail Convenience Store

C1 Hotel Hotel - edge of town

Table 7: Residual Land Value Results by Use Class, Scheme Type, Value Level & CIL Rate PDL Benchmark Comparison - 6.5% Yield



Net RLV: -£190,417

DEVELOPMENT TYPE Commercial

USE CLASS B1(a) Offices

DEVELOPMENT DESCRIPTION Out of Town Offices

DEVELOPMENT SIZE (TOTAL m²) - GIA 3,000

VALUE AREA Medium Value

SITE SIZE (HA) 0.75

REVENUE

Rental Value (£/m²) £200

Yield (%) 7.50%

Annual Rental Income £600,000

Gross Development Value £8,000,000

Initial Void / Rent Free Period £0

Total Value of Scheme £8,000,000


Build Costs £4,908,750

Fees, Contingencies, Planning Costs etc £834,488

Site Preparation / Survey Costs etc £75,000

Other Costs £0

Sustainable Design & Construction Costs / BREEAM Costs £245,438

Total Build Costs £6,063,675

CIL Costs £300,000

Promotion, Sales & Letting Costs £66,000

Total s106 & Marketing Costs £366,000

Finance on Build Costs £160,742

TOTAL DEVELOPMENT COSTS £6,590,417


B1(a) Offices £1,600,000

Total Operating Profit £1,600,000

GROSS RESIDUAL LAND VALUE -£190,417


Arrangement Fee / Misc Fees (Surveyors etc) -£190

Agents Fees -£1,904

Legal Fees -£1,428

Stamp Duty £0

Interest on Land Purchase -£12,606

Total Finance & Acquisition Costs -£16,129

NET RESIDUAL LAND VALUE -£190,417 (ignores finance & acquisition

RLV (£ per Ha) -£253,889 costs if GRLV Negative)

Residual Land Value Data Summary & Results


Appendix III

Property Market Report





Market, Values and Assumptions Research

Background - Community Infrastructure Levy

Viability Assessment

Appendix III

Dixon Searle LLP

The Well House

28D Headley Road

Grayshott

Hindhead

GU26 6LD

www.dixonsearle.co.uk



Wycombe District Council – CIL Viability Assessment (DSP11023) – Appendix III 1

Appendix III contents Page (of this Appendix)

DSP New-build housing research 2 – 5

Overall residential market review (Local Community Areas) 6 – 11

Extended residential values research 12 – 31

Residential values summary (value levels) 32

Commercial & other property information 33 – 56

Other property information (market context and trends,

house price trends etc) 56 – 68

EGi Wycombe Town Report Extract




DSP New Build Housing Values Research – August / September 2011

(Current new build developments noted)

Address Description Price Size (m2)

Price per m2

Price Less 20%

Price Less 10%

Price Plus 10%

Developer / Agent

High Wycombe

Houses

Kingshill Grange, Kingshill Road

4 bed detached

£499,995 155.4 £3,217 £2,574 £2,896 £3,539

Taylor Wimpey

4 bed detached

£494,995 141.0 £3,511 £2,808 £3,160 £3,862

4 bed semi £399,995 115.9 £3,451 £2,761 £3,106 £3,796

4 bed terraced £367,995 115.0 £3,200 £2,560 £2,880 £3,520

4 bed terraced £344,995 115.0 £3,000 £2,400 £2,700 £3,300

4 bed terraced £339,995 121.3 £2,803 £2,242 £2,523 £3,083

4 bed terraced £339,995 115.3 £2,949 £2,359 £2,654 £3,244

Nightingale Place, Totteridge

4 bed detached

£499,950 128.0 £3,906 £3,125 £3,515 £4,296

Wye Residential- Amberleigh

Homes

4 bed detached

£489,950 117.0 £4,188 £3,350 £3,769 £4,606

3 bed semi £339,950 100.0 £3,400 £2,720 £3,060 £3,739

3 bed semi £339,950 100.0 £3,400 £2,720 £3,060 £3,739

3 bed semi £319,950 85.0 £3,764 £3,011 £3,388 £4,141

3 bed semi £319,950 85.0 £3,764 £3,011 £3,388 £4,141

Cedar Place, Wye Dene, London Road

3 bed townhouse

£359,950 143.2 £2,514 £2,011 £2,262 £2,765

St James Homes

(Berkeley Group)

3 bed townhouse

£319,950 106.4 £3,007 £2,406 £2,706 £3,308

3 bed townhouse

£300,000 89.2 £3,363 £2,691 £3,027 £3,700

3 bed townhouse

£290,000 89.2 £3,251 £2,601 £2,926 £3,576

Littleworth Road, Downley

3 bed detached

£320,000 72.0 £4,444 £3,556 £4,000 £4,889 Thompson

Wilson

Average £374,563 113.1 £3,335 £2,668 £3,001 £3,668

Flats

Kingshill Grange, Kingshill Road

2 bed flat £219,995 67.0 £3,284 £2,627 £2,955 £3,612

Taylor Wimpey

2 bed flat £199,995 59.4 £3,365 £2,692 £3,029 £3,702

1 bed flat £174,995 41.5 £4,215 £3,372 £3,793 £4,636

1 bed flat £172,995 41.5 £4,167 £3,333 £3,750 £4,583

1 bed flat £169,995 41.5 £4,094 £3,275 £3,685 £4,504





Price per m2

Price Less 20%

Price Less 10%

Price Plus 10%

Developer / Agent

Chilterns Gate, Wye Dene, London

Road

2 bed flat £199,950 60.3 £3,316 £2,653 £2,985 £3,648

St James Homes

(Berkeley Group)

1 bed flat £159,950 42.7 £3,742 £2,994 £3,368 £4,117

1 bed flat £155,950 40.5 £3,851 £3,080 £3,466 £4,236

1 bed flat £152,950 40.5 £3,777 £3,021 £3,399 £4,154

1 bed flat £149,950 39.5 £3,796 £3,037 £3,417 £4,176

Willow Tree Gardens, Plomer

Green Lane, Downley

2 bed flat £225,000 n/k n/k n/k n/k n/k

Wye Residential -Beeks Ltd










Marlow Hill 2 bed flat £189,950 52.0 £3,653 £2,922 £3,288 £4,018

Connells (Fairview

New Homes)

Marsden House, John North Close


Loughton Site Sales -

shared ownership








Eden Gardens, West Wycombe

Road

2 bed flat £180,000 65.0 £2,769 £2,215 £2,492 £3,046

Chancellors

2 bed flat £180,000 65.0 £2,769 £2,215 £2,492 £3,046

2 bed flat £175,000 65.0 £2,692 £2,154 £2,423 £2,962

1 bed flat £155,000 52.0 £2,981 £2,385 £2,683 £3,279

1 bed flat £155,000 52.0 £2,981 £2,385 £2,683 £3,279

Eden Gardens, West Wycombe

Road


Catalyst Housing -

shared ownership

Chairborough Court, Cressex Business Park, High Wycombe

2 bed flat £179,950 n/k n/k n/k n/k n/k Warren

Property Matters








Price per m2

Price Less 20%

Price Less 10%

Price Plus 10%

Developer / Agent







Lindsay Avenue

2 bed flat £179,950 61.0 £2,950 £2,360 £2,655 £3,245

Thompson Wilson

2 bed flat £164,950 57.0 £2,894 £2,315 £2,604 £3,183

1 bed flat £149,950 53.0 £2,829 £2,263 £2,546 £3,112

1 bed flat £144,950 42.5 £3,411 £2,728 £3,070 £3,752

West End Road 2 bed flat £170,000 n/k n/k n/k n/k n/k

Catalyst Housing -

shared ownership

Average £179,814 52.0 £3,377 £2,701 £3,039 £3,714

Marlow & SW Chilterns

Houses

154, Marlow Bottom

4 bed detached £550,000 n/k n/k n/k n/k n/k Thames Valley

Properties

Stokenchurch 3 bed semi £279,950 100.0 £2,800 £2,240 £2,520 £3,079 Andrew

Milsom 3 bed semi £279,950 100.0 £2,800 £2,240 £2,520 £3,079

Average £369,967 100.0 £2,800 £2,240 £2,520 £3,079

Chepping Wye Valley

Houses

Sawpit Hill, Hazlemere

3 bed semi £499,950 143.8 £3,477 £2,781 £3,129 £3,824 Robertsons

Average £499,950 143.8 £3,477 £2,781 £3,129 £3,824

Flats

Hughenden Court, Penn Road, Hazlemere

(Retirement Flats)

2 bed flat £326,950 58.0 £5,637 £4,510 £5,073 £6,201 McCarthy & Stone

(numbers of

remaining flats/prices estimated

2 bed flat £326,950 58.0 £5,637 £4,510 £5,073 £6,201

1 bed flat £259,950 49.5 £5,252 £4,201 £4,726 £5,777

1 bed flat £259,950 49.5 £5,252 £4,201 £4,726 £5,777

1 bed flat £259,950 49.5 £5,252 £4,201 £4,726 £5,777

1 bed flat £247,950 49.5 £5,009 £4,007 £4,508 £5,510





Price per m2

Price Less 20%

Price Less 10%

Price Plus 10%

Developer / Agent

1 bed flat £247,950 49.5 £5,009 £4,007 £4,508 £5,510 from website) 1 bed flat £247,950 49.5 £5,009 £4,007 £4,508 £5,510

Average £272,200 51.6 £5,257 £4,206 £4,731 £5,783

Note: New build 4 bed detached house for sale (requires completion), St John’s Avenue, Penn - £375,000.

North West Chilterns

Houses

Priory Gardens, Mill Lane, Princes

Risborough

4 bed detached £599,950 n/k n/k n/k n/k n/k

Croudace Homes

4 bed detached £599,950 n/k n/k n/k n/k n/k

2 bed semi £299,950 n/k n/k n/k n/k n/k

2 bed semi £249,950 n/k n/k n/k n/k n/k

2 bed terraced £229,950 n/k n/k n/k n/k n/k

Windmill Lane, Bledlow Ridge

4 bed detached £535,000 129.5 £4,131 £3,305 £3,718 £4,544 Thompson

Wilson 4 bed detached £479,500 116.0 £4,134 £3,307 £3,720 £4,547

4 bed detached £445,000 110.0 £4,045 £3,236 £3,641 £4,450

Woodlands, Clifford Road,

Princes Risborough

4 bed detached £499,950 166.3 £3,006 £2,405 £2,706 £3,307 Tim Russ & Co 2 bed semi £289,950 90.8 £3,193 £2,555 £2,874 £3,513

Innkeepers Court, Longwick, Princes

Risborough 4 bed detached £499,950 152.0 £3,289 £2,631 £2,960 £3,618

Strutt & Parker

Warrendene Road, Hughenden Valley

3 bed semi £475,000 149.0 £3,188 £2,550 £2,869 £3,507 Wynyard, Wright &

Ellis 3 bed semi £475,000 149.0 £3,188 £2,550 £2,869 £3,507

Thame Road, Longwick

3 bed semi £399,950 120.0 £3,333 £2,666 £3,000 £3,666 Bonners & Babingtons

Kimblewick Road, Great Kimble

3 bed semi £365,000 104.0 £3,510 £2,808 £3,159 £3,861 Michael Graham

Jasmine Crescent 2 bed bungalow £249,950 62.0 £4,031 £3,225 £3,628 £4,435 The JNP Partnership

Average £428,568 122.6 £3,550 £2,840 £3,195 £3,905

Flats

Priory Gardens, Mill Lane, Princes

Risborough

2 bed flat £274,950 n/k n/k n/k n/k n/k Croudace Homes 1 bed flat £199,950 n/k n/k n/k n/k n/k

Average £237,450 n/k n/k n/k n/k n/k




Overall market review – Values patterns - Re-sales Values Research

High Wycombe Local Community Area (773 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a £231,317 £323,428 £433,142 Semi-Detached n/a £206,020 £235,090 £279,323 Terraced n/a £186,580 £228,511 £292,985 Flats £130,924 £168,550 n/a n/a Bungalows n/a £256,141 £306,250 £406,661

Overall Average Minimum

1st Quartile Median

3rd Quartile Maximum

1-Bed Flats £130,924 £65,000 £117,875 £129,975 £144,950 £174,995

2-Bed Flats £168,550 £109,950 £150,000 £170,000 £182,500 £249,950

2-Bed Houses £196,137 £139,995 £176,725 £194,950 £214,950 £360,000

3-Bed Houses £248,230 £155,000 £214,950 £235,000 £274,988 £450,000

4-Bed Houses £389,388 £180,000 £319,950 £379,950 £447,475 £755,000

2-Bed Bungalows £256,141 £179,950 £225,000 £265,000 £299,950 £329,950

3-Bed Bungalows £306,250 £209,950 £268,738 £314,950 £337,488 £390,000

4-Bed Bungalows £406,661 £315,000 £340,000 £410,000 £430,000 £575,000

September 2011, www.rightmove.co.uk




Marlow & SW Chilterns Local Community Area (417 properties)



1st Quartile Median


1-Bed Flats £167,190 £120,000 £152,488 £165,000 £187,750 £199,950

2-Bed Flats £258,905 £131,000 £167,500 £220,000 £285,000 £725,000

2-Bed Houses £294,222 £174,995 £220,496 £267,475 £343,700 £690,000

3-Bed Houses £348,461 £199,950 £259,950 £315,000 £384,988 £1,300,000

4-Bed Houses £558,217 £233,000 £399,950 £525,000 £635,000 £1,350,000

2-Bed Bungalows £356,465 £275,000 £321,213 £344,950 £396,200 £449,950

3-Bed Bungalows £510,256 £150,000 £346,238 £442,475 £567,313 £1,600,000

4-Bed Bungalows £521,795 £389,950 £424,975 £499,950 £587,475 £750,000





Chepping Wye Valley Local Community Area (435 properties)



1st Quartile Median


1-Bed Flats £173,275 £119,950 £143,988 £153,250 £201,213 £259,950

2-Bed Flats £213,321 £134,950 £159,950 £189,950 £238,738 £495,000

2-Bed Houses £257,769 £166,250 £229,950 £245,000 £256,213 £499,950

3-Bed Houses £317,480 £189,950 £249,950 £292,450 £341,250 £795,000

4-Bed Houses £499,106 £262,000 £385,000 £430,000 £565,000 £1,050,000

2-Bed Bungalows £356,188 £185,000 £309,500 £329,950 £369,995 £580,000

3-Bed Bungalows £444,363 £275,000 £354,988 £377,500 £468,738 £895,000

4-Bed Bungalows £567,259 £275,000 £462,475 £499,950 £635,000 £995,000





NW Chilterns Local Community Area (272 properties)



