Stratford-on-Avon District Council Community Infrastructure ......Statement to the Stratford-on-Avon...

Stratford-on-Avon District Council

Community Infrastructure Levy

Schedule Examination Hearing:

Hearing Statement

Prepared on behalf of:

IM Properties PLC

September 2016

Contents

1. Introduction 1

2. Issues for Examination 2

Appendix 1: National Nil or Negligible CIL Charging: Strategic Sites 12

Appendix 2: Extract from Lichfield CIL Draft Charging Schedule Viability Report 14

Appendix 3: GLH Appraisal 1 – Corrected PC1E: 16

Appendix 4: Redacted Letter from PBA 17

Appendix 5: Appraisal 2 – Corrected PC1E: GLH with CIL as Development Cost 18

Appendix 6: Appraisal 3: GLH Refined CIL Viability Assessment 19

Appendix 7: GLH Residential Market Report 20

Appendix 8: PBA Technical Statement for IM: April 2016 21

Appendix 9: Bromford Affordable Housing Pricing Correspondence 22

Appendix 10: GLH S106 / S278 Summary Cost Schedule (as agreed with the Council) 23

Contact

Matt Spilsbury MRICS MRTPI

Director

Economics – Development Advisory

[email protected]

Client

IM Properties Plc

September 2016

1

1. Introduction

Purpose

1.1 On behalf of IM Properties PLC (‘IM’), Turley has prepared the following Hearing

Statement to the Stratford-on-Avon District Council (‘the Council’) Community

Infrastructure Levy (CIL) Charging Schedule Examination (‘the Examination’).

1.2 IM is promoting a planning application (15/04200/OUT) for the development of up to

1,000 dwellings at the proposed Gaydon / Lighthorne Heath New Settlement (‘GLH’).

The Council’s Core Strategy 2011-31 (adopted July 2016) requires the delivery of at

least 14,485 additional dwellings over the plan period (an average of 725 per annum).

GLH will provide a substantial proportion of this requirement equating to 2,500

dwellings, including a significant contribution to the five-year supply (425 dwellings in the

period 2016-2021), and a further 500 homes beyond. GLH is fundamental to the

Council’s Core Strategy and it is critical that delivery of this new settlement is not

stalled, delayed or rendered undeliverable in part or in its entirety by the

introduction of CIL.

1.3 The Council’s CIL Submission Charging Schedule (‘SCS’) (EBD1) proposes a dedicated

‘zone’ with a CIL rate of £110 per square metre (psm) for residential development, and a

separate rate of £10 psm for retail development (A1 - A5 uses), at GLH.

1.4 Turley and IM are of the firm belief that the CIL rate for GLH should be reduced to

nil (£0/m2). Turley and IM have identified flaws in the viability evidence base (EBD2;

PC1E; PC1D) that have the effect of significantly overstating the viability of GLH (and

likely other strategic sites) and the ‘headroom’ to accommodate the proposed CIL rates.

This will place delivery of the Core Strategy housing requirement at risk by leading to

possible delays or rendering sites undeliverable.

1.5 The Council and PBA should review the proposed rates carefully for the other strategic

sites in light of the issues with the underpinning CIL evidence base identified in this

Hearing Statement. Presently, these issues draw Turley and IM to the conclusion that

the proposed CIL rates will fail to strike an appropriate balance under CIL Regulation 14.

1.6 The introduction of a minimal or nil CIL rate on strategic sites is consistent with general

practice nationally. This reflects the substantial cost burden and associated elevated

delivery risks already faced in meeting opening up costs and S106/S278 infrastructure

obligations before introducing additional CIL liability. Examples are provided at

Appendix 1. This stance is reflective of the direction of travel from Local Authorities and

the anticipated recommendations of the CIL Review Panel appointed by DCLG1.

1.7 This conclusion is representative of the latest available, appropriate, information with

respect to GLH and also reflects upon on additional information published by PBA/the

Council following CIL Draft Charging Schedule consultation in November 2015. This

therefore supersedes previous representations made by IM.

1 https://www.gov.uk/government/consultations/community-infrastructure-levy-review-questionnaire

2

2. Issues for Examination

Residential CIL

Residential CIL Viability Modelling Assumptions

2.1 The latest viability assessment appraisals underpinning the CIL Economic Viability

Study (EVS) SCS (EBD2) have been disclosed within the Examination library.

2.2 This disclosure (PC1D and PC1E) has allowed appropriate scrutiny of the Council’s

‘available evidence’, which has confirmed mathematical errors in the viability appraisals:

• Professional Fees: In PC1E alongside item 2.5.1 it clearly states that

professional fees are applied at 10% on build costs including (plot) externals.

However, professional fees are normally also accrued in respect of site opening

up works (item 2.4.2) and higher build specifications sought by planning policy.

This gives rise to three primary associated issues:

‒ Item 2.7.2 of the PC1E appraisal incorporates an uplift on base build costs

of 2.5% to reflect the Council’s policy requirements2 for development to

accord to design, space and sustainability standards that exceed Building

Regulations (Part L). This is recognised as a genuine cost that will need to

be considered in developing new homes in Stratford-on-Avon within

supporting commentary at 5.3.20-5.3.21 of the CIL EVS SCS (EBD2). As

such it should be incorporated as an extra-over to the base construction

cost and inserted into the viability appraisal in place of item 2.3.3. Given it

will form a component of the build costs it will also incur associated

professional fees and will require an appropriate contingency allowance.

PC1E does not allow for either, since the ‘higher housing standard’ extra

over cost has been incorrectly included under the ‘developer contributions’

section of the viability appraisal.

‒ The figure of 10% professional fees is firstly inconsistent with the stated

assumption of 12% professional fees within CIL EVS SCS (EBD2) at

paragraph 5.3.22. This leads to an inconsistency between the viability

appraisal evidence and EVS report. A figure of 12% professional fees

represents the bottom of the range of costs for large complex strategic sites

such as GLH, which incur additional costs of site assembly, planning

promotion and professional fees associated with designing, procuring and

project managing the provision of large scale incoming services (gas,

electricity, telecoms, foul drainage etc.) and complex infrastructure

provision including on-site and offsite highway works, balancing ponds and

a noise bunds along the M40. This sits outside the traditional allocation of

professional fees for smaller non-strategic sites. This is clearly recognised

as a necessary and appropriate order of cost within the Harman Guidance3.

2 Stratford Core Strategy 2011-2031 (July 2016): Policies CS.2: Climate Change and Sustainable

Construction; CS3: Sustainable Energy; CS.4: Water Environment & Flood Risk 3 Local Plans Housing Delivery Group (2012) Viability Testing Local Plans: Advice for Planning

Practitioners (‘the Harman Guidance’) Appendix B p.44-45

3

‒ In any case, the figure of 10% professional fees has not been applied to

build costs and plot externals (and extra over housing standards). It has in

fact only been applied to build costs. The consequence for the GLH

appraisal (PC1E) is an undercount of professional fees. If the figure of 12%

professional fees was to be included as stipulated in the CIL EVS SCS

(EBD2), then this undercount increases further.

• Contingency: In PC1E alongside item 2.6.1 it clearly states that contingency

allowance is incorporated at 5% on build costs including (plot) externals. As with

professional fees, this would be the rational absolutely minimum contingency

allowance, which would normally also be accrued in respect of site opening up

works (item 2.4.2)4 and policy-driven higher build specification (as referenced

above). The figure of 5% contingency has not been applied to build costs and plot

externals within PC1E (nor has it been applied to the higher housing standards

extra-over costs). It has in fact only been applied to build costs. The consequence

for the GLH appraisal (PC1E) is an undercount of the contingency allowance.

• Sale Cost: In PC1E alongside item 2.8.1 it clearly states that sales costs (legal,

agents and marketing fees) associated with unit disposals are applied at a cost of

3% of the Gross Development Value (GDV) of the open market units only. This is

consistent with the statement at paragraph 5.3.30 within the CIL EVS SCS

(EBD2). In fact, the figure of 3% sales cost has actually been applied to the GDV

of all tenures (i.e. all units). The consequence for the GLH appraisal (PC1E) is an

overestimate of sales costs of £3,552,775. Whilst it should be recognised that in

reality housebuilders on large sites will frequently engage a specialist agent to

dispose of the affordable units to a Registered Provider (RP) and will without

doubt incur legal conveyancing fees, this has not been acknowledged by PBA

within the CIL EVS SCS (EBD2). It is therefore assumed that this represents an

error, with clarification required.

• Land Purchase Costs: In PC1E at item 2.1.1 it states that purchaser’s costs are

applied to the RLV at a rate of 5.75%. Table 5.7 of the CIL EVS SCS (EBD2)

states that this figure represents legal and agent’s fees at 1.75% of the RLV, plus

Stamp Duty Land Tax (SDLT) at the former HMRC rate of 4%. The HMRC rates

were revised from 17 March 20165. Application of the current HMRC SDLT rate

would equate to 4.99% of the RLV. This represents an unavoidable cost to

development of sites in the current market. PC1E (and the other appraisals in

PC1D) should be re-run with the land purchase costs adjusted to reflect the

current rates stipulated by HMRC. In addition, the acquisition fees should be

adjusted to 1.80% of RLV to reflect current market practice relating to agent’s

fees and legal fees plus VAT. A separate, additional issue, is that the PC1E

appraisal has not applied any finance costs (i.e. interest) to the purchaser’s costs

- an error within PBA’s modelling which appears to have resulted from

4 Note: it is recognised that the opening up costs of £17,403/unit incorporated in PC1E for GLH are

reflective of the Land at Lighthorne Heath Development Infrastructure Report prepared by Brookbanks for CEG and dated January 2014. This report clearly stipulates that appropriate allowances are made for both professional fees (12%) and contingency (5%). It is considered that contingency (and professional fees) on opening costs is therefore already reflected in the PC1E appraisal. 5 https://www.gov.uk/stamp-duty-land-tax/nonresidential-and-mixed-use-rates

4

purchaser’s costs not being incorporated within the cashflow modelling. It is

standard practice for finance costs to apply from the outset of a project.

• Finance: PC1E, item 4.1 it states that the finance costs on development are

applied at a 6.5% debit rate (per annum). This is inconsistent with the CIL EVS

SCS (EBD2), which states at paragraph 5.3.34 that a finance rate of 7.00% has

been applied across all viability appraisals on the basis that this is representative

of the typical rate applied to development in the current market. It is IM and

Turley’s view that the finance rate of 7.00% remains representative of the current

market for lending – particularly with respect to larger, multi-phase sites, which

require significant early infrastructure investment and complex debt and equity

funding structures.

PBA prepared the underpinning viability evidence within the Lichfield CIL Draft

Charging Schedule Viability Report (January 2015). The Examination Hearing for

the Lichfield CIL Charging Schedule was held in January 2016, with the

Examiner’s Report published on 24 February 20166. This included a finance rate

of 7% and a clarification by PBA on the matter was set out at paragraph 4.77 on

page 26 of their report as follows:

“A consultation response questioned the assumption on finance costs. At present,

typical interest rates that can be achieved are in the region of 5%. Alongside this

interest cost there are a number of fees associated with taking a loan including

items such as exit fees. For simplicity we have collected these costs into the

overall interest rate and increased the rate to reflect these additional costs.”

As the documentation no longer appears to be available online an excerpt is

provided at Appendix 2. The finance rate was held at 7% in all subsequent

underpinning viability evidence prepared up to the Examination in January 2016.

Turley and IM do not see any realistic justification for PBA adopting a finance rate

that contradicts their own evidence tested earlier this year at Examination when

the availability of development finance is consistent nationally and the residential

market has, in fact, slowed in the intervening period as a result of the EU

Referendum (thus increasing lenders’ perceived risk).

2.3 These errors are replicated within PC1D.

2.4 Turley has prepared a variant of the GLH viability appraisal (PC1E) titled ‘Appraisal 1’,

which solely corrects the above mathematical errors and inconsistencies with the CIL

EVS SCS (EBD2). The correction reduces the RLV by £115,692/net ha, which reduces

the maximum CIL ‘headroom’ on CIL liable floorspace to £129.27/m2. This results in a

‘buffer’ from the margin of viability (i.e. the maximum amount available for CIL) of

approximately £19/m2 (GIA) or just 15% if the Council maintains its proposal for a CIL

rate of £110/m2 at GLH. A summary of the methodology applied is presented in Table

2.1 overleaf. Appraisal 1 is provided at Appendix 3.

6 https://www.lichfielddc.gov.uk/Council/Planning/The-local-plan-and-planning-policy/Planning-

obligations/Downloads/Community-Infrastructure-Levy-CIL/Lichfield-CIL-final-examiners-report.pdf

5

Table 2.1: Corrected GLH Viability Appraisal (‘Appraisal 1’): Summary Methodology – CIL Headroom, Rates & Buffer

Net

Site

Area

Residual Land Value

(RLV) (3,000 Units)

Threshold

Land Value

(TLV)

RLV

'Headroom'

Above TLV

Sqm

Floorspace /

net Ha

CIL 'Headroom'

(CIL Liable

Floorspace)

Stratford CIL Submission

Charging Schedule

Corrected PC1E:

Appraisal 1

Net Ha £ Total £/net ha £/net ha £/net ha Total

CIL

Liable £/m2 (GIA)

£/m2

(GIA) CIL

Rate

£/m2

(GIA)

'Buffer'

%

'Buffer'

CIL @ £110/m2 75.34 £69,329,248 £920,218 £640,000 £280,218 3,236 2,168 £129.27 £110 £19 15%

CIL @ £77/m2 75.34 £69,329,248 £920,218 £640,000 £280,218 3,236 2,168 £129.27 £77 £52 40%

Source: Turley

6

2.5 PBA proposes a ‘buffer’ of 40% (the difference between the maximum CIL rate in PC1E

of £180/m2 and the proposed CIL rate for GLH of £110/m

2 within the CIL SCS (EBD1)).

Within paragraph 6.2.19 of the CIL SCS EVS (EBD2), PBA recommends that the

Council considers taking a more cautious approach to setting a CIL rate for GLH and the

other strategic sites.

2.6 It is IM and Turley’s express view that the buffer on strategic sites should remain at 40%

as a minimum. Solely allowing for mathematical corrections as per Appraisal 1,

Table 2.1 demonstrates that this would require reduction of the proposed CIL rate

at GLH to £77/m2. However, further refinement is required beyond this.

CIL Cashflow Impact

2.7 The PBA methodology calculates the available CIL ‘headroom’ outside of the viability

appraisal (it is in PC1D and PC1E appraisals as a £0 cost at item 2.7.3). However, once

adopted, CIL will become a fixed cost on development. Excluding CIL from the viability

appraisals fails to accommodate the cashflow and development finance (interest)

implications of incurred CIL liability. This is recognised as a necessary and appropriate

order of cost within the Harman Guidance:

“Cashflow considerations should also take into account the costs of capital employed in

relation to infrastructure costs, Section 106 and CIL requirements and land purchase

costs, and should incorporate realistic assumptions on build and sales rates based upon

local market conditions.” 7

2.8 PBA’s current approach has passed through CIL Examination elsewhere. However, this

represents an oversight that has been acknowledged by PBA in correspondence

relating to CIL viability testing for a different strategic site in July 2016. A letter from PBA

relating to this site (and which has been redacted to ensure confidentiality) is disclosed

at Appendix 4.

2.9 Table 2.1 showed that when CIL is assessed outside of the appraisal, a CIL rate of

£77/m2 resulted in a 40% buffer, with corrections applied through Appraisal 1.

2.10 A second appraisal for GLH, titled ‘Appraisal 2’ has been attached at Appendix 5. This

is consistent with Appraisal 1, except that CIL is introduced as a cost within the

appraisal at £77/m2.

2.11 Introducing CIL into Appraisal 2 as a development cost reduces the buffer to just 19%,

which is insufficient. This demonstrates the substantial underestimation of cost under

the PBA methodology. In order to reinstate a buffer of 40%, this necessitates

reducing the CIL rate to £13/m2. A summary of the methodology applied is presented

in Table 2.2.

7 Local Plans Housing Delivery Group (2012) Viability Testing Local Plans: Advice for Planning

Practitioners (‘the Harman Guidance’) Appendix B p.44-45

7

Table 2.2: GLH Viability Appraisal 2: Summary Methodology – Introducing CIL into Appraisal as Development Cost

Net

Site

Area

Residual Land Value

(RLV) (3,000 Units)

Threshold

Land Value

(TLV)

RLV

'Headroom'

Above TLV

Buffer

Calculation

Methodology

Appraisal 2

Net Ha £ Total £/net ha £/net ha £/net ha Explanation

%

'Buffer'

CIL @ £77/m2 75.34 £57,583,385 £764,314 £640,000 £124,314

Proposed CIL @ £77/m2 in cashflow as development

cost. Buffer directly equates to remaining % headroom

of RLV above TLV = 19%

CIL @ £13/m2 75.34 £67,346,180 £893,897 £640,000 £253,897

Proposed CIL @ £13/m2 in cashflow as development

cost. Buffer directly equates to remaining % headroom

of RLV above TLV = 40%

Source: Turley

8

2.12 Turley has not tested whether the mathematical errors and inconsistencies result in a

greater or lesser impact on the viability of other site typologies and strategic sites. We

would strongly encourage the Examiner to request PBA to re-run the appraisals to

correct these errors, and amend the conclusions as necessary and appropriate, ahead

of the Examination Hearing.

Gaydon-Lighthorne Heath (GLH) CIL Zone & Charge: Further Refinement

2.13 Despite Turley presenting a mathematically ‘corrected’ version of PC1E within ‘Appraisal

1’ (Appendix 3) and having demonstrated the impact of introducing CIL as a

development cost within ‘Appraisal 2’ (Appendix 5), Turley and IM do not endorse or

support these appraisals as being appropriate to underpin the proposed CIL rate for

GLH within the CIL SCS (EBD1).

