Southwark Development Appraisal

BOROUGHDESIGN REPORT

UNIVERSITY OF WESTMINSTER | AURD717 DEVELOPMENT PROCESS | SIMONE GOBBER

BOROUGHINTRODUCTION TO THE SITEPLANNING FOR THE COMMUNITYEXPLOITABLE AREADEFINING THE SITEDESIGN PRINCIPLESMASSING AND SCALEPARAMETERSSPATIAL LAYOUTSUN AND SHADOWGROUND FLOOR PLANFUNCTIONSSECTIONSOPEN SPACESFUTURE ARMATURE

FINANCIAL APPRAISAL

SITE1SITE2SITE1 + SITE2DIFFERENT OPTIONS

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INDEXpage 2

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page 3

INTRODUCTION TO THE SITEpage 4

A city in transformation

As part of Southbank, the Borough area is undergoing a massive process of transformation, that will in the close future completely redefine its character. The present study is testing different development options, aiming to provide fruitful indication for the time to come.

View of the area

PLANNING FOR THE COMMUNITYpage 5

Common issues, community solutions

Any radical urban transformation risks to compromise the life of the commu-nity of residents. The main challenge of the redevelopment is to respond to the strong demand of new housing in the area, without compromising the provision of green areas and public open space.

Children demonstration against the redevelopment of Brandon House

One of the sign at the “March for Homes”that took place in London iin 2015.

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use restriction

height restriction

no restriction

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EXPLOITABLE AREApage 6

Where to intervene?

Matters of fragmented land owner-ship and pre-existing restriction often compromise the viability of radical de-velopment schemes. For this reason in this study it was chosen to intervene only on the sites that have been iden-tified as more likely to be changing in the next future.

RESTRICTIONS

DEMOLITION

Most of the buildings demolished will be redeveloped in place maintaining the same function. As for the former Brandon House, in this scheme it has been adopted the redevelopment by Allies and Morrison, whose planning consensus has already been given by the local authority.

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site1(net area of intervention)

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site30.24 HA

site20.97 HA

site 20.97 HA

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DEFINING THE SITEpage 7

One area, different sites.

Due to the current complexity and fragmentation of the area, it was cho-sen to divide what has been identified as exploitable area into three different sites. As for the main one, the evalua-tion will consider both the entire site and the net area of intervention.

site 30.24 HA

site 15.2 HA

The proposed scheme allows the re-developement of the three sites as dif-ferent operetions in terms of time and management. Nevertheless, this brief suggests design elements and prin-ciples in order to achieve a cohesive transformation for the entire area.

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DESIGN PRINCIPLESpage 8

Development guidelines

The transformation of the area is led by few simple principles making the new development cohesive with the pattern of buildings and spaces of the exsisting urban fabric, and refer ing at the same time to forms and typologies occurring in similar contemporary de-velopment in London

Increasedpermeability

Communityopen space

Densifyingthe urban fabric

A widerpublic realm

Shared privateopen space

Agopuncturalinfill

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Considering options

The area currently presents buildings and spaces that vary dramatically from the two stories Red Cross cottages to the planned eight stories redevelop-ment of Brandon House. At the same time, it belongs to a broader area in London where skyscrapers coexist with suburban-like elements.

MASSING AND SCALE

View of the study model

The different options presented in this study take in consideration the diverse context of the area, proposing on a similar spatial layout three different approaches in terms of the scale and the impact of the new development.

MASSING AND SCALE: OPTION 1page 10

Climbing over the top

The current guidance from the local planning authority suggests that the ideal height for any new development should be between six and eight sto-ries, reflecting the current state of the area. At the same time several high rise buildings appeared recently in the surroundings of the sites.

View of the study digital model

This created a precedent in the area for development over the guidance standards, changing the local charac-ter and expanding the range of height difference between buildings. The first option takes this into account, testing the impact of medium rise elements up to fifteen stories height.


Six to seven storeys

The second option presented sets a limit of six stories for the new develop-ment, allowing an extra level for roof top houses. The general height varies according to the context, down to two to four stories for new building adja-cent to listed buildings such as the Red Cross cottages.



Refurbishment vs demolition

In the third presented option the two existing housing estates on the site (formerly social housing) are retained and refurbished. While mitigating the visual an social impact of the new de-velopment, this option drastically re-define the amount of total units that the scheme can deliver.