1st Quartile Median


1-Bed Flats £135,961 £99,950 £118,950 £129,950 £140,000 £199,950

2-Bed Flats £202,471 £129,950 £173,700 £197,475 £218,738 £280,000

2-Bed Houses £247,816 £159,950 £225,000 £249,950 £282,450 £345,000

3-Bed Houses £453,783 £209,950 £287,475 £325,000 £375,000 £820,000

4-Bed Houses £572,846 £249,950 £412,463 £545,000 £699,713 £1,250,000

2-Bed Bungalows £294,850 £230,000 £250,000 £272,500 £328,713 £425,000

3-Bed Bungalows £438,895 £345,000 £374,975 £425,000 £487,475 £595,000

4-Bed Bungalows £542,767 £399,950 £475,000 £570,000 £599,950 £650,000





Wycombe District Council Data – Local Community Areas

– Indicative values hierarchy (based on 4 above tables sets)

Average Asking Prices Analysis - Flats and Houses

Settlement 1 Bed Flats

2 Bed Flats

2 Bed House

3 Bed House

4 Bed House

All Properties

North West Chilterns £135,961 £202,471 £247,816 £363,011 £572,846 £434,489

SW Chilterns & Marlow £167,190 £258,905 £294,222 £348,461 £558,217 £379,306

Chepping Wye Valley £173,275 £213,321 £257,769 £317,480 £499,106 £331,441

High Wycombe £130,924 £168,550 £196,137 £248,230 £389,388 £223,770

Overall £141,606 £194,669 £244,607 £301,218 £508,725 £310,491

Average Asking Price Analysis

Flats and Houses

1 Bed Flat - £141,606 2 Bed Flat - £194,669

2 Bed House

Terraced £226,846 Semi-

Detached £253,262 Detached £362,808

3 Bed House



4 Bed House






Average Asking Prices Analysis - Bungalows

Settlement 2 Bed

Bungalow 3 Bed

Bungalow 4 Bed

Bungalow All

Properties

SW Chilterns & Marlow £356,465 £510,256 £521,795 £474,077

Chepping Wye Valley £356,188 £444,363 £567,259 £441,019

North West Chilterns £294,850 £438,895 £542,767 £395,264

High Wycombe £256,141 £306,250 £406,661 £307,428

Overall £310,993 £422,774 £513,111 £402,671

Average Asking Price Analysis - Bungalows

2 Bed Bungalow - £310,993 3 Bed Bungalow - £422,774 4 Bed Bungalow - £513,111





Wycombe DC Extended Residential Values Research October 2011

Zoopla Sourced example data 19.10.11

Source: www.zoopla.co.uk (19/10/2011)

Average values data (searched on settlement / locality names)

follows:

(Source of information in tables on this and following pages: www.zoopla.co.uk - October 2011)




Flackwell Heath Property

type Avg. current

value Ave. £ per sq ft. Ave. no. of beds

Ave. £ paid (last 12 months)

Detached £449,290 £264 3.7 £427,476

Semi-detached

£321,349 £271 3.1 £324,665

Terraced £252,425 - 2.9 £228,917

Flats £199,371 - 2.0 £202,500

Period Average Price Paid (£) No. of sales

Last year 338,843 54

Last 3 years 342,367 184

Last 5 years 340,128 364

Last 7 years 330,293 560

Average current value estimate: £371,048 Average current asking price: £353,193

Wooburn Green

Property type

Ave. current value

Ave. £ per sq ft. Ave. no. of beds Ave. £ paid

(last 12 months)

Detached £510,820 £323 3.8 £651,000

Semi-detached

£293,184 £291 3.0 £278,690

Terraced £266,686 £326 2.6 £295,100

Flats £204,346 £271 1.8 £164,286



Last 3 years 319,572 190

Last 5 years 316,188 402

Last 7 years 295,325 629


Source: www.zoopla.co.uk - October 2011




Bourne End Property

type Ave. current



Detached £704,255 £326 4.0 £662,273

Semi-detached

£355,119 £322 3.3 £395,905

Terraced £310,070 £310 2.7 £254,996

Flats £242,836 £303 1.9 £227,555



Last 3 years 414,421 249

Last 5 years 427,593 462

Last 7 years 411,988 701

Average current value estimate: £467,623 Average current asking price: £749,843 (only 9 properties)

High Wycombe

Property type

Ave. current value


(last 12 months)

Detached £451,749 £284 3.9 £437,216

Semi-detached

£248,020 £263 3.1 £250,577

Terraced £215,544 £263 2.7 £223,591

Flats £161,530 £256 1.7 £162,361


Last year 273,387 1,224

Last 3 years 271,785 4,049

Last 5 years 270,834 8,977

Last 7 years 260,647 13,817






Loudwater Property

type Ave. current



Detached £370,564 £254 3.6 £399,375

Semi-detached

£259,944 £272 3.0 £279,700

Terraced £228,722 - 2.5 £259,650

Flats £171,268 £203 1.8 £138,000



Last 3 years 231,131 63

Last 5 years 244,136 156

Last 7 years 231,274 235

Average current value estimate: £260,405 Average current asking price: £241,933 (9 properties)

Lane End

Property type

Ave. current value


(last 12 months)

Detached £464,499 £286 3.7 £332,350

Semi-detached

£263,175 £276 3.0 £259,333

Terraced £219,032 £290 2.7 £215,300

Flats £248,436 - 1.0 £370,000



Last 3 years 303,626 79

Last 5 years 294,476 160

Last 7 years 285,080 265

Average current value estimate: £312,390 Average current asking price: £487,488 (12 properties)




Hazlemere Property

type Ave. current



Detached £419,276 £272 3.9 £442,623

Semi-detached

£273,951 £264 3.2 £267,634

Terraced £244,796 £265 3.0 £257,409

Flats £235,440 £282 2.1 £226,362



Last 3 years 301,370 324

Last 5 years 312,537 637

Last 7 years 299,680 959


Downley

Property type

Ave. current value


(last 12 months)

Detached £369,550 £271 3.8 £386,136

Semi-detached

£257,217 £270 3.1 £262,997

Terraced £232,196 £326 2.8 £223,783

Flats £177,669 - 2.0 £205,062



Last 3 years 263,357 159

Last 5 years 268,632 279

Last 7 years 260,254 397






Booker, High Wycombe Property

type Ave. current

value Ave. £ per sq ft. Avg. no. of beds


Detached £311,145 - 3.0 -

Semi-detached

£247,729 - - -

Terraced - - - -

Flats - - - -

(Data sample too small to be a firm guide)


Last year N/A 0

Last 3 years 269,975 2



Average current value estimate: £304,099 Average current asking price: £355,000 (only 1 property)

West Wycombe

Property type

Ave. current value


(last 12 months)

Detached £547,506 - 4.9 -

Semi-detached

£276,997 - 3.3 £210,650

Terraced £265,428 - - £265,000

Flats - - - -


Last year

No data Last 3 years

Last 5 years

Last 7 years

Average current value estimate: £330,376 Average current asking price: £299,950 (only 1 property)





Marlow Property

type Ave. current



Detached £672,219 £383 3.9 £662,357

Semi-detached

£405,494 £380 3.3 £406,043

Terraced £350,741 £350 2.8 £375,240

Flats £292,893 £406 1.9 £280,069


Last year 489,494 225

Last 3 years 455,590 757

Last 5 years 466,282 1,509

Last 7 years 443,346 2,339


Stokenchurch

Property type

Ave. current value


(last 12 months)

Detached £367,821 £249 3.8 £332,993

Semi-detached

£246,314 £249 3.1 £306,250

Terraced £208,706 £231 2.9 £221,063

Flats £154,379 £242 1.9 £145,600



Last 3 years 246,761 122

Last 5 years 253,789 271

Last 7 years 244,219 439






Radnage Property

type Ave. current



Detached £620,567 £337 4.1 £577,917

Semi-detached

£395,004 - 3.6 £477,667

Terraced £297,864 - 2.0 -

Flats - - - -


Last year 544,900 9

Last 3 years 589,370 23

Last 5 years 619,223 43

Last 7 years 557,548 63


Ibstone

Property type

Ave. current value


(last 12 months)

Detached £775,356 £349 4.3 -

Semi-detached

£353,644 - 3.8 -

Terraced - - - -

Flats - - - -


Last year N/A 0


Last 5 years 702,714 14

Last 7 years 690,091 22

Average current value estimate: £677,284 Average current asking price: £1,028,750 (only 4 properties)





Turville Property

type Ave. current



Detached £1,252,093 - - £800,000

Semi-detached

£441,724 - - -

Terraced £416,823 - - -

Flats £547,332 - - -


Last year 800,000 1


Last 5 years 778,000 10

Last 7 years 619,400 15

Average current value estimate: £696,446 Average current asking price: £N/A (0 properties)

Fawley

Property type

Ave. current value


(last 12 months)

Detached £1,795,059 - 4.7 -

Semi-detached

£642,236 - - -

Terraced - - - -

Flats - - - -


Last year N/A 0

Last 3 years 1,154,250 4

Last 5 years 1,333,555 9

Last 7 years 1,097,799 15

Average current value estimate: £1,590,185 Average current asking price: £1,600,000 (1 property)





Hambleden Property

type Ave. current



Detached £1,428,126 £531 4.9 £1,703,703

Semi-detached

£524,426 £407 3.0 £1,600,000

Terraced £552,041 - 3.2 -

Flats £399,150 £438 2.0 £249,950


Last year 1,392,212 5

Last 3 years 1,227,680 17

Last 5 years 1,057,783 32

Last 7 years 954,056 49

Average current value estimate: £933,996 Average current asking price: £1,250,000 (only 1 property)

Medmenham

Property type

Ave. current value


(last 12 months)

Detached £1,410,578 £360 4.0 £727,500

Semi-detached

£678,366 £517 3.5 -

Terraced £550,675 - 2.2 -

Flats - - - -


Last year 727,500 2

Last 3 years 577,583 12

Last 5 years 1,059,850 20

Last 7 years 964,199 29

Average current value estimate: £1,066,990 Average current asking price: £1,850,000 (only 2 properties)





Horsleys Green Property

type Ave. current



Detached £478,443 £360 3.2 £335,000

Semi-detached

£262,329 - - -

Terraced - - - -

Flats - - - -


Last year


Last 5 years

Last 7 years


Studley Green

Property type

Ave. current value


(last 12 months)

Detached £366,231 - 3.5 -

Semi-detached

£321,970 - 3.2 -

Terraced - - - -

Flats - - - -


Last year


Last 5 years

Last 7 years






Beacons Bottom Property

type Ave. current

value Ave. £ per sq ft. Ave. no of beds


Detached £444,286 £247 3.9 -

Semi-detached

£360,651 - 3.2 £283,000

Terraced £288,123 - - -

Flats - - - -


Last year


Last 5 years

Last 7 years


Bledlow Ridge

Property type

Ave. current value


(last 12 months)

Detached £632,307 £306 4.1 £586,333

Semi-detached

£404,519 - 3.5 £295,000

Terraced - - - -

Flats - - - -


Last year 513,500 8

Last 3 years 493,714 21

Last 5 years 565,914 46

Last 7 years 519,263 79

Average current value estimate: £598,723 Average current asking price: £708,317 (3 properties only)





Bradenham Property

type Ave. current



Detached £726,297 - 4.3 -

Semi-detached

- - - -

Terraced - - - -

Flats - - - -


Last year


Last 5 years

Last 7 years


Walters Ash

Property type

Ave. current value

Ave. £ per sq ft. Ave. no. of beds Ave. £ paid (last 12m)

Detached £468,322 £291 3.7 £475,990

Semi-detached

£298,935 - 3.3 £425,000

Terraced - - 3.0 -

Flats £138,577 - - -


Last year 467,492 6

Last 3 years 382,748 22

Last 5 years 384,336 37

Last 7 years 356,574 55

Average current value estimate: £382,388 Average current asking price: £302,475 (only 2 properties





Lacey Green Property

type Ave. current



Detached £524,299 £282 4.1 £487,500

Semi-detached

£318,351 £219 3.6 £325,000

Terraced £287,712 - 3.5 £422,500

Flats £152,459 - - -


Last year 433,333 3

Last 3 years 403,338 17

Last 5 years 414,086 49

Last 7 years 416,680 76


Loosley Row

Property type

Ave. current value


(last 12 months)

Detached £678,977 £268 4.4 £712,500

Semi-detached

£384,768 - 3.0 -

Terraced £413,003 - - -

Flats - - - -


Last year 712,500 5

Last 3 years 575,893 14

Last 5 years 536,931 22

Last 7 years 521,666 33

Average current value estimate: £591,012 Average current asking price: £675,000 (1 property only)





Princes Risborough Property

type Ave. current



Detached £538,161 £303 4.0 £489,917

Semi-detached

£285,976 £285 3.1 £292,623

Terraced £256,732 £271 2.6 £233,324

Flats £167,464 £234 1.9 £199,197


Last year 362,064 150

Last 3 years 372,484 425

Last 5 years 384,329 861

Last 7 years 371,024 1,288


Monks Risborough

Property type

Ave. current value


(last 12 months)

Detached £494,460 £278 4.0 £462,048

Semi-detached

£271,873 - 2.9 £279,695

Terraced £251,833 - 2.3 £246,750

Flats £170,149 - - -



Last 3 years 393,524 55

Last 5 years 398,528 97

Last 7 years 390,795 124






Longwick Property

type Ave. current



Detached £400,509 £229 3.7 £510,450

Semi-detached

£306,734 - 3.2 -

Terraced £324,041 - 2.6 £246,750

Flats £242,991 - - -


Last year 466,500 6

Last 3 years 365,082 33

Last 5 years 362,586 70

Last 7 years 349,608 104


Little Kimble

Property type

Ave. current value


(last 12 months)