2.14 IM has continued to progress preparation of the technical assessments underpinning the

proposals for its interests at GLH In the intervening period since representations were

submitted to the Council’s CIL Draft Charging Schedule (DCS) consultation in

November 2015.

2.15 An outline planning application was submitted on 30 November 2015 under application

reference 15/04200/OUT for the construction of up to 1,000 dwellings. This was

amended by a revised submission dated 30 June 2016, and a target Planning

Committee date has now been confirmed by the Council (11 October 2016).

2.16 Finer grained and up-to-date evidence is now available to inform the development cost

and development value assumptions for GLH. IM has made this evidence available as

part of this Hearing Statement submission (supporting documents attached), and has

also directly engaged with the Council and PBA in the months prior to submitting this

evidence.

2.17 In summary, as a result of corrections to the PC1E appraisal and the utilisation of

additional underpinning evidence within further viability testing, it is Turley and

IM’s firm opinion that the residential CIL rate for GLH should be reduced to nil

(£0/m2).

2.18 To justify this, a third appraisal for GLH titled ‘Appraisal 3’ is attached at Appendix 6 for

the Examiner’s consideration8. This uses Appraisal 2 as its starting point (i.e. correcting

the errors and inconsistencies in PC1E), but refines key cost and value factors for which

Turley and IM consider there to now be more robust evidence available.

2.19 The refinements are set out below under relevant headings. The item reference

correlates with the numbering within the appraisal.

8 For complete disclosure we have included the full cashflow, which has not been provided as part of the

Examination documentation by PBA or the Council. IM received a ‘locked’ version of the PC1E appraisal in late 2015 from PBA, which included the cashflow assumptions (i.e. trajectory of development costs and values over time). These have not altered subsequently (as PC1E remains unchanged) and we therefore consider the cashflow trajectory as entirely consistent with PBA’s approach and modelling. We have not sought to alter this trajectory at this stage, but reserve the right to do so if further evidence comes available.

9

Open Market Values (OMV) - Sales (Item 1.1)

2.20 In August 2016, IM instructed well-regarded local residential agents Peter Clarke & Co

and CBRE’s residential Land & Development advisors to prepare an independent joint

Residential Market Context Report for GLH (‘the Market Report’). This is attached as

Appendix 7.

2.21 It provides a robust up-to-date analysis of achieved sales pricing at new build residential

sites across Stratford district and the surrounding area. Accurate net transaction prices

have been obtained directly from housebuilders. This analysis sets GLH within the

context of the wider market area and considers both locational and reputational factors,

alongside transactional evidence for comparators, to present a robust conclusion on the

current market pricing range at GLH. In weighing these factors the report concludes that

houses at GLH would be expected to achieve average net sales values between

£265/ft2 and £275/ft

2 (£2,852/m

2 - £2,960/m

2).

2.22 The report confirms that average sales value for houses of £3,050/m2 (£283.35/ft

2)

within the CIL SCS EVS (EBD2) and used in PC1E, (which is understood to represent

Q4 2014) remains unrealistically high for GLH in the current market.

2.23 The upper figure of £275/ft2 (£2,960/m

2) from the range recommended within the Market

Report has been adopted for GLH in Appraisal 3.

2.24 PBA previously sought to justify pricing and build costs held consistently at Q4 2014

within viability appraisals on the basis that prices had tracked and inflated above build

costs in the intervening period to Q1 20169.

2.25 On this basis, PBA’s justification is considered erroneous, for it is not comparing on a

like-for-like basis. IM and Turley maintain that PBA’s use of historic BCIS costs

represents a conservative construction cost at the lowest end of expectations.

Affordable Housing Sales Values (Items 1.2 – 1.4)

2.26 IM is liaising directly with RP Bromford with respect to the potential transfer of affordable

units at GLH. IM requested Bromford’s opinion on the affordable housing sales values

proposed within the EVS SCS (EBD2).

2.27 Bromford confirmed the following:

• Social Rent pricing is currently at 35%-40% of OMV

• Affordable Rent pricing is currently at 45%-50% of OMV

• Shared Ownership offers are up to 70% of OMV

2.28 They also noted that an OMV at £275/ft2 (£2,960/m

2) is at the top end of their

expectations for GLH.

9 PBA provided IM Properties with a Technical ‘Position Statement’ dated 27 April 2016 which sets out this

rationale. This does not appear to have been made available to the Examiner as part of the Examination Library. For full transparency and disclosure it is provided at Appendix 8.

10

2.29 The upper figures from the range of affordable pricing assumptions recommended by

Bromford have been adopted for GLH in Appraisal 3.

2.30 The correspondence from Bromford, dated 4 August 2016, is attached at Appendix 910

.

S106 & S278 Costs (Item 2.7.4)

2.31 IM has liaised closely with Council officers (with PBA representatives also in

attendance) to identify and seek to reach broad agreement on the scope and scale of

the S106 and S278 costs required at GLH. The last meeting between IM’s

representatives, the Council and PBA was held on 16 August 2016.

2.32 The current S106/S278 cost identified by IM for GLH stands at £40,067,700. This

represents a cost of £13,355.90 per unit on the basis of delivery of 3,000 units at GLH.

This cost has been adopted for GLH within Appraisal 3.

2.33 An itemised summary S106/S278 cost schedule, which has been agreed with the

Council, is provided at Appendix 10. It is understood that the Council will be issuing an

updated version of Table 2 of the Infrastructure Delivery Plan to dovetail with this as part

of its own evidence submitted to the Examination.

Conclusion

2.34 The combined impact of the refinements within Appraisal 3 reduces the RLV of GLH to

£674,913/net ha. When compared to the Threshold Land Value (TLV) of £640,000/net

ha, this leaves limited headroom of just £34,913/net ha, which equates to a marginal

buffer of 5% before any CIL is introduced. Should any CIL rate be applied, this would

further decrease this buffer and increase risk to deliverability. This is summarised in

Table 2.3 overleaf.

2.35 On this basis, and in light of the critical role that GLH is required to play in the delivery of

the adopted Core Strategy, it is strongly recommended that a nil CIL rate is applied

to GLH.

10

The correspondence is necessarily partially redacted to protect commercial sensitivities.

11

Table 2.3: GLH Viability Appraisal 3: Summary Methodology – Refined Appraisal

Net

Site

Area

Residual Land Value

(RLV) (3,000 Units)

Threshold

Land Value

(TLV)

RLV

'Headroom'

Above TLV

Buffer

Calculation

Methodology

Appraisal 3

Net Ha £ Total £/net ha £/net ha £/net ha Explanation

%

'Buffer'

CIL @ £NIL 75.34 £50,874,923 £674,913 £640,000 £34,913

Proposed CIL @ £NIL/sqm in cashflow as

development cost. Buffer directly equates to remaining

% headroom of RLV above TLV = 5%

Source: Turley

Appendix 1: National Nil or Negligible CIL Charging: Strategic Sites

Local authority CIL Charging

status

Date CIL Came in

to Effect

Residential CIL Rate:

Strategic Sites (£/m2)

Babergh Adopted 11-Apr-16 £0

BANES Adopted 06-Apr-15 £50

Birmingham Adopted 04-Jan-16 £0

Chesterfield Adopted 01-Apr-16 £0

Dacorum Adopted 01-Jul-15 £0

East Hampshire Adopted 08-Apr-16 £0

East Suffolk Adopted 13-Jul-15 £0

Gosport Adopted 01-Feb-16 £40

Hertsmere Adopted 01-Dec-14 £0

Mid Suffolk Adopted 11-Apr-16 £0

Lichfield Adopted 13-Jun-16 £14

Peterborough Adopted 24-Apr-15 £0

Rotherham Approved N/A £15

Shepway Adopted 01-Aug-16 £0

Solihull Adopted 04-Jul-16 £0

South Gloucestershire Adopted 01-Aug-15 £0

South Lakeland Adopted 01-Jun-15 £20

South Oxfordshire Adopted 01-Apr-16 £0

Surrey Heath Adopted 01-Dec-14 £0

Swindon Adopted 06-Apr-15 £0

Test Valley Adopted 01-Aug-16 £0

Waveney Adopted 01-Aug-13 £0

West Dorset and

Weymouth and Portland

Adopted 18-Jul-16 £0

Wiltshire Adopted 18-May-15 £40 - Charging Zone 1

£30 - Charging Zone 2

Winchester Adopted 07-Apr-14 £0

Appendix 2: Extract from Lichfield CIL Draft Charging Schedule Viability Report (January 2015) - PBA

Appendix 3: GLH Appraisal 1 – Corrected PC1E:

Gaydon-Lighthorn GLH 3,000 Units Appraisal 1

ITEM

Residual Value Technical Checks

Net Site Area (Ha) 75.34 Greenfield Strategic Site £920,218 per net ha 3236 3236

Stamp Duty New 3,198

Private Affordable Social Rent Affordable Rent Intermediate

Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%

1.0 Development Value

1.1 Private Units No. of units Size sq.m Total sq.m £psm Total Value Start Finish # of Months

Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750 Nov-17 Oct-34 204

2 bed house 682.50 70 47,775 £3,050 £145,713,750 Nov-17 Oct-34 204

3 bed house 780.00 80 62,400 £3,050 £190,320,000 Nov-17 Oct-34 204

4+ bed house 390.00 120 46,800 £3,050 £142,740,000 Nov-17 Oct-34 204

1,950.0 162,338

1.2 Social Rent No. of units Size sq.m Total sq.m % OMV £psm Total Value

Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981 Nov-17 Oct-34 204

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719 Nov-17 Oct-34 204

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250 Nov-17 Oct-34 204

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075 Nov-17 Oct-34 204

630.0 47,171

1.3 Affordable Rent No. of units Size sq.m Total sq.m % OMV £psm Total Value

Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881 Nov-17 Oct-34 204

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219 Nov-17 Oct-34 204

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250 Nov-17 Oct-34 204

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475 Nov-17 Oct-34 204

210.0 15,724

1.4 Intermediate No. of units Size sq.m Total sq.m £psm Total Value

Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769 Nov-17 Oct-34 204

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531 Nov-17 Oct-34 204

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750 Nov-17 Oct-34 204

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925 Nov-17 Oct-34 204

210.0 15,724

Gross Development Value £609,533,325

2.0 Development Costs

2.1 Site Acquisition

5.75%

2.1.1 Net site value (residual land value) 5.80% £69,329,248 May-17 Sep-26 113

6.79%

Purchaser Costs 6.79% 6.79% 4707455.93 May-17 Sep-26 113

Site Costs £74,036,704

2.3 Build Costs

2.3.1 Private Units No. of units Size sq.m Total sq.m Cost per sq.m Total Costs

Flats 97.50 65 6,338 £1,083 £6,863,513 May-17 Mar-34 203

2 bed house 682.50 70 47,775 £958 £45,768,450 May-17 Mar-34 203

3 bed house 780.00 80 62,400 £958 £59,779,200 May-17 Mar-34 203

4+ bed house 390.00 120 46,800 £958 £44,834,400 May-17 Mar-34 203

1,950.0 163,313

2.3.2 Affordable Units No. of units Size sq.m Total sq.m Cost per sq.m Total Costs

Flats 183.75 65 11,944 £1,083 £12,935,081 May-17 Mar-34 203

2 bed house 393.75 70 27,563 £958 £26,404,875 May-17 Mar-34 203

3 bed house 393.75 80 31,500 £958 £30,177,000 May-17 Mar-34 203

4+ bed house 78.75 120 9,450 £958 £9,053,100 May-17 Mar-34 203

1,050.0 80,456

2.3.3 Higher Housing Standard 2.50% build cost £5,895,390 May-17 Mar-34 203

3,000.00 £241,711,009

2.4 Extra Over Construction Costs

2.4.1 Externals 10% on build cost £24,171,100.92 May-17 Mar-34 203

2.4.2 Site Abnormals (remediation / demolition) £0 per net ha £0 May-17 Oct-26 114

2.4.3 Site Opening Up Costs £17,403 per unit £52,209,862 May-17 Oct-26 114

£0 May-17 Oct-26 114

£76,380,963

2.5 Professional Fees

2.5.1 12% on build costs (incl. externals and higher housing standard) £31,905,853.22

£31,905,853 May-17 Mar-34 203

2.6 Contingency


£13,294,106 May-17 Mar-34 203

2.7 Developer Contributions

2.7.1 Lifetime Homes £0 per unit £0.00 May-17 Mar-34 203

2.7.2 MOVED TO 2.3.3 May-17 Mar-34 203

2.7.3 CIL £0 per sqm (OM only) £0.00 May-17 Oct-26 114

2.7.4 S106 / S278 £12,377 per unit £37,130,565 May-17 Jun-26 110

2.7.5 £0 May-17 Mar-34 203

£37,130,565

2.8 Sale Cost

2.8.1 Private Units Only 3.00% on OM GDV £14,733,225

£14,733,225 Nov-17 Oct-34 204

TOTAL DEVELOPMENT COSTS (including land) £489,192,425

3.0 Developer's Profit

3.1 Private Units 20% on OM GDV £98,221,500 Nov-34 Dec-34 2

3.2 Affordable Units 6% on AH transfer values £7,105,550 Nov-34 Dec-34 2

£105,327,050

TOTAL PROJECT COSTS (EXCLUDING INTEREST) £594,519,474

TOTAL INCOME - TOTAL COSTS (EXCLUDING INTEREST) £15,013,851

4.0 Finance Costs

APR PCM Opening Balance

4.1 Finance 7.00% on net costs 0.565% -£15,013,851 Interest

Net Cashflow in month

Closing Balance

TOTAL PROJECT COSTS (INCLUDING INTEREST) £609,533,325

PROJECT BALANCE £0

Sqm/net ha

Timing


ITEM




CASHFLOW

Private Affordable Social Rent Affordable Rent Intermediate 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750 Nov-17 Oct-34 204 - - - - - - - - - - 60,460 60,460 60,460 60,460 60,460

2 bed house 682.50 70 47,775 £3,050 £145,713,750 Nov-17 Oct-34 204 - - - - - - - - - - 714,283 714,283 714,283 714,283 714,283

3 bed house 780.00 80 62,400 £3,050 £190,320,000 Nov-17 Oct-34 204 - - - - - - - - - - 932,941 932,941 932,941 932,941 932,941

4+ bed house 390.00 120 46,800 £3,050 £142,740,000 Nov-17 Oct-34 204 - - - - - - - - - - 699,706 699,706 699,706 699,706 699,706

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981 Nov-17 Oct-34 204 - - - - - - - - - - 30,765 30,765 30,765 30,765 30,765

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719 Nov-17 Oct-34 204 - - - - - - - - - - 111,263 111,263 111,263 111,263 111,263

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250 Nov-17 Oct-34 204 - - - - - - - - - - 127,158 127,158 127,158 127,158 127,158

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075 Nov-17 Oct-34 204 - - - - - - - - - - 38,147 38,147 38,147 38,147 38,147

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881 Nov-17 Oct-34 204 - - - - - - - - - - 12,534 12,534 12,534 12,534 12,534

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219 Nov-17 Oct-34 204 - - - - - - - - - - 45,330 45,330 45,330 45,330 45,330

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250 Nov-17 Oct-34 204 - - - - - - - - - - 51,805 51,805 51,805 51,805 51,805

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475 Nov-17 Oct-34 204 - - - - - - - - - - 15,542 15,542 15,542 15,542 15,542

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769 Nov-17 Oct-34 204 - - - - - - - - - - 14,813 14,813 14,813 14,813 14,813

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531 Nov-17 Oct-34 204 - - - - - - - - - - 53,571 53,571 53,571 53,571 53,571

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750 Nov-17 Oct-34 204 - - - - - - - - - - 61,224 61,224 61,224 61,224 61,224

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925 Nov-17 Oct-34 204 - - - - - - - - - - 18,367 18,367 18,367 18,367 18,367

210.0 15,724

Gross Development Value £609,533,325 - - - - - - - - - - 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908



5.75%

2.1.1 Net site value (residual land value) 5.80% £69,329,248 May-17 Sep-26 113 - - - - 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533

6.79%

Purchaser Costs 6.79% 6.79% 4707455.9 May-17 Sep-26 113 - - - - 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659

Site Costs £74,036,704 - - - - 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192

2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513 May-17 Mar-34 203 - - - - 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

2 bed house 682.50 70 47,775 £958 £45,768,450 May-17 Mar-34 203 - - - - 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

3 bed house 780.00 80 62,400 £958 £59,779,200 May-17 Mar-34 203 - - - - 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

4+ bed house 390.00 120 46,800 £958 £44,834,400 May-17 Mar-34 203 - - - - 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081 May-17 Mar-34 203 - - - - 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

2 bed house 393.75 70 27,563 £958 £26,404,875 May-17 Mar-34 203 - - - - 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

3 bed house 393.75 80 31,500 £958 £30,177,000 May-17 Mar-34 203 - - - - 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

4+ bed house 78.75 120 9,450 £958 £9,053,100 May-17 Mar-34 203 - - - - 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

1,050.0 80,456

2.3.3 Higher Housing Standard 2.50% build cost £5,895,390 May-17 Mar-34 203 - - - - 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

3,000.00 £241,711,009 - - - - 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695


2.4.1 Externals 10% on build cost £24,171,100.92 May-17 Mar-34 203 - - - - 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

2.4.2 Site Abnormals (remediation / demolition) £0 per net ha £0 May-17 Oct-26 114 - - - - - - - - - - - - - - -

2.4.3 Site Opening Up Costs £17,403 per unit £52,209,862 May-17 Oct-26 114 - - - - 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