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9000 sqmcurrently on site

17% of total area

17,400 sqm+93%

1/3 of the entire site

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PARAMETERS: PUBLIC SPACEpage 13

Publicly accessible open space

Developing an area with a high pro-portion of unbuilt space is always per-ceived as a loss from the residents.It is therefore of extreme importance to distinguish generic unbuilt space from the open space that is publicly accessible and presents a high envi-ronmental quality.

Pubblicly accessible open space currently on site

The new scheme takes this into max-imum consideration, not only main-taining and increasing the area dedi-cated to gardens and urban squares, but also improving the streetscape by introducing shared surfaces and enlarged pavements, reclaiming the streets as public space.

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2,700 sqmbenchmark

for 270 children

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PARAMETERS: DOORSTEP GARDENSpage 14

Space for everyone

Parallel to the increasing of public open space, the current scheme rede-fines the amount and the quality for the provision of shared private space. This constitutes not only a strate-gic environmental component of the scheme, but also a significant visual amenity for the residents.

At the same time, it provides an amount of doorstep open space that can potentially be turned into play-ground for up to 270 new children in the area. The access to these spaces, limited to the residents of the singu-lar blocks, guarantees safety and con-trolled maintainance costs.

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16,00030% of the entire siteis permeable surface

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PARAMETERS: PERMEABILITYpage 15

A breathing city

Permeable surfaces are a key factor in preventing the overloading of the city drainage system in case of heavy rain. At the same time, they contribute in collecting and filtering pollutant ele-ments from the air, they mitigate the heath-island effects and provide habi-tat for urban wildlife.

Green roofs have been adopted on most of the scheme in order to com-pensate the limited provision of per-meable surface at ground level, due to the buildings footprint and matters of maintainance and cost for the paving of the circulation areas.

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SPATIAL LAYOUTpage 16

Different blocks, different scale

The definition of the form and scale of the proposed new blocks takes in con-sideration the fragmented and diverse carachter of the area. Where possible, big scale blocks where introduced, in order to allow the introduction of dif-ferent functions and flexibility in the range of units.

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Completing the scheme is a series of small scale infill interventions, filling the gaps in between existing and new buildings, contributing not only to achieve higher density standards, but also to redefine the spatial layout of the area.

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SPATIAL LAYOUT: BLOCKSpage 17

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SUN AND SHADOW

MORNING

NOON

AFTERNOON

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More open space, more light

The increased public and private open space, and the general orientation of the buildings, guarantees an optimal provision of direct sun light to the area. The impact of the medium-rise buildings is limited by their location and position setting back from the main street front.

sun and shadow simulation - equinox (mid march - mid september)

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Active streets, active city

In the general outline for the development of the area, a great attention has been given to deliver a constantly active ground floor, embracing the gardens and the other public spaces with active building fronts, limiting back service areas and avoiding blind spaces.

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139 places/651 units

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A viable and liveable city

While suggesting a development largely based on residential space (as suggeste by the general guidelines for the area and the outcome of market analysis), the introduction of mixed use blocks guarantees a viable and liveable mix of activities, attractions for visitors and job opportunities

RESIDENTIAL

HOTELS

OTHER COMMERCIAL

HIGH GRADE OFFICE

LEISURE

RETAIL

COMMUNITY FACILITY

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A place called home

The provision of residential space is an answer to the current high demand for homes in the area, and a legacy to the carachter of the area. Nevertheless, new office and hotel space has been inserted in proximity to the most ac-tive sides of the site, such as Borough High Street and London Bridge.

RESIDENTIAL

HOTELS

OTHER COMMERCIAL

HIGH GRADE OFFICE

LEISURE

RETAIL

COMMUNITY FACILITY

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Over the top

Rather than just being a roof, the use of the top of most of the buildings have been optimised by introducing extra concentrated residential space and rows of penthouse, at the same time an ironic tribute to a typical typology of the area and a response to a local high demand for luxury units.

RESIDENTIAL

HOTELS

OTHER COMMERCIAL

HIGH GRADE OFFICE

LEISURE

RETAIL

COMMUNITY FACILITY

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SECTION 1

The scale of the new intervention reduces

drastically in proximity of listed buildings,

such as the Red Cross cottages.

The school is enclosed by double storey

maisonettes, allowing a continuously active

front on the perimetral street.

Inserted at the core of the central mixed

use block, the new school and the residential

upper floors share the same courtyard at

different levels.

RESIDENTIAL

HOTELS

OTHER COMMERCIAL

HIGH GRADE OFFICE

LEISURE

RETAIL

COMMUNITY FACILITY

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SECTION 2

Small scale infill interventions mediate

the relationship between the new

development and the existing context.

