Annual Report on Widening Participation and Outreach (WP&O) | 2013–14 FEASIBILITY STUDY SURREY HEATH BOROUGH COUNCIL Case Studies
Background
Due to the ever-changing needs of our communities’ local authorities are having to rethink their approach to real estate and ensure property assets are maximised. The need for housing and fit-for-purpose public services that can deal with an evolving demographic environment and an aging population is driving local authorities and other public bodies to consider diversifying and consolidating their estate. Surrey Heath Borough Council (SHBC) took a proactive approach to six sites across the borough identified as providing potential for comprehensive development.
Requirements
Essentia were instructed by SHBC to provide comprehensive feasibility studies for all six redevelopment sites to test the boundaries of traditional development, capitalise on the site parameters and extract maximum value whilst ensuring the re-provision of vital local community services.
Solution
Based on a high-level analysis of the site constraints and planning objectives, we worked collaboratively with architects and SHBC to consider and develop: • Analysis of the site’s constraints • Review of local planning policy to understand the development potential • Review of local demand to maximise the value • Produced a range of development schemes illustrating height, scale and massing opportunities to optimise the development capacity and generate the most financially advantageous alternative uses. This was balanced against SHBC’s community re-provision requirements and the need for infrastructure and amenity • Concept designs encompassing RIBA Stages 1-2 developing the initial feasibility study • Appraised each development option, including maximising value and income from the site with recommendations on the viability and deliverability of each site • Further financial viability modelling for each option was undertaken to understand the sensitivities and financial implications of the various options being considered • Outlined financial delivery models to enable freehold retention and income revenue generation, including the merits of a capital receipt versus ongoing property revenue generation.
surrey.ac.uk This information was incorporated into a business case with recommendations on the viability and deliverability of each sites. 10
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