Detached £671,325 £330 4.4 £491,250

Semi-detached

£362,686 £332 3.0 £342,500

Terraced £314,749 - - -

Flats - - - -


Last year 416,875 4


Last 5 years 470,830 15

Last 7 years 418,469 30






Great Kimble Property

type Ave. current



Detached £592,426 £365 4.0 -

Semi-detached

£318,026 - 2.5 £285,000

Terraced £238,072 - - -

Flats £185,297 - - -


Last year 285,000 3

Last 3 years 451,853 13

Last 5 years 405,490 21

Last 7 years 381,758 32


Ellesborough

Property type

Ave. current value


(last 12 months)

Detached £673,156 - 4.7 £662,500

Semi-detached

£121,232 - - -

Terraced - - - -

Flats - - - -


Last year 662,500 1









Great Hampden Property

type Ave. current

value Ave. £ per sq ft. Ave. no. of beds Ave. £ paid (last 12m)

Detached - - - -

Semi-detached

£509,795 - - -

Terraced - - - -

Flats - - - -


Last year N/A 0

Last 3 years N/A 0




Little Hampden

Property type

Ave. current value

Ave. £ per sq ft. Ave. no. of beds Ave. £ paid (last 12m)

Detached £1,225,300 - 4.3 -

Semi-detached

£523,470 - 3.0 -

Terraced - - - -

Flats - - - -


Last year N/A 0




Average current value estimate: £1,069,338 Average current asking price: £N/A (0 properties) Source: www.zoopla.co.uk - October 2011




Indicative values hierarchy – Values patterns DSP analysis from above based zoopla research – Highest to lowest (Based on ave. sold prices, last 5 years from above tables – more data across area on that basis, rather than taking a more recent view only)

Fawley

1,333,555

Medmenham

1,059,850

Hambleden

1,057,783

Little Hampden

871,667

Turville

778,000

Ellesborough

765,000

Ibstone

702,714

Radnage

619,223

Bledlow Ridge

565,914

Loosley Row

536,931

Great Hampden

525,000

Little Kimble

470,830

Marlow

466,282

Bourne End

427,593

Lacey Green

414,086

Great Kimble

405,490

Monks Risborough

398,528

Walters Ash

384,336

Princes Risborough

384,329

Longwick

362,586

Flackwell Heath

340,128

Wooburn Green

316,188




Hazlemere

312,537

Booker, High Wycombe

299,316

Lane End

294,476

High Wycombe

270,834

Downley

268,632

Stokenchurch

253,789

Loudwater

244,136

Note: Areas excluded from the above (no comparable data):

West Wycombe

No data

Horsleys Green

No data

Studley Green

No data

Beacons Bottom

No data

Bradenham

No data Other notes on above zoopla sourced review information:

Totteridge – not recognised (part of wider postcode view only)

Cressex area – no data

Hughenden – no data

Handy Cross – no data

Bledlow-cum-Saunderton – no data

There will always be exceptions and imperfections in any attempt to define values patterns /areas.




Residential Values Summary

Overall, for the purposes of this strategic overview of the viability scope for CIL, we decided to

focus our appraisals around the following values range - represented by what we refer to as

Values Levels 1 to 5 (1 being the lowest level trialed; 5 the highest).

In very general terms the value levels appraised can be loosely aligned with High Wycombe

values in or around value levels 2-3; Princes Risborough value levels around 2-4 and Marlow at

the upper end of 3-4, occasionally reaching value level 5.

WDC new build housing assumptions - Values Range

Value Level

1-Bed Flats 2-Bed Flats 2-Bed

Houses 3-Bed

Houses 4-Bed

Houses £ / sq m

guide £ / sq ft

guide

1 £112,500 £150,000 £187,500 £237,500 £312,500 £2,500 £232

2 £135,000 £180,000 £225,000 £285,000 £375,000 £3,000 £278

3 £157,500 £210,000 £262,500 £332,500 £437,500 £3,500 £325

4 £180,000 £240,000 £300,000 £380,000 £500,000 £4,000 £372

5 £202,500 £270,000 £337,500 £427,500 £562,500 £4,500 £418

Source: DSP from overview of residential research (indicative prices based on assumed market dwellings floor areas – key information being the

range of per sq ft /m sales values levels, which can also be applied to other dwelling types and sizes. In practice dwelling sizes will vary – the

above have been selected for the purposes of this study. Value levels 1 to 5 indicate increasing values as seen varying through location and / or

market conditions).

Values assume:

1-bed flat at 45 sq m (484 sq ft)

2-bed flat at 60 sq m (646 sq ft)

2-bed house at 75 sq m (807 sq ft)



(But note that the £/sq m (or £/sq ft) rates are the key measure and can be applied to any property

types / sizes)




Commercial Property – Rents, Yields and other information

– Examples and indications as available

Type / Details Size – sq m Rental or freehold price indication

Yield indication (where known)

Source / Other / comments

INDUSTRIAL / Warehousing - Examples

9 Wycombe Industrial Mall, West End Street, High Wycombe

165 sq m Quoting £12,000 p.a. rental (£73/sq m) or freehold at £165,000 (£1000/sq m).

(suggests circa 7.3% yield indication, but unconfirmed)

Wycombe DC Land and Property listing September 2011. Agents Brown & Merry Commercial.

10 Wycombe Industrial Mall, West End Street, High Wycombe

97 sq m Quoting £10,500 p.a. rental (£108/sq m) or freehold at £160,000 (£1649/sq m).

(suggests circa 6.6% yield indication, but unconfirmed)

Wycombe DC Land and Property listing September 2011. Agents Brown & Merry Commercial.

Lords Mill, Oakridge Road, High Wycombe

156 sq m Quoting £96/sq m.

EGi Availability – as at 12/09/11. To let – Duncan Bailey Kennedy. Currently used as offices.

Units G & H, Hillbottom Road, Sands Industrial Estate, Wycombe

1282 – 2592 sq m

Quoting £7/sq ft i.e. £75/sq m

EGi Availability – as at 12/09/11. To let – Aitchison Raffety




Wellington Road, Cressex Business Park, Wycombe

1440 sq m on self contained site of 0.96 acres

Rental quoted at £30,000 p.a. equates to £21/sq m. Long leasehold interest available at £400,000.

Suggests 7.5% yield indication – not quoted or confirmed. Suggests land price guide equating to £417,000/acre or approx. £1.03m/Ha if considered as a site.

EGi Availability – as at 26/08/11. To let – Duncan Bailey Kennedy

U1, Rose Business Estate, Marlow Bottom, Marlow

108 sq m Quoting £8.50/sq ft (£91/ sq m)


Unit 10, First Avenue, Globe Park, Marlow

1196 sq m Quoting £6.95/sq ft (£75/sq m)


Thames House, Mere Park, Dedmere Road, Marlow

167 sq m Quoting £16/sq ft (£172/sq m)


Lincoln Park Business Centre, Lincoln Road, Cressex Estate, Wycombe

345 sq m Quoting £58/sq m


Unit G, Rose Business Estate, Marlow – as above.

131 sq m Quoting £8.50/sq ft (£91/ sq m)


Unit 1, Le Flaive Business Park, Church Lane, Naphill






Unit 16 Lincoln Park Business Centre, Lincoln Road, Cressex Estate, Wycombe



Norths Estate, Old Oxford Road, Piddington

76 sqm Quoting £91/sq m


Unit 12, Wye Industrial Estate, London Road, Wycombe



Unit B5 Regent Park, Summerleys Road, Princes Risborough


EGi Availability – as at 27/07/11. Last of these units available - Stupples.

2 Hughenden Avenue, High Wycombe

2015 sq m Quoting £75/sq m. Freehold also available quoting £1.65m

(Suggests circa 9% indication – not quoted)

EGi Availability – as at 16/06/11. To let / for sale – Gerald Eve

Rose Industrial Estate, Marlow

104 – 212 sq m

Quoting £7.50/sq ft (£81/sq m)

EGi Availability – as at 16/06/11. To let – Kempton Carr Croft

Ministry Wharf, Saunderton, Wycombe

157 sq m Quoting approx £76/ sq m

EGi Availability – as at 16/06/11. To let - Stupples

6 Soho Mills, Wooburn Green


EGi Availability – as at 16/06/11. To let – Deriaz Slater

Unit 5, Tannery Road, Gomm Road, Wycombe

930 sq m Quoting £42.50/sq m. May also be available for sale – no price indicated.





Units A & C Hillbottom Road, Sands Industrial Estate – as above

1421 – 1746 sq m

Quoting £7/sq ft i.e. £75/sq m

EGi Availability – as at 14/06/11. To let – Aitchison Raffety

Building 2 Hillbottom Road – as above

1681 sq m Quoting £42.50/sq m - warehouse


Soundsorba House, Shaftsbury Street, Wycombe



Wellington Road, Cressex Business Park, Wycombe

516 sq m Quoting £7/sq ft (£75/sq m). Currently set us as trade counter / warehousing.


Union Estate, 1-4 Hillbottom Road; as above

471 – 694 sq m

Quoting £6/sq ft (£65/sq m). Indication may also be available freehold.


9 York Way, Cressex Business Park, Wycombe

120 sq m Quoting £117/sq m rental or £210,000 freehold (indicates £1750/sq m freehold)

(Suggests circa 6.6% yield indication – not quoted)

EGi Availability – as at 01/06/11 - Stupples




Unit 4, Fieldhouse lane, Marlow

321 sq m Quoting £93/sq m rental or available long leasehold from WDC quoting £425,000 (£1324/sq m freehold).

(Suggests circa 7% yield indication – not quoted)


Unit 4 Barnes Wallis Court, Wellington Road, Cressex Estate, Wycombe



Knaves Beech Way, Wycombe


EGi Availability – as at 13/05/11. To let – Philip Marsh Collins Deung

134-136 Lane End Road, Wycombe



15 Station Road, Wycombe



Maygilt House, Grafton Street, Wycombe

319 sq m Quoting £88/sq m to rent or £325,000 freehold (indicates £1019/sq m freehold)

(Suggests yield indication approx 8.5%)


Dashwood Works Industrial Centre


EGi Availability – as at 07/12/10. To let – Stupples

Unit 12 London Road, Wycombe



10 Britannia Industrial Park






19 Lincoln Road, Cressex Estate, Wycombe

248 sq m Quoting from £53/sq m)


Brow Business Centre, Copyground Lane, Wycombe


EGi Availability – as at 17/08/11. To let – Stupples.

OUT OF TOWN / LARGE RETAIL - Examples

Retail warehouses (large non-food retail – out of centres)

Retail warehouse, Bellfield Road, High Wycombe (Carpetright unit) HP13 5HN

752 sq m £160/sq m VOA Rating list 01/04/10 – current rateable value (RV) £120,000

Ditto (Comet Unit)

532 sq m £160/ sq m VOA Rating list 01/04/10 – current rateable value (RV) £85,000

Ditto (Focus DIY unit)


185-197 Gordon Road, High Wycombe HP13 6AR


Ditto (Majestic Wine Unit)


Unit D1, Knaves Beech Business Centre, Davies Way, Loudwater, HP10 9QY


Ditto – Unit D2 972 sq m £150/sq m VOA Rating list 01/04/10 – current rateable value (RV) £145,000




Ditto – Unit E 5178 sq m £150/sq m VOA Rating list 01/04/10 – current rateable value (RV) £695,000

300 London Road High Wycombe, HP11 1LJ


330-336 London Road, High Wycombe, HP11 1LH


635 London Road, High Wycombe, HP11 1EZ


412-416 London Road, High Wycombe, HP11 1LP (Tile Trading unit)

517 sq m £155 / sq m VOA Rating list 01/04/10 – current rateable value (RV) £60,000

London Road, High Wycombe, HP11 1EZ (B&Q Unit)


29-31 Oxford Street, High Wycombe HP11 2DJ


Pink Road, Lacey Green, Princes Risborough, HP27 0PG

2036 sq m £32.50/sq m VOA Rating list 01/04/10 –

Queen Alexandra Road, High Wycombe, HP11 2JX (Staples Office store unit)

1426 sq m £190/sq m VOA Rating list 01/04/10 – current rateable value (RV) £270,000.




Short Street, High Wycombe, HP11 2QH (Dulux Decorator Centre Unit)


30-32 The Parade, Marlow Road, Bourne End, SL8 5SY

796 sq m £67.50/sq m VOA Rating list 01/04/10 – current rateable value (RV) £45,500

Unit A Wycombe Retail Park, Ryemead Way, HP11 1FY


Ditto – Unit B 929 sq m £285/sq m VOA Rating list 01/04/10 – current rateable value (RV) £299,000

Ditto – Unit C 3250 sq m £285/sq m VOA Rating list 01/04/10 – current rateable value (RV) £815,000


Ditto – Unit D2/D3



Ditto – Unit E 1476 sq m £285/sq m VOA Rating list 01/04/10 – current rateable value (RV) £430,000




LARGE FOOD RETAIL - Examples

Tesco, Longwick Road, Princes Risborough, HP14 7SL

2,057 sq m RV as an indication of rental value of principal space at £200/sq m.

VOA Rating list 01/04/10 – current rateable value (RV) £410,000.

Tesco, London Road, Loudwater, High Wycombe HP10 9RT

6,126 sq m total of which 5,865 sq m valued at £285/sq m

RV as an indication of rental value of principal space at £285/sq m.

VOA Rating list 01/04/10 – current rateable value (RV) £1,700,000.

Tesco, Newlands Street, High Wycombe HP11 2JD

9,296 sq m RV as an indication of rental value of principal space at £85/sq m.

VOA Rating list 01/04/10 – current rateable value (RV) £790,000.

J Sainsbury, Oxford Road, High Wycombe, HP11 2EB

9,259 sq m (excluding first floor area of 2025 sq m)

RV as an indication of rental value of principal space at £280/sq m. (First floor area at £120/sq m)

VOA Rating list 01/04/10 – current rateable value (RV) £2,830,000 (including first floor area to which is attributed £243,000).

Morrisons, Bellfield Road, High Wycombe, HP13 5HW

5116 sq m (including 130 sq m lower value ancillary)

RV as an indication of rental value of principal space at £260/sq m.

VOA Rating list 01/04/10 – current rating assessment £1,302,620 (RV is £1,400,000 including Petrol forecourt and shop, to which is attributed £102,270).