£0 May-17 Oct-26 114 - - - - - - - - - - - - - - -

£76,380,963 - - - - 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051



£31,905,853 May-17 Mar-34 203 - - - - 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

2.6 Contingency


£13,294,106 May-17 Mar-34 203 - - - - 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488


2.7.1 Lifetime Homes £0 per unit £0.00 May-17 Mar-34 203 - - - - - - - - - - - - - - -

2.7.2 MOVED TO 2.3.3 May-17 Mar-34 203 - - - - - - - - - - - - - - -

2.7.3 CIL £0 per sqm (OM only) £0.00 May-17 Oct-26 114 - - - - - - - - - - - - - - -

2.7.4 S106 / S278 £12,377 per unit £37,130,565 May-17 Jun-26 110 - - - - - - - - - - - - - - -

2.7.5 £0 May-17 Mar-34 203 - - - - - - - - - - - - - - -

£37,130,565 - - - - - - - - - - - - - - -

2.8 Sale Cost


£14,733,225 Nov-17 Oct-34 204 - - - - - - - - - - 72,222 72,222 72,222 72,222 72,222

TOTAL DEVELOPMENT COSTS (including land) £489,192,425 - - - - 2,645,597 2,645,597 2,645,597 2,645,597 2,645,597 2,645,597 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819


3.1 Private Units 20% on OM GDV £98,221,500 Nov-34 Dec-34 2 - - - - - - - - - - - - - - -

3.2 Affordable Units 6% on AH transfer values £7,105,550 Nov-34 Dec-34 2 - - - - - - - - - - - - - - -

£105,327,050 - - - - - - - - - - - - - - -

TOTAL PROJECT COSTS (EXCLUDING INTEREST) £594,519,474 - - - - 2,645,597 2,645,597 2,645,597 2,645,597 2,645,597 2,645,597 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819

TOTAL INCOME - TOTAL COSTS (EXCLUDING INTEREST) £15,013,851 - - - - -2,645,597 -2,645,597 -2,645,597 -2,645,597 -2,645,597 -2,645,597 270,089 270,089 270,089 270,089 270,089

4.0 Finance Costs

APR PCM Opening Balance - - - - - -2,645,597 -5,306,153 -7,981,752 -10,672,480 -13,378,421 -16,099,661 -15,920,602 -15,740,530 -15,559,439 -15,377,325

4.1 Finance 7.00% on net costs 0.565% -£15,013,851 Interest - - - - - -14,959 -30,002 -45,130 -60,344 -75,644 -91,030 -90,017 -88,999 -87,975 -86,946

Net Cashflow in month - - - - -2,645,597 -2,645,597 -2,645,597 -2,645,597 -2,645,597 -2,645,597 270,089 270,089 270,089 270,089 270,089

Closing Balance - - - - -2,645,597 -5,306,153 -7,981,752 -10,672,480 -13,378,421 -16,099,661 -15,920,602 -15,740,530 -15,559,439 -15,377,325 -15,194,182

TOTAL PROJECT COSTS (INCLUDING INTEREST) £609,533,325 - - - - 2,645,597 2,660,556 2,675,599 2,690,727 2,705,941 2,721,241 2,808,849 2,807,836 2,806,818 2,805,794 2,804,765

PROJECT BALANCE £0

Sqm/net ha

Timing


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%


1.1 Private Units No. of units Size sq.m Total sq.m £psm Total Value

Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%

2.1.1 Net site value (residual land value) 5.80% £69,329,248

6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456

2.3.3 Higher Housing Standard 2.50% build cost £5,895,390

3,000.00 £241,711,009


2.4.1 Externals 10% on build cost £24,171,100.92

2.4.2 Site Abnormals (remediation / demolition) £0 per net ha £0

2.4.3 Site Opening Up Costs £17,403 per unit £52,209,862

£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106


2.7.1 Lifetime Homes £0 per unit £0.00

2.7.2 MOVED TO 2.3.3

2.7.3 CIL £0 per sqm (OM only) £0.00

2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225



3.1 Private Units 20% on OM GDV £98,221,500

3.2 Affordable Units 6% on AH transfer values £7,105,550

£105,327,050



4.0 Finance Costs

APR PCM

4.1 Finance 7.00% on net costs 0.565% -£15,013,851


PROJECT BALANCE £0

Sqm/net ha

16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34

Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533

41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659

655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819

270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089

-15,194,182 -15,010,002 -14,824,781 -14,638,513 -14,451,192 -14,262,812 -14,073,366 -13,882,850 -13,691,256 -13,498,579 -13,304,812 -13,109,950 -12,913,986 -12,716,914 -12,518,728 -12,319,422 -12,118,988 -11,917,421 -11,714,714

-85,910 -84,869 -83,821 -82,768 -81,709 -80,644 -79,573 -78,496 -77,412 -76,323 -75,227 -74,126 -73,018 -71,903 -70,783 -69,656 -68,523 -67,383 -66,237

270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089

-15,010,002 -14,824,781 -14,638,513 -14,451,192 -14,262,812 -14,073,366 -13,882,850 -13,691,256 -13,498,579 -13,304,812 -13,109,950 -12,913,986 -12,716,914 -12,518,728 -12,319,422 -12,118,988 -11,917,421 -11,714,714 -11,510,862

2,803,729 2,802,688 2,801,640 2,800,587 2,799,528 2,798,463 2,797,392 2,796,315 2,795,231 2,794,142 2,793,046 2,791,945 2,790,837 2,789,722 2,788,602 2,787,475 2,786,342 2,785,202 2,784,056


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53

Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533

41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659

655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - 1,010,000 4,020,565 - - - - 3,000,000 - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - 1,010,000 4,020,565 - - - - 3,000,000 - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 3,727,819 6,738,384 2,717,819 2,717,819 2,717,819 2,717,819 5,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 3,727,819 6,738,384 2,717,819 2,717,819 2,717,819 2,717,819 5,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819

270,089 270,089 270,089 270,089 270,089 270,089 -739,911 -3,750,476 270,089 270,089 270,089 270,089 -2,729,911 270,089 270,089 270,089 270,089 270,089 270,089

-11,510,862 -11,305,856 -11,099,692 -10,892,361 -10,683,859 -10,474,178 -10,263,311 -11,061,251 -14,874,269 -14,688,281 -14,501,241 -14,313,144 -14,123,983 -16,933,752 -16,759,409 -16,584,079 -16,407,759 -16,230,441 -16,052,121

-65,084 -63,925 -62,759 -61,587 -60,408 -59,223 -58,030 -62,542 -84,101 -83,050 -81,992 -80,929 -79,859 -95,746 -94,760 -93,769 -92,772 -91,769 -90,761

270,089 270,089 270,089 270,089 270,089 270,089 -739,911 -3,750,476 270,089 270,089 270,089 270,089 -2,729,911 270,089 270,089 270,089 270,089 270,089 270,089

-11,305,856 -11,099,692 -10,892,361 -10,683,859 -10,474,178 -10,263,311 -11,061,251 -14,874,269 -14,688,281 -14,501,241 -14,313,144 -14,123,983 -16,933,752 -16,759,409 -16,584,079 -16,407,759 -16,230,441 -16,052,121 -15,872,793

2,782,903 2,781,744 2,780,578 2,779,406 2,778,227 2,777,042 3,785,849 6,800,926 2,801,920 2,800,869 2,799,811 2,798,748 5,797,678 2,813,565 2,812,579 2,811,588 2,810,591 2,809,588 2,808,580


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72

Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533

41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659

655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - 2,300,000 -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - 2,300,000 -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 5,017,819 2,717,819

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 5,017,819 2,717,819

270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 -2,029,911 270,089

-15,872,793 -15,692,450 -15,511,088 -15,328,701 -15,145,282 -14,960,826 -14,775,327 -14,588,780 -14,401,177 -14,212,514 -14,022,784 -13,831,982 -13,640,100 -13,447,134 -13,253,076 -13,057,922 -12,861,664 -12,664,296 -14,765,812

-89,747 -88,727 -87,702 -86,671 -85,634 -84,591 -83,542 -82,487 -81,426 -80,360 -79,287 -78,208 -77,123 -76,032 -74,935 -73,831 -72,722 -71,606 -83,488

270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 -2,029,911 270,089

-15,692,450 -15,511,088 -15,328,701 -15,145,282 -14,960,826 -14,775,327 -14,588,780 -14,401,177 -14,212,514 -14,022,784 -13,831,982 -13,640,100 -13,447,134 -13,253,076 -13,057,922 -12,861,664 -12,664,296 -14,765,812 -14,579,211

2,807,566 2,806,546 2,805,521 2,804,490 2,803,453 2,802,410 2,801,361 2,800,306 2,799,245 2,798,179 2,797,106 2,796,027 2,794,942 2,793,851 2,792,754 2,791,650 2,790,541 5,089,425 2,801,307


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91

Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533

41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659

655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - 1,060,000 12,420,000 - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - 1,060,000 12,420,000 - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 3,777,819 15,137,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 3,777,819 15,137,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819

270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 -789,911 -12,149,911 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089

-14,579,211 -14,391,554 -14,202,837 -14,013,052 -13,822,195 -13,630,258 -13,437,236 -13,243,122 -13,047,912 -12,851,597 -13,714,172 -25,941,625 -25,818,213 -25,694,103 -25,569,292 -25,443,775 -25,317,548 -25,190,608 -25,062,950

-82,433 -81,372 -80,305 -79,232 -78,153 -77,067 -75,976 -74,879 -73,775 -72,665 -77,542 -146,678 -145,980 -145,278 -144,572 -143,863 -143,149 -142,431 -141,710

270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 -789,911 -12,149,911 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089

-14,391,554 -14,202,837 -14,013,052 -13,822,195 -13,630,258 -13,437,236 -13,243,122 -13,047,912 -12,851,597 -13,714,172 -25,941,625 -25,818,213 -25,694,103 -25,569,292 -25,443,775 -25,317,548 -25,190,608 -25,062,950 -24,934,570

2,800,252 2,799,191 2,798,124 2,797,051 2,795,972 2,794,886 2,793,795 2,792,698 2,791,594 3,850,484 15,215,361 2,864,497 2,863,799 2,863,097 2,862,391 2,861,682 2,860,968 2,860,250 2,859,529


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110

Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533 613,533

41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659 41,659

655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192 655,192

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - 9,700,000 - - - - - - - - - - - 2,900,000 - - -

- - - - - - - - - - - - - - - - - - -

- - - 9,700,000 - - - - - - - - - - - 2,900,000 - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,819 2,717,819 2,717,819 12,417,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 5,617,819 2,717,819 2,717,819 2,717,819

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

2,717,819 2,717,819 2,717,819 12,417,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 5,617,819 2,717,819 2,717,819 2,717,819

270,089 270,089 270,089 -9,429,911 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 -2,629,911 270,089 270,089 270,089

-24,934,570 -24,805,464 -24,675,629 -24,545,059 -34,113,751 -34,036,545 -33,958,903 -33,880,822 -33,802,300 -33,723,334 -33,643,921 -33,564,059 -33,483,746 -33,402,978 -33,321,754 -33,240,070 -36,057,925 -35,991,713 -35,925,125

-140,984 -140,254 -139,520 -138,781 -192,884 -192,448 -192,009 -191,567 -191,123 -190,677 -190,228 -189,776 -189,322 -188,865 -188,406 -187,944 -203,877 -203,502 -203,126

270,089 270,089 270,089 -9,429,911 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 270,089 -2,629,911 270,089 270,089 270,089

-24,805,464 -24,675,629 -24,545,059 -34,113,751 -34,036,545 -33,958,903 -33,880,822 -33,802,300 -33,723,334 -33,643,921 -33,564,059 -33,483,746 -33,402,978 -33,321,754 -33,240,070 -36,057,925 -35,991,713 -35,925,125 -35,858,162

2,858,803 2,858,073 2,857,339 12,556,600 2,910,703 2,910,267 2,909,828 2,909,386 2,908,942 2,908,496 2,908,047 2,907,595 2,907,141 2,906,684 2,906,225 5,805,763 2,921,696 2,921,321 2,920,945


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129

Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 Jan-27 Feb-27 Mar-27 Apr-27 May-27 Jun-27 Jul-27 Aug-27 Sep-27

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

613,533 613,533 613,533 613,533 613,533 613,533 613,533 - - - - - - - - - - - -

41,659 41,659 41,659 41,659 41,659 41,659 41,659 - - - - - - - - - - - -

655,192 655,192 655,192 655,192 655,192 655,192 655,192 - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,062,627 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,717,819 2,062,627 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

270,089 270,089 270,089 270,089 270,089 270,089 270,089 925,282 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

-35,858,162 -35,790,820 -35,723,097 -35,654,991 -35,586,500 -35,517,622 -35,448,354 -35,378,695 -34,653,449 -33,466,122 -32,272,082 -31,071,290 -29,863,709 -28,649,300 -27,428,024 -26,199,844 -24,964,719 -23,722,610 -22,473,478

-202,747 -202,366 -201,984 -201,599 -201,211 -200,822 -200,430 -200,036 -195,936 -189,222 -182,471 -175,682 -168,854 -161,987 -155,082 -148,138 -141,154 -134,131 -127,068

270,089 270,089 270,089 270,089 270,089 270,089 270,089 925,282 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

-35,790,820 -35,723,097 -35,654,991 -35,586,500 -35,517,622 -35,448,354 -35,378,695 -34,653,449 -33,466,122 -32,272,082 -31,071,290 -29,863,709 -28,649,300 -27,428,024 -26,199,844 -24,964,719 -23,722,610 -22,473,478 -21,217,284

2,920,566 2,920,185 2,919,803 2,919,417 2,919,030 2,918,641 2,918,249 2,262,663 1,800,581 1,793,868 1,787,117 1,780,327 1,773,499 1,766,633 1,759,728 1,752,783 1,745,800 1,738,777 1,731,714


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148

Oct-27 Nov-27 Dec-27 Jan-28 Feb-28 Mar-28 Apr-28 May-28 Jun-28 Jul-28 Aug-28 Sep-28 Oct-28 Nov-28 Dec-28 Jan-29 Feb-29 Mar-29 Apr-29

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

-21,217,284 -19,953,987 -18,683,547 -17,405,923 -16,121,076 -14,828,964 -13,529,547 -12,222,782 -10,908,628 -9,587,045 -8,257,988 -6,921,417 -5,577,289 -4,225,561 -2,866,191 -1,499,134 -124,347 1,258,213 2,641,475

-119,966 -112,823 -105,639 -98,416 -91,151 -83,845 -76,498 -69,109 -61,679 -54,207 -46,692 -39,135 -31,535 -23,892 -16,206 -8,476 -703 - -

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

-19,953,987 -18,683,547 -17,405,923 -16,121,076 -14,828,964 -13,529,547 -12,222,782 -10,908,628 -9,587,045 -8,257,988 -6,921,417 -5,577,289 -4,225,561 -2,866,191 -1,499,134 -124,347 1,258,213 2,641,475 4,024,738

1,724,611 1,717,468 1,710,285 1,703,061 1,695,797 1,688,491 1,681,144 1,673,755 1,666,325 1,658,852 1,651,338 1,643,780 1,636,180 1,628,538 1,620,852 1,613,122 1,605,349 1,604,646 1,604,646


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167

May-29 Jun-29 Jul-29 Aug-29 Sep-29 Oct-29 Nov-29 Dec-29 Jan-30 Feb-30 Mar-30 Apr-30 May-30 Jun-30 Jul-30 Aug-30 Sep-30 Oct-30 Nov-30

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - 720,000 - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - 720,000 - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 2,324,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 2,324,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 663,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

4,024,738 5,408,001 6,791,264 8,174,526 9,557,789 10,941,052 12,324,315 12,987,578 14,370,840 15,754,103 17,137,366 18,520,629 19,903,891 21,287,154 22,670,417 24,053,680 25,436,943 26,820,205 28,203,468

- - - - - - - - - - - - - - - - - - -

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 663,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

5,408,001 6,791,264 8,174,526 9,557,789 10,941,052 12,324,315 12,987,578 14,370,840 15,754,103 17,137,366 18,520,629 19,903,891 21,287,154 22,670,417 24,053,680 25,436,943 26,820,205 28,203,468 29,586,731

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 2,324,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186

Dec-30 Jan-31 Feb-31 Mar-31 Apr-31 May-31 Jun-31 Jul-31 Aug-31 Sep-31 Oct-31 Nov-31 Dec-31 Jan-32 Feb-32 Mar-32 Apr-32 May-32 Jun-32

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

29,586,731 30,969,994 32,353,257 33,736,519 35,119,782 36,503,045 37,886,308 39,269,570 40,652,833 42,036,096 43,419,359 44,802,622 46,185,884 47,569,147 48,952,410 50,335,673 51,718,935 53,102,198 54,485,461

- - - - - - - - - - - - - - - - - - -

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

30,969,994 32,353,257 33,736,519 35,119,782 36,503,045 37,886,308 39,269,570 40,652,833 42,036,096 43,419,359 44,802,622 46,185,884 47,569,147 48,952,410 50,335,673 51,718,935 53,102,198 54,485,461 55,868,724

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205

Jul-32 Aug-32 Sep-32 Oct-32 Nov-32 Dec-32 Jan-33 Feb-33 Mar-33 Apr-33 May-33 Jun-33 Jul-33 Aug-33 Sep-33 Oct-33 Nov-33 Dec-33 Jan-34

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

55,868,724 57,251,987 58,635,249 60,018,512 61,401,775 62,785,038 64,168,300 65,551,563 66,934,826 68,318,089 69,701,352 71,084,614 72,467,877 73,851,140 75,234,403 76,617,665 78,000,928 79,384,191 80,767,454