Another role of the infill intervention is

to complete existing blocks, redefining

their fronts.

Roof top penthouses contribute to define

the character of the area. The North-

South orientation of the streets provides

sufficient sun light even in the narrower

sections.

RESIDENTIAL

HOTELS

OTHER COMMERCIAL

HIGH GRADE OFFICE

LEISURE

RETAIL

COMMUNITY FACILITY

SECTION 3page 25

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By covering the main parking areas inside

the blocks, it increases the permeable

surface and the provision of doorstep

outdoor space.

The block hosting the hotel in the northern

site embraces the existing building, redefining

an otherwise blind wall.

Stepping back facades allows taller buildings

to fit in the original streetscape of Union

Street

RESIDENTIAL

HOTELS

OTHER COMMERCIAL

HIGH GRADE OFFICE

LEISURE

RETAIL

COMMUNITY FACILITY

RESIDENTIAL

HOTELS

OTHER COMMERCIAL

HIGH GRADE OFFICE

LEISURE

RETAIL

COMMUNITY FACILITY

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SECTION 4

Enclosed by new buildings opening to

the garden, the Crossbones cemetery is

landscaped and open to the public.

At the South side of the development,

lower buildings interact with the existing

ones.

A new mixed use infill intervention, hosting

at its lower level community facilities,

provides a new access to Union street.

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An enhanced public realm

A combination of traditional streets and shared surfaces with limited car access guarantees a fully functional distribution in the area and an im-proved streetscape for people walking accross the area and all the different users of the open space.

OTHER OPEN SPACE

PLAYGROUND

GREEN AREAS

GROUND FLOORPRIVATE SPACE

VEHICULAR MOVEMENT

SHARED SURFACELIMITED CAR ACCESS

EXISTING BUILDINGS

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FUTURE ARMATUREpage 29

Visions for the future

The proposed development scheme is a fundamental step supporting the transformation of the entire Borough area. It will promote the regeneration of the High Street by consolidating the inner part of the block, providing more living space and new commercial space in strategic locations.

Future armature for the area

At the same time, it will enrich the lo-cal environment through the redesign of the existing open spaces, the crea-tion of new ones, and the promotion of Union Street as part of a network of quality leisure urban spaces for res-idents and visitors.

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FINANCIAL APPRAISALpage 30

Financial appraisal

The one outlined in the following pag-es is the financial appraisal for the proposed development scheme, and the comparison of the three different options.

FINANCIAL APPRAISAL: SITE1page 31

PG Urban Design Spreadsheet B:Detailed Development Appraisal

23/03/2015

OPTION1

Non-residential uses

Floorspace by use: Gross: Net:rental value/

sq.m: yield: Total value: Abitable rooms:

Retail 1514 1287 £ 250 6.00% £ 5,362,083 47Leisure or secondary retail 662 563 £ 180 6.50% £ 1,558,246 20High grade Office/Commercial 4098 3483 £ 600 5.00% £ 41,799,600 127Other commercial use 588 500 £ 450 6.00% £ 3,748,500 18Hotels 0 n/a n/a n/a £ 0 #VALUE!Brandon House redevelopment 4800 4080 £ 425 5.50% £ 31,527,273 148Refurbished buildings 0 0 £ 200 10.00% £ 0 0Total area of retained non-residential bldgs. 25475 21654 n/a n/a £ 141,565,934 787Community facilities (inc sect 106) 4036 0 n/a n/a

New gross commercial floor area 6862

Residential: all dwellings

Flats for sale Total units: Area/unit sales value/unit:Gross area

total: Total value: Abitable rooms:

1-bed flats 84 55 £ 600,000 5435 £ 50,400,000 852-bed flats 182 75 £ 850,000 16059 £ 154,700,000 3653-bed flats 58 100 £ 1,100,000 6835 £ 63,910,000 1754-bed+ flats 6 110 £ 1,200,000 815 £ 7,560,000 26Brandon House redevelopment 1 4284 £ 8,500 5040 £ 36,414,000 100Sub-total 330 34185

Houses for sale Total units: Area/unit sales value/unit:Gross floor area


2-bed 14 80 £ 950,000 1120 £ 13,300,000 293-bed 42 105 £ 1,200,000 4410 £ 50,400,000 127Sub-total 56 5530 Abitable rooms ratio:

Flats for rent (affordable) Total units: Area/unitsales

value/sq.m:Gross floor area

total: Total value: Abitable rooms:Gross floor area

total: Abitable rooms: Ratio:

1-bed flats 36 50 £ 4,250 2118 £ 7,650,000 372-bed flats 84 75 £ 4,250 7412 £ 26,775,000 169 49569 1152 433-bed flats 43 100 £ 4,250 5047 £ 18,232,500 1304-bed flats 3 100 £ 4,700 318 £ 1,269,000 9Brandon House redevelopment 1 1836 £ 4,250 2160 £ 7,803,000 43Existing retained residential total area 1 9155 £ 6,375 10770 £ 58,359,938 213Sub-total 168 19747

Extras units sqmt/unitAdd'l sales value/unit Total value:

Flats for sale with park view 122 £ 25,000 £ 3,050,000

sub-basement parking spaces - total 76 25 1900

sub-basement parking spaces - for sale 66 25 £ 10,000 £ 660,000

Gross floor area total: Total value:

Total abitable rooms:

Total (new dwelling units only) 554 56769 £ 726,045,074 2407 101776

Affordable housing as proportion of total (including retained buildings) 29%

Hotels: Dwelling unit sizes (social housing and typical market units)

bed-spaces all units m2 housesCapital value/room @ 80% occupancy rates £ 200,000 studio 30-50m2 40

Hotel quality (no of stars 2, 3 4 or 5) 4 1-bed 40-60m2 55Gross area of bedroom floors 0 2-bed 60-90m2 80 65-100m2

Gross area of bedroom floors 0 3-bed 80-120m2 90 90-130m2

Average bedroom suite size 20 4-bed 100-150m2 110 110-180m2

No of bedrooms 0

Gross floor area of hotel 0 GDV/sq.m (Gross Development Value for social housing)Ground and upper floor ancillary areas 0 Social rent £ 4,250

Capital value £ 0 Shared ownership £ 4,700

Number of units (total):

Typology:Number of

units:

1B 108key: 2B 194B = bedroom 3B 63H = house 4B 9V = view 2BH 14

3BH 421BV 122BV 723BV 38TOTAL 552

University of Westminster 23/03/2015 Postfraduate Urban Design



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3BH 421BV 122BV 723BV 38TOTAL 552



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3BH 421BV 122BV 723BV 38TOTAL 552



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3BH 421BV 122BV 723BV 38TOTAL 552



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3BH 421BV 122BV 723BV 38TOTAL 552



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3BH 421BV 122BV 723BV 38TOTAL 552



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3BH 421BV 122BV 723BV 38TOTAL 552



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3BH 421BV 122BV 723BV 38TOTAL 552



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Typology:Number of

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3BH 421BV 122BV 723BV 38TOTAL 552


note 2

The abitable rooms ratio was used to calculate the amount of abitable rooms for the retained residential area.

note 1

The total amount of new units is listed separately in this database, that is used in the main spreadsheet to generate automatically the number of afforda-ble and for sale units, according to the rate of the rate of affordable housing given as an input. This allows a quick-er and more flexible way to evaluate different options.

1 2



Floorspace/units building costs

Gross floorspace by use.: sq.m building cost/sq.m Total building cost

Retail 1514 £ 800 £ 1,211,200

Leisure or secondary retail 662 £ 1,000 £ 662,000

High grade Office/Commercial 8898 £ 1,900 £ 16,906,200

Other commercial use 588 £ 1,450 £ 852,600

Existing non-res buidings retained 25475

Hotels 0 £ 2,000 £ 0

Refurb buildings 0 £ 500 £ 0

Residential for sale: flats 34185 £ 1,800 £ 61,532,471

Residential for sale: houses 5530 £ 1,600 £ 8,848,000

High rise residential: extra cost* 10027 £ 450 £ 4,512,150

Affordable housing: flats 17054 £ 1,500 £ 25,581,176

Existing Residential 10770

Community Facilities 4036 £ 1,500 £ 6,054,000Underground/garage parking 1900 £ 750 £ 1,425,000

Total building area and cost 110612 £ 127,584,797*not to be included in the total area

CIL sq.m CIL/sq.m Total CIL

OFFICE 9486 £0 £0

HOTEL 0 £125 £0

RESIDENTIAL 77566 £200 £15,513,165

ALL OTHER RETAIL 2176 £125 £272,000

ALL OTHER USES 25475 £30 £764,250

Total building area and cost 114703 £ 16,549,415

CIL

A new spreadshit was introduced, pro-viding automatically the CIL calcula-tion for the site.