Asda, Crest Road, High Wycombe, HP11 1UA

9,000 sq m main areas plus approx 500 sq m ancillary

Main areas at £295/sq m; ancillary at max. £73/sq m.

VOA Rating list 01/04/10 – current RV is £2,750,000 including Petrol forecourt and shop, to which is attributed £70,890).

RETAIL – Centres / Local Parades - Examples

5 Kingswood Parade, Marlow Bottom

56 sq m Rental indication £11,500 p.a. (£205/sq m) or freehold quoted at £150,000 (£2679/sq m)

(Suggests yield indication of 7.7%)

Wycombe DC Land & Property web pages Sept 2011. Agents DBK.

High Street, Princes Risborough

301 Rental indication £52,500 p.a. after proposed works. Indicates circa £174/sq m.

EGi Availability – as at 06/09/11. Shop in local parade. To let after extension works – Duncan Bailey Kennedy.

Duke Street, Princes Risborough

Approx 127 sq m.

Rental indication £20,000 p.a. after discounted year 1 rent. Indicates circa £157/sq m. Freehold price indication of £275,000 also quoted.

(Suggests yield indication approx. 7.3% at full rent but unconfirmed).

EGi Availability – as at 25/08/11. Shop in local parade. To let / for sale – Duncan Bailey Kennedy.




Unit 7, Hazlemere Park Parade, Hazlemere, Wycombe

60 sq m Rental indication approx. £283/sq m overall

EGi Availability – as at 25/08/11. Shop in local parade. To let – Duncan Bailey Kennedy.

Unit 5, 27-32 White Hart Street, Wycombe


EGi Availability – as at 25/08/11. Non-prime town centre retail. To let – Duncan Bailey Kennedy.

78 High Street Princes Risborough

35 sq m Rental indication approx. £271/sq m overall.

EGi Availability – as at 05/08/11. To let – James A Baker

55 West Street, Marlow

65 sq m Rental indication approx. £384/sq m overall.

EGi Availability – as at 06/07/11. To let – Deriaz Slater Commercial.



EGi Availability – as at 06/07/11. To let – Deriaz Slater Commercial. Restaurant/cafe.

Acorn House, 3-4 Straight Bit, Flackwell Heath


EGi Availability – as at 16/06/10. (Shop unit within local parade). To let – Aitchison Raffety.

102 Easton Street, Wycombe


EGi Availability – as at 16/06/11. Non-prime town centre retail. To let – Aitchison Raffety.

4-5 Castle Street, Wycombe


EGi Availability – as at 16/06/11. Non-prime town centre retail. To let – Stupples.




13 High Street, Wycombe


EGi Availability – as at 16/06/11. Non-prime town centre retail/restaurant/cafe. To let – Stupples.

12-13 Pauls Row, Wycombe


EGi Availability – as at 16/06/11. Non-prime town centre retail/restaurant/cafe. To let – Duncan Bailey Kennedy.

13 Littleworth Road, Downley


EGi Availability – as at 14/06/11. Shop within local parade. To let – Duncan Bailey Kennedy.

Gayhurst Road, Wycombe

145 sq m Rental indication £103/sq m.

EGi Availability – as at 07/06/11. To let – Deriaz Slater. Parade shop unit beneath flats block. Existing D2 consent – former gym use.

6 Oxford Street, Wycombe

259 sq m Rental indication approx. £212/sq m

EGi Availability – as at 01/06/11. Non-prime town centre retail/restaurant/cafe. To let – Stupples.

7 Crendon Street, Wycombe


EGi Availability – as at 18/05/11. Non-prime town centre retail. To let - Duncan Bailey Kennedy.

52 West Street Marlow

205 sq m Rental indication £293/sq m (or freehold quoted at £895,000 indicating £4369/sq m)

(Suggests yield indication circa 6.7% but unconfirmed).

EGi Availability – as at 28/04/11. Restaurant/bar premises - Duncan Bailey Kennedy.






EGi Availability – as at 08/04/11. Non-prime town centre retail. To let - Duncan Bailey Kennedy.


214 -534 sq m

Quoting £50,000 p.a. (indicates £234/sq m based on smaller floor area)

EGi Availability – as at 07/04/11. Non-prime town centre retail/restaurant/cafe. To let – Tudor Property.

1 Swains Market, Flackwell Heath


EGi Availability – as at 01/12/10. (Smaller settlement centre). To let – Stupples.

Pauls Row, High Wycombe

58 sq m. (Restaurant / cafe premises)

Rental indication approx. £172/sq m overall

EGi Availability – as at 01/12/10. (Close town centre). To let – Stupples.

3 Easton Street, Wycombe


EGi Availability – as at 16/06/11. Non-prime town centre retail. To let – Stupples

91 High Street Prestwood

380 sq m. Detached house incorporating retail unit 35 sq m.

Offers sought for freehold in order of £350,000. (Analysis uncertain)

Wycombe DC Land & Property web pages Sept 2011. Agents DBK.

Co-Op Unit, Park Parade Centre, Hazlemere, HP15 7AA

1176 sq m over ground and first floors.

£112.50 VOA Rating list 01/04/10 – current rateable value (RV) £144,000.

OFFICES - Examples Queenhithe House, Kings Square, Wycombe Marsh

88 sq m Quoting rents at approx £10/sq ft (£108/sq m)





Unit 6 Barnes Wallis Court, Wellington Road, Cressex Estate, Wycombe



The weighbridge, Brewery Courtyard, High Street, Marlow



Westfields, London Road, Wycombe

101 sq m Quoting rents from approx £54/sq m (£5/sq ft)


Hampden Court, London Road, Loudwater, Wycombe


EGi Availability – as at 02/09/11. To let – Capita Symonds

Bourne End Business Park, Bourne End

85 sq m Quoting £17,000 p.a. – indicates circa £18.50/sq ft (£200/sq m)

EGi Availability – as at 01/09/11. To let – Deriaz Slater Commercial

Buckingham Court, London Road, Loudwater, Wycombe

Quoting £15 - 23/sq ft (£161 - £248/sq m)

EGi Availability – as at 01/09/11. To let – Capita Symonds

Soho Mills / Studios, Bourne End

Quoting £10/sq ft (£108/sq m)


Knaves Beech Business Centre, Loudwater, Wycombe

434 sq m Quoting approx £54/sq m


The Long Barn, Unit T, Rose Business Estate, Marlow Bottom



65 High Street Marlow

87 sq m Quoting approx £195/sq m





The Old Courthouse, Hugheneden Road, High Wycombe



Rye Park House, London Road, Wycombe

181 – 818 sq m

Quoting rent from £5.95/sq ft (£64/sq m)


Old Bank House, High Street, Wycombe

42 – 683 sq m Quoting rent £12/sq ft (£129/sq m)


Part of Geodis Building, Coronation Road, Wycombe



Lancaster House, Lancaster Road, Cressex Business Park, Wycombe (Industrial estate style build and location)



2 Market Square, Marlow




139 – 204 sq m



Forty Green Courtyard, Forty Green Farm, Bledlow

41 – 254 sq m Quoting rent £10/sq ft (£108/sq m)


Morris Place, Spittal Street, Marlow

65 sq m Quoting £130/ sq m


19a West Street, Marlow


EGi Availability – as at 16/06/11. To let – Cluttons




Marlow Business Centre, Station Road, Marlow

Quoting £187.50 - £237.50 basis uncertain but assumed/ sq m.

EGi Availability – as at 16/06/11. To let – not through local agents.

Harleyford Manor, Harleyford, Wycombe

98 – 1255 sq m


EGi Availability – as at 16/06/11. To let – Jones Lang LaSalle

Apollo House, Mercury Park, Wycombe Lane

228 – 466 sq m


EGi Availability – as at 16/06/11. To let – Lambert Smith Hampton

10 Dashwood Avenue, Wycombe



Thame House, Castle Street, Wycombe

46 – 247 sq m Quoting £13/sq ft (£140/sq m)


Riley House, Riley Road, Marlow



Lancaster House – as above (Aidelle House, Lancaster Road)

485 sq m Quoting £8.50 & £9/sq ft (£91 - 97/sq m)


46-48 The Green, Wooburn Green


EGi Availability – as at 13/06/11. To let – Lambert Smith Hampton

Knaves Beech Way, Wycombe

97 to 576 sq m Quoting £10/sq ft i.e. £108/sq m


Atlas House, Third Avenue, Marlow (Globe Business Park)


EGi Availability – as at 01/04/11. To let – Knight Frank

St John’s Court, Easton Street, Wycombe

186 – 2044 sq m

Quoting £16.50/sq ft (£178/sq m) following refurbishment.

EGi Availability – as at 29/03/11. To let – Duncan Bailey Kennedy. Entry also at 18/08/11.




Marlow International, Marlow

1181 – 2702 sq m


EGi Availability – as at 25/03/11. To let – Knight Frank

83 – 89 High Street, Marlow



4 Cliveden Office Village, Cressex Business Park, Wycombe


EGi Availability – as at 08/03/11. To let – Brasier Freeth

11 Eghams Court, Boston Drive, Bourne End

105 sq m Quoting £16,000 p.a. - indicates circa £14/sq ft (£152/sq m)


Forty Green Courtyard, Forty Green, Bledlow

57 – 139 sq m Quoting £16/sq ft (£172/sq m)


Buckingham Court, Kingsmead Business Park, London Road, Wycombe

194 sq m Quoting £15/sq ft i.e. £161/sq m


65 sq m Quoting £8,500 p.a. -indicates circa £12/sq ft (£131/sq m)


Western House, Mendy Street, Wycombe

54 sq m Quoting £14.50/ sq ft i.e. £156/sq m


Western House, Mendy Street, Wycombe



4th Floor, Apollo Centre, Debsorough Road, Wycombe



Anglo Office Park, Lincoln Road, Cressex Estate, Wycombe

164 – 318 sq m

Quoting £5/ sq ft i.e. £54/sq m





41 Baker Street, Wycombe

64 - 1074 sq m Quoting £13.50sq/ ft i.e. £145/sq m


Redvale House, New Road, Prices Risborough

99 – 348 sq m Offers invited from £10/sq ft (or freehold basis – no guide quoted)


SL7 2DX (Harleyford Estate, Marlow)

52 sq m Quoting £13,464 p.a. – indicates circa £24/sq ft (£259/sq m)


High Street, Marlow

Quoting equivalent to £35/sq ft (£384/sq m) for very small suites. Terms/basis unknown.


1 Buckingham Place, Bellfield Road, Wycombe

213 sq m Quoting £54/sq m rental; £325,000 freehold.

Figures suggest yield indication as low as circa 3% but details unconfirmed

EGi Availability – as at 26/05/11 - Duncan Bailey Kennedy

Oxford Road, Stokenchurch

Quoting £100-200 assumed to be per sq m

EGi Availability – as at 11/05/10. To let

Station Road, Marlow



Wellington Road, Wycombe



Desborough Street, Wycombe



Bellfield Road West, Wycombe



Crendon Street, Wycombe






Glory Park, Wycombe



Lincoln Road, Wycombe



Abbey Barn Road, Wycombe

Quoting £215/sq m inclusive

EGi Availability – as at 19/03/10

Wycombe 3, Boundary Road, Wycombe

1612 sq m Let at £107.64/sq m

EGi Office deals listing 18/11/10

St John’s Court, 86 Easton Street, Wycombe

2052 sq m Freehold £1.31m indicates £638/sq m freehold.


The Clockhouse, Frogmooor, Wycombe

900 sq m Freehold £930,000 indicates £1033/sq m freehold.


11-15 High Street Marlow

41 sq m Let at £122/sq m


Liston Exchange, Cromwell Gardens, Marlow

218 sq m Let at £199/ sq m


Paje House, 164 West Wycombe Road, Wycombe



27 Castle Street, Wycombe



Foundation House, Lower Church Street, Wycombe



Knaves Beech Business Centre, 5 Davies Way, Wycombe

4513 sq m Freehold at £12.5 m indicates £2769/sq m freehold.


Buckingham House, Desborough Road, Wycombe






Ditto 31 sq m Let at £215/sq m


Archway House, Bellfield Road, High Wycombe



Atlas House, Third Avenue, Globe Park, Marlow



Artisan, Hillbottom Road, Wycombe



Ditto 268 sq m Let at £178/sq m


The Courtyard, Furlong Road, Bourne End



Mere Park, James House, Dedmere Road, Marlow



Tudor House, 649 London Road, Wycombe



Mercury Park, Gemini 1, Wycombe Lane, Wycombe



Glory Park, Glory Mill Lane, Wycombe



Stokenchurch Business Park, Ibstone Road



Saunderton Estate, Wycombe Road, Wycombe

4767 sq m Freehold at £2.95m indicates £619/sq m freehold


Notes: Information from older Offices listings not included. The above not exhaustive.

VOA Rating categories for retail are Hypermarkets & superstores (over 2500 sq m); Large food stores (750-2500 sq m); retail warehouse & premises; shops & premises




HOTELS

Searched VOA Rating List web-site but summary valuations not available owing to commercial sensitivities – limited information to apply. Wider web research showed values to be highly variable dependent on type, location and likely letting income. In practice, much on viability will depend on specifics. Assumptions have been made – see report details.

CARE HOMES

From our research, so far as we could see there is no well established new build care homes market – no current examples. No readily available local information to inform values assumptions, which were considered following wider research and looking further afield. Searched VOA Rating List web-site but none found. Limited information to apply. Wider web research showed values to be highly variable dependent on type, location and other factors. Again, viability will in practice depend on specifics. Assumptions have been made – see report details.

MISCELLANEOUS / LAND (as advertised)

Abbey Barn Road, Wycombe. Development site with planning permission for a building of 258 sq m over 2 floors, with D1 use.

Quoting £50,000 for the site freehold

EGi Availability – as at 28/10/10 – Stupples. Potential for a crèche, for example.

Castlefield House Clinic, Chiltern Avenue, High Wycombe

182 sq m on site of 0.321 acre.

Quoting £225,000 freehold. (Equates to circa £700,000/acre or £1.729m/Ha on that basis).

Wycombe DC Land & Property web resource Sept 2011. D1 Use (former clinic) but also now with B1 consent. DBK are agents.