- - - - - - - - - - - - - - - - - - -

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

57,251,987 58,635,249 60,018,512 61,401,775 62,785,038 64,168,300 65,551,563 66,934,826 68,318,089 69,701,352 71,084,614 72,467,877 73,851,140 75,234,403 76,617,665 78,000,928 79,384,191 80,767,454 82,150,717

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 97.50 55 5,363 £2,300 £12,333,750

2 bed house 682.50 70 47,775 £3,050 £145,713,750

3 bed house 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 390.00 120 46,800 £3,050 £142,740,000

1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 4707455.9


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£37,130,565

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

206 207 208 209 210 211 212 213 214 215 216

Feb-34 Mar-34 Apr-34 May-34 Jun-34 Jul-34 Aug-34 Sep-34 Oct-34 Nov-34 Dec-34

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 - -

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 - -

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 - -

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 - -

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 - -

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 - -

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 - -

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 - -

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 - -

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 - -

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 - -

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 - -

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 - -

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 - -

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 - -

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 - -

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 - -

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

33,810 33,810 - - - - - - - - -

225,460 225,460 - - - - - - - - -

294,479 294,479 - - - - - - - - -

220,859 220,859 - - - - - - - - -

63,720 63,720 - - - - - - - - -

130,073 130,073 - - - - - - - - -

148,655 148,655 - - - - - - - - -

44,597 44,597 - - - - - - - - -

29,041 29,041 - - - - - - - - -

1,190,695 1,190,695 - - - - - - - - -

119,069 119,069 - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

119,069 119,069 - - - - - - - - -

157,172 157,172 - - - - - - - - -

65,488 65,488 - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 - -

1,604,646 1,604,646 72,222 72,222 72,222 72,222 72,222 72,222 72,222 - -

- - - - - - - - - 49,110,750 49,110,750

- - - - - - - - - 3,552,775 3,552,775

- - - - - - - - - 52,663,525 52,663,525

1,604,646 1,604,646 72,222 72,222 72,222 72,222 72,222 72,222 72,222 52,663,525 52,663,525

1,383,263 1,383,263 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687 -52,663,525 -52,663,525

82,150,717 83,533,979 84,917,242 87,832,929 90,748,616 93,664,302 96,579,989 99,495,676 102,411,363 105,327,050 52,663,525

- - - - - - - - - - -

1,383,263 1,383,263 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687 -52,663,525 -52,663,525

83,533,979 84,917,242 87,832,929 90,748,616 93,664,302 96,579,989 99,495,676 102,411,363 105,327,050 52,663,525 -

1,604,646 1,604,646 72,222 72,222 72,222 72,222 72,222 72,222 72,222 52,663,525 52,663,525

Appendix 4: Redacted Letter from PBA

C:\Users\mspilsbury\Desktop\Projects\IM - Gaydon\Examination Preparation\Written Statement\Appendix 3 - PBA Letter.docx Registered Office: Caversham Bridge House, Waterman Place, Reading, Berkshire, RG1 8DN. UK. T: +44 (0)118 950 0761 F: +44 (0)118 959 7498 Peter Brett Associates LLP is a limited liability partnership and is registered in England and Wales with registered number OC334398. A list of members’ names is open to inspection at our registered office.

www.peterbrett.com

19 July 2016 Mr Matthew Spilsbury Turley Associates Ltd, 1 New York Street, Manchester, M1 4HD

Dear Matthew RE: GOSDEN HILL, GUILDFORD – Emerging Guildford Community Infrastructure Levy (CIL) I write further to the meeting between yourselves and PBA on the 7th June 2016, and the letter received from you dated 17th June 2016.

At the meeting, and subsequently in your letter, you requested information regarding timeframes for the CIL’s adoption. PBA understand that Guildford Borough Council have now commenced its Regulation 19 consultation on its Proposed Submission Local Plan on 6 June, of which the closing date for responses was on the 18th July. Guildford Borough Council had to delay their second CIL PDC schedule consultation, and are now proposing to consult on a second Preliminary Draft Charging Schedule in October 2016. We are therefore looking to finalise our Viability study in August 2016.

As this consultation will be on a second Preliminary Draft Charging Schedule, followed by a Draft Charging Schedule consultation, there will be more time for further comments on the Council’s initial proposals to be taken in account before the CIL Charging Schedule is submitted for independent examination. As you and the Council continue to identify and cost the infrastructure needed to support delivery of your site, this can inform the Council’s Draft Charging Schedule. Below sets out, and seeks to address, the 5 issues identified in your letter dated the 17th June: Q1: No allowance is made by PBA for the cost of constructing community buildings PBA have not been provided a cost for community buildings, and have therefore not specifically referenced this in the appraisal. If you are able to provide a figure for this, PBA would be happy to include these into our appraisal and reconsider how this would change or affect the assumed s106 allowance in the appraisal. Q2: No allowance is made by PBA for necessary Merrow Lane / New Inn Lane railway bridge improvement works An allowance for £10m has already been made as part of the S106 package for Merrow Lane / New Inn Lane railway bridge improvement works should it be necessary (see LRN6 “Interventions

Peter Brett Associates LLP

10 Queen Square Bristol BS1 4NT T: +44 (0)117 332 7840 F: E: [email protected]

C:\Users\mspilsbury\Desktop\Projects\IM - Gaydon\Examination Preparation\Written Statement\Appendix 3 - PBA Letter.docx

2

to address potential highway performance issues resulting from development at Gosden Hill Farm site” in the Local Plan Appendix C “Infrastructure Schedule”). Q3: Insufficient allowance is presently made by PBA for ‘opening up costs’ at a notional £10,000 per unit. This will not appropriately reflect the cost of drainage, utilities, archaeology, ecology, landscaping / open space, earthworks and ground remodelling at Gosden Hill In the absence of any costings provided from you, we have based the figure of £10,000 per unit from knowledge acquired from previous viability studies and for similar sites. As we have been requesting, it would be useful to the process if you could advise and explain what additional sum you consider should be included for opening up costs on Gosden Hill along with evidence and/or rationale. Q4: No allowance is made for abnormal construction costs despite specific reference being made in PBA’s Guildford Development Viability Study 2014 (see footnote 37 on page 33) to these costs being expected. An appropriate cost allowance should be reflected within the strategic site appraisals to avoid substantial underestimation of costs As shall be set out in the report currently being prepared for the council, our approach to Whole Plan and CIL Viability testing considers abnormal costs to be an additional cost involved in brownfield developments, given their association with demolition, clearing and contaminated land remediation. As we understand Gosden Hill site is a greenfield site, so we have assumed that these specific costs would not apply. However, where there are specific abnormal costs on greenfield sites, then we would expect this to be reflected in the land value. Similar to the response for Q3, if you have evidence of significant abnormal costs it would be useful to our appraisal if you could submit these to us. Q5: The PBA methodology presently calculates the available CIL ‘overage’ outside of the residual appraisal model. However, once adopted CIL will become a fixed cost. Excluding CIL from the viability appraisals fails to recognise the cashflow and development finance implications of incurred liability appropriately. Our methodology accords with the Harman Report, and has been accepted by independent examiners at various CIL examinations. However, we accept this point. In our report to the council, we shall show re-introduce CIL into the appraisal, as you set out above, to ensure further accuracy. We trust that this answers your questions set out in your letter, however please get in touch should you wish to discuss matters further. Yours sincerely

Russell Porter For and on behalf of PETER BRETT ASSOCIATES LLP

Appendix 5: Appraisal 2 – Corrected PC1E: GLH with CIL as Development Cost


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750 Nov-17 Oct-34 204

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750 Nov-17 Oct-34 204

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000 Nov-17 Oct-34 204

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000 Nov-17 Oct-34 204

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981 Nov-17 Oct-34 204

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719 Nov-17 Oct-34 204

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250 Nov-17 Oct-34 204

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075 Nov-17 Oct-34 204

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881 Nov-17 Oct-34 204

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219 Nov-17 Oct-34 204

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250 Nov-17 Oct-34 204

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475 Nov-17 Oct-34 204

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769 Nov-17 Oct-34 204

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531 Nov-17 Oct-34 204

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750 Nov-17 Oct-34 204

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925 Nov-17 Oct-34 204

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513 May-17 Mar-34 203

2 bed house 682.50 70 47,775 £958 £45,768,450 May-17 Mar-34 203

3 bed house 780.00 80 62,400 £958 £59,779,200 May-17 Mar-34 203

4+ bed house 390.00 120 46,800 £958 £44,834,400 May-17 Mar-34 203

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081 May-17 Mar-34 203

2 bed house 393.75 70 27,563 £958 £26,404,875 May-17 Mar-34 203

3 bed house 393.75 80 31,500 £958 £30,177,000 May-17 Mar-34 203

4+ bed house 78.75 120 9,450 £958 £9,053,100 May-17 Mar-34 203

1,050.0 80,456


3,000.00 £241,711,009





£0 May-17 Oct-26 114

£76,380,963



£31,905,853 May-17 Mar-34 203

2.6 Contingency


£13,294,106 May-17 Mar-34 203



2.7.2 MOVED TO 2.3.3 May-17 Mar-34 203

2.7.3 CIL £77 per sqm (OM only) £12,575,062.50 May-17 Oct-26 114

2.7.4 S106 / S278 £12,377 per unit £37,130,565 May-17 Jun-26 110

2.7.5 £0 May-17 Mar-34 203

£49,705,628

2.8 Sale Cost


£14,733,225 Nov-17 Oct-34 204





£105,327,050



4.0 Finance Costs




Closing Balance


PROJECT BALANCE £0

Sqm/net ha

Timing


ITEM




CASHFLOW

Private Affordable Social Rent Affordable Rent Intermediate 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750 Nov-17 Oct-34 204 - - - - - - - - - - 60,460 60,460 60,460 60,460 60,460

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750 Nov-17 Oct-34 204 - - - - - - - - - - 714,283 714,283 714,283 714,283 714,283

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000 Nov-17 Oct-34 204 - - - - - - - - - - 932,941 932,941 932,941 932,941 932,941

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000 Nov-17 Oct-34 204 - - - - - - - - - - 699,706 699,706 699,706 699,706 699,706

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981 Nov-17 Oct-34 204 - - - - - - - - - - 30,765 30,765 30,765 30,765 30,765

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719 Nov-17 Oct-34 204 - - - - - - - - - - 111,263 111,263 111,263 111,263 111,263

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250 Nov-17 Oct-34 204 - - - - - - - - - - 127,158 127,158 127,158 127,158 127,158

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075 Nov-17 Oct-34 204 - - - - - - - - - - 38,147 38,147 38,147 38,147 38,147

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881 Nov-17 Oct-34 204 - - - - - - - - - - 12,534 12,534 12,534 12,534 12,534

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219 Nov-17 Oct-34 204 - - - - - - - - - - 45,330 45,330 45,330 45,330 45,330

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250 Nov-17 Oct-34 204 - - - - - - - - - - 51,805 51,805 51,805 51,805 51,805

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475 Nov-17 Oct-34 204 - - - - - - - - - - 15,542 15,542 15,542 15,542 15,542

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769 Nov-17 Oct-34 204 - - - - - - - - - - 14,813 14,813 14,813 14,813 14,813

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531 Nov-17 Oct-34 204 - - - - - - - - - - 53,571 53,571 53,571 53,571 53,571

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750 Nov-17 Oct-34 204 - - - - - - - - - - 61,224 61,224 61,224 61,224 61,224

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925 Nov-17 Oct-34 204 - - - - - - - - - - 18,367 18,367 18,367 18,367 18,367

210.0 15,724

Gross Development Value £609,533,325 - - - - - - - - - - 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908



5.75%

2.1.1 Net site value (residual land value) 5.80% £57,583,385 May-17 Sep-26 113 - - - - 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587

6.79%

Purchaser Costs 6.79% 6.79% 3909911.8 May-17 Sep-26 113 - - - - 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601

Site Costs £61,493,296 - - - - 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188

2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513 May-17 Mar-34 203 - - - - 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

2 bed house 682.50 70 47,775 £958 £45,768,450 May-17 Mar-34 203 - - - - 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

3 bed house 780.00 80 62,400 £958 £59,779,200 May-17 Mar-34 203 - - - - 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

4+ bed house 390.00 120 46,800 £958 £44,834,400 May-17 Mar-34 203 - - - - 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081 May-17 Mar-34 203 - - - - 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

2 bed house 393.75 70 27,563 £958 £26,404,875 May-17 Mar-34 203 - - - - 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

3 bed house 393.75 80 31,500 £958 £30,177,000 May-17 Mar-34 203 - - - - 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

4+ bed house 78.75 120 9,450 £958 £9,053,100 May-17 Mar-34 203 - - - - 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

1,050.0 80,456

2.3.3 Higher Housing Standard 2.50% build cost £5,895,390 May-17 Mar-34 203 - - - - 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

3,000.00 £241,711,009 - - - - 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695


2.4.1 Externals 10% on build cost £24,171,100.92 May-17 Mar-34 203 - - - - 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

2.4.2 Site Abnormals (remediation / demolition) £0 per net ha £0 May-17 Oct-26 114 - - - - - - - - - - - - - - -

2.4.3 Site Opening Up Costs £17,403 per unit £52,209,862 May-17 Oct-26 114 - - - - 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

£0 May-17 Oct-26 114 - - - - - - - - - - - - - - -

£76,380,963 - - - - 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051



£31,905,853 May-17 Mar-34 203 - - - - 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

2.6 Contingency


£13,294,106 May-17 Mar-34 203 - - - - 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488


2.7.1 Lifetime Homes £0 per unit £0.00 May-17 Mar-34 203 - - - - - - - - - - - - - - -

2.7.2 MOVED TO 2.3.3 May-17 Mar-34 203 - - - - - - - - - - - - - - -

2.7.3 CIL £77 per sqm (OM only) £12,575,062.50 May-17 Oct-26 114 - - - - 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

2.7.4 S106 / S278 £12,377 per unit £37,130,565 May-17 Jun-26 110 - - - - - - - - - - - - - - -

2.7.5 £0 May-17 Mar-34 203 - - - - - - - - - - - - - - -

£49,705,628 - - - - 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

2.8 Sale Cost


£14,733,225 Nov-17 Oct-34 204 - - - - - - - - - - 72,222 72,222 72,222 72,222 72,222

TOTAL DEVELOPMENT COSTS (including land) £489,224,080 - - - - 2,644,901 2,644,901 2,644,901 2,644,901 2,644,901 2,644,901 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123


3.1 Private Units 20% on OM GDV £98,221,500 Nov-34 Dec-34 2 - - - - - - - - - - - - - - -

3.2 Affordable Units 6% on AH transfer values £7,105,550 Nov-34 Dec-34 2 - - - - - - - - - - - - - - -

£105,327,050 - - - - - - - - - - - - - - -

TOTAL PROJECT COSTS (EXCLUDING INTEREST) £594,551,129 - - - - 2,644,901 2,644,901 2,644,901 2,644,901 2,644,901 2,644,901 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123

TOTAL INCOME - TOTAL COSTS (EXCLUDING INTEREST) £14,982,196 - - - - -2,644,901 -2,644,901 -2,644,901 -2,644,901 -2,644,901 -2,644,901 270,786 270,786 270,786 270,786 270,786

4.0 Finance Costs

APR PCM Opening Balance - - - - - -2,644,901 -5,304,757 -7,979,652 -10,669,672 -13,374,901 -16,095,426 -15,915,646 -15,734,850 -15,553,032 -15,370,185

4.1 Finance 7.00% on net costs 0.565% -£14,982,196 Interest - - - - - -14,955 -29,994 -45,118 -60,328 -75,624 -91,006 -89,989 -88,967 -87,939 -86,905

Net Cashflow in month - - - - -2,644,901 -2,644,901 -2,644,901 -2,644,901 -2,644,901 -2,644,901 270,786 270,786 270,786 270,786 270,786

Closing Balance - - - - -2,644,901 -5,304,757 -7,979,652 -10,669,672 -13,374,901 -16,095,426 -15,915,646 -15,734,850 -15,553,032 -15,370,185 -15,186,305

TOTAL PROJECT COSTS (INCLUDING INTEREST) £609,533,325 - - - - 2,644,901 2,659,856 2,674,895 2,690,019 2,705,229 2,720,525 2,808,129 2,807,112 2,806,090 2,805,062 2,804,028

PROJECT BALANCE £0

Sqm/net ha

Timing


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3

2.7.3 CIL £77 per sqm (OM only) £12,575,062.50

2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33

Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587

34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601

544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123

270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786

-15,186,305 -15,001,385 -14,815,420 -14,628,403 -14,440,328 -14,251,190 -14,060,983 -13,869,700 -13,677,336 -13,483,884 -13,289,339 -13,093,693 -12,896,941 -12,699,077 -12,500,094 -12,299,986 -12,098,746 -11,896,369

-85,866 -84,820 -83,769 -82,711 -81,648 -80,578 -79,503 -78,421 -77,334 -76,240 -75,140 -74,034 -72,921 -71,802 -70,677 -69,546 -68,408 -67,264

270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786

-15,001,385 -14,815,420 -14,628,403 -14,440,328 -14,251,190 -14,060,983 -13,869,700 -13,677,336 -13,483,884 -13,289,339 -13,093,693 -12,896,941 -12,699,077 -12,500,094 -12,299,986 -12,098,746 -11,896,369 -11,692,847

2,802,989 2,801,943 2,800,891 2,799,834 2,798,771 2,797,701 2,796,626 2,795,544 2,794,457 2,793,363 2,792,263 2,791,157 2,790,044 2,788,925 2,787,800 2,786,669 2,785,531 2,784,387