Residual site value calculationTotal value of development £ 726,045,074

Building costs £ 127,584,797

Infratructure costs and basic landscaping @ 10% £ 12,758,480Basic landscaping costs @ 5% £ 6,379,240Additional site treatement 5% £ 6,379,240

Total construction cost £ 153,101,756

Additional costs £ 0

Professional fees @ 12.5% £ 19,137,720

Contingencies @ 5% £ 7,655,088

Sub total £ 179,894,564

Short-term finance @ 8% p.a. £ 14,391,565

(Assumes 2-year development programme)

Sub-total £ 194,286,129

Developer's profit 20% £ 38,857,226

(Level of profit depends on perceived risk)

Sub-total £ 233,143,355

CIL at £35 psm £ 240,170

Agents and selling fees @ 3% £ 6,994,301

Total development cost £ 240,377,825

Southwark CIL £ 16,549,415Residual value £ 469,117,834

Site Area (HA) 5.2

Net Site Area (HA) 4.6Value/Ha £ 90,214,968Plot ratio 2.40Residential density (habitable rooms/ha) 463Affordable housing as proportion of total new development 30%









Sub total £ 179,894,564



Sub-total £ 194,286,129



Sub-total £ 233,143,355

CIL at £35 psm £ 240,170




Site Area (HA) 5.2










Sub total £ 179,894,564



Sub-total £ 194,286,129



Sub-total £ 233,143,355

CIL at £35 psm £ 240,170




Site Area (HA) 5.2









Sub total £ 179,894,564



Sub-total £ 194,286,129



Sub-total £ 233,143,355

CIL at £35 psm £ 240,170




Site Area (HA) 5.2









Sub total £ 179,894,564



Sub-total £ 194,286,129



Sub-total £ 233,143,355

CIL at £35 psm £ 240,170




Site Area (HA) 5.2









Sub total £ 179,894,564



Sub-total £ 194,286,129



Sub-total £ 233,143,355

CIL at £35 psm £ 240,170




Site Area (HA) 5.2









Sub total £ 179,894,564



Sub-total £ 194,286,129



Sub-total £ 233,143,355

CIL at £35 psm £ 240,170




Site Area (HA) 5.2









Sub total £ 179,894,564



Sub-total £ 194,286,129



Sub-total £ 233,143,355

CIL at £35 psm £ 240,170




Site Area (HA) 5.2









Sub total £ 149,675,444



Sub-total £ 161,649,479



Sub-total £ 193,979,375

CIL at £35 psm £ 240,170




Site Area (HA) 2.5









Sub total £ 149,675,444



Sub-total £ 161,649,479



Sub-total £ 193,979,375

CIL at £35 psm £ 240,170




Site Area (HA) 2.5


Net site to Gross site

Different evaluation were made com-paring the overall site (including the retained buildings) and only the area directly interested by the redevelop-ment.

REDEVELOPED SITE (ONLY NEW DEVELOPMENT) - 2.5 HA

ENTIRE SITE (INCLUDING RETAINED BUILDINGS) - 5.2 HA



23/03/2015

OPTION1




Retail 1084 921 £ 250 6.00% £ 3,839,167 34Leisure or secondary retail 223 190 £ 180 6.50% £ 524,908 7High grade Office/Commercial 9024 7670 £ 600 5.00% £ 92,044,800 279Other commercial use 0 0 £ 450 6.00% £ 0 0Hotels 5957 n/a n/a n/a £ 20,000,000 217Brandon House redevelopment 0 0 £ 425 5.50% £ 0 0Refurbished buildings 0 0 £ 200 10.00% £ 0 0Total area of retained non-residential bldgs. 1360 1156 n/a n/a £ 8,613,333 42Community facilities (inc sect 106) 288 0 n/a n/a





1-bed flats 36 55 £ 600,000 2310 £ 21,420,000 372-bed flats 20 75 £ 850,000 1729 £ 16,660,000 403-bed flats 13 100 £ 1,100,000 1482 £ 13,860,000 394-bed+ flats 0 110 £ 1,200,000 0 £ 0 1Brandon House redevelopment 0 0 £ 8,500 0 £ 0 0Sub-total 68 5522



2-bed 0 80 £ 950,000 0 £ 0 13-bed 0 105 £ 1,200,000 0 £ 0 1Sub-total 0 0 Abitable rooms ratio:





1-bed flats 15 50 £ 4,250 900 £ 3,251,250 162-bed flats 8 75 £ 4,250 741 £ 2,677,500 18 7798 171 463-bed flats 5 100 £ 4,250 635 £ 2,295,000 174-bed flats 0 100 £ 4,700 0 £ 0 1Brandon House redevelopment 0 0 £ 4,250 0 £ 0 0Existing retained residential total area 0 0 £ 6,375 0 £ 0 0Sub-total 29 2276




sub-basement parking spaces - for sale 0 25 £ 10,000 £ 0










No of bedrooms 100


Capital value £ 20,000,000 Shared ownership £ 4,700


Typology:Number of

units:


3BH 01BV 512BV 283BV 18TOTAL 97




Floorspace/units building costs

Gross floorspace by use.: sq.m building cost/sq.m Total building cost

Retail 1084 £ 800 £ 867,200

Leisure or secondary retail 223 £ 1,000 £ 223,000

High grade Office/Commercial 9024 £ 1,900 £ 17,145,600

Other commercial use 0 £ 1,450 £ 0

Existing non-res buidings retained 1360

Hotels 5957 £ 2,000 £ 11,914,000

Refurb buildings 0 £ 500 £ 0

Residential for sale: flats 5522 £ 1,800 £ 9,939,176

Residential for sale: houses 0 £ 1,600 £ 0

High rise residential: extra cost* 5522 £ 450 £ 2,484,794

Affordable housing: flats 2276 £ 1,500 £ 3,414,706

Existing Residential 0

Community Facilities 288 £ 1,500 £ 432,000Underground/garage parking 0 £ 750 £ 0

Total building area and cost 25734 £ 46,420,476*not to be included in the total area

CIL sq.m CIL/sq.m Total CIL

OFFICE 9024 £70 £631,680

HOTEL 5957 £250 £1,489,250

RESIDENTIAL 13320 £400 £5,328,000

ALL OTHER RETAIL 1307 £125 £163,375

ALL OTHER USES 1360 £30 £40,800

Total building area and cost 30968 £ 7,653,105








Sub total £ 179,894,564



Sub-total £ 194,286,129



Sub-total £ 233,143,355

CIL at £35 psm £ 240,170




Site Area (HA) 5.2










Sub total £ 65,452,872



Sub-total £ 70,689,102



Sub-total £ 84,826,922

CIL at £35 psm £ 570,080




Site Area (HA) 0.97


SUMMARY OPTION1 OPTION2 OPTION3

Total value of development £ 913,656,031 £ 805,381,264 £ 749,414,836

Total development cost £ 328,319,635 £ 272,127,287 £ 238,345,707

Residual value £ 561,133,876 £ 509,051,457 £ 486,866,609

Site Area Ha 6.17 6.17 6.17Net Site Area (HA) 5.57 5.57 5.57Value/Ha £ 90,945,523 £ 82,504,288 £ 78,908,689Plot ratio 2.45 2.20 2.08Residential density (habitable rooms/ha) 476 430 404

Affordable housing / New development 30% 30% 30%Affordable housing as proportion of total 29% 29% 37%

Developer's profit £ 52,995,046 £ 43,888,699 £ 38,425,041

SUMMARY SITE1 SITE2 TOTALTotal value of development £ 726,045,074 £ 187,610,957 £ 913,656,031

Total development cost £ 240,377,825 £ 87,941,810 £ 328,319,635Southwark CIL £ 16,549,415 £ 7,653,105 £ 24,202,520Residual value £ 469,117,834 £ 92,016,043 £ 561,133,876


FINANCIAL APPRAISAL: SITE1 + SITE2page 39




Residual value £ 561,133,876 £ 509,051,457 £ 486,866,609







Different options

The different development options proposed were evaluated form a fi-nancial perspective.

FINANCIAL APPRAISAL: DIFFERENT OPTIONSpage 40

Playing with the numbers

Having linked all the calculations to the rate of affordable housing allowed an easy comparison of the different options. In particular, it is interesting to note the different amount of af-fordable housing allowed by the three schemes, having as a result the same value per hectare for the area.




Residual value £ 511,686,233 £ 509,051,457 £ 509,904,264







UNIVERSITY OF WESTMINSTER | AURD717 DEVELOPMENT PROCESS | SIMONE GOBBER

BOROUGHDESIGN REPORT

Southwark Development Appraisal

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Transcript of Southwark Development Appraisal