Hughenden Quarters, Hughenden Avenue, High Wycombe, HP13 5XX

1 acre (northside); 4 acres (middle); 2 acres (southside)

No guide prices

Wycombe DC Land & Property web resource Sept 2011. Martin Somers Deriaz Slater Commercial Marlow 01628 495500 Or Clive Haines High Wycombe 01494 557337 [email protected]

30 Oxford Road, High Wycombe

298 sq m retail plus 5 flats over

Retail let at £50,000 p.a. plus flats at £33,000 p.a. totalling £88,000 p.a. Freehold offered at £1m on this investment basis.

(Suggests circa 8.8% yield, but unconfirmed)

Wycombe DC Land & Property web resource Sept 2011. Agents Deriaz Slater.

Trades & Social Club, Queens Road, High Wycombe

867 sq m building with car parking area.

Available freehold, quoting £500,000 – to suit D1/D2 uses but also formerly had consent for 11 no. 2 bed flats plus replacement club.

Wycombe DC Land & Property web resource Sept 2011. Agents DBK.

Institute Road, Marlow

279 sq m new D1 Use premises.

Freehold under offer – no quoted price.

Wycombe DC Land & Property web resource Sept 2011. Agents Deriaz Slater.




Chinnor Road, Bledlow Ridge, HP15 5HA

759 sq m industrial unit on 0.45 acre site

Offered freehold, with no quoted price guide.

Wycombe DC Land & Property web resource Sept 2011. Agents DBK.

Land off A40, Wycombe Road, Stokenchurch

Total about 68 acres or in various ‘lot’ sizes 3 – 4 acres. Arable farmland for sale with “paddock or investment potential”.

Quoting circa £8,000/acre (about £20,000/Ha)

Vantage Land web advert. www.vantageland.co.uk

Mudds Bank, Water End, Stokenchurch

Similar lots to above

Ditto Vantage Land

London Road, High Wycombe

Commercial property for sale on 0.384 Ha site.

No quoted price.

Agents R Whitley & Co

West Wycombe Road, High Wycombe

Car sales showroom and motor workshop to rear.

Offered for sale with asking price £300,000.

Agents Thompson Wilson

High Wycombe Office premises with detailed planning permission for residential

Offered for sale with asking price £250,000

Suggests for 3 townhouses. Advertised on UK Land Directory Ltd.

Stockenchurch (Marlow LCA)

Building plot for sale with planning for 4 bed house -

£249,950




Examples of other information sources

Other land value indications where available

DVS (Delivery and Site allocations DPD) June 2010 Viability Assessment:

Greenfield land for residential: £250,000 - £300,000/acre

Employment sites: £300,000 - £400,000/acre

Unserviced sites: £500,000 - £600,000/acre

VOA Property Market Reporting – none relating to High Wycombe – South East Figures

Industrial land

From £/Ha To £/Ha Typical £/Ha

July 09 250,000 2,475,000 1,256,000

Jan 10 Single figure quoted 1,312,500

Jan 11 Report stated ‘awaiting details’

South East ‘Residential land’ indicated at £2.46m/Ha Jan 2010; ‘awaiting details’ 2011.

DSP has considered a range of land values.




Economic context

Bank of England

Current official Bank Rate (Base Rate) remained at 0.5% - since be reduced to that level in

March 2009.

Agents’ summary of Business Conditions August 2011 (extracts re economic back-drop):

Growth rate of nominal spending on consumer goods and services remained weak

Activity in the housing market continued to be subdued, and was thought to have fallen

further in some areas

.....A number of reports of an increased in caution among prospective buyers, and of a

rise in the number of mortgages being withdrawn at a late stage in the transaction

process. According to contacts this had led to more frequent instances of housing chains

having broken down.

First time buyers continued to find it difficult to secure funding.

But weak demand from would-be owner occupiers had supported rents in the lettings

market, which continued to attract buy-to-let investors.

.....the anticipated rate of employment growth (in manufacturing) appeared to have levelled off in recent months, as expectations about the durability of the recovery, especially in the domestic market, had been revised down a little. In business services, intentions pointed to a continued gradual increase in headcount, although at a pace that was well below pre-recession levels, held back in part by expectations of ongoing weakness in public sector activity. The Agents’ score for employment intentions in the consumer-facing sector had been falling for several months, and suggested that there would be little or no growth in jobs over the next year.

Construction output appeared to be rising gradually, supported by some sizeable

infrastructure and energy related projects, along with several large commercial

developments in London, and activity related to the Olympics. There had also been some

increase in residential construction, although there were signs of a loss of momentum,

reflecting softening conditions in the housing market. Large firms with agreements with

the public sector had seen activity hold up slightly better than expected. But there had

been a marked fall in new orders from the public sector, and that was beginning to be

felt. As big contracts became scarcer, smaller companies were experiencing increased

competition from large firms for work on small-scale extension and maintenance

projects.




Credit conditions - Large firms reported that they were able to access bank finance at

reasonable terms. And contacts had perceived an intensification of competition among

banks for the business of the most creditworthy borrowers. Credit conditions were also

improving for some medium-sized companies with strong balance sheets, particularly if

they were content to use asset-backed forms of finance. But small companies, with weak

cash flow or relatively little collateral, still found borrowing terms prohibitive. There had

recently been some signs of an easing in credit conditions due to the return of venture

capital funds and non-bank providers of asset-backed finance. But some contacts

reported that trade credit had become more difficult to obtain, particularly for suppliers

to the retail and construction sectors.




Housing Market context

Royal Institution of Chartered Surveyors (RICS) Housing Market Survey (extracts) July 2011:

‘Prices continue to fall on balance, with more surveyors reporting declines rather than

increases.’

‘Activity levels remain pretty flat (and depressed), with new buyer enquiries and new vendor

instructions not recording much movement.’

Whilst there were no surveyor feedback comments for Wycombe District locations, there were

a number from the wider Buckinghamshire area; examples as follows:

‘Price absolutely key to achieving a sale. Anything overpriced not selling. Good levels of viewing

but viewing to sales ratio very high – indicative of cautious buyers and overpriced stock.’

‘Lower value well priced stock is still receiving good interest. There is some indication that

vendors understand the market is finely balanced currently.’

‘If property is priced sensibly there is still strong interest. Those vendors who are not realistic will

receive little interest in this market place.’

Land Registry House Price Index July 2011 (released 26 August 2011)

‘The July data reveals a slight change in the prevailing downward trend.’

‘Whilst the annual rate of change remains negative at -2.1%, the rate of monthly price change is

1.3%.....this is the largest monthly change since January 2010.’

‘The number of property transactions has decreased over the last year. In February to May 2010

there was an average of 49,600 sales per month. In the same months this year, the figure was

45,489.’

Summary of England and Wales picture:

Annual change in ave. house prices -2.1% (minus 2.1%)

Monthly change in ave. house prices 1.3% (positive)

Average price £163,049




Summary of South East picture:




Summary of Buckinghamshire picture:




CLG House Price Index August 2011 (released 11 October 2011)

‘In August UK house prices decreased by 1.3% over the year and increased by 0.6% over the

month...’

‘Average house prices remain unchanged over the quarter to August, compared to a quarterly

decrease of 0.2% from the quarter to May.’

‘Prices paid by first time buyers were 1.8% lower on average than a year earlier and prices paid

by former owner occupiers also decreased by 1.1%.’

‘Prices for new properties were 9.2% higher on average than a year earlier whilst prices for pre-

owned properties decreased by 2%.’

Update at closing study period:

Land Registry House Price Index September 2011 (released 28th October 2011)

‘September house prices down 2.6 per cent since August: average house price in England and

Wales now £162,019




The September data from Land Registry's flagship House Price Index shows an annual price

decrease of 2.6 per cent (change of minus 2.6%) which takes the average property value in

England and Wales to £162,109. The monthly change from August to September is a decrease of

0.3 per cent and continues the negative monthly price change seen in August of -0.1 per cent.

The only region in England and Wales to experience an increase in its average property value

over the last 12 months is London with a movement of 2.7 per cent. The North West experienced

the greatest monthly rise with a movement of 1.0 per cent. The North East experienced the

greatest annual price fall with a decrease of 8.2 per cent and the most significant monthly price

fall with a movement of -3.9 per cent.

The most up-to-date figures available show that during July 2011, the number of completed

house sales in England and Wales decreased by 11 per cent to 59,919 from 67,475 in July 2010.

The number of properties sold in England and Wales for over £1 million in July 2011 decreased

by 24 per cent to 707 from 932 in July 2010.’

Summary of England and Wales picture:


Monthly change in ave. house prices -0.3% (minus 0.3%)


Summary of South East picture:


Monthly change in ave. house prices 0.0% (no change over the month)


Summary of Buckinghamshire picture:







This latest trend indicates Buckinghamshire price trends marginally more positive than both the

South East and England & Wales pictures. Following the significant market movements (peak to

early/mid 2008 followed by steep falls to the trough in early/mid 2009) of the preceding period,

overall, house prices are indicated to have been relatively flat over the last year or so – with

relatively small scale house price movements, as the following Land Registry index trend graphs

show:

Source: Land Registry - House Prices Index (custom reports) –

http://www.landreg.gov.uk/house-prices/house-price-index-custom-reports




Land Registry - House Prices Index (custom reports) –

http://www.landreg.gov.uk/house-prices/house-price-index-custom-reports




Land Registry House Price Index report - Buckinghamshire Council vs South East Region

(January 2006 - September 2011)

(Source: http://www.landreg.gov.uk/house-prices/house-price-index-custom-reports)

Month

Buckinghamshire Council South East Region

Index Average Price (£)

Index Average Price (£)

January 2006 266.6 232,791 273.2 196,286

February 2006 268.8 234,698 275.1 197,642

March 2006 270 235,760 275.5 197,949

April 2006 271.5 237,090 276.7 198,804

May 2006 272 237,498 278.3 199,910

June 2006 272.5 237,976 279.7 200,965

July 2006 274.6 239,823 281.4 202,145

August 2006 276.6 241,514 282.8 203,181

September 2006 278.5 243,184 285.4 205,014

October 2006 280.4 244,809 286.8 206,042

November 2006 282.9 246,992 290.1 208,399

December 2006 285.2 249,036 292.8 210,337

January 2007 289.1 252,435 296.5 212,988

February 2007 292.8 255,642 299.8 215,412

March 2007 296.2 258,628 299.4 215,099

April 2007 299.6 261,631 302.9 217,612

May 2007 301.2 263,000 305.5 219,476

June 2007 303.9 265,401 306.8 220,434




July 2007 305.6 266,893 310.8 223,302

August 2007 308.5 269,395 314.1 225,634

September 2007 310.1 270,770 313.7 225,344

October 2007 309.6 270,315 315.6 226,719

November 2007 311.1 271,660 316 227,047

December 2007 311.5 272,012 315.5 226,669

January 2008 312.5 272,911 317.9 228,405

February 2008 316 275,924 316 227,017

March 2008 317.8 277,473 313.4 225,148

April 2008 (PEAK) 318.5 278,078 311.4 223,724

May 2008 317.3 277,071 310.4 222,978

June 2008 313.7 273,944 305.6 219,581

July 2008 310 270,671 303 217,679

August 2008 303.6 265,095 294.7 211,753

September 2008 298.9 261,013 287.7 206,701

October 2008 293.3 256,156 282 202,579

November 2008 287.9 251,399 273.8 196,684

December 2008 283.4 247,431 268.6 192,938

January 2009 277.8 242,546 266.8 191,663

February 2009 270.9 236,567 263.7 189,424

March 2009 265.8 232,082 258.9 185,999

April 2009 261.1 228,034 259.7 186,593

May 2009 (TROUGH) 260.6 227,552 261.8 188,105




June 2009 264.8 231,214 264.6 190,063

July 2009 267.1 233,230 268.6 192,956

August 2009 270.3 236,011 271.5 195,070

September 2009 272.1 237,571 275.8 198,123

October 2009 274.9 240,072 279.3 200,635

November 2009 278.4 243,061 281.6 202,283

December 2009 280.1 244,624 282.3 202,814

January 2010 284 248,025 289.3 207,836

February 2010 285.5 249,345 290.5 208,731

March 2010 287.4 250,980 288.8 207,457

April 2010 291 254,101 288.4 207,186

May 2010 290.5 253,708 294 211,229

June 2010 291.8 254,831 291.5 209,418

July 2010 295.8 258,319 294.4 211,482

August 2010 296.4 258,799 295.1 212,030

September 2010 296.8 259,205 294.8 211,787

October 2010 297.4 259,727 292.1 209,870

November 2010 294.6 257,209 289.9 208,252

December 2010 294.3 256,966 288.3 207,093

January 2011 293.6 256,338 288.2 207,045

February 2011 293.2 256,005 288.1 206,953

March 2011 293 255,884 287.5 206,582

April 2011 293.5 256,287 287.3 206,393




May 2011 292.6 255,539 286.1 205,545

June 2011 291.4 254,462 288 206,936

July 2011 294.2 256,875 290.3 208,585

August 2011 293.1 255,973 288.5 207,245

September 2011 294.7 257,380 288.5 207,244

(Source of above; Land Registry – http://www.landreg.gov.uk/house-prices/house-price-index-custom-reports - highlighting

emphasis by DSP)

Quick analysis of these Land Registry House Price Index trends:

Latest available information suggests –

- values at their peak (approx April 2008) were about 8% higher than current levels

- values fell by about 18% from peak to trough

- values have increased by about 12% from their trough (May 2009) levels

- values now are at very similar levels to those seen at the end of 2006, Autumn 2008 and one

year ago

- again, little overall change in values over the last year

RICS Commercial Property Market Survey – Quarter 3 2011

This was released under the headline ‘Tentative recovery in real estate shows signs of

faltering’.

The survey report goes on to say that:

- ‘Occupier demand falls back for the first since Q3 2010’

- ‘London rental expectations ease (reduce), though offices remain more resilient’

- ‘Capital value expectations outside the capital turn more negative as investment demand dries

up’

‘The latest RICS UK Commercial Market Survey shows that tenant demand retreated over the quarter

which, coupled with rising available space, is resulting in a more negative view on rental

expectations. Surveyors attribute the fall in sentiment to the uncertain outlook for the wider

economy.

At the all property level, respondents turned downbeat across much of the UK, though the picture in

London and the South remains broadly flat.