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51

Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587

34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601

544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

- - - - - - - 1,010,000 4,020,565 - - - - 3,000,000 - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 1,120,308 4,130,873 110,308 110,308 110,308 110,308 3,110,308 110,308 110,308 110,308 110,308

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 3,727,123 6,737,688 2,717,123 2,717,123 2,717,123 2,717,123 5,717,123 2,717,123 2,717,123 2,717,123 2,717,123

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 3,727,123 6,737,688 2,717,123 2,717,123 2,717,123 2,717,123 5,717,123 2,717,123 2,717,123 2,717,123 2,717,123

270,786 270,786 270,786 270,786 270,786 270,786 270,786 -739,214 -3,749,779 270,786 270,786 270,786 270,786 -2,729,214 270,786 270,786 270,786 270,786

-11,692,847 -11,488,175 -11,282,345 -11,075,351 -10,867,187 -10,657,847 -10,447,322 -10,235,607 -11,032,695 -14,844,855 -14,658,005 -14,470,098 -14,281,128 -14,091,090 -16,899,978 -16,724,747 -16,548,526 -16,371,308

-66,113 -64,956 -63,792 -62,622 -61,445 -60,261 -59,071 -57,874 -62,380 -83,935 -82,878 -81,816 -80,748 -79,673 -95,555 -94,564 -93,568 -92,566

270,786 270,786 270,786 270,786 270,786 270,786 270,786 -739,214 -3,749,779 270,786 270,786 270,786 270,786 -2,729,214 270,786 270,786 270,786 270,786

-11,488,175 -11,282,345 -11,075,351 -10,867,187 -10,657,847 -10,447,322 -10,235,607 -11,032,695 -14,844,855 -14,658,005 -14,470,098 -14,281,128 -14,091,090 -16,899,978 -16,724,747 -16,548,526 -16,371,308 -16,193,089

2,783,236 2,782,079 2,780,915 2,779,745 2,778,568 2,777,384 2,776,194 3,784,997 6,800,068 2,801,058 2,800,001 2,798,939 2,797,871 5,796,796 2,812,678 2,811,687 2,810,691 2,809,689


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587

34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601

544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123

270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786

-16,193,089 -16,013,861 -15,833,620 -15,652,360 -15,470,076 -15,286,760 -15,102,408 -14,917,014 -14,730,571 -14,543,075 -14,354,518 -14,164,895 -13,974,200 -13,782,426 -13,589,569 -13,395,621 -13,200,576 -13,004,428

-91,558 -90,545 -89,526 -88,501 -87,470 -86,434 -85,391 -84,343 -83,289 -82,229 -81,163 -80,090 -79,012 -77,928 -76,837 -75,741 -74,638 -73,529

270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786

-16,013,861 -15,833,620 -15,652,360 -15,470,076 -15,286,760 -15,102,408 -14,917,014 -14,730,571 -14,543,075 -14,354,518 -14,164,895 -13,974,200 -13,782,426 -13,589,569 -13,395,621 -13,200,576 -13,004,428 -12,807,172

2,808,681 2,807,668 2,806,649 2,805,624 2,804,593 2,803,557 2,802,514 2,801,466 2,800,412 2,799,352 2,798,285 2,797,213 2,796,135 2,795,051 2,793,960 2,792,864 2,791,761 2,790,652


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587

34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601

544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

- 2,300,000 - - - - - - - - - - 1,060,000 12,420,000 - - - -

- - - - - - - - - - - - - - - - - -

110,308 2,410,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 1,170,308 12,530,308 110,308 110,308 110,308 110,308

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,123 5,017,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 3,777,123 15,137,123 2,717,123 2,717,123 2,717,123 2,717,123

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,717,123 5,017,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 3,777,123 15,137,123 2,717,123 2,717,123 2,717,123 2,717,123

270,786 -2,029,214 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 -789,214 -12,149,214 270,786 270,786 270,786 270,786

-12,807,172 -12,608,800 -14,709,306 -14,521,690 -14,333,012 -14,143,267 -13,952,450 -13,760,553 -13,567,572 -13,373,500 -13,178,330 -12,982,057 -12,784,673 -13,646,174 -25,872,546 -25,748,048 -25,622,846 -25,496,935

-72,414 -71,292 -83,169 -82,108 -81,041 -79,968 -78,889 -77,804 -76,713 -75,616 -74,512 -73,402 -72,286 -77,157 -146,287 -145,583 -144,875 -144,163

270,786 -2,029,214 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 -789,214 -12,149,214 270,786 270,786 270,786 270,786

-12,608,800 -14,709,306 -14,521,690 -14,333,012 -14,143,267 -13,952,450 -13,760,553 -13,567,572 -13,373,500 -13,178,330 -12,982,057 -12,784,673 -13,646,174 -25,872,546 -25,748,048 -25,622,846 -25,496,935 -25,370,313

2,789,537 5,088,415 2,800,292 2,799,231 2,798,164 2,797,091 2,796,012 2,794,927 2,793,836 2,792,739 2,791,635 2,790,525 3,849,409 15,214,280 2,863,410 2,862,706 2,861,998 2,861,286


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587

34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601

544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

- - - - - - - 9,700,000 - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 9,810,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 12,417,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 12,417,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123

270,786 270,786 270,786 270,786 270,786 270,786 270,786 -9,429,214 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786

-25,370,313 -25,242,975 -25,114,917 -24,986,135 -24,856,625 -24,726,382 -24,595,403 -24,463,684 -34,031,220 -33,952,851 -33,874,040 -33,794,784 -33,715,079 -33,634,923 -33,554,314 -33,473,250 -33,391,727 -33,309,743

-143,447 -142,727 -142,003 -141,275 -140,543 -139,807 -139,066 -138,321 -192,417 -191,974 -191,529 -191,081 -190,630 -190,177 -189,721 -189,263 -188,802 -188,338

270,786 270,786 270,786 270,786 270,786 270,786 270,786 -9,429,214 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786

-25,242,975 -25,114,917 -24,986,135 -24,856,625 -24,726,382 -24,595,403 -24,463,684 -34,031,220 -33,952,851 -33,874,040 -33,794,784 -33,715,079 -33,634,923 -33,554,314 -33,473,250 -33,391,727 -33,309,743 -33,227,296

2,860,570 2,859,850 2,859,126 2,858,398 2,857,666 2,856,930 2,856,189 12,555,444 2,909,540 2,909,097 2,908,652 2,908,204 2,907,753 2,907,300 2,906,844 2,906,386 2,905,925 2,905,461


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 509,587 - - - - - -

34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 34,601 - - - - - -

544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 544,188 - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 - - - - -

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 - - - - -

- 2,900,000 - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

110,308 3,010,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 110,308 - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

2,717,123 5,617,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,172,934 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,717,123 5,617,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,717,123 2,172,934 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

270,786 -2,629,214 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 814,974 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

-33,227,296 -33,144,382 -35,961,000 -35,893,543 -35,825,705 -35,757,483 -35,688,876 -35,619,880 -35,550,495 -35,480,717 -35,410,545 -35,339,975 -35,269,007 -34,653,449 -33,466,122 -32,272,082 -31,071,290 -29,863,709

-187,872 -187,403 -203,329 -202,947 -202,564 -202,178 -201,790 -201,400 -201,008 -200,613 -200,216 -199,817 -199,416 -195,936 -189,222 -182,471 -175,682 -168,854

270,786 -2,629,214 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 270,786 814,974 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

-33,144,382 -35,961,000 -35,893,543 -35,825,705 -35,757,483 -35,688,876 -35,619,880 -35,550,495 -35,480,717 -35,410,545 -35,339,975 -35,269,007 -34,653,449 -33,466,122 -32,272,082 -31,071,290 -29,863,709 -28,649,300

2,904,995 5,804,526 2,920,452 2,920,070 2,919,687 2,919,301 2,918,913 2,918,523 2,918,131 2,917,736 2,917,339 2,916,940 2,372,351 1,800,581 1,793,868 1,787,117 1,780,327 1,773,499


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

-28,649,300 -27,428,024 -26,199,844 -24,964,719 -23,722,610 -22,473,478 -21,217,284 -19,953,987 -18,683,547 -17,405,923 -16,121,076 -14,828,964 -13,529,547 -12,222,782 -10,908,628 -9,587,045 -8,257,988 -6,921,417

-161,987 -155,082 -148,138 -141,154 -134,131 -127,068 -119,966 -112,823 -105,639 -98,416 -91,151 -83,845 -76,498 -69,109 -61,679 -54,207 -46,692 -39,135

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

-27,428,024 -26,199,844 -24,964,719 -23,722,610 -22,473,478 -21,217,284 -19,953,987 -18,683,547 -17,405,923 -16,121,076 -14,828,964 -13,529,547 -12,222,782 -10,908,628 -9,587,045 -8,257,988 -6,921,417 -5,577,289

1,766,633 1,759,728 1,752,783 1,745,800 1,738,777 1,731,714 1,724,611 1,717,468 1,710,285 1,703,061 1,695,797 1,688,491 1,681,144 1,673,755 1,666,325 1,658,852 1,651,338 1,643,780


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - 720,000 - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - 720,000 - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 2,324,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 2,324,646 1,604,646 1,604,646 1,604,646 1,604,646

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 663,263 1,383,263 1,383,263 1,383,263 1,383,263

-5,577,289 -4,225,561 -2,866,191 -1,499,134 -124,347 1,258,213 2,641,475 4,024,738 5,408,001 6,791,264 8,174,526 9,557,789 10,941,052 12,324,315 12,987,578 14,370,840 15,754,103 17,137,366

-31,535 -23,892 -16,206 -8,476 -703 - - - - - - - - - - - - -

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 663,263 1,383,263 1,383,263 1,383,263 1,383,263

-4,225,561 -2,866,191 -1,499,134 -124,347 1,258,213 2,641,475 4,024,738 5,408,001 6,791,264 8,174,526 9,557,789 10,941,052 12,324,315 12,987,578 14,370,840 15,754,103 17,137,366 18,520,629

1,636,180 1,628,538 1,620,852 1,613,122 1,605,349 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 2,324,646 1,604,646 1,604,646 1,604,646 1,604,646


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

18,520,629 19,903,891 21,287,154 22,670,417 24,053,680 25,436,943 26,820,205 28,203,468 29,586,731 30,969,994 32,353,257 33,736,519 35,119,782 36,503,045 37,886,308 39,269,570 40,652,833 42,036,096

- - - - - - - - - - - - - - - - - -

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

19,903,891 21,287,154 22,670,417 24,053,680 25,436,943 26,820,205 28,203,468 29,586,731 30,969,994 32,353,257 33,736,519 35,119,782 36,503,045 37,886,308 39,269,570 40,652,833 42,036,096 43,419,359

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

43,419,359 44,802,622 46,185,884 47,569,147 48,952,410 50,335,673 51,718,935 53,102,198 54,485,461 55,868,724 57,251,987 58,635,249 60,018,512 61,401,775 62,785,038 64,168,300 65,551,563 66,934,826

- - - - - - - - - - - - - - - - - -

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263

44,802,622 46,185,884 47,569,147 48,952,410 50,335,673 51,718,935 53,102,198 54,485,461 55,868,724 57,251,987 58,635,249 60,018,512 61,401,775 62,785,038 64,168,300 65,551,563 66,934,826 68,318,089

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283 714,283

932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941 932,941

699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706 699,706

30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765 30,765

111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263 111,263

127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158 127,158

38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147 38,147

12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534 12,534

45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330 45,330

51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805 51,805

15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542 15,542

14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813 14,813

53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571 53,571

61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224 61,224

18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367 18,367

2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908 2,987,908

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 - - - - - -

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 - - - - - -

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 - - - - - -

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 - - - - - -

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 - - - - - -

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 - - - - - -

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 - - - - - -

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 - - - - - -

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 - - - - - -

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 - - - - - -

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 - - - - - -

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222 72,222

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 72,222 72,222 72,222 72,222 72,222 72,222

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 72,222 72,222 72,222 72,222 72,222 72,222

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687

68,318,089 69,701,352 71,084,614 72,467,877 73,851,140 75,234,403 76,617,665 78,000,928 79,384,191 80,767,454 82,150,717 83,533,979 84,917,242 87,832,929 90,748,616 93,664,302 96,579,989 99,495,676

- - - - - - - - - - - - - - - - - -

1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 1,383,263 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687 2,915,687

69,701,352 71,084,614 72,467,877 73,851,140 75,234,403 76,617,665 78,000,928 79,384,191 80,767,454 82,150,717 83,533,979 84,917,242 87,832,929 90,748,616 93,664,302 96,579,989 99,495,676 102,411,363

1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 1,604,646 72,222 72,222 72,222 72,222 72,222 72,222


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £3,050 £145,713,750

3 bed house 40% 780.00 80 62,400 £3,050 £190,320,000

4+ bed house 20% 390.00 120 46,800 £3,050 £142,740,000

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £1,035 £6,275,981

2 bed house 236.25 70 16,538 40% £1,373 £22,697,719

3 bed house 236.25 80 18,900 45% £1,373 £25,940,250

4+ bed house 47.25 120 5,670 45% £1,373 £7,782,075

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,265 £2,556,881

2 bed house 78.75 70 5,513 50% £1,678 £9,247,219

3 bed house 78.75 80 6,300 55% £1,678 £10,568,250

4+ bed house 15.75 120 1,890 55% £1,678 £3,170,475

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,495 £3,021,769

2 bed house 78.75 70 5,513 65% £1,983 £10,928,531

3 bed house 78.75 80 6,300 70% £1,983 £12,489,750

4+ bed house 15.75 120 1,890 65% £1,983 £3,746,925

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3909911.8


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £12,377 per unit £37,130,565

2.7.5 £0

£49,705,628

2.8 Sale Cost


£14,733,225





£105,327,050



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

214 215 216

Oct-34 Nov-34 Dec-34

60,460 - -

714,283 - -

932,941 - -

699,706 - -

30,765 - -

111,263 - -

127,158 - -

38,147 - -

12,534 - -

45,330 - -

51,805 - -

15,542 - -

14,813 - -

53,571 - -

61,224 - -

18,367 - -

2,987,908 - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

- - -

72,222 - -

72,222 - -

- 49,110,750 49,110,750

- 3,552,775 3,552,775

- 52,663,525 52,663,525

72,222 52,663,525 52,663,525

2,915,687 -52,663,525 -52,663,525

102,411,363 105,327,050 52,663,525

- - -

2,915,687 -52,663,525 -52,663,525

105,327,050 52,663,525 0

72,222 52,663,525 52,663,525

Appendix 6: Appraisal 3: GLH Refined CIL Viability Assessment


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750 Nov-17 Oct-34 204

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464 Nov-17 Oct-34 204

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524 Nov-17 Oct-34 204

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393 Nov-17 Oct-34 204

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650 Nov-17 Oct-34 204

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880 Nov-17 Oct-34 204

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148 Nov-17 Oct-34 204

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444 Nov-17 Oct-34 204

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438 Nov-17 Oct-34 204

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700 Nov-17 Oct-34 204

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228 Nov-17 Oct-34 204

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269 Nov-17 Oct-34 204

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213 Nov-17 Oct-34 204

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180 Nov-17 Oct-34 204

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920 Nov-17 Oct-34 204

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176 Nov-17 Oct-34 204

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513 May-17 Mar-34 203

2 bed house 682.50 70 47,775 £958 £45,768,450 May-17 Mar-34 203

3 bed house 780.00 80 62,400 £958 £59,779,200 May-17 Mar-34 203

4+ bed house 390.00 120 46,800 £958 £44,834,400 May-17 Mar-34 203

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081 May-17 Mar-34 203

2 bed house 393.75 70 27,563 £958 £26,404,875 May-17 Mar-34 203

3 bed house 393.75 80 31,500 £958 £30,177,000 May-17 Mar-34 203

4+ bed house 78.75 120 9,450 £958 £9,053,100 May-17 Mar-34 203

1,050.0 80,456


3,000.00 £241,711,009





£0 May-17 Oct-26 114

£76,380,963


2.5.1 12% on build costs (incl. externals and higher housing standard) £31,905,853

£31,905,853 May-17 Mar-34 203

2.6 Contingency


£13,294,106 May-17 Mar-34 203



2.7.2 MOVED TO 2.3.3 May-17 Mar-34 203

2.7.3 CIL £0 per sqm (OM only) £0.00 May-17 Oct-26 114

2.7.4 S106 / S278 £13,355.90 per unit £40,067,700 May-17 Jun-26 110

2.7.5 £0 May-17 Mar-34 203

£40,067,700

2.8 Sale Cost


£14,309,734 Nov-17 Oct-34 204





£101,908,361



4.0 Finance Costs




Closing Balance


PROJECT BALANCE £0

Sqm/net ha

Timing


ITEM




CASHFLOW

Private Affordable Social Rent Affordable Rent Intermediate 1 2 3 4 5 6 7 8 9 10 11 12 13 14

Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750 Nov-17 Oct-34 204 - - - - - - - - - - 60,460 60,460 60,460 60,460

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464 Nov-17 Oct-34 204 - - - - - - - - - - 693,223 693,223 693,223 693,223

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524 Nov-17 Oct-34 204 - - - - - - - - - - 905,434 905,434 905,434 905,434

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393 Nov-17 Oct-34 204 - - - - - - - - - - 679,075 679,075 679,075 679,075

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650 Nov-17 Oct-34 204 - - - - - - - - - - 27,346 27,346 27,346 27,346

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880 Nov-17 Oct-34 204 - - - - - - - - - - 95,985 95,985 95,985 95,985

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148 Nov-17 Oct-34 204 - - - - - - - - - - 109,697 109,697 109,697 109,697

