BN3060 - Residual Valuation of a Development Property

Assignment Task

Brief & Scenario

• Undertake a Residual Valuation for a proposed development on the site detailed in this briefing pack for your Board of Directors.

• Write a report in support of the calculations and references for the valuation, maximum of words, excluding references. The report should provide an explanation of your decisions, a recommendation for a proposed development and the level of the offer to be made for the land. A checklist for your report is included with this brief.

• Sources of information utilised in the calculations and assessments should be fully referenced using the Harvard referencing standard, a guide to this is in the Blackboard module space.

• Please ensure you use the coursework cover sheet with your submission. This is an individual submission not group work.

• Your organisation is considering purchasing a parcel of land for development which is about to come to auction. As a developer you have been asked to investigate potential development projects for the site, which is located on the junction of Greenwood Road/Gladeside Road Wythenshawe, Manchester as shown in the pictures below.

The site is currently fenced off with a plywood hoarding. The site comprises partly grassed, partly asphalt areas and several large trees. A small existing building requires demolition. It is adjacent to and bounded by roads on 2 sides and residential streets on the other elevations. The site is suitable for low to mid rise buildings, and needs to be considerate to the neighbouring residents and green space

Mixed or sole use development of the site will be permitted for retail, residential or leisure provided that the design and layout of the development is to a high standard. The following conditions apply

• The residential amenity of the surrounding area is not adversely affected

• Heavy industry is not permitted at this location, light industry is acceptable.

Your organisation is keen to make an offer before an auction but needs confirmation of a viable development proposal, supported with appropriate residual valuation calculations. Your report will need to support a recommendation for an offer for the land purchase. Use the checklist in this brief to ensure you have covered the appropriate information.

Include calculations & breakdowns with supporting justification. The report should include an explanation of your decisions, recommendation(s) for a scheme and the level of the offer to be made for the land. Sources of information utilised in the calculations and assessments should be fully referenced. Please ensure you use the coursework cover sheet with your submission.

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