There are also some tentative signs that the London market, which has largely bucked the national

trend up to now, is beginning to see sentiment ease; rents are expected to fall in the capital for the

first time in a year. Meanwhile, outside of London rental expectations turned even more negative.

Significantly, sentiment has fallen across all sectors of the market. Retail demand slipped furthest

into negative territory, while available space also rose fastest in the retail sector.

However, rental expectations at the national level were most negative for offices.

Development starts declined across all sectors, while investment demand remained largely

unchanged from last quarter.

Capital value expectations fell across all sectors outside of London, most noticeably for offices.’

(Source: RICS UK Commercial Market Survey Q3 2011)

Included within a wide range of information supplied to us by the Council, we also considered the

Strategic Marketability Assessment of employment sites within Wycombe District (Lambert Smith

Hampton March 2010), which provides local area context on the commercial market. We do not

repeat the detail within that here, however one of its summary points was that: ‘Little commercial

development is expected in the short term due to the current lack of development funding as a result

of the “credit crunch”.’ The “credit crunch” theme is expanded in that report.

Additional background resources on the commercial market locally include:

- Wycombe DC’s 2010 Employment Land Review

- http://www.investinbucks.co.uk/property-search

- http://propertysearch.evolutive.co.uk/cgi-

bin/db2www.exe/Wycombe_Prop_Search.d2w/input?userid=3553 (Wycombe District Property

Search – note overlap with ‘invest in Bucks’ listings)




Notes to Appendix III

This is not intended to be and must not be interpreted as definitive or formal valuation

exercise.

The research carried out has not been exhaustive. It has focused on information readily

available from the District Council and a range of other sources as noted in this

Appendix, as is appropriate to informing a range of assumptions and judgments in

keeping with the high level nature of this viability overview.

In practice, assumptions and appraisal inputs, as well as outcomes, will vary beyond the

ranges explored here. In our opinion the most relevant range of guides and

assumptions, bearing in mind the study purpose, have been used. These have enabled

us to consider the points at which likely scheme viability would support CIL

contributions of certain levels – to consider the potential “switch points” and

assumptions combinations that could mean schemes moving in to viable or non-viable

territory.

As it does with other areas of policy and delivery, the Council will be able to keep an eye

on market trends and consider keeping under review the type of information contained

within this study Appendix – to help inform its ongoing monitoring and any potential

future review in light of market and cost movements, any changes in infrastructure

requirements and regulations; and local delivery experiences.

per sq m (/sq m) = per square metre (may also be seen as m²). Rental rates / price

indications and floor areas given in sq m are normally rounded to the nearest (whole) sq

using conventional rounding.

per sq ft (/sq ft) = per square foot (may also be seen as ft²).

1 sq m = 10.764 sq ft

1 Hectare (Ha/ha) = 2.47 acres

In this Appendix the text sections in italics are quoted from the sources listed; non-italic

sections within or adjacent to those are comments or clarifications added by DSP.

Extracts from the EGi Wycombe Town Report follow.

EGi Extract Follows:

Area: Wycombe (2010 Districts and Council Areas)

Map of Area

Area: Wycombe (2010 Districts and Council Areas)Base: Great Britain

Detached

(Area)

Detached

(England

& Wales)

Semi

Detached

(Area)

Semi Detached (England & Wales)

Terraced (Area)

Terraced (England & Wales)

Flat/Maisonette (Area)

Flat/Maisonette (England & Wales)

Q102 £322,105 £196,044 £196,104 £118,512 £174,357 £103,613 £133,469 £93,150

Q202 £311,940 £205,705 £209,765 £128,151 £182,181 £112,439 £125,615 £99,836

Q302 £370,337 £223,059 £216,020 £139,248 £191,422 £122,311 £144,285 £105,226

Q402 £390,210 £233,596 £223,555 £143,911 £201,276 £123,523 £142,059 £108,325

Q103 £403,146 £238,212 £220,615 £144,905 £205,478 £128,323 £140,761 £112,572

Q203 £402,269 £245,157 £236,159 £150,946 £190,099 £134,896 £144,308 £115,133

Q303 £424,898 £254,895 £234,588 £160,183 £182,850 £139,446 £143,359 £117,104

Q403 £392,086 £259,345 £252,146 £162,054 £192,678 £143,999 £173,368 £122,732

Q104 £386,119 £264,315 £251,838 £165,144 £215,063 £145,877 £164,687 £127,132

Q204 £426,671 £271,079 £239,436 £177,211 £196,919 £154,906 £167,176 £133,433

Q304 £422,542 £287,458 £260,218 £187,136 £234,514 £164,738 £177,072 £139,440

Q404 £423,786 £290,669 £255,556 £188,561 £222,691 £162,640 £166,265 £140,371

Q105 £398,942 £293,287 £244,770 £185,121 £206,300 £162,103 £164,814 £142,110

Q205 £401,869 £293,444 £262,311 £185,914 £208,815 £164,041 £164,591 £142,433

Q305 £440,189 £302,735 £268,356 £194,731 £216,494 £169,897 £172,158 £145,010

Q405 £424,641 £298,099 £274,605 £193,378 £218,829 £170,138 £160,281 £145,021

Q106 £433,250 £300,219 £266,480 £193,745 £216,926 £172,820 £170,174 £146,870

Q206 £492,496 £306,661 £269,163 £200,709 £221,246 £178,961 £161,549 £151,702

Q306 £464,798 £319,137 £274,637 £209,747 £255,099 £186,872 £188,663 £154,479

Q406 £519,745 £320,476 £279,824 £210,616 £274,446 £186,563 £186,989 £155,059

Q107 £482,583 £326,363 £303,270 £211,759 £245,638 £190,281 £177,552 £160,140

Q207 £497,428 £335,484 £313,389 £219,550 £252,545 £198,421 £183,646 £164,999

Q307 £516,336 £348,092 £307,926 £230,083 £275,273 £205,580 £206,500 £168,438

Q407 £519,807 £351,058 £352,316 £225,482 £267,861 £203,822 £212,233 £170,270

Q108 £512,857 £347,179 £303,593 £220,939 £259,968 £200,213 £180,552 £168,706

Q208 £524,541 £340,709 £311,141 £219,663 £253,471 £198,402 £195,280 £170,021

Q308 £545,841 £343,333 £297,134 £218,174 £280,939 £193,256 £185,504 £167,368

Q408 £472,151 £320,534 £278,195 £198,363 £268,828 £177,211 £176,139 £160,545

Q109 £474,101 £304,328 £271,665 £187,464 £215,278 £168,188 £197,748 £155,790

Q209 £465,426 £294,403 £265,117 £190,931 £226,593 £172,387 £183,895 £154,797

Q309 £494,560 £311,996 £293,445 £203,058 £270,354 £184,237 £186,490 £157,786

Q409 £502,984 £316,271 £289,008 £207,763 £254,749 £187,433 £224,167 £161,832

Q110 £467,111 £333,730 £302,628 £212,908 £241,152 £194,672 £190,650 £163,614

Q210 £526,021 £328,031 £299,822 £214,459 £254,708 £193,673 £173,385 £167,544

Q310 £538,147 £343,793 £301,720 £223,007 £248,022 £198,991 £200,790 £166,974

Q410 £489,204 £336,692 £308,597 £215,288 £284,050 £194,266 £195,690 £165,119

Q111 £497,778 £337,241 £305,837 £212,139 £252,877 £191,405 £178,298 £166,616

(Not Available for Scotland)*Please note that if prices are shown as '£0' no data is available for the corresponding centre. Please also note that these quarters relate to financial quarters.

Residential Property Prices

£0

£100,000

£200,000

£300,000

£400,000

£500,000

£600,000 Q

102

Q20

2

Q30

2

Q40

2

Q10

3

Q20

3

Q30

3

Q40

3

Q10

4

Q20

4

Q30

4

Q40

4

Q10

5

Q20

5

Q30

5

Q40

5

Q10

6

Q20

6

Q30

6

Q40

6

Q10

7

Q20

7

Q30

7

Q40

7

Q10

8

Q20

8

Q30

8

Q40

8

Q10

9

Q20

9

Q30

9

Q40

9

Q11

0

Q21

0

Q31

0

Q41

0

Q11

1

Detached (Area) Semi Detached (Area) Semi Detached (England & Wales)

Terraced (Area) Terraced (England & Wales) Flat/Maisonette (Area)

Flat/Maisonette (England & Wales) Detached (England & Wales)


Colliers International has provided its estimated prime retail rents for key In Town locations throughout the UK.

Provided by Colliers International ©.

The Colliers International In Town retail rents database is based upon their opinion of the open market Zone A rent in more than 600 shopping locations in the UK.

The rental values relate to a hypothetical shop unit of optimum size and configuration in the prime pitch. The figures have been arrived at by adopting zone sizes standard for the location and are expressed at £ per sq ft per annum.

In the case of shopping centre locations where the rent payable is the greater of the base Rent (a percentage of of Full Rental Value (typically 80%)) or a percentage of turnover, the rental contained is Full Rental Value (i.e. grossed up Base Rent).

In assessing their opinion of the open market Zone A rent Colliers International only acknowledge the presence of shopping centres once completed and open to the public.

*Please note that if rent values are shown as '£0' no data is available for the corresponding years. Only the top ten centres whose rents are highest in 2010 are graphed.

Centre 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011High Wycombe £55 £60 £80 £80 £75 £65 £65 £65 £65 £70 £70 £70 £75 £75 £80 £85 £85 £85 £90 £90 £90 £130 £100 £100 £100Marlow £30 £45 £55 £50 £45 £40 £35 £35 £35 £35 £40 £45 £50 £55 £55 £60 £60 £70 £75 £80 £90 £100 £85 £90 £95

Retail Rents

Estimated Zone A Rents

Contact: Dr Richard Doidge, Director of Research Consultancy, Colliers International. Email: [email protected] Tel: 020 7344 6872

£0

£20

£40

£60

£80

£100

£120

£140

Zone

A R

ent (

£psf

)

Year - Figures published every June

Prime In Town Retail Rents High Wycombe

Marlow

Area: Wycombe (2010 Districts and Council Areas) © Retail Locations 2006

Base: Great Britain Contact Retail Locations

on 020 8559 1944

www.retaillocations.co.uk

Data for

area

Data as %

for area

Data for

base

Data as %

for base

Index

av=100

Type of Store

Accessories & Jewellery 12 3% 2,902 2% 141

Antiques & Art 3 1% 807 1% 127

Books Video & Music 4 1% 960 1% 142

Cards & Stationery 6 1% 1,809 1% 113

Cash & Carry 1 0% 438 0% 78

Clothing 80 20% 21,786 16% 125

CoffeeShops 11 3% 3,153 2% 119

Crafts Hobbies & Toys 7 2% 1,077 1% 222

Department Store and Variety Store 10 2% 4,874 4% 70

Drink & CTN 7 2% 2,855 2% 84

Electrical & Computer Goods 9 2% 3,216 2% 96

Estate Agents 12 3% 3,778 3% 108

13 3% 7,013 5% 63

Furniture 5 1% 1,225 1% 139

Hardware & DIY 20 5% 5,859 4% 117

Mobile Phones / Telecommunications 11 3% 3,440 2% 109

Pharmacy Health & Beauty 41 10% 13,664 10% 102

Restaurants Bars & Cafes 54 13% 18,711 14% 99

Services - Financial 34 8% 12,840 9% 90

Services - Motor 37 9% 13,457 10% 94

Sports 5 1% 1,748 1% 98

Supermarket 16 4% 9,314 7% 59

Travel agent 6 1% 2,989 2% 69

404 1 137915

Fast Food Take Away

A listing of the retailers in this catchment area, by type. Index figures over 100 suggest a greater than usual concentration of this type in this area.

Retail Profile

Area: Wycombe (2010 Districts and Council Areas) Wycombe (2010 Districts and Council Areas) © Retail Locations 2006

Base: Great Britain Contact Retail Locations

on 020 8559 1944

A listing of key UK retailers and their presence or requirements in this catchment area. www.retaillocations.co.uk

Retailer Count of branches in

this area

Requirements

3 Store 1 -

Argos 2 0

Boots 3 0

Burger King 0 9

Carphone Warehouse 3 2

Claire's 1 0

Clarks 2 3

Costa Coffee 5 4

Domino's 1 -

Dorothy Perkins 2 3

Game 1 0

Greggs 2 0

HMV 1 -

Halfords 2 0

Holland & Barrett 1 0

Iceland 1 0

KFC 2 1

Marks & Spencer 1 -

McDonald's 1 1

Monsoon Accessorize 3 0

New Look 1 3

Next 1 -

Phones 4 U 0 0

Pizza Express 2 0

Instore (Poundstretcher) 0 -

Primark 1 -

Sainsbury's 2 6

Starbucks 2 3

Subway 4 4

Superdrug 2 0

Tesco 6 3

Waterstone's 1 -

WH Smith 3 0

*Please note that if values are '-' then no requirement data is available

Key Retail Profile

Requirements relate to the centre name in Drivetime and Radius reports, however in Local Authority reports requirements are an accumulation of centres in the contour.


The 20 most recent deals for this area and sector are displayed below, click on the arrows on the date heading to show all the deals.