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444 Nov-17 Oct-34 204 - - - - - - - - - - 32,909 32,909 32,909 32,909

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438 Nov-17 Oct-34 204 - - - - - - - - - - 11,394 11,394 11,394 11,394

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700 Nov-17 Oct-34 204 - - - - - - - - - - 39,994 39,994 39,994 39,994

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228 Nov-17 Oct-34 204 - - - - - - - - - - 45,707 45,707 45,707 45,707

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269 Nov-17 Oct-34 204 - - - - - - - - - - 13,712 13,712 13,712 13,712

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213 Nov-17 Oct-34 204 - - - - - - - - - - 15,952 15,952 15,952 15,952

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180 Nov-17 Oct-34 204 - - - - - - - - - - 55,991 55,991 55,991 55,991

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920 Nov-17 Oct-34 204 - - - - - - - - - - 63,990 63,990 63,990 63,990

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176 Nov-17 Oct-34 204 - - - - - - - - - - 19,197 19,197 19,197 19,197

210.0 15,724

Gross Development Value £585,493,375 - - - - - - - - - - 2,870,066 2,870,066 2,870,066 2,870,066



5.75%

2.1.1 Net site value (residual land value) 5.80% £50,847,923 May-17 Sep-26 113 - - - - 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982

6.79%

Purchaser Costs 6.79% 6.79% 3452574 May-17 Sep-26 113 - - - - 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554

Site Costs £54,300,497 - - - - 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535

2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513 May-17 Mar-34 203 - - - - 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

2 bed house 682.50 70 47,775 £958 £45,768,450 May-17 Mar-34 203 - - - - 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

3 bed house 780.00 80 62,400 £958 £59,779,200 May-17 Mar-34 203 - - - - 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

4+ bed house 390.00 120 46,800 £958 £44,834,400 May-17 Mar-34 203 - - - - 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081 May-17 Mar-34 203 - - - - 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

2 bed house 393.75 70 27,563 £958 £26,404,875 May-17 Mar-34 203 - - - - 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

3 bed house 393.75 80 31,500 £958 £30,177,000 May-17 Mar-34 203 - - - - 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

4+ bed house 78.75 120 9,450 £958 £9,053,100 May-17 Mar-34 203 - - - - 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

1,050.0 80,456

2.3.3 Higher Housing Standard 2.50% build cost £5,895,390 May-17 Mar-34 203 - - - - 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

3,000.00 £241,711,009 - - - - 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695


2.4.1 Externals 10% on build cost £24,171,100.92 May-17 Mar-34 203 - - - - 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

2.4.2 Site Abnormals (remediation / demolition) £0 per net ha £0 May-17 Oct-26 114 - - - - - - - - - - - - - -

2.4.3 Site Opening Up Costs £17,403 per unit £52,209,862 May-17 Oct-26 114 - - - - 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

£0 May-17 Oct-26 114 - - - - - - - - - - - - - -

£76,380,963 - - - - 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051



£31,905,853 May-17 Mar-34 203 - - - - 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

2.6 Contingency


£13,294,106 May-17 Mar-34 203 - - - - 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488


2.7.1 Lifetime Homes £0 per unit £0.00 May-17 Mar-34 203 - - - - - - - - - - - - - -

2.7.2 MOVED TO 2.3.3 May-17 Mar-34 203 - - - - - - - - - - - - - -

2.7.3 CIL £0 per sqm (OM only) £0.00 May-17 Oct-26 114 - - - - - - - - - - - - - -

2.7.4 S106 / S278 £13,355.90 per unit £40,067,700 May-17 Jun-26 110 - - - - - - - - - - - - - -

2.7.5 £0 May-17 Mar-34 203 - - - - - - - - - - - - - -

£40,067,700 - - - - - - - - - - - - - -

2.8 Sale Cost


£14,309,734 Nov-17 Oct-34 204 - - - - - - - - - - 70,146 70,146 70,146 70,146

TOTAL DEVELOPMENT COSTS (including land) £471,969,862 - - - - 2,470,941 2,470,941 2,470,941 2,470,941 2,470,941 2,470,941 2,541,086 2,541,086 2,541,086 2,541,086


3.1 Private Units 20% on OM GDV £95,398,226 Nov-34 Dec-34 2 - - - - - - - - - - - - - -

3.2 Affordable Units 6% on AH transfer values £6,510,135 Nov-34 Dec-34 2 - - - - - - - - - - - - - -

£101,908,361 - - - - - - - - - - - - - -

TOTAL PROJECT COSTS (EXCLUDING INTEREST) £573,878,223 - - - - 2,470,941 2,470,941 2,470,941 2,470,941 2,470,941 2,470,941 2,541,086 2,541,086 2,541,086 2,541,086

TOTAL INCOME - TOTAL COSTS (EXCLUDING INTEREST) £11,615,152 - - - - -2,470,941 -2,470,941 -2,470,941 -2,470,941 -2,470,941 -2,470,941 328,979 328,979 328,979 328,979

4.0 Finance Costs

APR PCM Opening Balance - - - - - -2,470,941 -4,955,852 -7,454,814 -9,967,905 -12,495,206 -15,036,796 -14,792,837 -14,547,499 -14,300,773

4.1 Finance 7.00% on net costs 0.565% -£11,615,152 Interest - - - - - -13,971 -28,021 -42,151 -56,360 -70,650 -85,020 -83,641 -82,254 -80,859

Net Cashflow in month - - - - -2,470,941 -2,470,941 -2,470,941 -2,470,941 -2,470,941 -2,470,941 328,979 328,979 328,979 328,979

Closing Balance - - - - -2,470,941 -4,955,852 -7,454,814 -9,967,905 -12,495,206 -15,036,796 -14,792,837 -14,547,499 -14,300,773 -14,052,653

TOTAL PROJECT COSTS (INCLUDING INTEREST) £585,493,375 - - - - 2,470,941 2,484,912 2,498,962 2,513,091 2,527,301 2,541,590 2,626,107 2,624,727 2,623,340 2,621,945

PROJECT BALANCE £0

Sqm/net ha

Timing


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%

Purchaser Costs 6.79% 6.79% 3452574


2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32

Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982

30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554

480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086

328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979

-14,052,653 -13,803,129 -13,552,195 -13,299,842 -13,046,062 -12,790,847 -12,534,189 -12,276,080 -12,016,511 -11,755,475 -11,492,963 -11,228,967 -10,963,478 -10,696,488 -10,427,988 -10,157,970 -9,886,426 -9,613,346

-79,456 -78,045 -76,626 -75,199 -73,764 -72,321 -70,870 -69,411 -67,943 -66,467 -64,983 -63,490 -61,989 -60,479 -58,961 -57,435 -55,899 -54,355

328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979

-13,803,129 -13,552,195 -13,299,842 -13,046,062 -12,790,847 -12,534,189 -12,276,080 -12,016,511 -11,755,475 -11,492,963 -11,228,967 -10,963,478 -10,696,488 -10,427,988 -10,157,970 -9,886,426 -9,613,346 -9,338,722

2,620,542 2,619,131 2,617,712 2,616,286 2,614,851 2,613,408 2,611,956 2,610,497 2,609,029 2,607,554 2,606,069 2,604,577 2,603,075 2,601,566 2,600,048 2,598,521 2,596,986 2,595,442


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50

Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21

60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982

30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554

480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - 1,089,894 4,338,603 - - - - 3,237,309 - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - 1,089,894 4,338,603 - - - - 3,237,309 - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 3,630,980 6,879,690 2,541,086 2,541,086 2,541,086 2,541,086 5,778,395 2,541,086 2,541,086 2,541,086

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 3,630,980 6,879,690 2,541,086 2,541,086 2,541,086 2,541,086 5,778,395 2,541,086 2,541,086 2,541,086

328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 -760,915 -4,009,624 328,979 328,979 328,979 328,979 -2,908,329 328,979 328,979 328,979

-9,338,722 -9,062,545 -8,784,807 -8,505,498 -8,224,610 -7,942,134 -7,658,061 -7,372,382 -7,085,087 -7,886,062 -11,940,275 -11,678,808 -11,415,862 -11,151,430 -10,885,503 -13,855,380 -13,604,741 -13,352,685

-52,802 -51,241 -49,671 -48,091 -46,503 -44,906 -43,300 -41,685 -40,060 -44,589 -67,512 -66,034 -64,547 -63,052 -61,548 -78,340 -76,923 -75,498

328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 -760,915 -4,009,624 328,979 328,979 328,979 328,979 -2,908,329 328,979 328,979 328,979

-9,062,545 -8,784,807 -8,505,498 -8,224,610 -7,942,134 -7,658,061 -7,372,382 -7,085,087 -7,886,062 -11,940,275 -11,678,808 -11,415,862 -11,151,430 -10,885,503 -13,855,380 -13,604,741 -13,352,685 -13,099,204

2,593,889 2,592,327 2,590,757 2,589,178 2,587,590 2,585,992 2,584,386 2,582,771 3,671,040 6,924,279 2,608,598 2,607,120 2,605,633 2,604,138 5,839,943 2,619,427 2,618,010 2,616,584


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982

30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554

480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086

328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979

-13,099,204 -12,844,290 -12,587,934 -12,330,129 -12,070,866 -11,810,137 -11,547,934 -11,284,249 -11,019,072 -10,752,397 -10,484,213 -10,214,513 -9,943,288 -9,670,530 -9,396,229 -9,120,378 -8,842,966 -8,563,987

-74,065 -72,623 -71,174 -69,716 -68,250 -66,776 -65,294 -63,803 -62,303 -60,796 -59,279 -57,754 -56,221 -54,679 -53,128 -51,568 -49,999 -48,422

328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979

-12,844,290 -12,587,934 -12,330,129 -12,070,866 -11,810,137 -11,547,934 -11,284,249 -11,019,072 -10,752,397 -10,484,213 -10,214,513 -9,943,288 -9,670,530 -9,396,229 -9,120,378 -8,842,966 -8,563,987 -8,283,429

2,615,151 2,613,710 2,612,260 2,610,803 2,609,337 2,607,863 2,606,380 2,604,889 2,603,390 2,601,882 2,600,366 2,598,841 2,597,307 2,595,765 2,594,214 2,592,654 2,591,086 2,589,508


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982

30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554

480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - 2,481,937 - - - - - - - - - - 1,143,849 13,402,458 - - -

- - - - - - - - - - - - - - - - - -

- - 2,481,937 - - - - - - - - - - 1,143,849 13,402,458 - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

2,541,086 2,541,086 5,023,023 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 3,684,935 15,943,544 2,541,086 2,541,086 2,541,086

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,541,086 2,541,086 5,023,023 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 3,684,935 15,943,544 2,541,086 2,541,086 2,541,086

328,979 328,979 -2,152,957 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 -814,870 -13,073,479 328,979 328,979 328,979

-8,283,429 -8,001,286 -7,717,547 -9,914,141 -9,641,217 -9,366,751 -9,090,733 -8,813,154 -8,534,006 -8,253,279 -7,970,965 -7,687,055 -7,401,539 -7,114,409 -7,969,505 -21,088,045 -20,878,300 -20,667,370

-46,836 -45,240 -43,636 -56,056 -54,513 -52,961 -51,400 -49,831 -48,253 -46,665 -45,069 -43,464 -41,849 -40,226 -45,061 -119,235 -118,049 -116,856

328,979 328,979 -2,152,957 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 -814,870 -13,073,479 328,979 328,979 328,979

-8,001,286 -7,717,547 -9,914,141 -9,641,217 -9,366,751 -9,090,733 -8,813,154 -8,534,006 -8,253,279 -7,970,965 -7,687,055 -7,401,539 -7,114,409 -7,969,505 -21,088,045 -20,878,300 -20,667,370 -20,455,247

2,587,922 2,586,327 5,066,659 2,597,142 2,595,599 2,594,047 2,592,487 2,590,917 2,589,339 2,587,752 2,586,155 2,584,550 2,582,936 3,725,161 15,988,605 2,660,321 2,659,135 2,657,943


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982

30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554

480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - 10,467,298 - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - 10,467,298 - - - - - - - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 13,008,384 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 13,008,384 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086

328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 -10,138,319 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979

-20,455,247 -20,241,925 -20,027,396 -19,811,655 -19,594,694 -19,376,506 -19,157,084 -18,936,422 -18,714,512 -28,958,645 -28,793,403 -28,627,226 -28,460,109 -28,292,047 -28,123,035 -27,953,068 -27,782,139 -27,610,244

-115,657 -114,451 -113,238 -112,018 -110,791 -109,558 -108,317 -107,069 -105,815 -163,736 -162,802 -161,862 -160,918 -159,967 -159,012 -158,051 -157,084 -156,112

328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 -10,138,319 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979

-20,241,925 -20,027,396 -19,811,655 -19,594,694 -19,376,506 -19,157,084 -18,936,422 -18,714,512 -28,958,645 -28,793,403 -28,627,226 -28,460,109 -28,292,047 -28,123,035 -27,953,068 -27,782,139 -27,610,244 -27,437,378

2,656,743 2,655,537 2,654,324 2,653,104 2,651,878 2,650,644 2,649,403 2,648,156 13,114,199 2,704,823 2,703,888 2,702,949 2,702,004 2,701,054 2,700,098 2,699,137 2,698,171 2,697,199


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 449,982 - - - - -

30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 30,554 - - - - -

480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 480,535 - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 457,981 - - - -

- - - - - - - - - - - - - - - - - -

577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 577,051 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - 3,129,398 - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - 3,129,398 - - - - - - - - - - - - - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

2,541,086 2,541,086 5,670,485 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,060,551 1,602,570 1,602,570 1,602,570 1,602,570

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

2,541,086 2,541,086 5,670,485 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,541,086 2,060,551 1,602,570 1,602,570 1,602,570 1,602,570

328,979 328,979 -2,800,419 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 809,515 1,267,496 1,267,496 1,267,496 1,267,496

-27,437,378 -27,263,533 -27,088,706 -30,042,289 -29,883,173 -29,723,158 -29,562,237 -29,400,407 -29,237,662 -29,073,997 -28,909,407 -28,743,885 -28,577,428 -28,410,030 -27,761,150 -26,650,620 -25,533,810 -24,410,686

-155,135 -154,152 -153,163 -169,863 -168,964 -168,059 -167,149 -166,234 -165,314 -164,389 -163,458 -162,522 -161,581 -160,634 -156,966 -150,686 -144,372 -138,022

328,979 328,979 -2,800,419 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 328,979 809,515 1,267,496 1,267,496 1,267,496 1,267,496

-27,263,533 -27,088,706 -30,042,289 -29,883,173 -29,723,158 -29,562,237 -29,400,407 -29,237,662 -29,073,997 -28,909,407 -28,743,885 -28,577,428 -28,410,030 -27,761,150 -26,650,620 -25,533,810 -24,410,686 -23,281,212

2,696,221 2,695,238 5,823,648 2,710,950 2,710,050 2,709,145 2,708,236 2,707,321 2,706,400 2,705,475 2,704,544 2,703,608 2,702,667 2,221,185 1,759,535 1,753,256 1,746,942 1,740,591


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496

-23,281,212 -22,145,352 -21,003,069 -19,854,327 -18,699,091 -17,537,322 -16,368,985 -15,194,042 -14,012,455 -12,824,188 -11,629,202 -10,427,459 -9,218,922 -8,003,551 -6,781,309 -5,552,155 -4,316,052 -3,072,960

-131,635 -125,213 -118,754 -112,259 -105,727 -99,159 -92,553 -85,909 -79,228 -72,510 -65,753 -58,958 -52,125 -45,253 -38,343 -31,393 -24,404 -17,375

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496

-22,145,352 -21,003,069 -19,854,327 -18,699,091 -17,537,322 -16,368,985 -15,194,042 -14,012,455 -12,824,188 -11,629,202 -10,427,459 -9,218,922 -8,003,551 -6,781,309 -5,552,155 -4,316,052 -3,072,960 -1,822,839

1,734,205 1,727,783 1,721,324 1,714,829 1,708,297 1,701,728 1,695,122 1,688,479 1,681,798 1,675,080 1,668,323 1,661,528 1,654,695 1,647,823 1,640,912 1,633,962 1,626,973 1,619,945


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - 776,954 - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - 776,954 - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 2,379,524 1,602,570 1,602,570 1,602,570

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 2,379,524 1,602,570 1,602,570 1,602,570

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 490,542 1,267,496 1,267,496 1,267,496

-1,822,839 -565,650 698,648 1,966,143 3,233,639 4,501,135 5,768,631 7,036,127 8,303,623 9,571,118 10,838,614 12,106,110 13,373,606 14,641,102 15,908,598 16,399,139 17,666,635 18,934,131

-10,307 -3,198 - - - - - - - - - - - - - - - -

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 490,542 1,267,496 1,267,496 1,267,496

-565,650 698,648 1,966,143 3,233,639 4,501,135 5,768,631 7,036,127 8,303,623 9,571,118 10,838,614 12,106,110 13,373,606 14,641,102 15,908,598 16,399,139 17,666,635 18,934,131 20,201,627

1,612,876 1,605,768 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 2,379,524 1,602,570 1,602,570 1,602,570


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496

20,201,627 21,469,123 22,736,618 24,004,114 25,271,610 26,539,106 27,806,602 29,074,098 30,341,593 31,609,089 32,876,585 34,144,081 35,411,577 36,679,072 37,946,568 39,214,064 40,481,560 41,749,056

- - - - - - - - - - - - - - - - - -

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496

21,469,123 22,736,618 24,004,114 25,271,610 26,539,106 27,806,602 29,074,098 30,341,593 31,609,089 32,876,585 34,144,081 35,411,577 36,679,072 37,946,568 39,214,064 40,481,560 41,749,056 43,016,552

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496

43,016,552 44,284,047 45,551,543 46,819,039 48,086,535 49,354,031 50,621,527 51,889,022 53,156,518 54,424,014 55,691,510 56,959,006 58,226,501 59,493,997 60,761,493 62,028,989 63,296,485 64,563,981

- - - - - - - - - - - - - - - - - -

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496

44,284,047 45,551,543 46,819,039 48,086,535 49,354,031 50,621,527 51,889,022 53,156,518 54,424,014 55,691,510 56,959,006 58,226,501 59,493,997 60,761,493 62,028,989 63,296,485 64,563,981 65,831,476

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212


60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460 60,460

693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223 693,223

905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434 905,434

679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075 679,075

27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346 27,346

95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985 95,985

109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697 109,697

32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909 32,909

11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394 11,394

39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994 39,994

45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707 45,707

13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712 13,712

15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952 15,952

55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991 55,991

63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990 63,990

19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197 19,197

2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066 2,870,066

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 33,810 - - - - -

225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 225,460 - - - - -

294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 294,479 - - - - -

220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 220,859 - - - - -

63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 63,720 - - - - -

130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 130,073 - - - - -

148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 148,655 - - - - -

44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 44,597 - - - - -

29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 29,041 - - - - -

1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 1,190,695 - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 119,069 - - - - -

157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 157,172 - - - - -

65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 65,488 - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146 70,146

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 70,146 70,146 70,146 70,146 70,146

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - -

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 70,146 70,146 70,146 70,146 70,146

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 2,799,920 2,799,920 2,799,920 2,799,920 2,799,920

65,831,476 67,098,972 68,366,468 69,633,964 70,901,460 72,168,956 73,436,451 74,703,947 75,971,443 77,238,939 78,506,435 79,773,930 81,041,426 82,308,922 85,108,842 87,908,762 90,708,682 93,508,601

- - - - - - - - - - - - - - - - - -

1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 1,267,496 2,799,920 2,799,920 2,799,920 2,799,920 2,799,920

67,098,972 68,366,468 69,633,964 70,901,460 72,168,956 73,436,451 74,703,947 75,971,443 77,238,939 78,506,435 79,773,930 81,041,426 82,308,922 85,108,842 87,908,762 90,708,682 93,508,601 96,308,521

1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 1,602,570 70,146 70,146 70,146 70,146 70,146


ITEM





Nr of units 1950.00 1050.00 630 210 210 3000 17.0 204.5

60% 20% 20%



Flats (NIA) 5% 97.50 55 5,363 £2,300 £12,333,750

2 bed house 35% 682.50 70 47,775 £2,960 £141,417,464

3 bed house 40% 780.00 80 62,400 £2,960 £184,708,524

4+ bed house 20% 390.00 120 46,800 £2,960 £138,531,393

100% 1,950.0 162,338


Flats (NIA) 110.25 55 6,064 35% £920 £5,578,650

2 bed house 236.25 70 16,538 40% £1,184 £19,580,880

3 bed house 236.25 80 18,900 45% £1,184 £22,378,148

4+ bed house 47.25 120 5,670 40% £1,184 £6,713,444

630.0 47,171


Flats (NIA) 36.75 55 2,021 45% £1,150 £2,324,438

2 bed house 78.75 70 5,513 50% £1,480 £8,158,700

3 bed house 78.75 80 6,300 55% £1,480 £9,324,228

4+ bed house 15.75 120 1,890 50% £1,480 £2,797,269

210.0 15,724


Flats (NIA) 36.75 55 2,021 60% £1,610 £3,254,213

2 bed house 78.75 70 5,513 65% £2,072 £11,422,180

3 bed house 78.75 80 6,300 70% £2,072 £13,053,920

4+ bed house 15.75 120 1,890 70% £2,072 £3,916,176

210.0 15,724




5.75%


6.79%



2.3 Build Costs


Flats 97.50 65 6,338 £1,083 £6,863,513

2 bed house 682.50 70 47,775 £958 £45,768,450

3 bed house 780.00 80 62,400 £958 £59,779,200

4+ bed house 390.00 120 46,800 £958 £44,834,400

1,950.0 163,313


Flats 183.75 65 11,944 £1,083 £12,935,081

2 bed house 393.75 70 27,563 £958 £26,404,875

3 bed house 393.75 80 31,500 £958 £30,177,000

4+ bed house 78.75 120 9,450 £958 £9,053,100

1,050.0 80,456


3,000.00 £241,711,009





£0

£76,380,963



£31,905,853

2.6 Contingency


£13,294,106



2.7.2 MOVED TO 2.3.3


2.7.4 S106 / S278 £13,355.90 per unit £40,067,700

2.7.5 £0

£40,067,700

2.8 Sale Cost


£14,309,734





£101,908,361



4.0 Finance Costs

APR PCM



PROJECT BALANCE £0

Sqm/net ha

213 214 215 216

Sep-34 Oct-34 Nov-34 Dec-34

60,460 60,460 - -

693,223 693,223 - -

905,434 905,434 - -

679,075 679,075 - -

27,346 27,346 - -

95,985 95,985 - -

109,697 109,697 - -

32,909 32,909 - -

11,394 11,394 - -

39,994 39,994 - -

45,707 45,707 - -

13,712 13,712 - -

15,952 15,952 - -

55,991 55,991 - -

63,990 63,990 - -

19,197 19,197 - -

2,870,066 2,870,066 - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

- - - -

70,146 70,146 - -

70,146 70,146 - -

- - 47,699,113 47,699,113

- - 3,255,067 3,255,067

- - 50,954,180 50,954,180

70,146 70,146 50,954,180 50,954,180

2,799,920 2,799,920 -50,954,180 -50,954,180

96,308,521 99,108,441 101,908,361 50,954,180

- - - -

2,799,920 2,799,920 -50,954,180 -50,954,180

99,108,441 101,908,361 50,954,180 -

70,146 70,146 50,954,180 50,954,180

Appendix 7: GLH Residential Market Report

GAYDON LIGHTHORNE HEATH

Residential Market Context Report

August 2016

CBRE

Page 1

INTRODUCTION

CONTENTS 1. Introduction ...................................................................................................... 2

2. Overview ............................................................................................................ 3

3. Market Overview .............................................................................................. 4

4. Gaydon Lighthorne Heath – New Settlement .......................................... 6

5. Comparable Sales Evidence .......................................................................... 8

6. Residential Pricing: Peter Brett Associates ............................................. 11

7. Conclusions .................................................................................................... 12

APPENDICES

Appendix 1 - District Sub Market Areas

Appendix 2 - Comparable Sites

CBRE

Page 2

INTRODUCTION

1. INTRODUCTION

1.1 CBRE and Peter Clarke & Co are jointly instructed by IM Properties Plc (“IMP”) to

provide a residential market report in relation to the proposed development of a

new settlement at Gaydon Lighthorne Heath (“GLH”) involving the construction of

3,000 dwellings plus associated facilities on 100 Ha (247 acres) existing agricultural

land.

1.2 The report will form part of IMP’s evidence to the Community Infrastructure Levy

(“CIL”) Examination planned for September 2016.

1.3 We have read the evidence of Peter Brett Associates (“PBA”) supporting the

Council’s Submission CIL Charging Schedule, in particular:

� Viability and deliverability of Strategic Sites, Final Report (April 2014) (“the

Strategic Sites Report”) and;

� Economic Viability Study: Submission Charging Schedule: September 2015

(“the EVS”).

Introduction

CBRE

Page 3

OVERVIEW

2. OVERVIEW

2.1 CBRE

2.1.1 Globally, including affiliates, CBRE has over 70,000 staff in more than 400 hundred

offices across 68 countries. In 2015, our turnover was US$10bn.

2.1.2 Our business has over 100 years of history as property advisors and is now

number one in virtually every major global business centre.

2.1.3 CBRE’s structure at a local level, uniquely positions us to service client

requirements utilising our national and international market leading expertise

whilst allowing us to interact as a multi-disciplinary team internally and place

paramount importance upon client instructions.

2.1.4 Our office profit centres allow for smooth, cross disciplinary work and a focus on

local clients, whilst our national and international footprint gives us an unrivalled

market knowledge and client portfolio.

2.1.5 CBRE Birmingham currently houses over 100 professional staff members. CBRE is

one of the most respected firms in the Midlands and utilises a strong local market

knowledge and presence in tandem with an unsurpassed national and

international footprint.

2.1.6 CBRE Birmingham has a dedicated development, agency, regeneration and

planning team, with significant experience of the traditional development markets

(residential, industrial, commercial and mixed use) together with specialisms in the

regeneration sector providing advice to a wide range public and private sector

clients, both within the Midlands and across the wider UK geography.

2.2 PETER CLARKE & CO

2.2.1 Peter Clarke FRICS founded the firm in 1991 with his two sons, Andrew Clarke BSc

(Hons) MRICS and Jonathan Clarke BSc (Hons) MRICS, in Stratford upon Avon. The

partnership has subsequently expanded with additional offices in Leamington Spa,

Wellesbourne, Shipston on Stour, Chipping Campden, Birmingham and an

association in Henley in Arden.

2.2.2 A multi-discipline practice of Chartered Surveyors offering a complete range of

residential and commercial property services, Peter Clarke has steadily grown to

become a market leading firm.

2.2.3 The practice is founded on the principles of professionalism, best advice and a

truly independent approach.

Overview

CBRE

Page 4

MARKET OVERVIEW

3 MARKET OVERVIEW

3.1 The market in Stratford district should be seen in the context of the main rural

centres of Studley, Alcester, Bidford, Henley-in-Arden, Shipston-On-Stour, Kineton,

Wellesbourne, Southam and the main town of Stratford itself.

3.2 From our extensive local experience and knowledge, we consider there is a central

band of higher residential value running north south through the district,

connecting the prime and well connected settlements of Henley, Stratford and

Shipston-On-Stour. Values to the west and east of this central band are lower.

3.3 On this basis there are clearly several different markets within the district, as well

as several sub markets within each. It is our professional opinion that the market is

split into the following five areas (a map of these areas can be found in Appendix

1);

� East Stratford and M40 Corridor

� Warwick and Leamington

� Stratford-upon-Avon

� Rural Hinterland and Local Service Villages

� LMA Strategic Site and Meon Vale (St Modwen and Persimmon Homes)

3.3.1 The area to the east of Stratford is disparate, comprising many smaller villages

(including Gaydon, Lighthorne and Lighthorne Heath) as well as the larger centres

of Kineton, Wellesbourne and Southam.

3.3.2 Whilst Junction 12 of the M40 provides good connections north and south,

particularly to the employment and services in Leamington and Warwick, the M40

also has truncating effect, making east-west movement more difficult, particularly

to Stratford.

3.6.1 Long Marston Airfield (LMA) is St Modwen’s (previously in partnership with

Persimmon) scheme in Long Marston (formerly known as the Long Marston Estate,

Meon Vale). The site is a 478 acre former MOD base, located between the villages

of Long Marston and Lower Quinton.

3.6.2 Meon Vale is situated 10.4 kms (6.5miles) south of Stratford upon Avon. Junction

15 of the M40 is 19.3 kms (12 miles) to the east.

3.6.3 The redevelopment of Meon Vale is being led by site owners, St Modwen, who

have overseen the delivery of 150 no. houses in Phases 1 & 2 (Persimmon and St

Modwen Homes) and the creation of a village centre which includes a Leisure

Centre, Community Centre, convenience store and all-weather sports pitches and

other recreational facilities.

3.6.4 The site has the benefit of Outline Planning Permission (14/01186/OUT) granted

by Stratford upon Avon District Council on 2 April 2015 for up to 550 dwellings.

3.7 The general slowdown in the market in 2008 and 2009 impacted significantly on

the development market in Stratford and the surrounding area, with many house-

builders placing schemes “on-ice” and postponing the commencement of any new

Market Overview

CBRE

Page 5

MARKET OVERVIEW

development. The combined effect of a decrease in the value of existing

landholdings and the cash flow forecast issues presented by lower than expected

unit sales meant that many housebuilders found themselves in a challenging

commercial position.

3.7.1 There was a marked improvement in conditions and sentiment from 2011

onwards, with land values in the Stratford market area significantly outperforming

secondary locations in the wider West Midlands area.

3.7.2 Nonetheless, significant further uncertainty has been introduced following the

June 2016 EU referendum result, with many investment decisions put on hold and

concerns about rising unemployment now feeding into the mortgage market.

CBRE

Page 6

GAYDON LIGHTHORNE HEATH – NEW SETTLEMENT

4. GAYDON LIGHTHORNE HEATH - NEW SETTLEMENT

4.1 Overview

4.1.1 The Council’s Core Strategy and supporting policy confirms Gaydon/Lighthorne

Heath as a major strategic allocation involving 3,000 dwellings, plus associated

facilities, on 100 Ha of existing agricultural land, mainly east of the B4100 and

adjacent to the M40. Significant expansion of the employment facilities at Jaguar

Land Rover (“JLR”) is also envisaged.

4.1.2 A planning application for up to 1,000 dwellings was submitted by IM Properties

(IMP) in November 2015 for its component of the wider new settlement (Ref.

15/04200/OUT). A further application by CEG / Bird Group for up to 2,000 units

and the village centre (ref. 15/00976/OUT) was approved in principle by the

Council in May 2016, although remains subject to completion of a S106

Agreement. IMP’s application is expected to be determined by the Council in

October 2016.

4.2 Location characteristics

4.2.1 The new settlement at GLH is to be built on a swathe of essentially agricultural

land next to the M40 motorway and the B4100. In spite of its proximity to the

motorway, it is some distance from the facilities needed to support a development

of this size.

4.2.2 The nearest supermarket and other main shopping is 9 miles away in Warwick or

Leamington (to which GLH arguably has more affinity than Stratford), 17 miles, 30

minutes by car to the west.

4.2.3 The nearest secondary school, Kineton High, is 4 miles to the south, the nearest

surgery 2.4 miles and the nearest dentist, 2 miles.

4.2.4 Public transport is adequate at best; a number of bus routes operate offer a

limited service between Leamington and JLR / AML, although they reflect the

working patterns of JLR and as such provide only limited coverage. The closest

train stations are some distance in Leamington Spa, Warwick and Warwick

Parkway.

4.2.5 Whilst nearby Lighthorne Heath has a small shop, village hall and primary school,

they are far too small to serve the proposed development. Indeed, the school will

be closed and relocated to the new settlement as part of the project. One of its

benefits therefore is to inject welcome investment and confidence into Lighthorne

Heath itself. There are also presently negative social and market connotations

around Lighthorne Heath, which accommodates former MOD housing (with a

relatively poor market perception). The GLH development will have to overcome

this over a sustained period.

4.2.6 To succeed, the development must clearly establish itself as a ‘place’ with all the

facilities needed to support an estimated new population of around 10,000, as well

as the existing residents of Lighthorne Heath.

Gaydon Lighthorne Heath – New Settlement

CBRE

Page 7

GAYDON LIGHTHORNE HEATH – NEW SETTLEMENT

4.2.7 GLH will not have the characteristics of neighbouring villages but will serve a mid-

market gap to fulfil the housing need for the envisaged economic growth of

employment on the M40 corridor. GLH will be a more affordable solution to

neighbouring areas of Warwick, Leamington and Stratford-upon-Avon. Pricing will

therefore be adjusted downwards and reflective of the anticipated demographic

profile.

4.2.8 A new village centre is proposed, including small supermarket and smaller shops,

pub / restaurant, primary school and health care facilities. Other facilities are also

planned beyond the centre, including green spaces, allotments, footways and

cycleways, sports pitches, two pavilions and a shop / café.

4.2.9 However, it is essential that these facilities are delivered as early as possible so

prospective buyers can clearly see the merits of investing into the development.

4.2.10 Many prospective buyers will also be concerned about potential traffic noise from

the M40 and B4100, and adequate mitigation will be crucial to address the actual

and perceived impacts upon the new residential environment. We understand this

will be achieved by building an acoustic ‘bund’ and providing double glazing to

some units. It is also essential that the bund is delivered in the early phases.

4.3 Implications for Sales Values

4.3.1 The above characteristics of the site and its location inevitably have implications

for the threshold residential sales prices. Early delivery of the infrastructure, retail

and other facilities described above is critical if GLH is to compete effectively in the

market with other nearby developments.

4.3.2 Marketing campaigns for development must therefore convince potential

purchasers that GLH will truly be transformed from its present form (and

reputation) to “a thriving new village with an excellent range of local facilities that

provide for the everyday needs of new and existing residents…known for its sense of

community, high quality buildings, sustainable design and attractive green spaces.” 1

4.3.3 We now continue by considering the new residential developments with which

GLH will be competing most directly.

1 Land at Gaydon/Lighthorne Heath – Para 4.1 Supplementary Planning Document, SDC, Adopted July 2016

CBRE

Page 8

COMPARABLE SALES EVIDENCE

5. COMPARABLE SALES EVIDENCE

5.1 The tables below set out actual achieved transactions on a net sale areas basis

from comparable sites within the district. The evidence is based upon direct

information obtained from national housebuilders and both firms’ extensive

involvement in the local market.

5.2 A full breakdown of information can be provided on a private and confidential

basis if required.

5.3 The information is disaggregated by the sub-markets identified by CBRE and Peter

Clarke & Co as set out in Appendix 1.

5.4 The location of each individual comparable development is located on a map

provided in Appendix 2.