Date Postcode Address Type Lessee/ Purchaser

Total Space Price Rental PSM Yield (%)

31/08/2011 HP12 4HJ

Artisan, Hillbottom Road, High Wycombe, Buckinghamshire, HP12 4HJ

Lease Lessee: Maritz Research Limited

1393.53 Net sq m N/A N/A N/A

21/05/2011 SL7 1AB

65 High Street, Marlow, Buckinghamshire, SL7 1AB

Lease Lessee: Private individual(s)


15/04/2011 SL7 2LU

11 West Street, Marlow, Buckinghamshire, SL7 2LU



15/04/2011 HP13 6EQ

Valley Business Centre, Gordon Road, High Wycombe, Buckinghamshire, HP13 6EQ



15/04/2011 SL8 5TD

Temple House, Regatta Place, Marlow Road, Bourne End, Buckinghamshire, SL8 5TD



01/04/2011 SL8 5YS

Eghams Court, Boston Drive, Bourne End, Buckinghamshire, SL8 5YS



22/11/2010 HP27 9PX

Regent Park, Princes Estate, Summerleys Road, Princes Risborough, Buckinghamshire, HP27 9PX

Lease Lessee: Cat-UK Services Limited


18/11/2010 HP10 9PN

Wycombe 3, Boundary Road, High Wycombe, Buckinghamshire, HP10 9PN

Lease Lessee: Phoenix IT Group

1612.04 Net sq m N/A £107.64 N/A

28/10/2010 HP13 6NR

9 Amersham Hill, High Wycombe, Buckinghamshire, HP13 6NR

Lease Lessee: Carers UK Limited


27/09/2010 HP11 1JX

St Johns Court, 86 Easton Street, High Wycombe, Buckinghamshire, HP11 1JX

Sale Purchaser: IVG UK Limited

2052.03 Net sq m £1310000 N/A N/A

27/09/2010 HP13 6NR

9 Amersham Hill, High Wycombe, Buckinghamshire, HP13 6NR

Lease Lessee: Key Letts Limited


21/09/2010 HP13 5DL

The Clock House, Frogmoor, High Wycombe, Buckinghamshire, HP13 5DL

Sale Purchaser: Private individual(s)

899.758 Net sq m £930000 N/A N/A

03/09/2010 HP11 2HL

Swan House, 1 White Hart Street, High Wycombe, Buckinghamshire, HP11 2HL

Lease

Lessee: London College of Executives Limited


31/08/2010 HP14 3SX

Stokenchurch House, Oxford Road, High Wycombe, Buckinghamshire, HP14 3SX

Lease Lessee: Verathon Medical (UK) Limited


25/08/2010 HP11 2AE

27 High Street, High Wycombe, Buckinghamshire, HP11 2AE

Licence Lessee: Private individual(s)


Office Deals Listing

28/07/2010 SL7 1AU

11-15 High Street,

Marlow,

Buckinghamshire,

SL7 1AU

Lease

Lessee:

Marketing Analytix

Limited

40.877 Net sq

mN/A £122.28 N/A

28/07/2010 SL7 1BG

Liston Exchange,

Cromwell Gardens,

Marlow,

Buckinghamshire,

SL7 1BG

Lease

Lessee:

FoundOcean

Limited

218.32 Net sq

mN/A £199.13 N/A

01/07/2010 HP27 0AS

Friars Cottage,

Market Square,

Princes Risborough,

Buckinghamshire,

HP27 0AS

Lease Lessee: Private

Client

48.7737 Net

sq mN/A N/A N/A

01/07/2010 HP12 3AE

Paje House, 164

West Wycombe

Road, High

Wycombe,

Buckinghamshire,

HP12 3AE


Client

18.9521 Net

sq mN/A £204.52 N/A

30/06/2010 HP13 6RU

27 Castle Street,

High Wycombe,

Buckinghamshire,

HP13 6RU


Client48 Net sq m N/A £145.83 N/A

25/06/2010 HP14 3TG

Foundation House,

Lower Church Street,

High Wycombe,

Buckinghamshire,

HP14 3TG

Lease

Lessee: Positive

Steps Childrens

Day Nursery

Limited

106 Net sq m N/A £113.21 N/A

18/06/2010 HP10 9QR

Knaves Beech

Business Centre, 5

Davies Way, High

Wycombe,

Buckinghamshire,

HP10 9QR

Sale &

Leaseback

Lessee: Dreams,

Purchaser:

Clarenco LLP

4513.01 Net

sq m£12500000 N/A 7.3

01/06/2010 HP12 3BW

Fryers Works, The

Gatehouse,

Abercromby Avenue,

High Wycombe,

Buckinghamshire,

HP12 3BW


Clients

102.843 Net

sq mN/A N/A N/A

01/06/2010 HP11 2PR

Buckingham House,

Desborough Road,

High Wycombe,

Buckinghamshire,

HP11 2PR


Clients

95.039 Net sq

mN/A £167.92 N/A

01/06/2010 HP11 2PR

Buckingham House,

Desborough Road,

High Wycombe,

Buckinghamshire,

HP11 2PR


Client

31.2152 Net

sq mN/A £215.28 N/A

01/06/2010 HP13 5HJ

Archway House,

Bellfield Road, High

Wycombe,

Buckinghamshire,

HP13 5HJ


Client

114.27 Net sq

mN/A £131.32 N/A

01/06/2010 HP13 6LA

Prospect House,

Crendon Street, High

Wycombe,

Buckinghamshire,

HP13 6LA


Client

164.994 Net

sq mN/A N/A N/A

15/05/2010 SL7 1EY

Atlas House, Third

Avenue, Globe Park,

Marlow,

Buckinghamshire,

SL7 1EY

Lease

Lessee: Seagate

Software (UK)

Limited

659.606 Net

sq mN/A £200.53 N/A

01/05/2010 HP12 4HJ

Artisan, Hillbottom

Road, High

Wycombe,

Buckinghamshire,

HP12 4HJ

Lease Lessee: TTI,

Incorporated

566.054 Net

sq mN/A £125.08 N/A

01/05/2010 HP12 4HJ

Artisan, Hillbottom

Road, High

Wycombe,

Buckinghamshire,

HP12 4HJ

Lease N/A268.023 Net

sq mN/A £177.61 N/A

01/05/2010 HP11 1HA

Westfields, London

Road, High

Wycombe,

Buckinghamshire,

HP11 1HA


individual(s)

220.643 Net

sq mN/A N/A N/A

20/04/2010 HP10 9YU

14 Knaves Beech

Business Centre,

Davies Way, High

Wycombe,

Buckinghamshire,

HP10 9YU

Lease

Lessee: Sun Life

Unit Assurance

Limited

918.06 Net sq

mN/A N/A N/A

08/04/2010 HP10 9TJ

The Mill House,

London Road, High

Wycombe,

Buckinghamshire,

HP10 9TJ

Lease

Lessee:

Rodericks Dental

Foundation

184.039 Net

sq mN/A N/A N/A

06/04/2010 SL8 5AU

The Courtyard,

Furlong Road,

Bourne End,

Buckinghamshire,

SL8 5AU


Client

180.509 Net

sq mN/A £166.20 N/A

01/04/2010 SL7 2NB

48 West Street,

Marlow,

Buckinghamshire,

SL7 2NB


Client

325.158 Net

sq mN/A N/A N/A

01/04/2010 SL7 1DD

2A Chapel Street,

Marlow,

Buckinghamshire,

SL7 1DD


Client

91.0442 Net

sq mN/A N/A N/A

31/03/2010 SL7 1TJ

Chapel House, Liston

Road, Marlow,

Buckinghamshire,

SL7 1TJ

Lease Lessee: Waitrose1585.38 Net

sq mN/A N/A N/A

15/02/2010 SL7 1FJ

Mere Park, James

House, Dedmere

Road, Marlow,

Buckinghamshire,

SL7 1FJ


sq mN/A £107.64 N/A

15/02/2010 SL7 3SD

Chiltern House, Fern

Lane, Marlow,

Buckinghamshire,

SL7 3SD


sq mN/A N/A N/A

01/02/2010 HP11 2PE

Lordsmill, Oakridge

Road, High

Wycombe,

Buckinghamshire,

HP11 2PE


Clients

155.147 Net

sq mN/A N/A N/A

01/02/2010 SL8 5YP

Station Court, Station

Road, Bourne End,

Buckinghamshire,

SL8 5YP


individual(s)

94.7603 Net

sq mN/A N/A N/A

01/02/2010 HP11 1EZ

Tudor House, 649

London Road, High

Wycombe,

Buckinghamshire,

HP11 1EZ


Client

198.811 Net

sq mN/A £142.30 N/A

15/01/2010 SL7 2LY

Oak House, Potts

Place, West Street,

Marlow,

Buckinghamshire,

SL7 2LY

Sale

Purchaser:

Private

individual(s)

76.1799 Net

sq mN/A N/A N/A

15/01/2010 SL7 1NG

11-13 Station Road,

Marlow,

Buckinghamshire,

SL7 1NG


sq mN/A N/A N/A

07/01/2010 HP10 0HH

Mercury Park, Gemini

1, Wycombe Lane,

High Wycombe,

Buckinghamshire,

HP10 0HH


sq mN/A £269.10 N/A


Planning applications for this use type in this area. The most recent 20 are displayed, use the filter arrows to display more.

Address Status Application Date Permission Date Subsector Proposed Size Units Planning Authority

Wessex Road Industrial Estate, Wessex Road, Bourne End, Buckinghamshire, SL8 5DT

PPG 23/06/2011 03/08/2011 Industrial (B8), Business (B1a) 100 Gross sq m Wycombe District

Council

Hampden Saw Mills, Great Hampden, Great Missenden, Buckinghamshire, HP16 9RG

App 05/05/2011

Business (B1a), Business (B1c), Industrial (B8), Assembly & Leisure (D2)

215 Gross sq m Wycombe District Council

85-87 Holtspur Lane, High Wycombe, Buckinghamshire, HP10 0AU

App 08/03/2011 Business (B1a) 4725 Gross sq m Wycombe District Council

Knaves Beech Industrial Estate, Knaves Beech Way, High Wycombe, Buckinghamshire, HP10 9QY

PPG 10/01/2011 30/03/2011 Business (B1a), Industrial (B8) 93 Gross sq m Wycombe District

Council


PPG 10/01/2011 30/03/2011 Business (B1a), Industrial (B8) 93 Gross sq m Wycombe District

Council

Amersham And Wycombe College, Spring Lane, High Wycombe, Buckinghamshire, HP10 9HE

PPG 08/12/2010 02/02/2011 Non-resi Institutional (D1), Business (B1a) N/A N/A Wycombe District

Council

Park Mill Farm, Summerleys Road, Princes Risborough, Buckinghamshire, HP27 9QB

OutRef 07/10/2010

Residential (C3), Business (B1a), Retail (A1), Retail (A2), Retail (A3), Assembly & Leisure (D2), Assembly & Leisure (D2)


Land To The Rear Of The Hogs Head, 84 High Street, Marlow, Buckinghamshire, SL7 1AQ

PPG 06/08/2010 23/11/2010 Business (B1a) 750 Gross sq m Wycombe District Council

Land At Lance Way, Collingwood Close &, Clarke Drive, High Wycombe, Buckinghamshire, HP13 7ED

PPG 12/05/2010 11/08/2010 Residential (C3), Business (B1a), Retail (A1)


Globeside Business Park, One Globeside, Fieldhouse Lane, Marlow, Buckinghamshire, SL7 1HZ

OutPPG 30/03/2010 29/06/2010 Business (B1a) 6825 Gross sq m Wycombe District Council

Former Hypnos Site, Station Road, Princes Risborough, Buckinghamshire, HP27 9DN

Lap 12/02/2010 Residential (C3), Business (B1a), Retail (A1), General

N/A N/A Wycombe District Council

Land At Wycombe Sports Centre, Marlow Hill, High Wycombe, Buckinghamshire, HP11 1TJ

OutPPG 07/12/2009 27/05/2011 Hotels (C1), Business (B1a), Assembly & Leisure (D2)


Cressex Business Park, Halifax Road, High Wycombe, Buckinghamshire, HP12 3SD

App 20/11/2009 Industrial (B1/2/8), Business (B1a) 164 Gross sq m Wycombe District

Council

Regent Park, Summerleys Road, Princes Risborough, Buckinghamshire, HP27 9LE

App 01/10/2009 Business (B1a) 557 Gross sq m Wycombe District Council

Swan House, 1 White Hart Street, High Wycombe, Buckinghamshire, HP11 2HL

App 28/08/2009 Business (B1a), Non-resi Institutional (D1) N/A N/A Wycombe District

Council

Planning Applications - Office


Road, Marlow,

Buckinghamshire, SL7 1TJ

PPG 10/07/2009 12/03/2010 Retail (A1), Business

(B1a)736 Gross sq m

Wycombe District

Council


Road, Marlow,

Buckinghamshire, SL7 1TJ


(B1a)736 Gross sq m

Wycombe District

Council

17-25 Octagon Parade,

White Hart Street; 2-10

Octagon Court Bull Lane,

Oxford Street, High

Wycombe,

Buckinghamshire, HP11

2HU

App 26/06/2009 Hotels (C1), Retail

(A1), Business (B1a)N/A N/A

Wycombe District

Council

Land Adjacent To, 23

Easton Street, High

Wycombe,


1NT

With 12/02/2009 Residential (C3),

Business (B1a)596 Gross sq m

Wycombe District

Council

Former De La Rue Site,

Coates Lane, High

Wycombe,


5EY

PPG 27/01/2009 28/04/2009

Business (B1a),

Industrial (B8),

General

N/A N/AWycombe District

Council




Total Space Price (£) Zone A Rent Yield (%)