Comparable Sales Evidence


East Stratford and M40 Corridor

SCHEME DESCRIPTION HOUSEBUILDER TYPE PRICE

SIZE

(SQ FT)

SALES VALUE

(£/SQ FT)

SOUTHAM – LILLEY MEADOW, CV47 1BG 165 units – mix of 2, 3, 4 & 5 beds Taylor Wimpey 3 bed

4 bed detached

£264,995

£322,995

931

1,153

£280 (blended)

SOUTHAM – SOUTHAM GRANGE, CV47 2BJ 237 units – mix of 3 & 4 beds Bloor Homes £285,000

£410,000*

Confidential

KINETON – KINETON MEADOWS, CV35 0LG 90 units – mix of 3, 4 & 5 beds Bloor Homes £259,950

£539,950*

Confidential

BISHOPS ITCHINGTON – ABBOTTS MEADOW,

CV47 2QB

31 units – mix of 3 & 4 beds Cala Homes 3 bed detached

4 bed detached

£260,500

£298,000

931

1,183

£266 (blended)

BISHOPS ITCHINGTON – KNIGHTCOTE GRANGE,

CV47 2AF

81 units – mix of 2, 3, & 4 beds Persimmon

Homes

3 bed detached

4 bed detached

£260,000

£356,500

950

1,504

£253 (blended)

WELLESBOURNE – ETTINGHAM PARK, CV35 9JA 175 units – mix of 3, 4 & 5 beds Charles Church 3 bed detached

4 bed detached

4 bed detached

£330,000

£455,000

£510,000

1,160

1,585

1,852

£277 (blended)

WELLESBOURNE – MOUNTFORD PLACE, CV35

9NW

80 units – mix of 2, 3 & 4 beds Persimmon

Homes

3 bed semi

3 bed detached

4 bed detached

£232,000

£275,000

£365,000

761

969

1,222

£284 (blended)

LONG ITCHINGTON – SPINNEY FIELDS, CV47 9QP 150 units – mix of 2, 3, 4 & 5 beds Barratt/DWH £225,000

£580,000*

£282 (blended)

*Quoting prices

CBRE

Page 10


Rural Hinterland and Local Service Villages

SCHEME DESCRIPTION HOUSEBUILDER PRICE

SIZE (SQ

FT)

SALES

VALUE

(£/SQ FT)

SHIPSTON

ON STOUR

– THE

FOXGLOVE

S, CV36

4PX

102 Units –

mix of 2, 3, 4 &

5 beds

Cala Homes to be released

Q4 16

Guiding at

£260 - £275

LM4 Strategic Site and Meon Vale (St Modwen and Persimmon Homes)

SCHEME DESCRIPTION HOUSEBUILDER TYPE PRICE SIZE (SQ FT)

SALES

VALUE

(£/SQ

FT)

LONG

MARSTON

– MEON

VALE, CV37

8QR

82 units – mix

of 2, 3, 4 beds

St Modwen

Homes

3 bed

4 bed

detached

£232,995

£382,995

-

-

£252

(blended)

LONG

MARSTON

– MARSTON

GRANGE,

CV37 8QR

284 units – mix

of 2, 3 & 4

beds

Persimmon

Homes

3 bed semi

3 bed

detached

4 bed

detached

£213,000

£269,995

£324,995

797

1,205

1,274

£259

(blended)

5.5 It is our professional opinion that the St Modwen (and Persimmon Homes)

development at Long Marston is the closest comparable to GLH in terms of

quantum and limited amenities (albeit there is now a community store and LEAP

and a new school is proposed for 2017) and the fact it is a new settlement having

to overcome its historic use and associated reputational issues as a MOD site.

CBRE

Page 11

RESIDENTIAL PRICING: PETER BRETT ASSOCIATES

6. RESIDENTIAL PRICING: PETER BRETT ASSOCIATES

6.1 We have reviewed the Viability and Deliverability of Strategic Sites, Final Report

(April 2014) (“the Strategic Sites Report”) and Economic Viability Study: Submission

Charging Schedule: September 2015 (“the EVS”) undertaken by Peter Brett

Associates (PBA).

6.2 From the analysis PBA undertake they reach the conclusion that the district is split

into four value zone s- West, Central and East, and a separate rate for GLH.

6.3 This is set out in Table 5.5 of the EVS, reproduced below (with £/ft figures added

for clarity):

Stratford-upon-Avon District Sales Values

VALUE AREA HOUSE (£/SQ M) £/SQ FT FLATS (£/SQ M) £/SQ FT

WEST £2,850 £265 £2,200 £204

EAST £3,050 £283 £2,300 £214

CENTRAL £3,450 £321 £2,400 £223

GAYDON/LIGHTH

ORNE HEATH

£3,150 £293 £2,300 £214

Source: PBA Research (September 2015)

6.4 The supporting text within the report states that: “the separate rate for Gaydon

Lighthorne Heath has been identified as the type of development proposed and

the location are not reflective of its value area.”

6.5 On this basis of the above table, Peter Brett Associates states that the sales values

for houses at GLH will equate to £293 per sq ft (£3,150 per sq m).

6.6 Further to the above we have also been provided with the PBA latest GLH

appraisal (PC 1E) undertaken by Peter Brett Associates. This presents a further

adjustment to the values the open market houses to £283 per sq ft (£3,050 per sq

m).

6.7 It is our professional opinion that neither the values of £293 per sq ft (£3,150 per

sq m) or £283 per sq ft (£3,050 per sq m) for houses at GLH are achievable or

appropriately evidenced.

6.8 Moreover, from the information we have reviewed there is no justification for the

change in values nor is there any source of comparable information to support

their use in the first instance.

6.9 We do not believe that the analysis undertaken by PBA takes into account local

new build comparable evidence as provided in this report. In addition, PBA do not

make any of the essential pricing adjustments for GLH appropriately as per our

sourced evidence.

Residential Pricing: Peter Brett Associates

CBRE

Page 12

CONCLUSIONS

7. CONCLUSIONS

7.1 From the current local market transactional evidence reviewed and our analysis of

the market outlined earlier in the report it leads us to jointly conclude that an

open market residential value of £283 per sq ft (£3,050 per sq m) for houses is not

achievable at GLH in the current market.

7.2 It is unclear how PBA reached a conclusion over this period that such elevated

values would be realistic at GLH. There is no evidence to support their assertions –

particularly considering this pricing was set retrospectively by PBA back in

2014/2015.

7.3 GLH will be a new, untested market, adjacent to the motorway with a lack of

amenities and transport links. It will take a period of time, and a number of phases

before GLH can create a sense of place, and a new established residential location

in its own right.

7.4 Based on our analysis of new build transactional activity we jointly believe the

closest comparable in terms of scale and location to GLH is St Modwen and

Persimmon Homes development at Long Marston.

7.5 Persimmon and St Modwen Homes have directly confirmed that they are currently

achieving sales values of £252 - £259 per sq ft. We have applied an appropriate

uplift to these values to reflect the superior accessibility and substantial

employment opportunities at GLH (e.g. JLR within close proximity).

7.6 On this basis we conclude that net achievable sales values for GLH will be

necessarily set at £265 - £275 per sq ft (£2,852 - £2,960 per sq m) in order to be

competitive in securing purchasers within the local housing market.

Conclusions

CBRE

Appendix 1 – District Sub Markets

Page 13

DO NOT DELETE

APPENDICES

Appendix 1 – Sub-market Areas

Page 14

Appendix 2 – Comparable Sites

Page 15

Appendix 8: PBA Technical Statement for IM: April 2016

TECHNICAL NOTE

J:\31030 Stratford - further viability advice\Examination\Position Statement for IMP\1. Position Statement for IM Propoerties.docx Page 1 of 4

Job Name: Stratford Economic Viability Assessment

Job No: 31030

Note No: 1

Date: 27 April 2016

Prepared By: Russell Porter, Senior Associate Economist, PBA

Subject: Position Statement related to questions raised by IM Properties

Item Subject

DOCUMENT ISSUE RECORD

Technical Note No Rev Date Prepared Checked Reviewed

(Discipline Lead)

Approved (Project Director)

Job No/Brief/TN001 - 27.04.16 RP TM RP JB

Job No/Brief/TN001 A Peter Brett Associates LLP disclaims any responsibility to the Client and others in respect of any matters outside the scope of this report. This report has been prepared with reasonable skill, care and diligence within the terms of the Contract with the Client and generally in accordance with the appropriate ACE Agreement and taking account of the manpower, resources, investigations and testing devoted to it by agreement with the Client. This report is confidential to the Client and Peter Brett Associates LLP accepts no responsibility of whatsoever nature to third parties to whom this report or any part thereof is made known. Any such party relies upon the report at their own risk. © Peter Brett Associates LLP 2016

Peter Brett Associates LLP 10 Queen Square Bristol BS1 4NT

T: +44 (0)117 332 7840 E: [email protected]

TECHNICAL NOTE


Item Subject

1. Updating costs and values IMP comments: The April 2014 appraisal is outdated: PBA to supply a revised version based on updated costs and values. This should be based on the latest BCIS build cost evidence. PBA response: An updated September 2015 report has been published using the latest sample of actual build costs tender prices and achieved sales values that were available at that time (Q4 2014). It is important to note that the costs and values do fluctuate on a monthly basis, but it would be impractical to re-run the appraisals on every month, so a contingency for any unknowns was included in the appraisal. Also in setting the CIL, a significant financial headroom buffer was included to accommodate such fluctuations. This can be demonstrated using the identified changes in build costs and sales values index that is available from the BCIS and Land Registry (at 27 April 2016), which are attached with this note. The changes generate the following figures:

BCIS (build cost) plus externals, PFs and contingency Difference

Average sales values Difference

Change Q4

2014 Q1

2016 4.50% Q4

2014 Q1

2016 5.50%

Flats (sqm)

£1,354 £1,415 £61 £2,300 £2,427 £127

Houses (sqm)

£1,198 £1,251 £54 £3,050 £3,218 £168

Since both build costs and values have steadily increased by around 5% since the last appraisals informing the Sept 2015 report and recommended CIL charge, this will result in a substantial improvement in GLH’s viability. This is because the increases in values will have a greater impact on the bottom line than an equal increase in build costs.

2. Sustainability and Building Standards IMP comments: IMP concern that previous sustainability costs have been from the appraisal (previous iterations allowed for CfSH, Lifetime Homes and Building Regs Part L, 2013). Other aspects of CfSH have been incorporated into other legislation. An appropriate allowance should therefore now be made. PBA response: This point is addressed in paras 5.3.20 and 5.3.21 in the September 2015 update report. In effect, CSHs are no longer required in policy because higher standards are being integrated with changes in building regulations. Since CIL is based on current costs and values, we therefore used a sample of actual build cost tenders collated by BCIS for Q3 2014, which is when the latest changes to building regulations were in force. We do not know how building regulations will change in the future to alter tender prices, which is why we use current costs, as required by the regulation. But in deriving a suitable CIL charge, a contingency of 5% on build costs plus a substantial

TECHNICAL NOTE


Item Subject

financial headroom buffer have been included to allow for such changes. It was suggested by the land promotors at a meeting in PBA’s offices that contractors tend to under price jobs in a competitive tender arrangement with the intention that they make up for any extra costs through variations. While this may be the case, we have no evidence to support this. However, it is pertinent to note that the build costs values that we normally see for large residential schemes tend to be lower than the median average BCIS costs that we use. Therefore we are of the firm opinion that the build costs used in appraising GLH are appropriate for a CIL study.

3. Infrastructure & Opening Up Costs IMP comments: PBA Total cost £52,210,000 / 3,000 units gives an allowance of £17,403 per plot. PBA to supply infrastructure report confirming overall figure. PBA response: Site opening up costs include strategic infrastructure and S106 items. Information on strategic infrastructure costs was provided by Brookbanks. These are summarised below:

Land preparation and enabling works: £15,009,307

Flood risk & drainage: £6,636,582

Utilities: £11,780,175

Landscaping: £9,865,168

Archaeology and ecology: £1,332,582

Professional fees @12% excl: s106,S278, CIL: £5,354,858

Contingency (@5%) excl: s106,S278, CIL: £2,231,191

SUM TOTAL £52,209,862 Source: Brookbanks (Development Infrastructure Report; Document Ref: 10192 FAR 01E)

This works out at £17,405 per unit, which is within the expected range for a large strategic site, as suggested by the DCLG sponsored Harman Report (2012). For the S106/S278 cost, we received information from the council that this could be £37,130,565, which is £12,377 per unit. We have included all these costs in the GLH appraisal informing the recommended CIL charge.

4. Land Value IMP comments: PBA to supply further local market evidence, and the revised viability appraisal assessed against an appropriately uplifted benchmark land value PBA response: Like for most uses, the evidence for land value transactions can be difficult to find, and when it is obtained, it is often difficult to ascertain what has been included within the purchase price. For example, a developer is likely to pay more for land that comes with planning permission and no liable S106 requirements than for a greenfield site with no planning permission for housing, and in need of substantial opening costs. For the viability testing, we would normally rely on the latter assumption and apply the existing use value plus a suitable uplift, which for say agricultural land, might be 15 times EUV. Also, our land value assumes a flat cleared site. Any

TECHNICAL NOTE


Item Subject

abnormal costs, such as piling, should be reflected in a reduced land value. On this basis, the GLH site might be valued somewhere around £600,000 per net ha. This also reflected the values that we had collated from S106 and plan making viability studies elsewhere, with slight variations based on the market where the site is located. We discussed benchmark land values with the site promotors for the four strategic sites, including GLH, at the time of preparing the Sept 2013 report. Of these, two promotors would not divulge any information for commercial reasons and two confirmed that the value £600,000 per net ha would be an appropriate assumption for plan use viability testing. For the September 2015 report, PBA revised the benchmark land value to £640,000 based on applying the same proportional uplift as that experienced in sales in Stratford. This is to reflect what is considered to a competitive return to a willing landowner and a willing developer to enable the development to be deliverable with regard to the development plan policies and all other material planning considerations, including planning and affordable housing obligations and disregarding that which is contrary to the development plan.

5. Sharing GLH’s Appraisal IMP comments: PBA was asked to provide the full appraisal to IMP. PBA mistakenly sent a copy of the Aug 2014 appraisal and therefore have corrected this by attaching to this note the appraisal which informed the September 2014 report and recommended CIL charge.

Appendix 9: Bromford Affordable Housing Pricing Correspondence

1

Matthew Spilsbury

Subject: FW: Gaydon Lighthorne Strategic Allocation - 1000 units - 650 private , 350 social

From: Trevor Rowe [mailto:[email protected]]

Sent: 04 August 2016 13:29

To: Jonathan Dyke <[email protected]>

Cc: Guy Wooddisse <[email protected]>; Mike Hill <[email protected]>

Subject: Gaydon Lighthorne Strategic Allocation - 1000 units - 650 private , 350 social

Hi Jonathan

For us we are currently offering between 35% and 40% for SR and 45% and 50% for AR. Our offers on both

dropped by c 10% following the budget in summer 2015 when rent increases were reduced. It is not clear

what will happen when that policy runs out, but government is very keen to reduce the housing benefit bill

and we do expect their approach to continue or even impose greater reductions on rents in the future.

Our offers for S/O are a little higher, up to 70%.

The OMV’s at £275 psf are at the top of what we would expect for this location.

We welcome the “legal agreement for the whole with triggers approach” and I am preparing a report for

our Board to consider, getting their broad agreement to the approach working with IM Group.

We are meeting with Orbit next Friday to discuss a JV arrangement with GEC.

Many thanks

Trevor Rowe

Business Development Manager

T: 01285 885010

M: 07912 775040

1 Cirencester Office Park

Tetbury Road

Cirencester

GL7 6JJ

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Appendix 10: GLH S106 / S278 Summary Cost Schedule (as agreed with the Council)

GLH: S106 & S278 Infrastructure Items / Schemes (Agreed with LPA)

£ Total Transport

B4100 widening (Heritage Motor Centre to M40 Junction 12) (extra lane s'bound) £1,000,000

M40 Spur improvements £1,500,000

Widening of Fosse Way/Southam Road roundabout £500,000

Contingency for localised traffic impacts in villages only (Environmental Enhancement) £3,000,000

Fosse Way/Chesterton Road/Harbury Lane junction improvements £1,500,000

Right turn bay into Meadow Close/Spinney Close off B4100 Chesterton Hill £99,700

Harwoods House roundabout £900,000

Bus Subsidy £2,420,000

Public Rights of Way Improvements (within 1.5 mile radius) £321,000

Education

New primary school (3 FE) with co-located nursery and SEN (incl. poss. buildings as PIK) £7,021,000

Contribution to Kineton Secondary School incl. 6th Form and SEN and potential coach park £7,500,000

Other Infrastructure

New 4 GP Facility (646 sqm) (potentially provisionally housed in temporary accommodation) £1,800,000

Acute Care (to meet additional patient demand) £2,940,000

Safer Neighbour Team Premises and staff (potentially co-located) (ie Police contribution) £405,000

Provision or improvement of libraries in community hub £64,000

Community Hub £2,284,000

Roof for Kineton Swimming Pool £1,743,000

Kineton HS bus subsidy £800,000

Kineton HS physical Link £600,000

B4100 traffic calming / enhancement £999,000

Cycling Infrastructure and facilities £600,000

Sustainable Travel Pack £225,000

Sports Pavilion £1,000,000

CCTV £220,000

Lighthorne Heath Village enhancements £450,000

Defibrillator £2,000

Community Champion £104,000

s106 Monitoring £20,000

Legal Fees £50,000

GLH: S106 & S278 Infrastructure Items / Schemes (Agreed with LPA) Summary £ Total

Total GLH S106 / S278 Costs £40,067,700

Total Dwellings 3,000

S106 / S278 Costs per Dwelling £13,355.90

Turley Office

9 Colmore Row

Birmingham

B3 2BJ

T 0121 233 0902

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