24/06/2011 HP14 3SX

29-31 Oxford Road, High Wycombe, Buckinghamshire, HP14 3SX

Investment Sale Purchaser: PZR 489.223 Net sq

m £1500000 N/A 6.93

02/06/2011 SL7 1AB57 High Street, Marlow, Buckinghamshire, SL7 1AB

Lease Lessee: Mint Velvet 82.683 Net sq m N/A N/A N/A

06/04/2011 HP11 2BW

4-5 Cornmarket, High Wycombe, Buckinghamshire, HP11 2BW

Lease Lessee: Money Shop (The) 159.42 Net sq m N/A £33000 N/A

01/04/2011 SL7 1AU31 High Street, Marlow, Buckinghamshire, SL7 1AU

Lease Lessee: Private individual(s) 128.67 Net sq m N/A £82500 N/A

21/12/2010 HP11 2QA

150 Desborough Road, High Wycombe, Buckinghamshire, HP11 2QA


52.6756 Net sq m N/A £13000 N/A

03/12/2010 HP13 6RG

Edric House, 30-48 Castle Street, High Wycombe, Buckinghamshire, HP13 6RG

Sale Purchaser: Imani Foods Limited

148.644 Net sq m £350000 N/A N/A

15/08/2010 HP15 7LQ

3 Market Parade, High Wycombe, Buckinghamshire, HP15 7LQ

Lease Lessee: Wye Residential LLP

83.4262 Net sq m N/A £17650 N/A

11/08/2010 HP15 7DD

42 Sawpit Hill, High Wycombe, Buckinghamshire, HP15 7DD


85.9346 Net sq m £308000 N/A N/A

01/05/2010 SL8 5SB67 The Parade, Bourne End, Buckinghamshire, SL8 5SB

Lease Lessee: Private Clients


01/05/2010 SL8 5SB

33-35 The Parade, Bourne End, Buckinghamshire, SL8 5SB

Lease Lessee: Budz Cafe Lounge Limited


15/04/2010 HP27 0AT

15 Duke Street, Princes Risborough, Buckinghamshire, HP27 0AT

Sale Purchaser: Private Clients

20.2527 Net sq m £185000 N/A N/A

31/03/2010 HP11 2AG

40 High Street, High Wycombe, Buckinghamshire, HP11 2AG

Lease N/A 740 Net sq m N/A N/A N/A

26/02/2010 HP11 2QL

205 Desborough Road, High Wycombe, Buckinghamshire, HP11 2QL

Lease N/A 150.223 Net sq m N/A £15000 N/A

25/02/2010 HP11 2TE

206 Desborough Road, High Wycombe, Buckinghamshire, HP11 2TE


61.4084 Net sq m N/A £14100 N/A

24/02/2010 SL7 1AW

30-32 High Street, Marlow, Buckinghamshire, SL7 1AW


185.805 Net sq m £1500000 N/A N/A

15/02/2010 SL8 5DG

12 Furlong Road, Bourne End, Buckinghamshire, SL8 5DG

Lease N/A 40.6912 Net sq m N/A N/A N/A

01/01/2010 HP11 2QA

154 Desborough Road, High Wycombe, Buckinghamshire, HP11 2QA

Lease Lessee: Private Clients

26.3842 Net sq m N/A £5000 N/A

Retail Deals Listing



Address Status Application Date Permission Date Subsector Proposed Size Units Planning Authority

Hollywell Mead, Bassetsbury Lane, High Wycombe, Buckinghamshire, HP11 1QX

App 27/07/2011

Retail (A3), Assembly & Leisure (D2), Assembly & Leisure (D2), Assembly & Leisure (D2)


Sands Industrial Estate, Hillbottom Road, High Wycombe, Buckinghamshire, HP12 4HJ

App 21/06/2011 Business (B1c), Retail (A1) N/A N/A Wycombe District

Council

14-22 West Street, Riley Road, Marlow, Buckinghamshire, SL7 2NE

PPG 12/04/2011 12/07/2011 Retail (A1) 1682 Gross sq m Wycombe District Council

198-200 Cressex Road, High Wycombe, Buckinghamshire, HP12 4UB


Shell Hazlemere, 334 Hazlemere Cross Roads, High Wycombe, Buckinghamshire, HP15 7LG

PPG 11/02/2011 15/03/2011 Sui Generis N/A N/A Wycombe District Council

William Bartlett & Son, Grafton Street, High Wycombe, Buckinghamshire, HP12 3AJ

PPG 06/12/2010 02/02/2011 Residential (C3), Business (B1c), Retail (A1)


Morrisons, Bellfield Road, High Wycombe, Buckinghamshire, HP13 5XX

With 05/11/2010

General, General, Industrial (B8), Residential Institutional (C2)



OutRef 07/10/2010




OutRef 07/10/2010




OutRef 07/10/2010




OutRef 07/10/2010



Land At Lance Way, Collingwood Close &, Clarke Drive, High Wycombe, Buckinghamshire, HP13 7ED

PPG 12/05/2010 11/08/2010 Residential (C3), Business (B1a), Retail (A1)


Tannery Road Industrial Estate, Tannery Road, High Wycombe, Buckinghamshire, HP13 7EQ

Ref 29/04/2010 Industrial (B2), Retail (A1) 1520 Gross sq m Wycombe District

Council

Former Hypnos Site, Station Road, Princes Risborough, Buckinghamshire, HP27 9DN

Lap 12/02/2010 Residential (C3), Business (B1a), Retail (A1), General


Avocet Trading Estate, West Richardson Street, High Wycombe, Buckinghamshire, HP11 2SB



App 12/10/2009 Retail (A1) 760 Gross sq m Wycombe District Council

Planning Applications - Retail

Chapel House, Liston Road,

Marlow, Buckinghamshire,

SL7 1TJ


(B1a)849 Gross sq m

Wycombe District

Council

Chapel House, Liston Road,

Marlow, Buckinghamshire,

SL7 1TJ


(B1a)849 Gross sq m

Wycombe District

Council

17-25 Octagon Parade,

White Hart Street; 2-10

Octagon Court Bull Lane,

Oxford Street, High

Wycombe,


2HU

App 26/06/2009 Hotels (C1), Retail

(A1), Business (B1a)N/A N/A

Wycombe District

Council

15 Queens Square, High

Wycombe,


2DF

PPG 12/03/2009 24/06/2009 Retail (A2) N/A N/AWycombe District

Council

Area: Wycombe (2010 Districts and Council Areas)Base: Great Britain 06/09/2011

Address Opening Date Total Size (sq m)

Opening Hours

Anchor Tenants Owner(s)

Wycombe Retail Park, Abbey Barn Lane, High Wycombe, Buckinghamshire, HP10 9QQ

31/08/2004 9940.54 N/A N/A Kennet Properties Limited

Knaves Beech Retail Park, Knaves Beech Way, High Wycombe, Buckinghamshire, HP10 9QY

01/05/2002 8173.73 N/A N/A UK Commercial Property Trust

The Chilterns Shopping Centre, Church Street, High Wycombe, Buckinghamshire, HP13 5ES

01/05/1987 9290.238:30am-17.30pm Mon to Sat

Primark,Wilkinson

Buckinghamshire Chiltern University College, GRANADA UK RENTAL AND RETAIL LIMITED, Royal London Mutual Insurance Society (The)

Eden, Oxford Road, Western Sector, High Wycombe, Buckinghamshire, HP11 2DQ

01/01/1969 81824.5

Mon-Fri 09:00-20:00, Sat 09:30-19:00, Sun 11:00-17:00

Bhs,House of Fraser,Marks & Spencer

Brookfield Europe, Reuben Brothers Foundation, Stannifer Developments Limited, Westfield Shoppingtowns Limited

Shopping Centre Details

Details from EGi's Shopping Centre Research. The Shopping Centre Research database contains information on purpose-built retail schemes - shopping centre, retail park, factory outlet, or shopping park. The database focuses on schemes of in excess of 50.




Total Space Price (£) Rental PSM Yield (%)

01/04/2011 HP12 3RB

Abbey House, Lincoln Road, High Wycombe, Buckinghamshire, HP12 3RB



01/04/2011 HP11 2LT

Riverside Business Centre, Victoria Street, High Wycombe, Buckinghamshire, HP11 2LT


111.483 Net sq m N/A £80.73 N/A

01/04/2011 SL8 5DT




14/10/2010 HP12 4BY

C&C Works, Chapel Lane, High Wycombe, Buckinghamshire, HP12 4BY

Lease Lessee: Translux Limited


04/10/2010 HP27 9PX


Lease Lessee: Molins plc

2701 Net sq m N/A £92.00 N/A

22/09/2010 HP12 3AJ

Maygilt House, 6 Grafton Street, High Wycombe, Buckinghamshire, HP12 3AJ

Lease Lessee: South Bucks NHS Trust

99.4983 Net sq m N/A £64.37 N/A

23/07/2010 HP27 9PX


Investment Sale

Lessee: Molins plc, Purchaser: Kingston Estates Limited

2701.04 Net sq m £2962500 N/A N/A

12/07/2010 HP14 4HW

Ministry Wharf, Wycombe Road, High Wycombe, Buckinghamshire, HP14 4HW

Lease Lessee: M S Precision Limited

115.942 Net sq m N/A £77.61 N/A

30/06/2010 HP12 3AB

161 West Wycombe Road, High Wycombe, Buckinghamshire, HP12 3AB


851.821 Net sq m £660000 N/A N/A

15/06/2010 HP12 4AZ

Thames Water, Mill End Road, High Wycombe, Buckinghamshire, HP12 4AZ

Sale Purchaser: Skillbond Limited

0.655578 Hectares N/A N/A N/A

28/02/2010 HP14 3JS

T & L Furniture Sawmills, 28 The Row, High Wycombe, Buckinghamshire, HP14 3JS

Licence N/A 66.3322 Net sq m N/A £60.28 N/A

28/02/2010 HP14 3JS

T & L Furniture Sawmills, 28 The Row, High Wycombe, Buckinghamshire, HP14 3JS

Licence Lessee: FOOD FOR THOUGHT LIMITED

297.287 Net sq m N/A £40.04 N/A

Industrial Deals Listing

28/02/2010 HP11 1LG

320 London Road,

High Wycombe,

Buckinghamshire,

HP11 1LG

Sale

Purchaser:

Private

individual(s)

510.962 Net

sq m£318000 N/A N/A

26/02/2010 HP27 9PX

Regent Park,

Princes Estate,

Summerleys Road,

Princes

Risborough,

Buckinghamshire,

HP27 9PX

Sale Purchaser: Fun

Collectables

221.479 Net

sq m£275000 N/A N/A

10/02/2010 HP10 0AU

85-87 Holtspur

Lane, High

Wycombe,

Buckinghamshire,

HP10 0AU

Lease

Lessee:

Tactical

Performance

Group

3679 Net sq

mN/A £32.00 N/A

30/01/2010 HP14 3JS

T & L Furniture

Sawmills, 28 The

Row, High

Wycombe,

Buckinghamshire,

HP14 3JS

Licence

Lessee:

Saphire

Wedding Cars

278.707 Net

sq mN/A £32.29 N/A

15/01/2010 HP12 3HZ

Wycombe Trade

Park, Lancaster

Road, High

Wycombe,

Buckinghamshire,

HP12 3HZ


sq mN/A N/A N/A

15/01/2010 HP12 3ES

Britannia Industrial

Park, Dashwood

Avenue, High

Wycombe,

Buckinghamshire,

HP12 3ES


sq mN/A N/A N/A

15/01/2010 HP11 2LT

Riverside Business

Centre, Victoria

Street, High

Wycombe,

Buckinghamshire,

HP11 2LT


sq mN/A N/A N/A

01/01/2010 HP14 3JS

T & L Furniture

Sawmills, 28 The

Row, High

Wycombe,

Buckinghamshire,

HP14 3JS


Clients

2508.36 Net

sq mN/A £6.78 N/A

01/01/2010 HP12 3RP

Ranton Site,

Coronation Road,

High Wycombe,

Buckinghamshire,

HP12 3RP

Lease

Lessee:

PRESTIGE

TOOLS

LIMITED

445.281 Net

sq mN/A £44.89 N/A

01/01/2010 HP12 3PS

Cressex Business

Park, Trenchard

House, Wellington

Road, High

Wycombe,

Buckinghamshire,

HP12 3PS

Sale

Purchaser:

Hazlemere

Estates

Management

Ltd

3344.48 Net

sq m£1150000 N/A N/A

01/01/2010 HP13 5RE

Manor Courtyard,

Hughenden

Avenue, High

Wycombe,

Buckinghamshire,

HP13 5RE


sq mN/A £10.76 N/A



Address Status Application Date Permission Date

Subsector Proposed Size Units Planning Authority


PPG 23/06/2011 03/08/2011 Industrial (B8), Business (B1a) 761 Gross sq m


Roundwood House, 134-136 Lane End Road, High Wycombe, Buckinghamshire, HP12 4HX

App 14/06/2011 Industrial (B8) 1293 Gross sq mWycombe District Council

Hampden Saw Mills, Great Hampden, Great Missenden, Buckinghamshire, HP16 9RG

App 05/05/2011

Business (B1a), Business (B1c), Industrial (B8), Assembly & Leisure (D2)

50 Gross sq mWycombe District Council

Spring Bank House, High Street, High Wycombe, Buckinghamshire, HP14 3JH

Ref 06/04/2011 Residential (C3), Industrial (B1/2/8)


Former Turner Groundscare, Chinnor Road, Princes Risborough, Buckinghamshire, HP27 9PH

PPG 31/03/2011 06/05/2011 Business (B1c), Industrial (B2) N/A N/A


Southside Farm, London Road, High Wycombe, Buckinghamshire, HP10 0NN

App 29/03/2011 Industrial (B2), Business (B1c), General

N/A N/AWycombe District Council


PPG 10/01/2011 30/03/2011 Business (B1a), Industrial (B8) 1560 Gross sq m



PPG 10/01/2011 30/03/2011 Business (B1a), Industrial (B8) 1560 Gross sq m



With 05/11/2010

General, General, Industrial (B8), Residential Institutional (C2)

N/A N/AWycombe District Council


App 29/10/2010

Residential (C3), Industrial (B8), Industrial (B2)



App 29/10/2010




App 29/10/2010




App 29/10/2010



Wycombe Marsh Southern Land, London Road, Genoa Way, High Wycombe, Buckinghamshire, HP11 1EZ

OutPPG 16/08/2010 25/07/2011

Residential (C3), Industrial (B1/2), Non-resi Institutional (D1)


Planning Applications - Industrial

Thames Water, Mill End

Road, High Wycombe,


4AZ

PPG 26/07/2010 05/01/2011 Industrial (B8) 776 Gross sq m

Wycombe

District

Council

Tannery Road Industrial

Estate, Tannery Road, High

Wycombe,


7EQ

Ref 29/04/2010 Industrial (B2),

Retail (A1)2649 Gross sq m

Wycombe

District

Council

Matrix House, Lincoln

Road, High Wycombe,


3RB

PPG 02/03/2010 26/04/2010 Industrial

(B1/2/8)780 Gross sq m

Wycombe

District

Council

Sands Industrial Estate,

Hillbottom Road, High

Wycombe,


4HJ

PPG 01/02/2010 11/03/2010

Industrial

(B1/2), Business

(B1c)

4 Units

Wycombe

District

Council

Cressex Business Park,

Halifax Road, High

Wycombe,


3SD

App 20/11/2009

Industrial

(B1/2/8),

Business (B1a)

870 Gross sq m

Wycombe

District

Council

Abbey House & Matrix

House, Lincoln Road, High

Wycombe,


3RB

OutPPG 25/06/2009 25/08/2009 Industrial

(B1/2/8)2379 Gross sq m

Wycombe

District

Council

Documents

CD383-CIL-Viability-Assessment.pdf - Buckinghamshire Council